Core Insights - Emerald Holding, Inc. (EEX) is a leading player in the trade show industry, recognized for producing large-scale events and related services, and is the largest producer in the U.S. [1] - EEX reported a disappointing earnings performance for Q3 2025, with an EPS of -$0.02, missing the expected $0.05, and actual revenue of $77.5 million falling short of the estimated $132.9 million [2][6] - Despite quarterly setbacks, EEX's year-to-date revenue for 2025 reached $330.7 million, reflecting a 13.3% increase from the previous year, driven by acquisitions and organic growth [3][6] Financial Metrics - The price-to-sales ratio for EEX stands at 1.95, indicating that investors are willing to pay nearly twice the company's sales per share [4] - The enterprise value to sales ratio is 1.74, which reflects the company's total valuation in relation to its sales [4] - EEX has a low debt-to-equity ratio of 0.014, suggesting minimal debt compared to equity, which is favorable for financial stability [5] - The current ratio of 0.81 indicates potential challenges in covering short-term liabilities with short-term assets, raising concerns about liquidity [5]

Core Insights - Tianyin Holdings (000829.SZ) reported a total revenue of 65.571 billion yuan for Q3 2025, ranking first among disclosed peers, but showing a decrease of 3.814 billion yuan, or 5.50%, compared to the same period last year [1] - The company's net profit attributable to shareholders was -57.1814 million yuan, ranking sixth among peers, reflecting a decline of 77.8952 million yuan, or 376.05%, year-on-year [1] - Operating cash flow showed a net inflow of 347 million yuan, ranking fourth among peers, with an increase of 245 million yuan, or 241.15%, compared to the same period last year [1] Financial Ratios - The latest debt-to-asset ratio stands at 87.93%, ranking seventh among peers, with an increase of 0.19 percentage points from the previous quarter and 1.00 percentage points from the same period last year [3] - The latest gross profit margin is 3.08%, ranking seventh among peers, with an increase of 0.59 percentage points from the previous quarter and 0.42 percentage points from the same period last year [3] - The latest return on equity (ROE) is -1.96%, ranking sixth among peers, down 2.66 percentage points year-on-year [3] Earnings Per Share and Turnover Ratios - The diluted earnings per share is -0.06 yuan, ranking sixth among peers, a decrease of 0.08 yuan, or 376.24%, compared to the same period last year [3] - The latest total asset turnover ratio is 2.74 times, ranking second among peers, down 0.30 times, or 10.03%, year-on-year [3] - The latest inventory turnover ratio is 12.11 times, ranking first among peers, with a decrease of 0.54 times, or 4.25%, compared to the same period last year [3] Shareholder Structure - The number of shareholders is 82,800, with the top ten shareholders holding 418 million shares, accounting for 40.76% of the total share capital [3] - The largest shareholder is Shenzhen Investment Holdings Co., Ltd., holding 19.00% of the shares [3]

Core Insights - China National Airlines (601111.SH) reported a total operating revenue of 129.826 billion yuan for Q3 2025, ranking second among disclosed peers, with a year-on-year increase of 1.31% and a rise of 16.76 billion yuan compared to the same period last year [1] - The net profit attributable to shareholders reached 1.870 billion yuan, ranking fifth among peers, reflecting a year-on-year increase of 37.31% and an increase of 5.08 billion yuan from the previous year [1] - The net cash inflow from operating activities was 34.077 billion yuan, the highest among peers, with a year-on-year increase of 10.85% and an increase of 33.35 billion yuan compared to the same period last year [1] Financial Ratios - The latest debt-to-asset ratio is 87.88%, down 1.11 percentage points from the previous quarter and down 1.09 percentage points from the same period last year [3] - The latest gross profit margin is 7.06%, up 4.08 percentage points from the previous quarter and up 0.51 percentage points year-on-year [3] - The return on equity (ROE) stands at 4.03%, an increase of 0.68 percentage points compared to the same period last year [3] Earnings Per Share and Turnover - The diluted earnings per share is 0.11 yuan, an increase of 0.02 yuan year-on-year, marking a 22.22% rise compared to the same period last year [3] - The total asset turnover ratio is 0.37 times, ranking third among disclosed peers, while the inventory turnover ratio is 25.45 times [3] Shareholder Structure - The number of shareholders is 129,100, with the top ten shareholders holding 14.599 billion shares, accounting for 83.67% of the total share capital [3] - The largest shareholder is China Aviation Group Co., Ltd., holding 42.5% of shares, followed by Cathay Pacific Airways Ltd. at 15.0% [3]

