Core Insights - New World, established in November 1996 and listed on the Shanghai Stock Exchange in January 1993, is a well-known commercial enterprise in Shanghai, primarily engaged in department store and healthcare businesses, benefiting from brand and location advantages [1] Financial Performance - In Q3 2025, New World reported revenue of 791 million yuan, ranking 13th out of 22 in the industry, significantly lower than the top competitor Tianhong's 8.88 billion yuan and second-place Wangfujing's 7.71 billion yuan, as well as below the industry average of 1.87 billion yuan and median of 1.07 billion yuan [2] - The revenue breakdown shows that the healthcare sector contributed 266 million yuan (50.32%), commercial operations contributed 118 million yuan (22.40%), hotel services contributed 96.25 million yuan (18.23%), and other sectors contributed 36.22 million yuan (6.86%) [2] - The net profit for the same period was 64.28 million yuan, ranking 9th in the industry, with the top performer Hangzhou Jiebei earning 316 million yuan and the second East Hundred Group earning 162 million yuan, both exceeding the industry average of 39.28 million yuan and median of 53.55 million yuan [2] Financial Ratios - As of Q3 2025, New World's debt-to-asset ratio was 25.04%, up from 24.42% year-on-year, which is significantly lower than the industry average of 48.09%, indicating strong debt repayment capability [3] - The gross profit margin for the same period was 42.70%, an increase from 41.18% year-on-year, but still slightly below the industry average of 45.34% [3] Management Compensation - The total compensation for General Manager Shen Weimin was 922,500 yuan, reflecting an increase of 36,000 yuan year-on-year [4] Shareholder Information - As of September 30, 2025, the number of A-share shareholders decreased by 9.22% to 43,200, while the average number of circulating A-shares held per account increased by 10.15% to 15,000 [5] - Among the top ten circulating shareholders, the CSI Shanghai State-owned Enterprise ETF ranked as the ninth largest, holding 4.6278 million shares, a decrease of 595,000 shares from the previous period [5]