Joyoung(SZ:002242) Xin Lang Zheng Quan·2025-10-31 10:08Core Viewpoint - Jiuyang Co., Ltd. is a well-known kitchen small appliance company in China, established in 2002 and listed in 2008, with strong R&D capabilities and a wide sales network [1] Financial Performance - In Q3 2025, Jiuyang's revenue reached 5.585 billion yuan, ranking third among ten companies in the industry, with the industry leader Supor generating 16.897 billion yuan [2] - The net profit for the same period was 124 million yuan, placing Jiuyang fourth in the industry, while Supor's net profit was 1.364 billion yuan [2] Financial Ratios - Jiuyang's debt-to-asset ratio was 49.61% in Q3 2025, down from 53.80% year-on-year, but still above the industry average of 45.79% [3] - The gross profit margin for Q3 2025 was 26.92%, an increase from 26.27% year-on-year, and higher than the industry average of 26.38% [3] Executive Compensation - The chairman, Yang Ningning, received a salary of 2.3 million yuan in 2024, a decrease of 486,300 yuan from 2023 [4] Shareholder Information - As of September 30, 2025, the number of A-share shareholders decreased by 3.69% to 39,800, while the average number of shares held per shareholder increased by 3.29% to 19,100 [5] - Major shareholders saw reductions in their holdings, with Hong Kong Central Clearing Limited holding 3.7932 million shares, down by 871,000 shares [5] Market Outlook - Huachuang Securities reported that Jiuyang achieved a revenue of 1.6 billion yuan in Q3 2025, a year-on-year decrease of 11.0%, but turned a profit with a net profit of 855,000 yuan [5] - Pacific Securities noted that Jiuyang's revenue for the first three quarters of 2025 was 5.585 billion yuan, down 9.66%, while the net profit increased by 26.03% to 124 million yuan [6]