中鼎股份(000887)：业绩稳健增长 积极布局新领域赛道

Group 1: Financial Performance - The company reported a revenue of 9.846 billion yuan for the first half of 2025, a year-on-year increase of 1.83% [1] - The net profit attributable to shareholders reached 817 million yuan, up 14.11% year-on-year, while the net profit excluding non-recurring items was 780 million yuan, reflecting a 21.53% increase [1] - In Q2 2025, the company achieved a revenue of 4.992 billion yuan, with quarter-on-quarter and year-on-year growth of 0.31% and 2.84% respectively [1] - The gross margin for the first half of the year was 23.58%, an increase of 1.35 percentage points year-on-year, while the net margin was 8.26%, up 0.82 percentage points year-on-year [1] Group 2: Business Development - The company is focusing on the development of both traditional and incremental businesses, optimizing customer structure and enhancing product competitiveness [2] - It aims to maintain steady growth in traditional businesses while promoting the growth of new areas such as air suspension systems, lightweight chassis systems, and thermal management systems [2] - The company plans to advance its business towards intelligence in the automotive sector, centered around smart chassis system strategic goals [2] Group 3: New Ventures and Collaborations - The company is actively pursuing new fields such as humanoid robots, low-altitude economy, AI, and data center thermal management [3] - Strategic cooperation agreements have been signed with various companies to accelerate the production of robotic harmonic reducers and components [3] - The company is expected to see accelerated progress in its robotics business due to its strong manufacturing capabilities and leading position in the supply chain [3] - In the AIDC liquid cooling sector, the company has laid out plans for CDU and immersion cooling units, anticipating growth in orders as the market expands [3] Group 4: Profit Forecast - The company is projected to achieve a compound annual growth rate (CAGR) of 18.5% in net profit attributable to shareholders from 2025 to 2027 [3] - The performance is expected to continue growing as various business segments ramp up production and orders [3]