Core Insights - Maanshan Iron & Steel Co., Ltd. (600808.SH) reported a total operating revenue of 57.572 billion yuan for Q3 2025, ranking 6th among disclosed peers [1] - The net profit attributable to shareholders reached 836.289 million yuan, an increase of 2.618 billion yuan compared to the same period last year [1] - The net cash inflow from operating activities was 4.324 billion yuan, ranking 5th among peers, with a year-on-year increase of 1.775 billion yuan, representing a 69.60% rise [1] Financial Performance - The latest debt-to-asset ratio is 60.56%, a decrease of 3.18 percentage points from the same period last year [3] - The gross profit margin is 5.09%, up 0.28 percentage points from the previous quarter, marking three consecutive quarters of increase, and up 5.44 percentage points year-on-year [3] - The return on equity (ROE) stands at 0.35%, an increase of 10.39 percentage points compared to the same period last year [3] - The diluted earnings per share (EPS) is 0.01 yuan, an increase of 0.34 yuan from the same period last year [3] Operational Efficiency - The total asset turnover ratio is 0.71 times, ranking 9th among disclosed peers [3] - The inventory turnover ratio is 7.04 times, ranking 11th among peers, with a year-on-year increase of 0.22 times, representing a 3.27% rise [3] Shareholder Structure - The number of shareholders is 131,400, with the top ten shareholders holding 5.789 billion shares, accounting for 75.18% of the total share capital [3] - The largest shareholder is Maanshan (Group) Holding Co., Ltd. with 4.84 billion shares [3]

Core Insights - The company reported a total operating revenue of 14.315 billion yuan for Q3 2025, ranking second among disclosed peers, with a year-on-year increase of 1.283 billion yuan, marking a 12.83% growth compared to the same period last year [1] - The net profit attributable to shareholders reached 655 million yuan, also ranking second among peers, with a significant year-on-year increase of 468 million yuan, reflecting a 249.84% growth compared to the same period last year [1] - The company experienced a net cash outflow from operating activities of 63.35 million yuan, which is an increase of 4.835 billion yuan compared to the same period last year [1] Financial Ratios - The latest debt-to-asset ratio stands at 61.76%, a decrease of 0.74 percentage points from the previous quarter [3] - The gross profit margin is reported at 11.36%, an increase of 1.98 percentage points from the previous quarter and 2.67 percentage points from the same period last year, achieving three consecutive years of growth [3] - The return on equity (ROE) is 3.65%, ranking fourth among peers, with an increase of 2.64 percentage points compared to the same period last year [3] Earnings Per Share and Turnover Ratios - The diluted earnings per share is 0.46 yuan, ranking second among peers, with an increase of 0.33 yuan compared to the same period last year, reflecting a 249.81% year-on-year growth [3] - The total asset turnover ratio is 0.26 times, ranking fourth among peers, with a year-on-year increase of 0.01 times, representing a 5.66% growth compared to the same period last year [3] - The inventory turnover ratio is reported at 1.81 times, ranking third among peers [3] Shareholder Structure - The number of shareholders is 75,900, with the top ten shareholders holding a total of 1.114 billion shares, accounting for 78.83% of the total share capital [3] - The largest shareholder is HKSCC NOMINEES LIMITED, holding 41.7% of shares, followed by China Shipbuilding Industry Group Co., Ltd. with 34.0% [3]

