Company Overview - Jiangsu Pacific Precision Forging Technology Co., Ltd. is located in Jiangyan District, Taizhou, Jiangsu Province, established on December 9, 1992, and listed on August 26, 2011 [1] - The company's main business includes automotive differential bevel gears, automotive transmission gears, transmission shafts, electronic differential lock gears, synchronizer rings, clutch drive hubs, parking gears, electric motor shafts and differential assemblies for new energy vehicles, and high-end agricultural machinery gears [1] Financial Performance - As of June 30, 2025, the company achieved operating revenue of 987 million yuan, a year-on-year decrease of 2.00%, and a net profit attributable to shareholders of 60.6 million yuan, a year-on-year decrease of 35.23% [2] - The company has cumulatively distributed 604 million yuan in dividends since its A-share listing, with 181 million yuan distributed in the last three years [3] Stock Performance - On September 10, the stock price of Precision Forging Technology fell by 2.08%, trading at 15.05 yuan per share, with a total market capitalization of 8.805 billion yuan [1] - Year-to-date, the stock price has increased by 69.65%, with a 6.66% increase over the last five trading days, a 3.08% increase over the last 20 days, and a 16.31% increase over the last 60 days [1] Shareholder Structure - As of June 30, 2025, the number of shareholders increased to 33,700, up 11.35% from the previous period, with an average of 15,351 circulating shares per shareholder, a decrease of 6.79% [2] - The second-largest circulating shareholder is Yongying Advanced Manufacturing Mixed Fund A, holding 23.14 million shares as a new shareholder [3]

Company Overview - Jiangsu Pacific Precision Forging Technology Co., Ltd. is located in Jiangyan District, Taizhou, Jiangsu Province, established on December 9, 1992, and listed on August 26, 2011 [1] - The company's main business includes automotive differential bevel gears, automotive transmission gears, automotive transmission shafts, electronic differential lock gears, synchronizer rings, clutch drive hubs, parking gears, electric motor shafts and differential assemblies for new energy vehicles, and high-end agricultural machinery gears [1] Financial Performance - As of June 30, 2025, the company achieved operating revenue of 987 million yuan, a year-on-year decrease of 2.00%, and a net profit attributable to shareholders of 60.6 million yuan, a year-on-year decrease of 35.23% [2] - The company has cumulatively distributed 604 million yuan in dividends since its A-share listing, with 181 million yuan distributed in the last three years [3] Stock Performance - The stock price of Precision Forging Technology increased by 71.57% year-to-date, with a recent 5-day increase of 2.77%, a 20-day increase of 7.26%, and a 60-day increase of 17.08% [1] - As of September 9, the stock was trading at 15.22 yuan per share, with a market capitalization of 8.904 billion yuan [1] Shareholder Information - As of June 30, 2025, the number of shareholders increased to 33,700, up by 11.35%, while the average circulating shares per person decreased by 6.79% to 15,351 shares [2] - The second-largest circulating shareholder is Yongying Advanced Manufacturing Mixed Fund A, holding 23.14 million shares, while Qianhai Kaiyuan Jiaxin Mixed Fund A is the ninth-largest, holding 2.43 million shares, both being new shareholders [3] Market Position - The company belongs to the automotive industry, specifically in the automotive parts sector, focusing on chassis and engine systems [2] - It is associated with concepts such as small-cap stocks, reducers, humanoid robots, robot concepts, and BYD concepts [2]

Core Viewpoint - Jiangsu Pacific Precision Forging Technology Co., Ltd. has provided significant insights into its export, robotics, and automotive businesses during a recent institutional research meeting [1] Group 1: Export Business - The impact of US-China tariffs on the company's export business is primarily borne by customers, with the company shifting production of long-lifecycle products to its factory in Thailand to mitigate this impact [2] - New business developments are also being arranged for production in Thailand [2] Group 2: Robotics Business - The company aims to develop autonomous research, design, manufacturing, and testing capabilities for robotic joint reducers, with ongoing progress in various projects [2] - Collaboration with Greeley on module development is proceeding as planned, with relevant samples delivered and new projects under development [2] - The product planning for the robotics business focuses on joint reducers, joint module assemblies, and structural components [2] Group 3: Stock Buyback - The company has repurchased shares worth 100 million yuan, with a total buyback plan of 100 to 200 million yuan [2] - Revenue for the second half of the year is expected to outperform the same period last year based on preliminary trends [2] Group 4: Automotive Business - The company plans to diversify its product offerings in the domestic market, focusing on new energy axle gear and lightweight businesses to maintain stable growth [2] - Future expansion will target overseas markets, utilizing the Thailand factory to serve North America and Southeast Asia [2] - Production capacity will be flexibly adjusted between domestic and overseas factories based on market demand to enhance overall capacity utilization [2] Group 5: Pricing Strategy - The company adopts a localized pricing strategy for its overseas factories, recalculating prices based on local production costs rather than implementing a global uniform pricing model [2]

