Core Viewpoint - Zhongmi Holdings' stock price has shown a positive trend with a 4.06% increase year-to-date and an 8.00% rise over the last five trading days, indicating strong market performance and investor interest [1][2]. Company Overview - Zhongmi Holdings, established on September 29, 1993, and listed on June 12, 2015, is located in Chengdu, Sichuan Province. The company specializes in the design, research and development, manufacturing, and sales of various mechanical seals, providing comprehensive technical services [1]. - The company's revenue composition includes: mechanical seals (31.09%), dry gas seals and control systems (24.36%), rubber and plastic seals (12.58%), auxiliary systems for mechanical seals (11.01%), special valves (7.14%), seal product repair (4.94%), other products (4.33%), spare parts (4.22%), and others (0.34%) [1]. Financial Performance - For the period from January to September 2025, Zhongmi Holdings reported a revenue of 1.283 billion yuan, reflecting a year-on-year growth of 12.30%. The net profit attributable to shareholders was 278 million yuan, with a year-on-year increase of 2.71% [2]. - The company has distributed a total of 919 million yuan in dividends since its A-share listing, with 617 million yuan distributed over the past three years [3]. Shareholder Information - As of September 30, 2025, Zhongmi Holdings had 18,200 shareholders, an increase of 22.36% from the previous period. The average circulating shares per person decreased by 18.36% to 10,865 shares [2]. - Among the top ten circulating shareholders, Hong Kong Central Clearing Limited is the second-largest, holding 13.7867 million shares, a decrease of 5.7366 million shares from the previous period. The fourth-largest shareholder, Fortune Tianhui Growth Mixed Fund (LOF) A/B, holds 6.0994 million shares, down by 3.9006 million shares [3].

Group 1 - The core point of the news is that Zhongmi Holdings experienced a decline of 5.08% in stock price, reaching 34.97 yuan per share, with a trading volume of 256 million yuan and a turnover rate of 3.68%, resulting in a total market capitalization of 7.272 billion yuan [1] - Zhongmi Holdings, established on September 29, 1993, and listed on June 12, 2015, is based in Chengdu, Sichuan Province. The company specializes in the design, research and development, manufacturing, and sales of various mechanical seals, providing comprehensive technical services including consulting, training, installation, and maintenance [1] - The revenue composition of Zhongmi Holdings includes: mechanical seals (31.09%), dry gas seals and control systems (24.36%), rubber and plastic seals (12.58%), auxiliary systems for mechanical seals (11.01%), special valves (7.14%), seal product repair (4.94%), other products (4.33%), spare parts (4.22%), and others (0.34%) [1] Group 2 - From the perspective of major fund holdings, one fund under Changjiang Asset Management has a significant position in Zhongmi Holdings. Changjiang Xuri Mixed A (021015) held 94,000 shares in the third quarter, accounting for 3.97% of the fund's net value, making it the third-largest holding. The estimated floating loss today is approximately 175,800 yuan [2] - Changjiang Xuri Mixed A (021015) was established on July 24, 2024, with a latest scale of 83.833 million yuan. Year-to-date return is 24.65%, ranking 4092 out of 8152 in its category; the one-year return is 28.65%, ranking 3232 out of 8038; and the return since inception is 44.36% [2]

Group 1 - The core point of the news is that Zhongmi Holdings experienced a decline of 5.08% in its stock price, reaching 34.97 CNY per share, with a trading volume of 256 million CNY and a turnover rate of 3.68%, resulting in a total market capitalization of 7.272 billion CNY [1] - Zhongmi Holdings, established on September 29, 1993, and listed on June 12, 2015, is based in Chengdu, Sichuan Province. The company specializes in the design, research and development, manufacturing, and sales of various mechanical seals, providing comprehensive technical services including consulting, training, installation, and maintenance [1] - The revenue composition of Zhongmi Holdings includes: mechanical seals (31.09%), dry gas seals and control systems (24.36%), rubber and plastic seals (12.58%), auxiliary systems for mechanical seals (11.01%), special valves (7.14%), seal product repair (4.94%), other products (4.33%), spare parts (4.22%), and others (0.34%) [1] Group 2 - Among the top ten circulating shareholders of Zhongmi Holdings, a fund under the Fortune Fund ranks first. The Fortune Tianhui Growth Mixed Fund (LOF) A/B (161005) reduced its holdings by 3.9006 million shares in the third quarter, now holding 6.0994 million shares, which accounts for 3.09% of the circulating shares. The estimated floating loss today is approximately 11.4059 million CNY [2] - The Fortune Tianhui Growth Mixed Fund (LOF) A/B (161005) was established on November 16, 2005, with a latest scale of 22.661 billion CNY. Year-to-date returns are 17.51%, ranking 4984 out of 8152 in its category; the one-year return is 15.43%, ranking 5016 out of 8038; and since inception, the return is 1670.51% [2]