Core Insights - Company reported a total operating revenue of 73.092 billion yuan, ranking 5th among disclosed peers [1] - The net profit attributable to shareholders was -2.04 billion yuan, an increase of 3.044 billion yuan compared to the same period last year [1] - Operating cash flow was 1.968 billion yuan, ranking 10th among disclosed peers, with an increase of 2.281 billion yuan year-on-year [1] Financial Metrics - The latest debt-to-asset ratio is 52.00%, ranking 6th among disclosed peers [3] - The latest gross profit margin is 0.14%, an increase of 3.68 percentage points compared to the same period last year [3] - The latest return on equity (ROE) is -4.46%, an increase of 5.78 percentage points year-on-year [3] - The diluted earnings per share (EPS) is -0.22 yuan, an increase of 0.32 yuan compared to the same period last year [3] - The total asset turnover ratio is 0.74 times, ranking 8th among disclosed peers [3] - The inventory turnover ratio is 5.42 times, an increase of 0.29 times year-on-year, representing a 5.56% increase [3] Shareholder Structure - The number of shareholders is 95,700, with the top ten shareholders holding 7.671 billion shares, accounting for 81.88% of the total share capital [3] - The largest shareholder is Anshan Iron and Steel Group Co., Ltd. with 5.39 billion shares [3] - Other significant shareholders include Hong Kong Central Clearing (Agent) Co., Ltd. with 1.49 billion shares and China National Petroleum Corporation with 902 million shares [3]

Core Insights - Hubei Energy (000883.SZ) reported a total operating revenue of 13.521 billion yuan for Q3 2025, ranking 27th among disclosed peers, which is a decrease of 1.886 billion yuan or 12.24% year-on-year [1] - The net profit attributable to shareholders was 2.336 billion yuan, ranking 21st among peers, down by 125 million yuan or 5.07% compared to the same period last year [1] - The net cash inflow from operating activities was 5.106 billion yuan, ranking 24th among peers, a decrease of 804 million yuan or 13.61% year-on-year [1] Financial Ratios - The latest debt-to-asset ratio is 56.27%, ranking 49th among peers, which is a decrease of 2.74 percentage points from the previous quarter and 2.07 percentage points from the same period last year [3] - The latest gross profit margin is 26.10%, ranking 51st among peers, an increase of 2.33 percentage points from the previous quarter, but a decrease of 3.14 percentage points year-on-year [3] - The latest return on equity (ROE) is 6.71%, ranking 36th among peers, down by 0.47 percentage points from the same period last year [3] Earnings Per Share and Turnover Ratios - The diluted earnings per share is 0.36 yuan, ranking 31st among peers, a decrease of 0.02 yuan or 5.26% year-on-year [3] - The total asset turnover ratio is 0.14 times, ranking 64th among peers, a decrease of 0.02 times or 14.23% year-on-year [3] - The inventory turnover ratio is 11.27 times, ranking 58th among peers, a decrease of 4.33 times or 27.74% year-on-year [3] Shareholder Structure - The number of shareholders is 75,600, with the top ten shareholders holding 5.391 billion shares, accounting for 83.17% of the total share capital [3] - The largest shareholder is Hubei Hongtai Group Co., Ltd., holding 2.81 billion shares [3] - Other significant shareholders include China Yangtze Power Co., Ltd. and China Three Gorges Corporation, holding 2.641 billion and 1.57 billion shares respectively [3]

Core Insights - The company reported a total revenue of 39.862 billion yuan for Q3 2025, a decrease of 3.158 billion yuan compared to the same period last year, representing a year-on-year decline of 7.34% [1] - The net profit attributable to shareholders was 3.052 billion yuan, down by 0.867 billion yuan from the same period last year, reflecting a year-on-year decrease of 22.13% [1] - The net cash inflow from operating activities was 3.388 billion yuan, which is a reduction of 1.716 billion yuan compared to the same period last year, marking a year-on-year decline of 33.62% [1] Financial Ratios - The latest debt-to-asset ratio stands at 18.34%, a decrease of 0.27 percentage points from the previous quarter and a reduction of 2.34 percentage points from the same period last year [3] - The gross profit margin is reported at 32.54%, down by 0.22 percentage points from the previous quarter and down by 0.58 percentage points year-on-year [3] - The return on equity (ROE) is 5.48%, which is a decrease of 1.75 percentage points compared to the same period last year [3] Earnings and Turnover - The diluted earnings per share (EPS) is 1.48 yuan, a decrease of 0.42 yuan from the same period last year, reflecting a year-on-year decline of 22.13% [4] - The total asset turnover ratio is 0.53 times, down by 0.03 times compared to the same period last year, representing a year-on-year decline of 5.71% [4] - The inventory turnover ratio is 1.56 times, which is an increase of 0.11 times year-on-year, marking a 3-year consecutive increase with a year-on-year rise of 7.45% [4] Shareholder Structure - The number of shareholders is reported at 309,300, with the top ten shareholders holding a total of 1.36 billion shares, accounting for 65.74% of the total share capital [4] - The largest shareholder is China Tourism Group Co., Ltd., holding 50.30% of the shares [4]

