Core Viewpoint - The stock price fluctuations of Rujing Technology (301525) are influenced by multiple factors including macro policies, industry cycles, capital market environment, and investor sentiment [1] Group 1: Company Performance - The company maintains stable operations and is committed to enhancing its operational performance and intrinsic value [1] - Rujing Technology aims to create long-term returns for its shareholders [1] Group 2: Investor Communication - The company encourages investors to view stock price movements rationally and to be aware of investment risks [1]

Core Viewpoint - Rujing Technology indicated that investors should pay attention to the company's upcoming periodic reports for specific performance details [2] Group 1 - The company responded to investor inquiries on November 11 regarding its performance [2] - The company emphasized the importance of monitoring future disclosures for detailed financial information [2]

Group 1 - The company will continue to focus on its core business and optimize its product structure [2] - The company aims to accelerate its industrial layout in emerging fields to enhance operational performance and corporate value [2] - Investors are encouraged to pay attention to the company's upcoming periodic reports for specific performance details [2]

Core Viewpoint - The company, Rujing Technology, focuses on innovation-driven strategies based on power electronics and motor control technology, aiming to convert technological reserves into value in emerging application scenarios [1] Group 1: Business Strategy - The company consolidates its competitive advantage in the HVAC/R sector while expanding into the new energy vehicle thermal management and automation and robotics sectors [1] - The strategic direction is to systematically advance the transformation of technology reserves into market opportunities, fostering new growth points [1] Group 2: Market Opportunities - The new energy vehicle sector has become a new engine for the company's performance growth, driven by the continuous increase in global penetration rates of new energy vehicles [1] - The ongoing growth in this sector significantly contributes to the overall performance increase of the company, supported by an optimized product and customer structure [1]

Core Viewpoint - The company is focused on enhancing its core competitiveness by closely monitoring targets and fields that are synergistic with its existing industrial chain layout and closely related to its business or technology [1] Group 1 - The company is actively looking for opportunities that align with its current industry chain [1] - The company emphasizes compliance with legal and regulatory requirements for information disclosure regarding any relevant plans [1]

Core Viewpoint - The company, Rujing Technology (301525.SZ), is advancing its technology in servo drive and control systems, which can be extended to the robotics sector, indicating a strategic shift towards expanding its product line in robotics [1] Group 1: Technology Development - The company has matured its technology in servo drive and control systems, which positions it well for entering the robotics market [1] - Active research and development efforts are underway to expand the product line in the robotics field, aiming to provide key components and solutions to meet differentiated market and customer demands [1] Group 2: Business Status - The company's business in the robotics-related component sector is currently in the investment phase, with some products having achieved sample delivery [1] - Revenue from the robotics segment remains relatively small and has not significantly impacted the company's overall performance [1]

Core Viewpoint - The company focuses on innovation-driven strategies based on power electronics and motor control technology, aiming to convert technological reserves into value in emerging application scenarios [1] Group 1: Business Strategy - The company consolidates its competitive advantage in the HVAC/R sector while expanding into the new energy vehicle thermal management and automation and robotics sectors [1] - The strategic direction is to systematically advance the transformation of technology reserves into market opportunities for new growth points [1] Group 2: Market Opportunities - The new energy vehicle sector has become a new engine driving the company's performance growth [1] - As the global penetration rate of new energy vehicles continues to rise, the optimization of product and customer structure contributes significantly to the overall performance growth of the company [1]

Financial Performance - The company's revenue for the first three quarters of 2025 was 997 million RMB, a decrease of 1.45% year-on-year [1] - The net profit attributable to shareholders was 134 million RMB, down 9.91% year-on-year [1] - The decline in performance was primarily due to macroeconomic fluctuations and the relocation of the "New Energy Automotive Electronics and Intelligent Manufacturing Industrial Base" project [1] Business Outlook - The company anticipates a steady improvement in performance indicators as overall business operations progress [1] - The heat pump business revenue increased year-on-year in the first three quarters of 2025, driven by global energy structure transformation and favorable government policies in Europe [1] R&D Investment - R&D expenses for the first three quarters of 2025 amounted to 98.43 million RMB, an increase of 12.88 million RMB from the previous year, representing 9.87% of revenue [3] - The company focuses on core product upgrades and technological innovation in emerging fields such as data centers, industrial control, and robotics [3] Data Center Business - The company has established a dual-core business layout in the data center sector, focusing on "thermal management + energy saving" [4] - The growth in demand for computing power and continuous upgrades in variable frequency high-efficiency technology are benefiting the thermal management segment [4] Robotics Sector - The company is actively developing its product line in the robotics field, leveraging proprietary control systems and application development capabilities [5] - The goal is to provide customized solutions for clients, aiming for significant growth in this sector [5] Thailand Production Base - The company plans to invest 226 million RMB in a new manufacturing base in Thailand, which is part of its global strategy [6] - The project is progressing as scheduled and aims to enhance local supply capabilities for international clients, boosting overseas revenue [6]

Core Viewpoint - Rujing Technology stated that as of October 31, 2025, the number of shareholders will exceed 9,900 [2] Summary by Categories - **Company Information** - Rujing Technology has confirmed that the number of shareholders is projected to be over 9,900 by the end of October 2025 [2]

Core Viewpoint - Ruijing Technology experienced a decline of 2.27% in stock price on October 30, with a trading volume of 117 million yuan, indicating potential market volatility and investor sentiment concerns [1] Financing Summary - On October 30, Ruijing Technology had a financing buy-in amount of 18.28 million yuan and a financing repayment of 8.59 million yuan, resulting in a net financing buy of 9.70 million yuan [1] - The total financing and securities balance for Ruijing Technology reached 234 million yuan, accounting for 5.22% of its circulating market value, which is above the 90th percentile of the past year, indicating a high level of financing activity [1] - The company had no short selling activity on October 30, with a short selling balance of 0 shares, suggesting a lack of bearish sentiment among investors [1] Company Performance - As of October 20, Ruijing Technology had 9,600 shareholders, a decrease of 4.95% from the previous period, while the average circulating shares per person increased by 5.21% to 5,145 shares [2] - For the period from January to September 2025, Ruijing Technology reported a revenue of 999.7 million yuan, a year-on-year decrease of 1.45%, and a net profit attributable to shareholders of 134 million yuan, down 9.91% year-on-year [2] Dividend and Shareholding Information - Since its A-share listing, Ruijing Technology has distributed a total of 104 million yuan in dividends [3] - As of September 30, 2025, the top ten circulating shareholders included Guotai Intelligent Automotive Stock A as the second-largest shareholder with 3.03 million shares, an increase of 50,000 shares from the previous period [3] - Guotai Intelligent Equipment Stock A ranked seventh among the top shareholders with 936,000 shares, a decrease of 355,700 shares, while Hong Kong Central Clearing Limited entered as the eighth-largest shareholder with 876,100 shares [3]