Core Viewpoint - Liansheng Chemical, established in 2007 and listed in 2022, is a leading fine chemical manufacturer in China, focusing on pharmaceutical and agricultural intermediates, with a full industry chain advantage [1] Group 1: Business Performance - In Q3 2025, Liansheng Chemical reported revenue of 506 million, ranking 56th among 79 companies in the industry, while the industry leader, Sinochem International, achieved revenue of 35.716 billion [2] - The net profit for the same period was 13.7671 million, placing the company 53rd in the industry, with the top performer, Hangyang Co., reporting a net profit of 850 million [2] Group 2: Financial Ratios - As of Q3 2025, Liansheng Chemical's debt-to-asset ratio was 20.98%, an increase from 16.90% year-on-year, which is below the industry average of 34.74% [3] - The gross profit margin for Q3 2025 was 10.84%, slightly up from 10.29% year-on-year, but still below the industry average of 19.93% [3] Group 3: Executive Compensation - The chairman, Mu Jianyu, received a salary of 507,700, a decrease of 900 from the previous year, while the general manager, Yu Kuai, earned 919,200, down 3,600 from 2023 [4] Group 4: Shareholder Information - As of September 30, 2025, the number of A-share shareholders decreased by 16.41% to 7,270, while the average number of circulating A-shares held per account increased by 19.63% to 12,900 [5]

Company Overview - Founded on May 28, 2003, and listed on the Shanghai Stock Exchange on August 6, 2020, the company is a leading player in the field of thrombus and hemostasis in vitro diagnostics in China, possessing a full industry chain advantage [1] - The company primarily engages in the research, development, production, and sales of diagnostic instruments, reagents, and consumables related to thrombus and hemostasis [1] Financial Performance - For Q3 2025, the company's revenue was 196 million, ranking 33rd out of 39 in the industry, while the net profit was approximately 64.5 million, ranking 13th out of 39 [2] - The industry leader, New Industries, reported revenue of 3.43 billion, and the second leader, Antu Bio, reported revenue of 3.13 billion, with the industry average revenue being 708 million and the median at 330 million [2] - The net profit of the industry leader, Ji'an Medical, was 1.59 billion, and the second leader, New Industries, had a net profit of 1.21 billion, with the industry average net profit at 110 million and the median at 26.19 million [2] Financial Ratios - As of Q3 2025, the company's debt-to-asset ratio was 4.67%, down from 5.25% in the previous year, which is significantly lower than the industry average of 18.29% [3] - The gross profit margin for Q3 2025 was 62.22%, slightly up from 62.13% in the previous year, and higher than the industry average of 56.20% [3] Executive Compensation - The chairman, Wu Shiming, received a salary of 1.12 million in 2024, a decrease of 2,300 from 2023 [4] - The general manager, Wang Hai, earned 450,200 in 2024, also a decrease of 2,300 from the previous year [4] Shareholder Information - As of September 30, 2025, the number of A-share shareholders increased by 3.44% to 7,012, while the average number of circulating A-shares held per account decreased by 3.32% to 15,100 [5]

Company Overview - Ning Shui Group was established on January 1, 1958, and listed on the Shanghai Stock Exchange on January 22, 2019. The company is a leading manufacturer of water meters in China, focusing on the research, production, and sales of mechanical and smart water meters, with a strong technical foundation and full industry chain advantages [1] Financial Performance - As of Q3 2025, Ning Shui Group reported revenue of 1.202 billion yuan, ranking 10th among 61 companies in the industry. The top competitor, Chuan Yi Co., achieved 4.89 billion yuan in revenue, while the industry average was 655 million yuan [2] - The net profit for the same period was 75.267 million yuan, placing the company 20th in the industry. The leading company, Chuan Yi Co., had a net profit of 469 million yuan, with the industry average at 58.967 million yuan [2] Financial Ratios - The company's debt-to-asset ratio as of Q3 2025 was 32.03%, an increase from 28.64% in the previous year and above the industry average of 27.43% [3] - The gross profit margin for the same period was 20.58%, down from 22.10% year-on-year and below the industry average of 43.50% [3] Executive Compensation - The chairman, Zhang Lin, received a salary of 751,400 yuan in 2024, a decrease of 139,100 yuan from 2023. The general manager, Chen Xiang, earned 1,285,700 yuan, an increase of 6,000 yuan from the previous year [4] Shareholder Information - As of September 30, 2025, the number of A-share shareholders decreased by 18.22% to 14,900, while the average number of circulating A-shares held per shareholder increased by 22.27% to 13,600 [5] Future Outlook - According to Yongxing Securities, Ning Shui Group's performance in Q1 2025 was stable, with revenue of 266 million yuan, a year-on-year increase of 5.85%, and a net profit of 28 million yuan, up 141.62% year-on-year, primarily due to the disposal of a subsidiary. The company is expected to achieve revenues of 1.709 billion, 1.979 billion, and 2.329 billion yuan from 2025 to 2027, with corresponding net profits of 62 million, 73 million, and 88 million yuan [6]