Core Insights - Liaoport Co., Ltd. (601880.SH) reported a total operating revenue of 8.426 billion yuan for Q3 2025, ranking 13th among disclosed peers, with a year-on-year increase of 4.76 billion yuan, representing a 5.99% growth compared to the same period last year [1] - The company's net profit attributable to shareholders reached 1.3 billion yuan, also ranking 13th among peers, with a year-on-year increase of 355 million yuan, reflecting a 37.51% growth compared to the same period last year [1] - Operating cash flow net inflow was 4.32 billion yuan, ranking 7th among peers, with a significant increase of 1.965 billion yuan year-on-year, achieving an 83.40% growth compared to the same period last year [1] Financial Ratios - The latest debt-to-asset ratio stands at 22.93%, ranking 7th among peers, showing a decrease of 1.27 percentage points from the previous quarter and a decrease of 3.68 percentage points from the same period last year [3] - The latest gross profit margin is 31.20%, ranking 10th among peers, with an increase of 7.62 percentage points compared to the same period last year [3] - The latest return on equity (ROE) is 3.22%, reflecting an increase of 0.86 percentage points year-on-year [3] Earnings Per Share and Turnover Ratios - The diluted earnings per share (EPS) is 0.05 yuan, an increase of 0.01 yuan year-on-year, marking a 36.25% growth compared to the same period last year [3] - The total asset turnover ratio is 0.14 times, with a year-on-year increase of 0.01 times, representing a 4.96% growth compared to the same period last year [3] - The inventory turnover ratio is 48.24 times, ranking 9th among peers, with an increase of 3.12 times year-on-year, reflecting a 6.93% growth compared to the same period last year [3] Shareholder Structure - The number of shareholders is 211,800, with the top ten shareholders holding a total of 19.046 billion shares, accounting for 80.80% of the total share capital [3] - The largest shareholder is Yingkou Port Group Co., Ltd. with 2.93 billion shares, followed by Dalian Port Group Co., Ltd. with 2.31 billion shares [3]

Core Insights - Emerging Equipment (002933.SZ) reported a total operating revenue of 249 million yuan for Q3 2025, with a net profit attributable to shareholders of 29.12 million yuan, marking an increase of 12.17 million yuan compared to the same period last year, achieving a 71.84% year-on-year growth [1][3] Financial Performance - The company achieved a net cash inflow from operating activities of -11.87 million yuan, ranking 21st among disclosed peers, with an increase of 97.26 million yuan compared to the same period last year [1] - The latest debt-to-asset ratio stands at 36.19%, ranking 24th among peers, a decrease of 1.20 percentage points from the same period last year [3] - The gross profit margin is reported at 36.77%, ranking 19th among peers, with a sequential increase of 1.00 percentage point and a year-on-year increase of 10.56 percentage points [3] - Return on equity (ROE) is at 1.90%, an increase of 0.77 percentage points compared to the same period last year [3] - The diluted earnings per share (EPS) is 0.25 yuan, ranking 21st among peers, with an increase of 0.11 yuan compared to the same period last year, reflecting a 78.57% year-on-year growth [3] Operational Metrics - The total asset turnover ratio is reported at 0.10 times, while the inventory turnover ratio is at 0.55 times [3] - The number of shareholders is 21,500, with the top ten shareholders holding a total of 54.34 million shares, accounting for 46.31% of the total share capital [3]