Company Overview - Haixing Co., Ltd. was established on January 8, 1998, and listed on the Shanghai Stock Exchange on August 9, 2019. The company is headquartered in Nantong, Jiangsu Province and is a leading enterprise in the domestic aluminum electrolytic capacitor electrode foil industry, possessing strong R&D capabilities and scale advantages [1] Financial Performance - As of Q3 2025, Haixing's operating revenue was 1.711 billion yuan, ranking 25th out of 31 in the industry, significantly lower than the industry leader, China Aluminum, with 176.516 billion yuan, and the second place, Innovation New Materials, with 58.716 billion yuan. The industry average revenue was 16.562 billion yuan, and the median was 5.83 billion yuan [2] - The net profit for the same period was 147 million yuan, ranking 16th in the industry, again far behind China Aluminum's 17.296 billion yuan and Yun Aluminum's 5.22 billion yuan. The net profit was in line with the industry median but below the average of 1.346 billion yuan [2] Financial Ratios - As of Q3 2025, Haixing's debt-to-asset ratio was 31.51%, an increase from 20.22% year-on-year, but still below the industry average of 46.20%, indicating good solvency and relatively low financial risk. The gross profit margin for the same period was 21.26%, slightly up from 21.02% year-on-year and significantly higher than the industry average of 10.69%, reflecting strong profitability [3] Executive Compensation - The chairman, Zhou Xiaobing, received a salary of 800,000 yuan in 2024, an increase of 115,200 yuan from 684,800 yuan in 2023. The general manager, Sun Xinming, earned 762,100 yuan in 2024, up by 110,100 yuan from 652,000 yuan in 2023 [4] Shareholder Information - As of September 30, 2025, the number of A-share shareholders increased by 14.57% to 14,900, while the average number of circulating A-shares held per shareholder decreased by 11.73% to 16,200. Notably, several funds exited the top ten circulating shareholders list [5]

Group 1 - The core point of the news is that Haixing Co., Ltd. has seen a stock price increase of 5.13%, reaching 19.26 CNY per share, with a total market capitalization of 4.659 billion CNY as of September 30 [1] - Haixing Co., Ltd. is primarily engaged in the research, production, and sales of aluminum electrolytic capacitor electrode foils, with its main business revenue composition being 95.29% from chemical foils, 4.35% from etched foils, and 0.35% from other sources [1] Group 2 - Nanhua Fund has a significant holding in Haixing Co., Ltd., with its Nanhua Fengrui Quantitative Stock Mixed A Fund (021995) holding 96,200 shares, accounting for 1.84% of the fund's net value, making it the eighth largest holding [2] - The Nanhua Fengrui Quantitative Stock Mixed A Fund has achieved a year-to-date return of 20.23%, ranking 4578 out of 8167 in its category [2] Group 3 - The fund manager of Nanhua Fengrui Quantitative Stock Mixed A Fund is Huang Zhigang, who has a tenure of 13 years and 195 days, with the fund's total asset size being 516 million CNY [3] - During Huang Zhigang's tenure, the best fund return was 196.59%, while the worst return was -28.86% [3]