Core Viewpoint - Galaxy Electronics, established in 2000 and listed in 2010, is a significant player in the domestic smart digital TV multimedia terminal and electronic device precision structural components sector, with a full industry chain advantage [1] Group 1: Business Performance - In Q3 2025, Galaxy Electronics reported revenue of 332 million yuan, ranking 9th in the industry, significantly lower than the top competitor Inner Mongolia First Machinery's 7.894 billion yuan and the second competitor China Ordnance's 3.424 billion yuan [2] - The main business composition includes new energy products at 93.52 million yuan (45.43%), smart electromechanical products at 92.75 million yuan (45.06%), and others at 19.57 million yuan (9.51%) [2] - The net profit for the same period was -40.82 million yuan, ranking 11th in the industry, far behind the leading company Inner Mongolia First Machinery's 386 million yuan [2] Group 2: Financial Ratios - As of Q3 2025, the asset-liability ratio for Galaxy Electronics was 31.24%, higher than the previous year's 22.03% and slightly above the industry average of 31.06% [3] - The gross profit margin for Q3 2025 was 21.46%, down from 29.52% in the previous year and below the industry average of 27.85% [3] Group 3: Shareholder Information - As of September 30, 2025, the number of A-share shareholders decreased by 8.62% to 87,300, while the average number of circulating A-shares held per account increased by 9.43% to 12,800 [5] - Among the top ten circulating shareholders, Hong Kong Central Clearing Limited ranked as the fifth largest, holding 6.5267 million shares, an increase of 1.9672 million shares from the previous period [5] Group 4: Executive Compensation - The chairman, Wu Jianming, received a salary of 1.455 million yuan in 2024, unchanged from 2023 [4]

Core Insights - On September 24, Galaxy Electronics experienced a stock increase of 1.50%, with a trading volume of 87.28 million yuan [1] - The company reported a financing buy-in of 4.86 million yuan and a financing repayment of 5.33 million yuan, resulting in a net financing buy of -0.47 million yuan [1] - As of September 24, the total financing and securities balance for Galaxy Electronics was 215 million yuan, which is 4.03% of its circulating market value [1][2] Financing Overview - On the same day, the financing buy-in was 4.86 million yuan, with a current financing balance of 215 million yuan, which is below the 20th percentile level over the past year [1] - In terms of securities lending, there were no shares repaid or sold on September 24, with a remaining securities lending balance of 2,838 yuan, also below the 50th percentile level over the past year [1] Company Performance - As of June 30, the number of shareholders for Galaxy Electronics reached 95,500, an increase of 18.89% from the previous period [2] - The average number of circulating shares per person decreased by 15.82% to 11,711 shares [2] - For the first half of 2025, the company reported operating revenue of 206 million yuan, a year-on-year decrease of 59.73%, and a net profit attributable to shareholders of -28.82 million yuan, a decrease of 121.21% [2] Dividend and Shareholding - Since its A-share listing, Galaxy Electronics has distributed a total of 856 million yuan in dividends, with 225 million yuan distributed in the last three years [3] - As of June 30, 2025, Hong Kong Central Clearing Limited was the seventh largest circulating shareholder, holding 4.56 million shares, a decrease of 4.01 million shares from the previous period [3]