BNMC(SH:601011) Xin Lang Cai Jing·2025-11-18 01:37Core Insights - On November 17, Baotailong's stock rose by 1.99% with a trading volume of 1.205 billion yuan [1] - As of November 17, Baotailong's total margin trading balance reached 314 million yuan, indicating a high level of financing activity [1] Financing and Margin Trading - On November 17, Baotailong had a financing buy-in of 105 million yuan and a repayment of 127 million yuan, resulting in a net financing outflow of 22.11 million yuan [1] - The current financing balance of 312 million yuan accounts for 3.54% of the circulating market value, exceeding the 90th percentile level over the past year [1] - The short selling data shows no shares were sold or repaid on November 17, with a remaining short selling balance of 1.2424 million yuan, also at a high level [1] Company Overview - Baotailong New Materials Co., Ltd. was established on June 24, 2003, and listed on March 9, 2011, located in Qitaihe City, Heilongjiang Province [1] - The company's main business includes coal mining, washing and processing, coking, chemical production, power generation, heating, new energy, and new materials [1] - The revenue composition includes raw coal (28.60%), washed coal (22.92%), fine coal (22.61%), heating and electricity (21.68%), new materials (1.70%), and others [1] Financial Performance - As of September 30, the number of Baotailong shareholders decreased by 10.86% to 83,100, while the average circulating shares per person increased by 12.18% to 23,062 shares [2] - For the period from January to September 2025, Baotailong reported a revenue of 479 million yuan, a year-on-year decrease of 57.55%, while the net profit attributable to shareholders increased by 118.44% to 50.36 million yuan [2] Dividend and Shareholding Structure - Baotailong has distributed a total of 332 million yuan in dividends since its A-share listing, with no dividends paid in the last three years [3] - As of September 30, 2025, the top ten circulating shareholders include notable institutional investors, with significant increases in holdings from several funds [3]