GOLDEN UNION(SH:603682) Xin Lang Cai Jing·2026-02-27 15:21Core Insights - The company reported a revenue of 947 million yuan for 2025, representing a year-on-year decline of 6.09% [1] - The net profit attributable to shareholders was -119 million yuan, a significant decrease of 905.66% year-on-year [1] - The basic earnings per share were -0.25 yuan [1] Financial Performance - The company's gross profit margin for 2025 was 24.04%, down by 1.78 percentage points year-on-year [2] - The net profit margin was -18.31%, a decline of 17.95 percentage points compared to the previous year [2] - In Q4 2025, the gross profit margin was 23.78%, showing a year-on-year increase of 3.24 percentage points but a quarter-on-quarter decrease of 2.07 percentage points [2] - The net profit margin for Q4 was -115.16%, down 102.97 percentage points year-on-year and 118.66 percentage points quarter-on-quarter [2] Cost Management - Total operating expenses for the year were 254 million yuan, a decrease of 60.41 million yuan from the previous year [2] - The operating expense ratio was 26.81%, down by 4.36 percentage points year-on-year [2] - Sales expenses decreased by 20.42%, management expenses by 31.92%, R&D expenses by 1.59%, and financial expenses by 13.57% [2] Shareholder Information - As of the end of 2025, the total number of shareholders was 18,400, an increase of 218 from the previous quarter, representing a growth of 1.20% [2] - The average market value of shares held per shareholder increased from 149,700 yuan to 168,900 yuan, a rise of 12.86% [2] Company Overview - Shanghai Jinheng Commercial Management (Group) Co., Ltd. is located at 68 Hongcao Road, Xuhui District, Shanghai, and was established on May 9, 2007 [3] - The company was listed on April 21, 2020, and its main business involves the positioning design, renovation, leasing, operation, and service of old urban properties and inefficient commercial properties [3] - The revenue composition is 74.83% from leasing and 25.17% from property services and other sources [3]