Investment Rating - The report maintains a "Recommended" rating for the company, indicating an expected price increase of over 15% relative to the benchmark index within the next 12 months [8][15]. Core Insights - The company reported a revenue of 1.81 billion yuan for the first three quarters of 2025, representing a year-on-year increase of 10.13%. The net profit attributable to the parent company reached 210 million yuan, up 36.89% year-on-year [3][4]. - The third quarter of 2025 saw a revenue of 586 million yuan, a slight increase of 0.48% year-on-year but a decrease of 5.28% quarter-on-quarter. The net profit for Q3 was 106 million yuan, showing a significant year-on-year increase of 109.83% and a quarter-on-quarter increase of 129.13% [3][4]. - The increase in net profit is primarily attributed to non-recurring gains, particularly a fair value change gain of 87 million yuan [4]. Financial Performance Summary - Revenue and Profitability: The company’s Q3 gross margin was 15.23%, down 2.68 percentage points year-on-year, while the net profit margin was 18.02%, up 9.39 percentage points year-on-year [4]. - Expense Ratios: The sales, management, R&D, and financial expense ratios for Q3 were 0.73%, 4.19%, 4.14%, and 1.43%, respectively, with management expenses slightly increasing due to higher depreciation of management assets [4]. - Future Projections: The company is expected to achieve revenues of 3.23 billion yuan, 4.08 billion yuan, and 5.07 billion yuan for 2025, 2026, and 2027, respectively, with net profits projected at 303 million yuan, 381 million yuan, and 529 million yuan for the same years [7][12]. Strategic Developments - Collaboration with Nidec: The company is deepening its collaboration with Nidec in the fields of new energy vehicle components and humanoid robots, focusing on technology empowerment, capacity collaboration, and market resonance [5]. - Investment in Tactile Technology: The company strategically invested in Shenzhen Tactile Technology Co., which specializes in MEMS technology and tactile sensors, aiming to enhance its capabilities in robotics [6].

Core Viewpoint - Longsheng Technology's stock has shown significant growth this year, with a year-to-date increase of 130.39% and a recent market capitalization of 12.467 billion yuan [1][2]. Financial Performance - For the period from January to September 2025, Longsheng Technology achieved operating revenue of 1.81 billion yuan, representing a year-on-year growth of 10.13% [2]. - The net profit attributable to shareholders for the same period was 210 million yuan, reflecting a year-on-year increase of 36.89% [2]. Stock Market Activity - As of October 21, Longsheng Technology's stock price was 54.75 yuan per share, with a trading volume of 315 million yuan and a turnover rate of 3.34% [1]. - The stock has experienced a net inflow of 1.2178 million yuan from main funds, with significant buying and selling activity from large orders [1]. Shareholder Information - As of September 30, the number of shareholders for Longsheng Technology was 21,200, a decrease of 5.96% from the previous period [2]. - The average number of circulating shares per shareholder increased by 4.37% to 8,291 shares [2]. Dividend Distribution - Longsheng Technology has distributed a total of 177 million yuan in dividends since its A-share listing, with 114 million yuan distributed over the past three years [3]. Institutional Holdings - As of September 30, 2025, notable institutional shareholders include Penghua Carbon Neutral Theme Mixed A and Huazhang Media Internet Mixed A, with some new entrants and exits among the top ten circulating shareholders [3].

