Hi-Target(SZ:300177) Xin Lang Cai Jing·2025-11-18 01:34Core Viewpoint - The company Zhonghaidah experienced a decline in both revenue and net profit for the first nine months of 2025, indicating potential challenges in its business performance [2]. Group 1: Financial Performance - As of September 30, 2025, Zhonghaidah reported a revenue of 683 million yuan, a year-on-year decrease of 7.48% [2]. - The net profit attributable to shareholders was -45.97 million yuan, reflecting a significant year-on-year decline of 78.40% [2]. Group 2: Shareholder and Market Activity - The number of shareholders decreased by 12.11% to 65,000, while the average number of circulating shares per person increased by 13.78% to 9,322 shares [2]. - On November 17, 2023, Zhonghaidah's stock price rose by 1.78%, with a trading volume of 213 million yuan [1]. - The financing buy-in amount on the same day was 20.13 million yuan, while the financing repayment was 25.59 million yuan, resulting in a net financing buy-in of -5.46 million yuan [1]. - The total balance of margin trading was 467 million yuan, accounting for 6.44% of the circulating market value, which is below the 20th percentile level over the past year [1]. Group 3: Dividend and Institutional Holdings - Since its A-share listing, Zhonghaidah has distributed a total of 102 million yuan in dividends, with no dividends paid in the last three years [3]. - As of September 30, 2025, the General Aviation ETF (159378) emerged as the seventh largest circulating shareholder, holding 1.86 million shares as a new shareholder [3].