Core Viewpoint - Zhejiang Mining Co., Ltd. is a leading supplier of crushing and screening equipment in China, with strong R&D and production capabilities, and was listed on the Shenzhen Stock Exchange in June 2020 [1] Financial Performance - For Q3 2025, Zhejiang Mining reported revenue of 469 million yuan, ranking 40th among 58 companies in the industry, while the industry leader, Zhongchuang Zhiling, had revenue of 30.745 billion yuan [2] - The company's net profit for the same period was 58.54 million yuan, ranking 34th in the industry, with the top performer, Zhongchuang Zhiling, reporting a net profit of 3.705 billion yuan [2] Financial Ratios - As of Q3 2025, Zhejiang Mining's debt-to-asset ratio was 35.53%, lower than the previous year's 36.64% and below the industry average of 46.18%, indicating good solvency [3] - The company's gross profit margin was 33.28%, slightly lower than the previous year's 33.28% but higher than the industry average of 26.77%, reflecting a competitive advantage in profitability [3] Executive Compensation - The chairman, Chen Lihua, received a salary of 468,000 yuan in 2024, unchanged from 2023 [4] Shareholder Information - As of September 30, 2025, the number of A-share shareholders increased by 0.54% to 7,796, while the average number of shares held per shareholder decreased by 2.89% to 8,839.69 shares [5]

Core Viewpoint - ST Huaming is a well-known enterprise in the automatic ticketing system field in China, focusing on the research, production, and sales of related equipment, with certain technological advantages [1] Group 1: Business Performance - In Q3 2025, ST Huaming's revenue was 513 million yuan, ranking 37th out of 63 in the industry, significantly lower than the industry leader, Inspur Information, which had 120.67 billion yuan, and the second place, Nasda, with 14.50 billion yuan [2] - The net profit for the same period was -2.40 million yuan, ranking 41st out of 63, with a substantial gap compared to the industry leaders, Inspur Information at 1.49 billion yuan and Newland at 1.03 billion yuan [2] Group 2: Financial Ratios - As of Q3 2025, ST Huaming's debt-to-asset ratio was 29.32%, slightly down from 29.57% year-on-year, and lower than the industry average of 34.38%, indicating good solvency [3] - The gross profit margin for Q3 2025 was 31.21%, up from 26.43% year-on-year, but still below the industry average of 34.46% [3] Group 3: Shareholder Information - As of September 30, 2025, the number of A-share shareholders decreased by 56.69% to 11,700, while the average number of circulating A-shares held per account increased by 133.09% to 11,800 [5] Group 4: Executive Compensation - The chairman, Zhang Liang, received a salary of 416,000 yuan in 2024, an increase of 3,000 yuan from 2023 [4]

Company Overview - Helit Technology was established on November 15, 2000, and listed on the Shanghai Stock Exchange on December 4, 2017. The company is located in Zhejiang and is a quality enterprise in the automotive mold and aluminum alloy parts sector, possessing strong R&D and manufacturing capabilities [1] Financial Performance - In Q3 2025, Helit Technology reported revenue of 498 million yuan, ranking 46th among 55 companies in the industry. The top company, Zhongding Co., had revenue of 14.555 billion yuan, while the industry average was 2.15 billion yuan and the median was 1.283 billion yuan [2] - The net profit for the same period was 24.65 million yuan, placing the company 42nd in the industry. The leading company, Zhongding Co., reported a net profit of 1.305 billion yuan, with the industry average at 129 million yuan and the median at 78.31 million yuan [2] Financial Ratios - As of Q3 2025, Helit Technology's debt-to-asset ratio was 18.87%, up from 16.75% in the previous year, which is below the industry average of 40.56% [3] - The company's gross profit margin for Q3 2025 was 20.08%, slightly up from 19.86% year-on-year, but still below the industry average of 21.56% [3] Executive Compensation - The chairman, Shi Dingwei, received a salary of 520,200 yuan in 2024, unchanged from 2023. The general manager, Shi Liangcai, also received a salary of 520,200 yuan, a slight decrease from 520,800 yuan in 2023 [4] Shareholder Information - As of September 30, 2025, the number of A-share shareholders for Helit Technology was 20,000, a decrease of 5.37% from the previous period. The average number of circulating A-shares held per shareholder increased by 5.67% to 10,200 shares [5]

