Core Viewpoint - *ST Fanli is a leading e-commerce platform in China focused on rebate services, with a diverse marketing model and a large user base [1] Financial Performance - In Q3 2025, *ST Fanli achieved a revenue of 315 million yuan, ranking 5th among 8 companies in the industry, with the industry leader, Xinhua Net, generating 1.306 billion yuan [2] - The company's net profit for the same period was -44.78 million yuan, placing it 8th in the industry, while the average net profit for the sector was 32.03 million yuan [2] Profitability and Debt Ratios - As of Q3 2025, *ST Fanli's asset-liability ratio was 28.07%, higher than the previous year's 19.77% and above the industry average of 25.25% [3] - The gross profit margin for the same period was 45.67%, which, although lower than the previous year's 48.28%, was still above the industry average of 44.58% [3] Executive Compensation - The chairman and general manager, Ge Yongchang, received a salary of 1.5467 million yuan in 2024, a decrease of 23,600 yuan from 2023 [4] Shareholder Information - As of September 30, 2025, the number of A-share shareholders decreased by 27.51% to 21,000, while the average number of circulating A-shares held per account increased by 37.20% to 19,800 [5]

Core Viewpoint - *ST Lingda, a company focused on photovoltaic power generation, is facing significant challenges in terms of revenue and profitability, ranking low within its industry while exhibiting high debt levels and low gross margins [1][2][3]. Financial Performance - In Q3 2025, *ST Lingda reported revenue of 89.09 million, ranking 13th among 13 companies in the industry, significantly lower than the industry leader's revenue of 4.101 billion and the second place at 3.855 billion [2] - The company's net profit for the same period was -128 million, placing it 12th in the industry, with the top performer achieving a net profit of 1.129 billion [2] Profitability and Debt - The asset-liability ratio for *ST Lingda in Q3 2025 was 172.63%, an increase from 112.74% year-on-year, and significantly higher than the industry average of 62.14% [3] - The gross margin for the company was -5.08%, although an improvement from -68.76% year-on-year, it remains below the industry average of 32.38% [3] Management Compensation - The total compensation for CEO Yang Xusheng was 397,800, a decrease of 64,200 from the previous year [4] Shareholder Information - As of September 30, 2025, the number of A-share shareholders increased by 2.40% to 10,000, while the average number of circulating A-shares held per shareholder decreased by 2.34% to 26,500 [5]

Core Viewpoint - *ST Yazhen is a well-known company in the domestic mid-to-high-end Haipai furniture sector, focusing on the research, production, and sales of mid-to-high-end Haipai furniture products [1] Group 1: Business Performance - In Q3 2025, *ST Yazhen reported revenue of 158 million yuan, ranking 17th in the industry, with the industry leader, Gujia Home, achieving revenue of 15.012 billion yuan [2] - The company's net profit for the same period was -32.96 million yuan, placing it 15th in the industry, while the industry leader reported a net profit of 1.602 billion yuan [2] Group 2: Financial Ratios - As of Q3 2025, *ST Yazhen's asset-liability ratio was 76.52%, significantly higher than the industry average of 45.64% [3] - The company's gross profit margin was 23.79%, lower than the industry average of 31.44% [3] Group 3: Shareholder Information - As of September 30, 2025, the number of A-share shareholders increased by 40.27% to 10,200, while the average number of circulating A-shares held per shareholder decreased by 28.71% to 25,700 [5] Group 4: Leadership - The chairman and general manager, Fan Weihao, holds a master's degree in economics and has previously worked in various companies before leading *ST Yazhen [4]

Core Viewpoint - *ST阳光 is a commercial real estate company with significant operational capabilities, but it faces challenges in revenue and profitability compared to industry leaders [1][2]. Group 1: Company Overview - *ST阳光 was established on June 7, 1996, and listed on the Shenzhen Stock Exchange on September 19, 1996, with its registered office in Nanning, Guangxi, and operational office in Shenzhen, Guangdong [1]. - The company focuses on commercial operation management, property leasing, and sales of residential and commercial properties, categorized under the real estate development sector [1]. Group 2: Financial Performance - For Q3 2025, *ST阳光 reported revenue of 252 million yuan, ranking last in the industry, significantly lower than the top competitor, China Merchants Shekou, which reported 89.77 billion yuan [2]. - The company's net profit was -66.33 million yuan, also ranking 7th out of 10, with a stark contrast to the leading competitor's profit of 3.60 billion yuan [2]. - The asset-liability ratio stood at 42.09%, lower than the industry average of 68.96%, indicating better debt management [2]. - The gross profit margin was 32.89%, higher than the industry average of 22.73%, although it decreased from 60.39% in the previous year [2]. Group 3: Management and Shareholder Information - The chairman, Chen Jiaxian, received a salary of 1.79 million yuan in 2024, while the president, Xiong Wei, earned 3.99 million yuan, a decrease from the previous year [3]. - As of September 30, 2025, the number of A-share shareholders decreased by 9.32% to 23,800, while the average number of shares held per shareholder increased by 10.28% to 31,300 [3].

