BNMC(SH:601011) Xin Lang Cai Jing·2025-12-30 01:29Core Viewpoint - Baotailong's stock performance shows a decline of 1.70% on December 29, with a trading volume of 145 million yuan, indicating potential investor caution amid fluctuating financial metrics [1]. Financing and Margin Trading - On December 29, Baotailong had a financing buy-in of 16.11 million yuan and a net financing buy of 9.56 million yuan, with a total financing and margin trading balance of 264 million yuan, which is 3.98% of its market capitalization [1]. - The financing balance is above the 80th percentile of the past year, indicating a high level of leverage [1]. - In terms of margin trading, Baotailong repaid 1,500 shares on December 29, with a margin balance of 347,400 yuan, which is below the 10th percentile of the past year, suggesting low short-selling activity [1]. Company Overview - Baotailong New Materials Co., Ltd. is located in Qitaihe City, Heilongjiang Province, and was established on June 24, 2003, with its stock listed on March 9, 2011 [1]. - The company's main business includes coal mining, washing and processing, coking, chemical production, power generation, heating, new energy, and new materials, with revenue contributions from various segments: raw coal (28.60%), clean coal (22.92%), and heating and electricity (21.68%) [1]. Financial Performance - As of September 30, 2025, Baotailong reported a revenue of 479 million yuan, a year-on-year decrease of 57.55%, while the net profit attributable to shareholders was 50.36 million yuan, showing a significant increase of 118.44% [2]. - The number of shareholders decreased by 10.86% to 83,100, while the average circulating shares per person increased by 12.18% to 23,062 shares [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 the Guotai CSI Coal ETF being the third-largest shareholder, increasing its holdings by 32.45 million shares [3].