Core Insights - Minglida, established in July 2004 and listed on the Shenzhen Stock Exchange in April 2022, is a leading company in the precision structural components and mold sector in China, serving primarily Fortune 500 and industry-leading clients [1] Group 1: Financial Performance - For Q3 2025, Minglida reported revenue of 2.366 billion yuan, ranking 11th among 82 companies in the industry, while the industry leader, China International Marine Containers, achieved 117.061 billion yuan [2] - The net profit for the same period was -37.0937 million yuan, placing the company 78th in the industry, with the top performer, Neway Valve, reporting a net profit of 1.126 billion yuan [2] Group 2: Financial Ratios - As of Q3 2025, Minglida's debt-to-asset ratio was 71.46%, an increase from 61.09% in the previous year, significantly higher than the industry average of 39.81% [3] - The gross profit margin for Q3 2025 was 10.74%, down from 13.36% year-on-year, and below the industry average of 22.64% [3] Group 3: Management and Shareholder Information - The chairman and general manager, Tao Cheng, received a salary of 480,200 yuan in 2024, a decrease of 905,100 yuan from 2023 [4] - As of September 30, 2025, the number of A-share shareholders decreased by 6.28% to 12,600, while the average number of circulating A-shares held per shareholder increased by 6.70% to 14,300 [5] Group 4: Business Outlook - Tianfeng Securities noted significant recovery in profitability in Q2 2025, driven by the new energy vehicle sector, with revenue and net profit showing improvement [5] - The company is expected to see revenue growth from 3.5 billion yuan in 2025 to 5.2 billion yuan in 2027, with net profits projected to rise from 30 million yuan to 360 million yuan over the same period [5] - Open Source Securities indicated that the company turned a profit in Q2 2025, with a notable increase in revenue from new energy vehicles, photovoltaics, and energy storage [5]
铭利达的前世今生：负债率71.46%高于行业平均，毛利率10.74%低于同类21.9个百分点