Core Viewpoint - *ST Boda, a well-known mobile and smart device manufacturer in China, has been facing challenges in revenue and profit rankings within its industry, indicating potential areas for improvement in its business operations and market positioning [1][2]. Group 1: Business Overview - *ST Boda was established in July 1995 and listed on the Shanghai Stock Exchange in July 2000, with its headquarters in Ningbo, Zhejiang Province [1]. - The company specializes in traditional mobile phone and motherboard R&D, production, and sales, and has recently expanded into smart devices such as vehicle locators and facial recognition systems [1]. Group 2: Financial Performance - For Q3 2025, *ST Boda reported revenue of 329 million yuan, ranking 84th out of 88 in its industry, significantly lower than the top competitors, with the industry leader, Industrial Fulian, generating 603.93 billion yuan [2]. - The company's net profit for the same period was 4.50 million yuan, placing it 68th in the industry, again far behind leaders like Industrial Fulian, which reported a net profit of 22.52 billion yuan [2]. Group 3: Financial Ratios - As of Q3 2025, *ST Boda's debt-to-asset ratio was 13.41%, an increase from 9.90% the previous year, but still below the industry average of 44.84%, indicating lower debt pressure [3]. - The company's gross profit margin was 13.50%, slightly up from 13.36% year-on-year, but below the industry average of 19.47%, suggesting room for improvement in profitability [3]. Group 4: Executive Compensation - The chairman, Xu Lihua, received a salary of 80,000 yuan in 2024, an increase of 8,400 yuan from 2023 [4]. - The general manager, Zhang Zhangxuan, earned 1.0466 million yuan in 2024, a slight decrease from the previous year [4]. Group 5: Shareholder Information - As of September 30, 2025, the number of A-share shareholders decreased by 13.05% to 51,300, while the average number of circulating A-shares held per shareholder increased by 15.01% to 14,600 [5].

Core Viewpoint - *ST Yedao is a leading company in the health wine industry in China, facing significant challenges in revenue and profitability compared to its peers [1][2]. Group 1: Business Performance - In Q3 2025, *ST Yedao reported revenue of 178 million, ranking 7th in the industry, significantly lower than the top competitor, Bai Run Co., which had 2.27 billion [2]. - The main business composition includes liquor at 70.42 million (78.94%), food and beverage at 16.99 million (19.05%), and others at 1.79 million (2.01%) [2]. - The net profit for the same period was -8.31 million, ranking 6th in the industry, with a stark contrast to Bai Run Co.'s 549 million [2]. Group 2: Financial Ratios - As of Q3 2025, *ST Yedao's debt-to-asset ratio was 85.19%, an increase from 72.29% year-on-year, significantly higher than the industry average of 28.63% [3]. - The gross profit margin was 44.35%, up from 38.50% year-on-year but still below the industry average of 47.51% [3]. Group 3: Executive Compensation - The chairman, Duan Shouqi, received a salary of 684,100, an increase of 189,100 from the previous year [4]. Group 4: Shareholder Information - As of September 30, 2025, the number of A-share shareholders decreased by 0.11% to 45,900, while the average number of circulating A-shares held per account increased by 0.11% to 9,690.77 [5].

Core Viewpoint - *ST Huawang, established in 2003 and listed in 2016, operates in the landscape engineering sector with a focus on municipal, tourism, road, and real estate landscaping projects, alongside a minor flower seedling business [1] Group 1: Business Performance - In Q3 2025, *ST Huawang reported revenue of 189 million, ranking 16th in the industry, significantly lower than the top competitor Palm Holdings at 1.945 billion and second-place Mongcao Ecological at 1.63 billion, with the industry average at 492 million and median at 313 million [2] - The main business composition includes design revenue of 14.8616 million, accounting for 69.41%, and engineering revenue of 6.5166 million, accounting for 30.44%, with other revenues at 31.7 thousand, making up 0.15% [2] - The net profit for the same period was -36.2808 million, ranking 12th in the industry, with the top performer Huylv Ecological at 97.496 million and second-place Mongcao Ecological at 83.714 million, while the industry average was -108 million and median at -33.6433 million [2] Group 2: Financial Ratios - As of Q3 2025, *ST Huawang's debt-to-asset ratio was 68.84%, down from 85.18% year-on-year, but still above the industry average of 65.35%, indicating significant debt pressure [3] - The gross profit margin for Q3 2025 was 6.26%, an improvement from -1.42% year-on-year, yet still below the industry average of 11.95%, suggesting room for improvement in profitability [3] Group 3: Leadership - The company is led by Chairwoman Yu Yajun, who holds a Master's degree in Business Administration from Zhejiang University and has received numerous honors, including being recognized as a national model for women's contributions [4] - The General Manager, Liu Jianzhe, holds a PhD in condensed matter physics from Hunan University and has been involved in various technology projects, contributing to multiple patents and receiving several provincial and municipal awards [4] Group 4: Shareholder Information - As of September 30, 2025, the number of A-share shareholders increased by 5.73% to 18,300, while the average number of circulating A-shares held per account decreased by 5.42% to 27,200 [5]

