JJHB(SH:603279) Xin Lang Cai Jing·2025-10-31 15:27Core Viewpoint - Jingjin Equipment is a leading enterprise in the global filter press industry, with advanced technology and a full industry chain advantage, making it highly valuable for investment [1] Group 1: Business Performance - In Q3 2025, Jingjin Equipment achieved a revenue of 4.2 billion, ranking third among 51 companies in the industry, with the top competitor, Superstar Technology, generating 11.156 billion [2] - The company's net profit for the same period was 435 million, also ranking third, while the industry leader's net profit was 2.211 billion [2] Group 2: Financial Ratios - As of Q3 2025, Jingjin Equipment's debt-to-asset ratio was 49.00%, higher than the previous year's 47.58% and above the industry average of 38.24%, indicating some pressure on debt repayment capacity [3] - The gross profit margin for the same period was 24.47%, down from 29.06% year-on-year and below the industry average of 26.36% [3] Group 3: Shareholder Information - As of September 30, 2025, the number of A-share shareholders decreased by 3.41% to 20,400, while the average number of circulating A-shares held per shareholder increased by 3.53% to 28,300 [5] - Hong Kong Central Clearing Limited is the third-largest circulating shareholder, holding 29.4178 million shares, an increase of 7.4534 million shares from the previous period [5] Group 4: Future Outlook - Zhongyou Securities noted that the company's mid-2025 report showed performance impacted by the new energy sector, but cash flow remained strong, with a net cash flow from operating activities increasing by 59.04% year-on-year [6] - The company is expected to generate revenues of 5.811 billion, 6.442 billion, and 7.255 billion for 2025, 2026, and 2027 respectively, with net profits of 685 million, 784 million, and 918 million [6] - Guotai Junan Securities highlighted that while the demand for filter presses in downstream industries is relatively weak, the company is actively exploring new markets and has adjusted profit forecasts for 2025-2027 [6]