Core Viewpoint - Zhongyuan Home Furnishing, a well-known furniture manufacturer in China, faces challenges in revenue and profitability compared to its industry peers, with a significant increase in shareholder accounts indicating growing interest in the company [2][5]. Group 1: Company Overview - Zhongyuan Home Furnishing was established on November 16, 2001, and listed on the Shanghai Stock Exchange on February 8, 2018, with its headquarters in Zhejiang Province [1]. - The company specializes in the research, production, and sales of sofas and other furniture products, with strong R&D and manufacturing capabilities [1]. Group 2: Financial Performance - In Q3 2025, Zhongyuan Home Furnishing achieved a revenue of 1.125 billion yuan, ranking 13th among 17 companies in the industry, while the industry leader, Gujia Home Furnishing, reported revenue of 15.012 billion yuan [2]. - The company incurred a net loss of 17.44 million yuan in the same period, placing it 14th in net profit rankings, with the industry average net profit being 27.8 million yuan [2]. Group 3: Financial Ratios - As of Q3 2025, Zhongyuan Home Furnishing's debt-to-asset ratio was 59.28%, which, although a decrease from 60.29% year-on-year, remains above the industry average of 45.64% [3]. - The gross profit margin for the company was 21.33%, slightly down from 21.90% year-on-year and below the industry average of 31.44% [3]. Group 4: Management and Shareholder Information - The chairman and general manager, Cao Yong, received a salary of 906,400 yuan in 2024, a decrease of 39,800 yuan from the previous year [4]. - As of September 30, 2025, the number of A-share shareholders increased by 44.92% to 10,100, while the average number of circulating A-shares held per account decreased by 30.82% [5].

Core Insights - Nongsin Technology, established in June 2006 and listed on the Shenzhen Stock Exchange in August 2022, specializes in the research, production, and sales of pesticide formulations, benefiting from a full industry chain advantage [1] Financial Performance - For Q3 2025, Nongsin Technology reported revenue of 550 million yuan, ranking 29th among 32 companies in the industry. The top company, Adama Agricultural Solutions, had revenue of 21.678 billion yuan, while the industry average was 3.784 billion yuan [2] - The net profit for the same period was 36.4392 million yuan, placing the company 20th in the industry. The leading company, Yangnong Chemical, reported a net profit of 1.056 billion yuan, with the industry average at 171 million yuan [2] Financial Ratios - As of Q3 2025, Nongsin Technology's debt-to-asset ratio was 31.67%, down from 33.15% year-on-year and below the industry average of 46.06%, indicating strong solvency [3] - The gross profit margin for Q3 2025 was 28.10%, lower than the previous year's 33.05% but higher than the industry average of 21.70%, reflecting solid profitability [3] Management Compensation - The chairman, Zheng Jingmin, received a salary of 456,100 yuan in 2024, an increase of 21,200 yuan from 2023 [4] Shareholder Information - As of September 30, 2025, the number of A-share shareholders increased by 2.27% to 9,275, while the average number of circulating A-shares held per shareholder decreased by 2.22% to 5,380.59 [5]

Core Viewpoint - ST Zhiyun, established in 1999 and listed in 2010, operates in the domestic complete intelligent equipment sector, possessing certain technological advantages and scarcity in the market [1] Group 1: Business Performance - In Q3 2025, ST Zhiyun reported revenue of 132 million, ranking 25th in the industry, significantly lower than the top competitor Bozhong Precision's 3.653 billion and second-place Yihua's 2.197 billion, as well as below the industry average of 726 million and median of 501 million [2] - The company's net profit for the same period was -112 million, also ranking 25th, with a substantial gap compared to the industry leaders, and below the industry average of 44.54 million and median of 9.16 million [2] Group 2: Financial Ratios - As of Q3 2025, ST Zhiyun's debt-to-asset ratio was 49.05%, an increase from 37.25% year-on-year, and above the industry average of 35.98% [3] - The gross profit margin for Q3 2025 was 13.38%, a significant decline from 41.21% in the previous year, and lower than the industry average of 33.21% [3] Group 3: Executive Compensation - The chairman and general manager, Shi Liquan, received a salary of 3.3784 million in 2024, a decrease of 28,500 from 3.4069 million in 2023 [4] Group 4: Shareholder Information - As of September 30, 2025, the number of A-share shareholders decreased by 12.57% to 15,900, while the average number of circulating A-shares held per account increased by 14.37% to 17,000 [5]

经营业绩：营收行业第六，净利润第十六 2025年三季度，金埔园林实现营业收入4.79亿元，在行业22家公司中排名第6，行业第一名棕榈股份营收 19.45亿元，第二名蒙草生态营收16.3亿元，行业平均数为4.92亿元，中位数为3.13亿元。净利润方面，当 期为 - 8913.05万元，行业排名16/22，行业第一名汇绿生态净利润9749.6万元，第二名蒙草生态净利润 8371.4万元，行业平均数为 - 1.08亿元，中位数为 - 3364.33万元。 资产负债率低于同业平均，毛利率高于同业平均 金埔园林成立于1998年6月26日，于2021年11月12日在深圳证券交易所上市，注册地和办公地均位于江苏 省南京市。该公司是国内园林工程领域的企业，核心业务涵盖园林绿化建设项目的设计、施工以及苗木花 卉种植与销售，具备专业的设计与施工能力。 公司主营业务为园林绿化建设项目的设计、施工以及苗木花卉种植与销售业务，所属申万行业为建筑装饰 - 基础建设 - 园林工程，涉及新型城镇化、微盘股、PPP概念、核聚变、超导概念、核电等概念板块。 图：金埔园林营收及增速 偿债能力方面，2025年三季度金埔园林资产负债率为61.95%， ...