NJEC(SH:600699) Zheng Quan Shi Bao Wang·2025-05-06 05:54Core Viewpoint - Junsheng Electronics reported a strong performance in Q1 2025, with revenue of approximately 14.6 billion yuan, a year-on-year increase of 9.78%, and a net profit of about 340 million yuan, up over 11% from the previous year [1] Group 1: Financial Performance - The automotive safety segment generated approximately 9.2 billion yuan in revenue, while the automotive electronics segment contributed around 4 billion yuan [1] - In 2024, Junsheng Electronics achieved revenue of about 55.9 billion yuan and a non-recurring net profit of approximately 1.28 billion yuan, marking a significant year-on-year growth of 28% [2] - The gross margin of the main business increased by 1.8 percentage points to 16.3% [2] Group 2: Market Strategy and Global Operations - The company showcased its advanced technologies and products at the 2025 Shanghai International Auto Show, emphasizing its role as a provider of intelligent automotive technology solutions [1] - Junsheng Electronics has adopted a "Local for Local" operational model, which enhances its global integration and resource optimization, particularly in Europe and North America [2][3] - The company has implemented targeted adjustments to its global supply chain to address uncertainties, focusing on vertical integration of raw materials and deep partnerships with key suppliers [3] Group 3: Product Development and Innovation - Junsheng Electronics launched the immersive smart cockpit solution JoySpace+ at the auto show, which integrates multiple innovative technologies to enhance passenger safety [7] - The company prioritizes safety and reliability in its product development, adhering to strict quality control processes to meet safety standards [7] - Junsheng Electronics is investing in cutting-edge technologies such as advanced airbags and smart steering wheels to continuously upgrade its product lines [7] Group 4: Industry Opportunities - The increasing trend of Chinese automotive companies expanding overseas presents further market opportunities for Junsheng Electronics [6] - The company aims to leverage its global presence to assist clients in navigating local regulations and providing efficient solutions [6] - Junsheng Electronics believes that the current market environment, while challenging, also offers opportunities for growth through enhanced customer engagement and a robust supply chain [5]