Group 1: Export Business and Taxation - The impact of US-China tax rates on export business is primarily borne by customers, with the company shifting production of long-life products to its Thailand factory to mitigate tariff effects [2] - New business developments are also being arranged in the Thailand factory [2] Group 2: Robotics and Product Development - The company aims to establish independent R&D, design, manufacturing, and testing capabilities for robotic joint modules, with current progress on track [2] - Collaboration with Glarner on module development is proceeding as planned, with relevant samples already delivered and new projects in development [2] Group 3: Stock Buyback and Financial Performance - As of now, the company has repurchased 100 million yuan of stock, with a total buyback plan of 100-200 million yuan, set to continue until November 22, 2025 [2] - Despite revenue impacts in Q2, the company has seen an increase in gross margin, indicating stable production, with expectations for better performance in H2 compared to the previous year [3] Group 4: Automotive Business Strategy - The company plans to diversify its product offerings in the domestic market while focusing on new energy axle gear and lightweight businesses to maintain stable growth [3] - The overseas market will be a key focus for expansion, with the Thailand factory servicing North America and Southeast Asia [3] - Production costs will be calculated locally, with pricing adjusted accordingly rather than using a global pricing strategy [3]

Core Viewpoint - The company, Jingzhuan Technology, announced a projected decline in revenue and profit for the first half of 2025, with revenue expected to decrease by 2% and profit to drop by over 30% [1] Summary by Relevant Categories Revenue Impact - The company anticipates a 2% decrease in revenue for the first half of 2025 [1] Profit Impact - Profit is expected to decline by more than 30% due to several factors [1] Contributing Factors - The decline in profit is attributed to: 1. New expenses related to the installation, debugging, and trial operation of production lines at the company's factory in Thailand, as well as associated tooling and employee compensation [1] 2. Back payment of taxes [1] 3. Reduced income and increased losses from some factories not meeting production expectations [1]

Core Viewpoint - The company, Jingzhuan Technology, announced on September 5 that it will dynamically adjust its overall production capacity layout based on customer demand to enhance overall capacity utilization [1] Group 1 - The company aims to improve its production capacity utilization by aligning its capacity layout with customer needs [1]

Core Viewpoint - The company announced that during its overseas factory establishment, it agreed with clients to adjust the supporting prices based on local costs [1] Group 1 - The company is engaged in establishing overseas factories [1] - The pricing strategy involves renegotiating costs with clients according to local market conditions [1]

Core Viewpoint - The company emphasizes the importance of expanding overseas markets as a key strategy for current and future development [1] Group 1: Overseas Market Expansion - The company has further expanded its overseas business by acquiring new clients and project nominations in the first half of 2025 [1] - Ongoing negotiations are in place for competitive projects that the company is pursuing [1] Group 2: Production Developments - The company's factory in Thailand has commenced small-scale production as planned [1] - The initial phase of production focuses on projects that have been transferred from domestic operations to exports to the United States, with plans to gradually increase local sourcing and other export business shares [1]

Core Viewpoint - Jingzhuan Technology (300258) announced on September 5 that its top five customers are expected to account for approximately 70% of the company's consolidated revenue in the first half of 2025, indicating a stable customer structure and revenue distribution [1] Group 1 - The company reported that there has been no significant change in customer structure and revenue proportion, which remains relatively stable [1] - In the first half of 2025, the company has received nominations for new projects in its new energy axle gear business and lightweight aluminum forging business, further expanding its business scope [1]

Group 1 - The core viewpoint of the news is that Jingzhuan Technology has seen a stock price increase of 5.03%, reaching 14.19 CNY per share, with a trading volume of 357 million CNY and a turnover rate of 4.49%, resulting in a total market capitalization of 8.302 billion CNY [1] - Jingzhuan Technology, established on December 9, 1992, and listed on August 26, 2011, specializes in automotive components such as differential gears, transmission gears, and parts for electric vehicles and high-end agricultural machinery [1] Group 2 - Among the top ten circulating shareholders of Jingzhuan Technology, Qianhai Kaiyuan Fund's Qianhai Kaiyuan Jiaxin Mixed A (001765) entered the list in the second quarter, holding 2.4275 million shares, which is 0.47% of the circulating shares, with an estimated floating profit of approximately 1.6507 million CNY [2] - Qianhai Kaiyuan Jiaxin Mixed A (001765) was established on December 26, 2016, with a latest scale of 300 million CNY, achieving a year-to-date return of 61.61% and a one-year return of 68.93% [2]