NBGF(SH:603788) Zheng Quan Shi Bao Wang·2025-09-02 13:49Core Viewpoint - Ningbo Gaofa reported a steady increase in revenue and profits for the first half of 2025, driven by strong sales in its automotive control systems, while also expanding its international presence and production capabilities [1][2]. Group 1: Financial Performance - In the first half of 2025, Ningbo Gaofa achieved an operating income of 787 million yuan, a year-on-year increase of 7.83% [2] - The operating profit was 115 million yuan, reflecting a year-on-year increase of 4.56% [2] - The net profit reached 103 million yuan, up 11.63% year-on-year, with the net profit attributable to shareholders at 104 million yuan, an increase of 11.93% [2] - The net cash flow from operating activities was -44.81 million yuan, a decrease of 311.11% year-on-year [2] Group 2: Product Development and Market Expansion - The company’s gear shifter products have entered the supply chains of major automotive manufacturers such as Geely and Renault [2] - The electronic accelerator pedals have been integrated into the systems of Stellantis, Renault, and several other major automotive brands [2] - The company is actively expanding its product offerings, including brake pedals, into new customer supply chains [2] - Long-term strategies include maintaining market expansion and product development efforts, focusing on both domestic and international markets [2] Group 3: Production and Supply Chain Management - Ningbo Gaofa has established a production base in Malaysia, with plans to commence production in the second half of the year [3] - The company is also working on the preliminary approval for a production base in Morocco [3] - The procurement strategy includes centralized purchasing for bulk materials to enhance bargaining power and secure favorable prices [3] - The company is adapting to price fluctuations in raw materials and is negotiating with suppliers to control costs while introducing domestic alternatives to maintain product competitiveness [3]