Core Insights - The company reported a revenue of 1.283 billion yuan for the first three quarters of 2025, representing a year-on-year growth of 12.30% [1] - The net profit attributable to shareholders was 278 million yuan, with a year-on-year increase of 2.71% [1] - The basic earnings per share stood at 1.35 yuan [1] Financial Performance - The gross profit margin for the first three quarters was 44.01%, a decrease of 3.60 percentage points year-on-year [1] - The net profit margin was 21.70%, down 2.07 percentage points compared to the same period last year [1] - In Q3 2025, the gross profit margin was 43.96%, showing a year-on-year decline of 4.46% but a quarter-on-quarter increase of 0.30% [1] - The net profit margin for Q3 was 21.33%, down 2.09 percentage points year-on-year but up 0.48 percentage points from the previous quarter [1] Expense Analysis - The total operating expenses for the company were 248 million yuan, an increase of 18.065 million yuan year-on-year [2] - The expense ratio was 19.34%, a decrease of 0.80 percentage points from the previous year [2] - Sales expenses increased by 1.06%, management expenses rose by 22.35%, and R&D expenses grew by 11.36% [2] - Financial expenses saw a significant decrease of 585.41% [2] Shareholder Information - As of the end of Q3 2025, the total number of shareholders was 18,200, an increase of 3,318 from the end of the previous half-year, representing a growth of 22.36% [2] - The average market value per shareholder decreased from 515,700 yuan to 416,400 yuan, a decline of 19.26% [2] Company Overview - The company is located in Chengdu, Sichuan Province, and was established on September 29, 1993, with its listing date on June 12, 2015 [2] - The main business involves the design, research and development, manufacturing, and sales of various mechanical seals, along with providing comprehensive technical services [2] - The revenue composition includes mechanical seals (31.09%), dry gas seals and control systems (24.36%), rubber and plastic seals (12.58%), and other related products [2] Industry Classification - The company belongs to the mechanical equipment sector, specifically in general equipment and other general equipment categories [3] - It is associated with various concept sectors, including small-cap, marine economy, pension concepts, value growth, and military-civilian integration [3]

Core Viewpoint - Zhongmi Holdings experienced a decline in stock price, with a current trading price of 36.82 CNY per share and a market capitalization of 7.657 billion CNY [1] Stock Performance - Year-to-date stock price decreased by 1.02% - Stock price increased by 2.05% over the last 5 trading days - Stock price decreased by 5.25% over the last 20 trading days - Stock price decreased by 0.19% over the last 60 trading days [2] Company Overview - Zhongmi Holdings, established on September 29, 1993, and listed on June 12, 2015, is located in Chengdu, Sichuan Province - The company specializes in the design, research and development, manufacturing, and sales of various mechanical seals, providing comprehensive technical services [2] - Revenue composition includes: - Mechanical seals: 31.09% - Dry gas seals and control systems: 24.36% - Rubber and plastic seals: 12.58% - Auxiliary systems for mechanical seals: 11.01% - Special valves: 7.14% - Seal product repair: 4.94% - Other products: 4.33% - Spare parts: 4.22% - Other (supplementary): 0.34% [2] Financial Performance - For the first half of 2025, Zhongmi Holdings achieved revenue of 858 million CNY, representing a year-on-year growth of 18.45% - The net profit attributable to shareholders was 187 million CNY, with a year-on-year growth of 8.10% [2] Shareholder Information - As of June 30, 2025, the number of shareholders decreased by 15.39% to 14,800 - The average circulating shares per person increased by 18.32% to 13,308 shares [2] - The company has distributed a total of 919 million CNY in dividends since its A-share listing, with 617 million CNY distributed in the last three years [3] Institutional Holdings - As of June 30, 2025, Hong Kong Central Clearing Limited is the second-largest circulating shareholder, holding 19.5233 million shares, an increase of 690,100 shares from the previous period - Fu Guo Tian Hui Growth Mixed Fund (LOF) A/B remains the third-largest circulating shareholder, holding 10 million shares, unchanged from the previous period [3]

