NJEC(SH:600699) Quan Jing Wang·2025-08-25 11:20Core Insights - Company achieved a revenue of approximately 30.347 billion yuan in the first half of 2025, representing a year-on-year growth of 12.07% [1][2] - The overall gross margin increased by 2.9 percentage points to about 18.4% in Q2 2025, marking the highest level in recent years [1][2] - The company is focusing on breakthroughs in key products and technologies in the automotive and robotics sectors, with significant progress reported [1][4] Financial Performance - Revenue for the first half of 2025 was approximately 30.347 billion yuan, up from 27.079 billion yuan in the same period last year, reflecting a growth of about 12.07% [2] - The total operating profit was around 1.247 billion yuan, with net profit attributable to shareholders increasing by 11.13% to 708 million yuan [1] - The overall gross margin for the first half of 2025 improved by approximately 2.6 percentage points to about 18.2% [2] Business Segments - The automotive safety business achieved a gross margin of approximately 15.9%, up by about 2.0 percentage points year-on-year, while the automotive electronics business saw a gross margin increase of about 2.2 percentage points to approximately 21.5% [2] - The company has made significant advancements in smart driving, including a partnership with Momenta, resulting in a high-level intelligent driving domain control project with an order value exceeding 1 billion yuan [1][5] - In the robotics sector, the company is providing integrated hardware and software solutions, having established partnerships with leading robotics companies [8] R&D and Innovation - The company invested approximately 2.488 billion yuan in R&D in the first half of 2025, ensuring continued leadership in key technology areas [4] - New orders for the first half of 2025 amounted to approximately 31.2 billion yuan, with over 20.6 billion yuan related to new energy vehicles, accounting for over 66% of the total [5] - The company is actively developing innovative safety solutions, including a new series of gas generators and advanced safety belt systems [6] Global Strategy - The company is enhancing its global operations by integrating Chinese suppliers and optimizing procurement prices, leading to a significant increase in overseas gross margins [3] - The company is strategically extending its reach into the robotics industry, establishing a wholly-owned subsidiary to focus on humanoid robotics [8] - The company is also pursuing international expansion, with plans to list on the Hong Kong main board to create a global capital platform [9][10]