Xin Lang Cai Jing·2025-09-02 23:29Core Viewpoint - The company, Best (贝斯特), has shown significant growth in its financial performance, particularly in net profit and contract liabilities, indicating strong demand for its products and a solid growth logic behind its financials [3][9]. Financial Performance - As of Q2 2025, the company reported a net profit of 148 million yuan, representing a 33% increase year-on-year [3]. - Inventory reached 286 million yuan, up 4.23% from the previous year, while contract liabilities increased by 41% to 16.86 million yuan, indicating a robust order intake [3][9]. Growth Logic - The substantial increase in contract liabilities suggests that customers are eager to secure the company's products, reflecting strong market demand [3][5]. - The growth in inventory is a proactive measure to ensure timely delivery of products, driven by the high volume of customer orders [6][8]. - The increase in net profit is attributed to higher sales from increased orders and improved production efficiency, rather than financial engineering [8][9]. Future Outlook - The company is expected to continue experiencing profit growth due to a backlog of orders and its involvement in emerging sectors such as humanoid robots and hydrogen fuel cells, which are anticipated to attract more significant orders in the future [9][10].