Sinofibers(SZ:300777) Chang Jiang Shang Bao·2025-11-09 23:44Core Viewpoint - Zhongjian Technology (300777.SZ) has signed a significant carbon fiber sales contract worth 563 million yuan, which represents 69.34% of its recent fiscal year's main business revenue, indicating strong market expansion efforts and positive future operational performance [1][2][3]. Group 1: Contract Details - The contract signed with Client A is for carbon fiber and carbon fiber fabrics, with a total amount of 563 million yuan, of which 366 million yuan has been fulfilled as of September 30, 2025, representing a fulfillment rate of 65.06% [2]. - The contract reflects the client's recognition of the quality stability, timely supply, and service capabilities of Zhongjian's new generation carbon fiber products [3]. Group 2: Financial Performance - In the first three quarters of 2025, Zhongjian Technology achieved an operating revenue of 684 million yuan, a year-on-year increase of 28.46%, and a net profit attributable to shareholders of 290 million yuan, up 25.45% [7]. - The company's gross margin for the first three quarters of 2025 reached 63.90%, an increase of 2.59 percentage points compared to the same period in 2024 [7]. Group 3: Research and Development - Zhongjian Technology has been actively investing in R&D, with expenses increasing to 76.86 million yuan in the first three quarters of 2025, reflecting a year-on-year growth of 16.17% [4]. - The R&D expense ratio for the same period was 11.23%, maintaining a high level of investment in innovation [4]. Group 4: Cash Flow and Financial Health - The net cash flow from operating activities for the first three quarters of 2025 was 356 million yuan, a significant increase of 240.36% year-on-year, indicating improved cash flow management [8]. - As of September 30, 2025, the company's debt-to-asset ratio was 9.22%, down from 13.93% in 2022, showcasing strong financial health [8].