HAIGUO(SZ:301063) Xin Lang Cai Jing·2025-10-31 13:37Core Viewpoint - Hai Guo Co., Ltd. is a significant player in the domestic large and medium-sized equipment specialized forgings sector, focusing on the research, production, and sales of customized forging products and components, with strong technical capabilities and product quality advantages [1] Group 1: Company Overview - Hai Guo Co., Ltd. was established on June 8, 2001, and listed on the Shenzhen Stock Exchange on September 24, 2021, with its registered and office address in Zhangjiagang, Jiangsu Province [1] - The company specializes in the research, production, and sales of large and medium-sized equipment specialized forgings, serving various industries including oil and gas extraction and wind power generation [1] Group 2: Financial Performance - In Q3 2025, Hai Guo Co., Ltd. achieved a revenue of 1.458 billion yuan, ranking 21st among 58 companies in the industry, while the industry leader, Zhongchuang Zhiling, reported a revenue of 30.745 billion yuan [2] - The net profit for the same period was 49.0934 million yuan, placing the company 38th in the industry, with the top performer, Zhongchuang Zhiling, reporting a net profit of 3.705 billion yuan [2] Group 3: Financial Ratios - As of Q3 2025, the company's debt-to-asset ratio was 39.65%, an increase from 34.98% in the previous year, which is lower than the industry average of 46.18% [3] - The gross profit margin for the same period was 10.39%, up from 9.21% year-on-year, but still below the industry average of 26.77% [3] Group 4: Shareholder Information - As of September 30, 2025, the number of A-share shareholders decreased by 1.88% to 9,816, while the average number of circulating A-shares held per account increased by 20.94% to 9,845.89 [5] Group 5: Business Highlights and Future Outlook - In the first half of 2025, the company reported significant growth, with revenue of 950 million yuan, a year-on-year increase of 49.8%, and a net profit of 33.865 million yuan, up 111% year-on-year [5] - The company is positioned in high-end equipment manufacturing, with a focus on oil and gas and wind power sectors, benefiting from the recovery in oil and gas exploration and development, as well as stable growth in the wind power gearbox market [5] - EPS forecasts for 2025 to 2027 are 0.78 yuan, 1.06 yuan, and 1.39 yuan, respectively, with a target price of 32.86 yuan based on a 31x PE for 2026 [5]