苏能股份的前世今生：2025年Q3营收87.6亿排行业第11，远低于行业均值

Company Overview - SuNeng Co., Ltd. was established on December 3, 2014, and listed on the Shanghai Stock Exchange on March 29, 2023. The company is a significant state-owned enterprise under the Xuzhou Mining Group in Jiangsu Province, with a complete coal industry chain [1] - The main business activities of SuNeng include coal mining, washing and processing, sales, and power generation, categorized under the coal mining industry, specifically thermal coal [1] Financial Performance - In Q3 2025, SuNeng achieved a revenue of 8.76 billion yuan, ranking 11th out of 18 in the industry, significantly lower than the industry leader China Shenhua's 213.15 billion yuan and second-ranked Shaanxi Coal's 118.08 billion yuan. The industry average revenue was 38.04 billion yuan, while SuNeng's revenue was slightly above the median of 9.17 billion yuan [2] - The net profit for the same period was 360 million yuan, placing SuNeng 12th in the industry, far behind China Shenhua's 46.92 billion yuan and Shaanxi Coal's 19.93 billion yuan. The industry average net profit was 5.73 billion yuan, and the median was 740 million yuan [2] Financial Ratios - As of Q3 2025, SuNeng's debt-to-asset ratio was 55.48%, an increase from 54.26% in the previous year and above the industry average of 49.56% [3] - The gross profit margin for Q3 2025 was 24.40%, down from 33.64% in the previous year but slightly above the industry average of 23.03% [3] Management Background - The chairman, Yu Yang, born in December 1976, has extensive management experience and has been the general manager of Xuzhou Mining Group since December 2024. The general manager, Chen Chuangju, born in March 1977, has many years of experience in the coal industry [4] Shareholder Information - As of September 30, 2025, the number of A-share shareholders decreased by 4.29% to 89,200, while the average number of circulating A-shares held per shareholder increased by 4.48% to 18,000. The top ten circulating shareholders included the Guotai CSI Coal ETF, which increased its holdings by 33.24 million shares [5]