Core Viewpoint - The stock price of Zhongmi Holdings has shown fluctuations, with a recent decline of 2.02% on September 3, 2023, while the company has experienced a year-to-date increase of 4.06% [1][2]. Company Overview - Zhongmi Holdings, established on September 29, 1993, and listed on June 12, 2015, is located in Chengdu, Sichuan Province. The company specializes in the design, research and development, manufacturing, and sales of various mechanical seals, providing comprehensive technical services [2]. - The main business revenue composition includes: mechanical seals (30.17%), dry gas seals and control systems (26.59%), rubber and plastic seals (11.24%), special valves (8.90%), auxiliary systems for mechanical seals (8.68%), seal product repair (5.49%), spare parts (4.99%), and others (3.27%) [2]. Financial Performance - For the first half of 2025, Zhongmi Holdings achieved operating revenue of 858 million yuan, representing a year-on-year growth of 18.45%. The net profit attributable to the parent company was 187 million yuan, with a year-on-year increase of 8.10% [2]. - Since its A-share listing, Zhongmi Holdings has distributed a total of 815 million yuan in dividends, with 513 million yuan distributed over the past three years [3]. Shareholder Information - As of June 30, 2025, the number of shareholders for Zhongmi Holdings was 14,800, a decrease of 15.39% from the previous period. The average circulating shares per person increased by 18.32% to 13,308 shares [2]. - The top ten circulating shareholders include Hong Kong Central Clearing Limited as the second-largest shareholder, holding 19.52 million shares, an increase of 690,100 shares from the previous period [3].

Core Insights - The company, Zhongmi Holdings, has celebrated its 10th anniversary since its listing on June 12, 2015, with a market capitalization growth from 2.657 billion yuan to 7.627 billion yuan, indicating not only scale expansion but also continuous accumulation of technical strength [1][5] - The company has maintained a stable growth momentum in recent years, despite the overall market fluctuations [1] Business Overview - Zhongmi Holdings specializes in the design, research and development, manufacturing, and sales of various mechanical seals, providing comprehensive technical services including consulting, training, installation, and maintenance [3] - The main products include mechanical seals and dry gas seals along with control systems, with mechanical seals accounting for the highest revenue share at 30.17%, followed by dry gas seals and control systems at 26.59% [3] Financial Performance - In 2015, the company achieved a net profit attributable to shareholders of 82 million yuan, which increased to 392 million yuan by the end of the latest complete fiscal year in 2024, representing a cumulative profit growth of 378.08% [3] - The company has not reported any losses in the past ten years, with net profit growth occurring in 8 out of those years, equating to an 80% success rate [3] - Revenue has shown steady growth, increasing from 924 million yuan in 2020 to 1.567 billion yuan in 2024, with a double-digit compound annual growth rate [3] - Net profit has also shown an upward trend, rising from 211 million yuan in 2020 to 392 million yuan in 2024, with the most significant increase occurring in 2021 [3] Market Capitalization - Since its listing, Zhongmi Holdings' market capitalization has increased by 1.87 times, reflecting investor confidence in the company's long-term development [5] - The peak market capitalization reached 11.419 billion yuan on February 18, 2021, with the stock price rising to 54.85 yuan, while the latest closing price on June 11 was 36.64 yuan, resulting in a current market capitalization of 7.627 billion yuan [5][6] - Compared to its peak, the market capitalization has decreased by 3.792 billion yuan, representing a 33.20% decline [6]