2025年10月21日，隆盛科技(300680.SZ)发布2025年第三季报。截至2025年10月20日，共有5个机构投资 者披露持有隆盛科技A股股份，合计持股量达1490.90万股，占隆盛科技总股本的6.55%。其中，机构投 资者包括招商银行股份有限公司-鹏华碳中和主题混合型证券投资基金、中国建设银行股份有限公司-华 安汇宏精选混合型证券投资基金、中国邮政储蓄银行股份有限公司-景顺长城稳健回报灵活配置混合型 证券投资基金、中国工商银行股份有限公司-华安媒体互联网混合型证券投资基金、中信银行股份有限 公司-永赢低碳环保智选混合型发起式证券投资基金，机构投资者合计持股比例达6.55%。相较于上一季 度，机构持股比例合计下跌了5.53个百分点。 公募基金方面本期较上一季度持股减少的公募基金共计2个，包括鹏华碳中和主题混合A、永赢低碳环 保智选混合发起A，持股减少占比达1.16%。本期较上一季度新披露的公募基金共计3个，包括华安汇宏 精选混合A、景顺长城稳健回报混合A类、华安媒体互联网混合A。本期较上一季未再披露的公募基金 共计159个，主要包括永赢先进制造智选混合发起A、前海开源嘉鑫混合A、鹏华沪深港新兴成长混合 ...

Economic Overview - The National Bureau of Statistics reported that the GDP for the first three quarters reached 10,150.36 billion yuan, with a year-on-year growth of 5.2%, accelerating by 0.2 and 0.4 percentage points compared to the full year of 2024 and the same period in 2024 respectively, indicating a stable economic performance with a solid foundation for achieving annual targets [2][5]. Industry Insights - China is approaching a large-scale retirement phase for power batteries, with the domestic market for battery recycling expected to exceed 100 billion yuan by 2030 [3][5]. - The Ministry of Industry and Information Technology held a meeting emphasizing the need for cement industry backbone enterprises to strictly implement capacity replacement policies by the end of 2025 [5]. - The "Wind Energy Beijing Declaration 2.0" was released at the 2025 Beijing International Wind Energy Conference, stating that during the 14th Five-Year Plan period, China's annual new wind power installation should not be less than 120 million kilowatts, with offshore wind power installations not less than 15 million kilowatts [5]. Company Performance - Zhuhai Huajun Technology reported a significant increase in revenue and net profit for the first three quarters, with revenue of 3.903 billion yuan, up 66.53%, and net profit of 492 million yuan, up 142.19% [10]. - Ningde Times reported a net profit of 18.5 billion yuan for the third quarter, a year-on-year increase of 41%, with revenue of 104.19 billion yuan, up 12.9% [12]. - Longsheng Technology's third-quarter revenue was 586 million yuan, a slight increase of 0.48%, while net profit grew by 109.83% to 106 million yuan [12]. Market Trends - The demand for 1.6T optical modules has been continuously revised upward, with total demand expected to increase from 1,000 million to 2,000 million units due to the rapid growth in AI training and inference network bandwidth requirements [11]. - The semiconductor sector saw significant net subscriptions in ETFs, with semiconductor-themed ETFs and non-bank financial ETFs attracting net subscriptions of 33.3 billion yuan and 18.6 billion yuan, respectively [6]. Strategic Developments - Dazhu CNC's strong performance is attributed to the growing demand for high-tech PCB products, particularly in AI computing and automotive electronics [10]. - The company plans to expand its production capacity for high-speed interconnect products to meet the diverse needs of domestic and international clients in data center construction and AI applications [14].

