继峰股份：Q2扣非归母持续向上，期待座椅进一步放量

Group 1 - The company reported its 2025 Q2 results, with a net profit attributable to shareholders of 0.49 billion yuan, representing a year-on-year increase of 45% but a quarter-on-quarter decrease of 53%, slightly exceeding the lower limit of forecasts [2] - The company's revenue for Q2 was 5.5 billion yuan, showing a year-on-year decline of 4.1% but a quarter-on-quarter increase of 8.9% [2] - The non-recurring net profit attributable to shareholders for Q2 was 1.00 billion yuan, reflecting a year-on-year increase of 8.09 times and a quarter-on-quarter increase of 13% [2] Group 2 - In the first half of 2025, the company turned a significant loss into a profit, achieving a net profit attributable to shareholders of 0.93 billion yuan, compared to a loss of 0.35 billion yuan in the same period last year [2] - The company's passenger car seat business in the first half of 2025 generated revenue of 1.984 billion yuan, a year-on-year increase of 121%, but reported a net loss of 0.63 billion yuan, worsening from a loss of 0.23 billion yuan in the previous year [2] - The company anticipates that the profit release from new projects will be promising despite the short-term increase in losses from seat production [2]