KingShine(SZ:300903) Xin Lang Cai Jing·2025-10-31 16:09Core Viewpoint - 科翔股份 is a leading manufacturer of high-density printed circuit boards in China, with a full industry chain production capability and high product quality and technology levels [1] Group 1: Business Performance - In Q3 2025, 科翔股份 reported revenue of 2.727 billion yuan, ranking 22nd among 44 companies in the industry [2] - The industry leader, 东山精密, achieved revenue of 27.071 billion yuan, while the second, 鹏鼎控股, reported 26.855 billion yuan; the industry average revenue was 4.913 billion yuan [2] - The net profit for the same period was -134 million yuan, placing the company at the bottom of the industry ranking at 44th [2] - The industry leader, 胜宏科技, had a net profit of 3.245 billion yuan, and the second, 生益科技, reported 2.864 billion yuan; the industry average net profit was 481 million yuan [2] Group 2: Financial Ratios - As of Q3 2025, 科翔股份 had a debt-to-asset ratio of 73.61%, up from 71.66% in the previous year, which is significantly higher than the industry average of 44.70% [3] - The gross profit margin for Q3 2025 was 6.98%, an increase from 3.97% year-on-year, but still below the industry average of 20.58% [3] Group 3: Executive Compensation - The chairman, 郑晓蓉, received a salary of 1.9557 million yuan in 2024, an increase of 96,400 yuan from 2023 [4] - 郑晓蓉 has been the chairman since April 2019 and has a background in electronics manufacturing [4] Group 4: Shareholder Information - As of September 30, 2025, the number of A-share shareholders decreased by 42.81% to 28,500 [5] - The average number of circulating A-shares held per shareholder increased by 74.88% to 11,500 [5] - 大成中证360互联网 + 指数A exited the list of the top ten circulating shareholders [5]