Core Viewpoint - *ST Xingguang, established in 1992 and listed in 2006, operates in the lighting and lithium battery production equipment sectors, facing challenges in revenue and profitability compared to industry peers [1][2]. Group 1: Business Performance - In Q3 2025, *ST Xingguang achieved revenue of 169 million, ranking 14th among 14 companies in the industry, with the industry leader, Foshan Lighting, generating 6.532 billion [2]. - The company's net profit for the same period was 887,400, placing it 11th in the industry, while the top performer, Opple Lighting, reported a net profit of 578 million [2]. Group 2: Financial Ratios - As of Q3 2025, *ST Xingguang's debt-to-asset ratio was 61.75%, significantly higher than the industry average of 35.11%, indicating substantial debt pressure [3]. - The gross profit margin for the company was 32.18%, which, despite a decline from 37.40% year-on-year, remains above the industry average of 26.32% [3]. Group 3: Executive Compensation - Chairman Dai Junwei's salary decreased from 433,800 in 2023 to 237,900 in 2024, a reduction of 195,900 [4]. - General Manager Li Zhenjiang's salary slightly decreased from 176,500 in 2023 to 173,700 in 2024, a reduction of 2,800 [4]. Group 4: Shareholder Information - As of September 30, 2025, the number of A-share shareholders for *ST Xingguang was 46,100, reflecting a decrease of 1.84% from the previous period [5]. - The average number of circulating A-shares held per shareholder increased by 1.87% to 22,600 [5].

Core Viewpoint - *ST Dongyi, a well-known home decoration brand in China, has a strong market competitiveness with a full industry chain advantage, but faces challenges in profitability and high debt levels [1][3]. Financial Performance - In Q3 2025, *ST Dongyi reported revenue of 544 million yuan, ranking 14th among 23 companies in the industry, while the industry leader, Jianghe Group, had revenue of 14.554 billion yuan [2]. - The company's net profit for the same period was -53.81 million yuan, placing it 15th in the industry, with the average net profit for the sector being -21.42 million yuan [2]. Debt and Profitability - As of Q3 2025, *ST Dongyi's debt-to-asset ratio was 172.40%, significantly higher than the industry average of 76.84% [3]. - The gross profit margin for the company was 37.82%, which is above the industry average of 13.06% [3]. Executive Compensation - The chairman and general manager, Chen Hui, received a salary of 369,000 yuan in 2024, a decrease of 991,000 yuan from 2023 [4]. Shareholder Information - As of September 30, 2025, the number of A-share shareholders decreased by 3.66% to 12,100, while the average number of shares held per shareholder increased by 3.80% to 33,900 shares [5].

Core Viewpoint - *ST Modern, a company established in 2002 and listed in 2012, operates in the high-end men's clothing sector in China, combining self-owned brands and agency sales [1] Group 1: Business Performance - In Q3 2025, *ST Modern reported revenue of 478 million yuan, ranking 27th out of 38 in the industry, significantly lower than the top competitor, Hailan Home, with 15.599 billion yuan, and the industry average of 2.251 billion yuan [2] - The main business composition includes cable accessories and related businesses at 90.93 million yuan (38.70%), self-owned brand apparel at 56.48 million yuan (24.04%), other business income at 51.86 million yuan (22.07%), and agency brand apparel at 35.68 million yuan (15.19%) [2] - The net profit for the period was -34.60 million yuan, ranking 30th in the industry, far behind the leading company, Youngor, with 2.334 billion yuan [2] Group 2: Financial Ratios - As of Q3 2025, *ST Modern's debt-to-asset ratio was 42.89%, higher than the previous year's 31.12% and above the industry average of 38.41% [3] - The gross profit margin for Q3 2025 was 24.61%, significantly lower than the previous year's 66.12% and below the industry average of 44.68% [3] Group 3: Management - The controlling shareholder is Guangzhou Puhuiyuan Trading Co., Ltd., with Wang Liping as the actual controller and chairman, who has extensive experience in various corporate roles [4] - The general manager, Han Sumaio, has been with the company since January 2025 and has a background in accounting and engineering [4] Group 4: Shareholder Information - As of September 30, 2025, the number of A-share shareholders decreased by 4.92% to 9,397, while the average number of circulating A-shares held per account increased by 5.17% to 72,000 [5] - The largest circulating shareholder is Hengtai Securities, holding 67.1322 million shares, unchanged from the previous period [5]