Core Insights - Haima Automobile, established in 1993 and listed in 1994, is one of the early players in hydrogen fuel cell vehicles in China, with a focus on R&D, manufacturing, sales, and services in the automotive sector [1] Financial Performance - For Q3 2025, Haima Automobile reported a revenue of 1.254 billion yuan, ranking 5th in the industry, significantly lower than the top player SAIC Motor's 461.224 billion yuan and Great Wall Motor's 153.582 billion yuan, with the industry average at 159.452 billion yuan [2] - The company's net profit for the same period was -159 million yuan, ranking 4th in the industry, again trailing behind SAIC Motor's 11.999 billion yuan and Great Wall Motor's 8.635 billion yuan, with the industry average at 3.37 billion yuan [2] Financial Ratios - As of Q3 2025, Haima Automobile's debt-to-asset ratio was 53.10%, down from 58.00% year-on-year and below the industry average of 55.83%, indicating relatively good debt repayment capability [3] - The gross profit margin for Q3 2025 was 6.47%, lower than the previous year's 8.17% and below the industry average of 9.25%, suggesting a need for improvement in profitability [3] Management and Shareholder Information - The chairman, Jing Zhu, has a stable annual salary of 900,000 yuan for 2024, unchanged from 2023 [4] - As of September 30, 2025, the number of A-share shareholders decreased by 1.83% to 91,000, while the average number of circulating A-shares held per shareholder increased by 1.86% to 18,000 [5]

Financial Performance - In 2024, the company's operating revenue was 1.775 billion yuan, a decrease of 30.28% compared to 2023 [1] - The net profit attributable to shareholders was -139.78 million yuan, an increase of 30.82% year-on-year [1] - The net profit excluding non-recurring items was -406.02 million yuan, a decrease of 25.74% year-on-year [1] - The basic earnings per share were -0.0850 yuan, showing an improvement of 30.84% from the previous year [1] Profitability Metrics - The gross profit margin for 2024 was 9.50%, an increase of 0.10% year-on-year [2] - The net profit margin was -15.57%, a decline of 7.75% compared to the previous year [2] - The company's period expenses totaled 501 million yuan, a decrease of 28.76 million yuan year-on-year, with a period expense ratio of 28.22%, up 7.41% from the previous year [2] Employee Statistics - The total number of employees at the company was 2,230, an increase of 215 employees or 10.67% year-on-year [5] - The compensation for directors, supervisors, and senior management in 2024 totaled 5.2819 million yuan, with the chairman receiving the highest salary of 900,000 yuan [5] Company Overview - The company is located in Haikou City, Hainan Province, and was established on January 26, 1993, with its listing date on August 8, 1994 [10] - The main business activities include research, development, manufacturing, sales, and service of automobiles and powertrains [10]