金盾股份：通风系统设备项目从合同签订到供货完成通常需要二到三年

Core Viewpoint - The company, Jindun Co., has significant orders on hand amounting to nearly 500 million RMB for the first half of 2025 and close to 700 million RMB by January 2026, but reported revenue of only 241 million RMB for Q3 2025, raising concerns about the slow delivery of orders [1] Group 1 - The company’s ventilation system equipment is primarily used in nuclear power, subways, tunnels, and hydropower sectors [1] - The typical duration from contract signing to delivery completion for a project is usually two to three years, with some projects taking even longer [1] - The company operates on a make-to-order basis, scheduling production and delivery 90 days in advance based on actual order demand [1]