TIANSHENG(SZ:300169) Xin Lang Cai Jing·2025-10-31 17:05Core Viewpoint - Tian Sheng New Materials is a leading domestic supplier of polymer foam materials with a full industry chain advantage, showcasing significant investment value [1] Group 1: Business Overview - Tian Sheng New Materials was established on July 27, 1998, and listed on the Shenzhen Stock Exchange on January 25, 2011, with its registered and office address in Changzhou, Jiangsu Province [1] - The company's main business includes research, development, production, and sales of polymer foam materials and sound barriers, operating within the basic chemicals - chemical products - other chemical products sector [1] Group 2: Financial Performance - For Q3 2025, Tian Sheng New Materials reported revenue of 334 million yuan, ranking 68th among 79 companies in the industry, while the industry leader, Sinochem International, achieved revenue of 35.716 billion yuan [2] - The company's net profit for the same period was -84.38 million yuan, placing it 72nd in the industry, with the top performer, Hangyang Co., reporting a net profit of 850 million yuan [2] Group 3: Financial Ratios - As of Q3 2025, Tian Sheng New Materials had a debt-to-asset ratio of 104.52%, significantly higher than the industry average of 34.74%, indicating substantial debt pressure [3] - The company's gross profit margin was 23.92%, up from 22.92% year-on-year, exceeding the industry average of 19.93%, reflecting a competitive profitability advantage [3] Group 4: Executive Compensation - Chairman Wu Haizhou's compensation for 2024 was 527,600 yuan, an increase of 239,500 yuan from 2023 [4] - President Xu Yi's compensation for 2024 was 677,900 yuan, up by 231,800 yuan compared to 2023 [4] Group 5: Shareholder Information - As of September 30, 2025, the number of A-share shareholders decreased by 30.55% to 33,600, while the average number of circulating A-shares held per shareholder increased by 44% to 8,982.37 [5]