Core Viewpoint - The report indicates that Luxshare Precision achieved a net profit of 11.518 billion yuan for the first three quarters of 2025, representing a year-on-year growth of 26.92% [1] - In Q3 alone, the net profit reached 4.874 billion yuan, showing a year-on-year increase of 32.49% and a quarter-on-quarter growth of 35.35% [1] - The company has completed acquisitions of related assets from Lany and Wentai ODM/OEM, leading to robust growth across its three main business segments [1] Financial Performance - For the first three quarters of 2025, the net profit attributable to shareholders was 11.518 billion yuan, up 26.92% year-on-year [1] - In Q3, the net profit was 4.874 billion yuan, reflecting a 32.49% increase year-on-year and a 35.35% increase quarter-on-quarter [1] Business Development - The company has successfully integrated its acquisitions and is leveraging vertical integration, resource sharing, and smart manufacturing to optimize its operations [1] - The automotive and communication/data center segments are experiencing rapid and high-quality growth, contributing to the overall performance [1] Future Outlook - Luxshare Precision has issued a full-year performance forecast for 2025, indicating an expected increase in overall performance [1] - The automotive business is seeing an optimized customer structure and a steady rise in product orders, showcasing significant growth potential for the future [1] - The report initiates coverage with a "Buy" rating, highlighting the acceleration of new growth drivers across the three business segments [1]

Core Insights - Lixun Precision's stock price increased by 2.09% on November 18, reaching 57.73 CNY per share, with a trading volume of 3.56 billion CNY and a market capitalization of 420.396 billion CNY [1] - The company has seen a year-to-date stock price increase of 42.33%, with a recent 5-day increase of 2.20% and a 20-day decrease of 5.59% [1] - Lixun Precision's main business focuses on the research, production, and sales of connectors, primarily serving the 3C (computer, communication, consumer electronics), automotive, and communication equipment sectors [1] Financial Performance - For the period from January to September 2025, Lixun Precision achieved a revenue of 220.915 billion CNY, representing a year-on-year growth of 24.69%, and a net profit attributable to shareholders of 11.518 billion CNY, up 26.92% year-on-year [2] - The company has distributed a total of 7.652 billion CNY in dividends since its A-share listing, with 4.530 billion CNY distributed over the past three years [2] Shareholder Structure - As of September 30, 2025, the top ten circulating shareholders of Lixun Precision include Hong Kong Central Clearing Limited as the second-largest shareholder with 428 million shares, an increase of 84.421 million shares from the previous period [3] - Other notable shareholders include Huatai-PB CSI 300 ETF and China Securities Finance Corporation, with varying changes in their holdings [3]

Core Viewpoint - The company Keg Precision Machinery has established a strong brand advantage and quality customer base in the electronic assembly segment, serving major industry players. Group 1: Company Overview - Keg Precision Machinery's products, including solder paste printing equipment, dispensing equipment, and flexible automation equipment, are widely used in the electronic assembly process [1] - The company has accumulated a quality customer base, including leading enterprises such as Foxconn, Luxshare Precision, Huawei, BYD, BOE, and Hikvision [1] - Keg Precision Machinery owns the globally registered trademark "GKG" and sells products to over 50 countries and regions [1] Group 2: Global Presence and Support - The company has established overseas service points in electronic industry concentrated areas such as Malaysia, Vietnam, India, and Mexico through its Singapore subsidiary GKGASIA [1] - This expansion aims to enhance local technical support capabilities [1]

11月17日，立讯精密涨0.07%，成交额42.06亿元。两融数据显示，当日立讯精密获融资买入额3.88亿 元，融资偿还4.22亿元，融资净买入-3444.35万元。截至11月17日，立讯精密融资融券余额合计63.61亿 元。 融资方面，立讯精密当日融资买入3.88亿元。当前融资余额63.28亿元，占流通市值的1.54%，融资余额 超过近一年80%分位水平，处于高位。 资料显示，立讯精密工业股份有限公司位于广东省东莞市清溪镇北环路313号,中国香港铜锣湾希慎道33 号利园1期19楼1901室，成立日期2004年5月24日，上市日期2010年9月15日，公司主营业务涉及公司专 注于连接器的研发、生产和销售,产品主要应用于3C(电脑、通讯、消费电子)、汽车和通讯设备等领 域。主营业务收入构成为：消费性电子78.55%，通讯互联产品及精密组件8.91%，汽车互联产品及精密 组件6.95%，电脑互联产品及精密组件3.93%，其他连接器及其他业务1.65%。 截至11月10日，立讯精密股东户数43.98万，较上期减少7.68%；人均流通股16521股，较上期增加 8.33%。2025年1月-9月，立讯精密实现营业收入2 ...

Group 1 - The company, Luxshare Precision, stated on November 17 that it holds a leading position in CPC technology within the industry [1] - The company has collaborated with all major clients for 3 to 4 years on product technology research and development [1] - Currently, the company is pushing for the conversion of research and development results into products [1]

证券日报网讯立讯精密11月17日在互动平台回答投资者提问时表示，历年来，公司研发投入及研发成果 均呈稳步上升态势，近三年累计研发投入251.92亿元，目前拥有发明专利7，164件。公司在声、光、 电、热、磁、射频、结构件等底层技术领域建立了完整的能力拼图，并搭建起面向多场景应用的通用技 术平台，借此实现不同技术要素的动态组合与协同优化，既能快速响应客户多元化需求，又能前瞻性地 将成熟技术方案迁移至新兴领域，并通过融合与创新为客户提供独特、领先的价值。 （文章来源：证券日报） ...

证券日报网讯立讯精密（002475）11月17日在互动平台回答投资者提问时表示，公司收购闻泰 OEM/ODM业务相关股权及资产的交易，目前尚有印度相关土地、厂房、设备等资产未完成交割，交易 协议项下的除印度资产以外的其他股权及资产均已实现交割并表。 ...

Core Viewpoint - The company has established partnerships with several well-known brands, receiving high recognition from clients [1] Group 1: Partnerships - The company has collaborated with BYD Electronics, Foxconn, Luxshare Precision, Linyang Precision, Yushutech, CRRC, SAIC-GM, and AVIC [1] - These partnerships indicate a strong market presence and potential for growth within the industry [1] Group 2: Client Recognition - The company has received high recognition from its clients, which may enhance its reputation and attract further business opportunities [1] - Additional client information will be disclosed through the company's regular reports and announcements [1]

Core Viewpoint - The company, Luxshare Precision (002475), has demonstrated enhanced global competitiveness in its electrical connection products, with significant advancements in high-speed cable and optical connection technologies [1] Group 1: Product Developments - The company has achieved mass production of its 224G high-speed cable products [1] - The 448G products are currently in preliminary research with several mainstream customers [1] - In the optical connection field, the company has successfully delivered mass production of 800G optical modules [1] Group 2: Future Prospects - The company is conducting customer validation for its 1.6T products [1] - Early exploration has been initiated in key technologies such as LRO (Long Reach Optics) and LPO (Low Power Optics) [1]

Core Viewpoint - The company aims to enhance its vertical integration efficiency across the entire industry chain through smart manufacturing upgrades and foundational capability innovations, while accelerating the strategic expansion of its diversified business to become the preferred partner for global brand clients in multiple fields [1] Group 1 - The company will leverage dual drivers of smart manufacturing upgrades and foundational capability innovations [1] - The focus is on improving the efficiency of vertical integration across the entire industry chain [1] - The strategic goal includes accelerating the expansion of diversified business operations [1]