CNCEC(SH:601117) Xin Lang Cai Jing·2025-10-31 16:38Core Viewpoint - China Chemical is a leading integrated engineering construction enterprise in the chemical engineering sector, with significant revenue and profit performance compared to its industry peers [1][2]. Group 1: Business Performance - As of Q3 2025, China Chemical achieved an operating revenue of 1358.45 billion, ranking first in the industry, significantly surpassing the second-place company, Donghua Technology, which reported 67.95 billion [2]. - The net profit for the same period was 46.34 billion, also leading the industry, exceeding Donghua Technology's 3.63 billion and the industry average of 7.8 billion by nearly six times [2]. Group 2: Financial Ratios - The debt-to-asset ratio for China Chemical in Q3 2025 was 70.14%, slightly up from 69.95% year-on-year, and higher than the industry average of 50.95% [3]. - The gross profit margin was reported at 9.43%, an increase from 9.08% year-on-year, but still below the industry average of 20.49% [3]. Group 3: Shareholder Information - As of September 30, 2025, the number of A-share shareholders increased by 19.23% to 111,200, while the average number of circulating A-shares held per shareholder decreased by 15.74% to 54,600 [5]. - Major shareholders include Hong Kong Central Clearing Limited, holding 182 million shares, which decreased by 112 million shares from the previous period [5]. Group 4: Future Outlook - Analysts from Tianfeng Securities noted significant improvements in profitability and forecasted a positive medium to long-term growth outlook for China Chemical, with expected net profits of 63 billion, 69 billion, and 75 billion for 2025, 2026, and 2027 respectively [5]. - Western Securities highlighted a notable acceleration in Q3 performance, with improved operating cash flow and a slight increase in new orders, projecting net profits of 63.13 billion, 68.53 billion, and 74.13 billion for the same forecast period [6].