JSNE(SH:603693) Xin Lang Cai Jing·2025-10-31 11:10Core Viewpoint - Jiangsu Xinneng, established in 2002 and listed in 2018, is the only provincial state-owned listed company in Jiangsu focusing on renewable energy, particularly in wind power generation [1] Group 1: Business Performance - For Q3 2025, the company reported revenue of 1.526 billion yuan, ranking 11th in the industry, significantly lower than the top competitor Huadian Xinneng's 29.479 billion yuan and the industry average of 7.721 billion yuan [2] - The net profit for the same period was 455 million yuan, ranking 8th in the industry, again below Huadian Xinneng's 8.37 billion yuan and the industry average of 1.775 billion yuan [2] Group 2: Financial Ratios - As of Q3 2025, the company's debt-to-asset ratio was 53.69%, slightly down from 54.05% year-on-year and below the industry average of 60.48%, indicating lower debt pressure [3] - The gross profit margin for Q3 2025 was 50.19%, down from 52.02% year-on-year but still above the industry average of 42.94%, reflecting strong profitability [3] Group 3: Shareholder Information - As of September 30, 2025, the number of A-share shareholders decreased by 15.20% to 36,600, while the average number of shares held per shareholder increased by 17.92% to 24,300 [5] - Among the top ten circulating shareholders, Hong Kong Central Clearing Limited ranked seventh with 1.8793 million shares, an increase of 383,900 shares from the previous period [5] Group 4: Future Outlook - According to Huachuang Securities, the company’s net profit for the first half of 2025 was 282 million yuan, a year-on-year decrease of 3.62%, with revenue of 1.054 billion yuan, a slight increase of 0.48% [6] - The company has secured significant offshore wind power project development rights, which are expected to contribute positively to future growth [6] - Tianfeng Securities projects a revenue of 2.099 billion yuan for 2024, a year-on-year increase of 7.88%, but a decrease in net profit by 11.75% [7]