SCIE(SH:600546) Sou Hu Cai Jing·2025-11-17 12:01Core Viewpoint - As of November 17, 2025, Shanmei International (600546) closed at 11.45 yuan, reflecting a 0.53% increase, with significant net inflows from major funds and notable outflows from retail investors [1][2]. Financial Performance - For the first three quarters of 2025, Shanmei International reported a main revenue of 15.332 billion yuan, a year-on-year decrease of 30.2% - The net profit attributable to shareholders was 1.046 billion yuan, down 49.74% year-on-year - The third quarter alone saw a main revenue of 5.673 billion yuan, a decline of 28.27% year-on-year, and a net profit of 391 million yuan, down 50.53% year-on-year [3]. Market Position - Shanmei International's total market capitalization is 22.699 billion yuan, ranking 14th in the coal industry - The company has a net asset value of 20.457 billion yuan, ranking 13th, and a net profit of 1.046 billion yuan, ranking 12th in the industry - The company's price-to-earnings ratio is 16.27, significantly higher than the industry average of 6.3, indicating a relatively high valuation compared to peers [3]. Recent Fund Flow - On November 17, 2025, major funds had a net inflow of 14.2202 million yuan, accounting for 5.95% of the total transaction volume - Retail investors experienced a net outflow of 1.23919 million yuan, representing 5.19% of the total transaction volume, indicating a shift in investor sentiment [1][2]. Analyst Ratings - Over the past 90 days, 10 institutions have rated Shanmei International, with 5 buy ratings and 5 hold ratings - The average target price set by analysts is 11.69 yuan, suggesting a potential upside from the current trading price [4].