Cosonic(SZ:300793) Xin Lang Cai Jing·2025-10-31 15:50Core Viewpoint - Jiahe Intelligent, a well-known global manufacturer of electroacoustic products, has faced challenges in revenue and net profit in 2025, but is focusing on diversifying its business and expanding into AI/AR glasses [2][5]. Group 1: Company Overview - Jiahe Intelligent was established on October 17, 2013, and listed on the Shenzhen Stock Exchange on October 18, 2019. The company is headquartered in Dongguan, Guangdong Province, and specializes in the design, research and development, manufacturing, and sales of electroacoustic products, including headphones and speakers [1]. - The company operates within the electronic industry, specifically in consumer electronics and components, and is associated with concepts such as virtual reality and the metaverse [1]. Group 2: Financial Performance - For Q3 2025, Jiahe Intelligent reported revenue of 1.625 billion yuan, ranking 40th among 88 companies in the industry. The top company, Industrial Fulian, achieved revenue of 603.931 billion yuan, while the industry average was 15.493 billion yuan [2]. - The net profit for the same period was 28.5487 million yuan, placing the company 55th in the industry. The leading company, Industrial Fulian, had a net profit of 22.522 billion yuan, with the industry average at 635 million yuan [2]. Group 3: Financial Ratios - As of Q3 2025, Jiahe Intelligent's debt-to-asset ratio was 31.83%, down from 46.99% year-on-year and below the industry average of 44.84% [3]. - The gross profit margin for the same period was 14.85%, a decrease from 16.03% year-on-year and also lower than the industry average of 19.47% [3]. Group 4: Executive Compensation - The chairman, Yan Fan, received a salary of 471,200 yuan in 2024, an increase of 128,300 yuan from 2023. The general manager, Xiao Weiqun, had a salary of 614,300 yuan in 2024, up by 46,500 yuan from the previous year [4]. Group 5: Shareholder Information - As of September 30, 2025, the number of A-share shareholders decreased by 9.05% to 47,500, while the average number of circulating A-shares held per shareholder increased by 9.95% to 7,828.31 [5]. - The company is expected to see revenue growth from 2.213 billion yuan in 2025 to 2.859 billion yuan in 2027, with net profits projected to rise from 45 million yuan to 161 million yuan during the same period [5].