Yangling Metron New Material (SZ:300861)2025-10-30 07:23Group 1: Financial Performance - In Q3 2025, the company's sales volume of diamond wire saw a quarter-on-quarter decline of 26.19% [5] - The total revenue for the first three quarters of 2025 was down 19.70% year-on-year, amounting to 1.57 billion [5] - Q3 2025 revenue was 5.1 billion, reflecting a 12.50% decrease from Q2 [5] - The net profit attributable to shareholders for the first three quarters was 724.4 million, with a 7.96% increase compared to the entire previous year [5][6] Group 2: Product and Market Insights - The proportion of tungsten wire diamond wire increased from approximately 50%-60% in Q2 to over 80% in Q3 [7] - The market share of the company currently stands between 40%-50% [8] - The price of tungsten wire decreased by about 5% compared to Q2 [9] Group 3: Cost and Supply Chain Management - Approximately 60%-70% of the cost of tungsten wire comes from raw tungsten materials, which have seen a price increase of about 66% since mid-year [8] - The company has not raised prices for tungsten wire diamond wire despite rising raw material costs, maintaining stable pricing for end customers [8] - The company has sufficient inventory from low-cost raw material purchases, which has supported operations during price fluctuations [9] Group 4: Strategic Initiatives - The company is focusing on technological iterations and service upgrades to enhance customer value [6] - A flat organizational transformation is underway, maintaining historically low labor costs [6] - The self-supply ratio of tungsten wire is expected to reach 50% by Q4 2025, with all expansion equipment installed and tested [9]