NAR(SZ:002825) Chang Jiang Shang Bao·2026-01-15 23:56Core Viewpoint - Nar Holdings (002825.SZ) is restructuring to strengthen its core business by acquiring the remaining 33.5542% stake in Nantong Nar Material Technology Co., Ltd., increasing its ownership from 66.4458% to 100% [1][5] Group 1: Restructuring and Business Strategy - The acquisition aims to deepen Nar Holdings' strategic layout in the automotive protective film sector and enhance operational efficiency through resource integration [1][6] - The transaction will allow core employees to indirectly hold shares in the listed company, aligning their interests with the company's long-term goals [5][6] - Nar Holdings is also terminating a separate acquisition in the semiconductor sector to focus on its main business [2][7] Group 2: Financial Performance - For the first three quarters of 2025, Nar Holdings reported revenues of 1.468 billion yuan and a net profit of 144 million yuan, while Nantong Nar achieved revenues of 605 million yuan and a net profit of 66.66 million yuan, with a net profit margin that has doubled to 11.02% over the past two years [1][8] - Nantong Nar's financials show a steady increase in revenue and profitability, with net profit margins improving from 5.79% in 2023 to 11.02% in 2025 [7][8] Group 3: Asset and Liability Overview - As of September 2025, Nantong Nar's total assets were 458 million yuan, with total liabilities of 244 million yuan and equity of 214 million yuan [8] - Nar Holdings' financial performance includes a slight decline in net profit for the first three quarters of 2025, with a year-on-year decrease of 1.61% in non-recurring net profit [8]