---
title: "SANGANG MINGUANG (002110.SZ) — Financial Reports"
type: "Symbol"
locale: "en"
url: "https://longbridge.com/en/quote/002110.SZ/norm.md"
symbol: "002110.SZ"
name: "SANGANG MINGUANG"
parent: "https://longbridge.com/en/quote/002110.SZ.md"
datetime: "2026-05-20T16:53:26.313Z"
locales:
  - [en](https://longbridge.com/en/quote/002110.SZ/norm.md)
  - [zh-CN](https://longbridge.com/zh-CN/quote/002110.SZ/norm.md)
  - [zh-HK](https://longbridge.com/zh-HK/quote/002110.SZ/norm.md)
---

# SANGANG MINGUANG (002110.SZ) — Financial Reports

## Income Statement (CNY)

| Indicator | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 |
| --- | --- | --- | --- | --- | --- |
| EPS | -0.0400 | -0.0398 | 0.0200 | 0.0300 | 0.0300 |
| ROE | -1.98% | -3.20% | 0.95% | 1.29% | 1.57% |
| Revenue | 11.37B | 9.76B | 11.21B | 11.22B | 10.84B |
| Net income | -96.10M | -156.80M | 46.18M | 62.24M | 75.48M |
| Operating income | -63.01M | -58.46M | 113.37M | 174.18M | 193.46M |
| Gross margin | 3.71% | 4.18% | 8.21% | 7.88% | 5.82% |
| Net margin | -0.85% | -1.61% | 0.41% | 0.55% | 0.70% |
| Profit quality | - | -2.65% | 5.35% | 42.04% | -9.02% |

## Balance Sheet (CNY)

| Indicator | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 |
| --- | --- | --- | --- | --- | --- |
| A&L | 52.23B | 50.14B | 51.66B | 52.93B | 52.72B |
| Leverage | 2.67 | 2.54 | 2.60 | 2.71 | 2.71 |
| BVPS | 7.97 | 8.03 | 8.10 | 7.97 | 7.92 |
| Turnover | 0.8300 | 0.8455 | 0.8840 | 0.8539 | 0.8656 |
| Cash & STI | 6.43B | 5.84B | 7.04B | 7.61B | 6.73B |
| Inv & Rec | 3.40B | 2.98B | 2.71B | 2.68B | 3.31B |
| LT assets | 30.56B | 30.90B | 31.08B | 30.51B | 30.05B |
| Net debt | 14.95B | 13.90B | 13.93B | 15.09B | 15.52B |

## Cash Flow Statement (CNY)

| Indicator | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 |
| --- | --- | --- | --- | --- | --- |
| Operating CF | -668.64M | 2.20B | 2.12B | 414.26M | -2.15B |
| Investing CF | -708.08M | 688.91M | -34.66M | -716.87M | -996.82M |
| Financing CF | 960.85M | -2.36B | -2.49B | 520.62M | 1.44B |
| Free CF | -1.51B | 1.45B | 251.86M | 1.32B | -2.96B |
| OCF coverage | -8.08% | 78.36% | 22.16% | 12.33% | -19.50% |
| Repaid & issued | 9.07B | -11.00M | 6.70B | 3.46B | 12.01B |
| CapEx | -166.01M | -453.58M | -376.17M | -425.43M | -434.48M |

## Distribution Plan

**Dividend Yield**: 0.31

### Dividend History

| Description | Record Date | Ex-Date | Payment Date |
|-------------|-------------|---------|--------------|
| Cash Dividend: 
0.049541CNY | 2023-06-15 | 2023-06-16 | 2023-06-16 |
| Cash Dividend: 
0.812474CNY | 2022-06-09 | 2022-06-10 | 2022-06-10 |
| Cash Dividend: 
0.44587CNY | 2021-06-17 | 2021-06-18 | 2021-06-18 |