Mergers and Acquisitions - Dongtu Technology is planning to acquire 100% equity of Beijing Gaoweike Electric Technology Co., Ltd. The company's stock will be suspended from trading starting October 21, 2025, with a transaction plan expected to be disclosed within 10 trading days [1] - Jiayun Technology intends to sell its wholly-owned subsidiary, Haili Insurance Brokerage (Shenzhen) Co., Ltd., to Shanjiaxia (Shenzhen) Technology Co., Ltd. This equity transfer aims to optimize the business structure and enhance asset operation efficiency, focusing on internet marketing [2] Shareholding Changes - Xiyu Tourism's major shareholder, Xinjiang Kunlun Investment Development Partnership (Limited Partnership), plans to reduce its stake by up to 3%, equating to approximately 4.65 million shares, within three months after a 15 trading day period from the announcement [3] - Shannon Chip Innovation's major shareholder, Wuxi High-tech Zone New Momentum Industry Development Fund (Limited Partnership), plans to reduce its stake by up to 1%, which is approximately 463.77 million shares, within three months after a 15 trading day period from the announcement [4] - Jifeng Technology's major shareholders, Wang Xinming, Wang Hongyan, and their concerted party, plan to reduce their stake by up to 3%, totaling approximately 14.83 million shares, within three months after a 15 trading day period from the announcement [5] Earnings Disclosure - Longsheng Technology reported a 109.83% year-on-year increase in net profit attributable to shareholders in the third quarter, reaching 106 million yuan, with total revenue of 586 million yuan, a 0.48% increase [6] - Juzhi Technology announced a 100.34% year-on-year increase in net profit attributable to shareholders, amounting to 32.36 million yuan, with total revenue of 227 million yuan, an 18.77% increase [7] - China Mobile reported a net profit attributable to shareholders of 31.1 billion yuan in the third quarter, a 1.4% year-on-year increase, with total revenue of 250.9 billion yuan, a 2.5% increase [8] Risk Events - Shan Shui Technology's actual controller and chairman, Huang Guorong, has been subjected to criminal coercive measures for personal reasons. The company has convened a board meeting, and board member Wu Xinyan will assume the responsibilities of chairman and legal representative [9] - Zhongxin Co., Ltd. is under investigation by Canada for alleged dumping and subsidy practices related to molded fiber tableware. The investigation period is from October 1, 2024, to September 30, 2025, involving the company and three wholly-owned subsidiaries, with exports to Canada amounting to approximately 82.65 million yuan, accounting for 7.7% of revenue during the specified period [10]

Core Insights - Longsheng Technology (300680.SZ) reported a revenue of 1.8 billion yuan for the first three quarters, representing a year-on-year growth of 10.13% [1] - The net profit attributable to shareholders of the listed company reached 210 million yuan, marking a year-on-year increase of 36.89% [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 130 million yuan, showing a year-on-year decline of 13.53% [1]

Group 1 - The core viewpoint of the article is that Longsheng Technology (300680.SZ) has shown positive financial performance in the first three quarters of 2025, with significant growth in revenue and net profit [1] Group 2 - The company's operating revenue for the first three quarters reached 1.81 billion yuan, representing a year-on-year increase of 10.13% [1] - The net profit attributable to shareholders of the listed company was 210 million yuan, reflecting a year-on-year growth of 36.89% [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 130 million yuan, which is a year-on-year decrease of 13.53% [1] - The basic earnings per share stood at 0.9131 yuan [1]

Core Insights - Longsheng Technology (300680) reported its Q3 2025 results, showing a slight increase in revenue and a significant rise in net profit [1] Financial Performance - In Q3 2025, the company achieved revenue of 586 million yuan, representing a year-on-year growth of 0.48% [1] - The net profit attributable to shareholders for Q3 was 106 million yuan, marking a substantial year-on-year increase of 109.83% [1] - For the first three quarters of 2025, the company reported total revenue of 1.81 billion yuan, which is a year-on-year growth of 10.13% [1] - The net profit attributable to shareholders for the first three quarters was 210 million yuan, reflecting a year-on-year increase of 36.89% [1]

智通财经APP讯，隆盛科技(300680.SZ)发布2025年三季度报告，该公司前三季度营业收入为18.1亿元， 同比增长10.13%。归属于上市公司股东的净利润为2.1亿元，同比增长36.89%。归属于上市公司股东的 扣除非经常性损益的净利润为1.3亿元，同比减少13.53%。基本每股收益为0.9131元。 ...

隆盛科技10月20日晚间公告，2025年第三季度实现营业收入5.86亿元，同比增长0.48%；归属于上市公 司股东的净利润1.06亿元，同比增长109.83%；基本每股收益0.4613元。前三季度实现营业收入18.1亿 元，同比增长10.13%；归属于上市公司股东的净利润2.1亿元，同比增长36.89%；基本每股收益0.9131 元。 ...