Core Viewpoint - Henghua Technology is a leading provider of information services for smart grids in China, leveraging a combination of information technology and IoT technology to offer integrated and specialized services throughout the entire lifecycle of smart grids [1] Group 1: Business Performance - In Q3 2025, Henghua Technology reported revenue of 497 million yuan, ranking 48th among 102 companies in the industry, with the top company, Shanghai Steel Union, achieving revenue of 57.318 billion yuan [2] - The net profit for the same period was 7.1688 million yuan, placing the company 43rd in the industry, while the leading company, Desay SV, reported a net profit of 1.805 billion yuan [2] Group 2: Financial Ratios - As of Q3 2025, Henghua Technology's debt-to-asset ratio was 22.12%, an increase from 12.94% in the previous year, and lower than the industry average of 31.94%, indicating strong debt repayment capability [3] - The company's gross profit margin for Q3 2025 was 27.20%, down from 31.74% year-on-year, and below the industry average of 41.71%, suggesting a need for improvement in profitability [3] Group 3: Executive Compensation - The chairman, Jiang Chunhua, received a salary of 993,200 yuan in 2024, a decrease of 103,300 yuan from 2023 [4] Group 4: Shareholder Information - As of September 30, 2025, the number of A-share shareholders in Henghua Technology decreased by 0.15% to 29,800, while the average number of circulating A-shares held per shareholder increased by 0.15% to 17,100 [5]