Core Viewpoint - Huaxin Jingke (603370.SH) has been listed on the Shanghai Stock Exchange, focusing on the research, production, and sales of precision stamping products, particularly precision stamping iron cores and related molds [1][4]. Company Overview - The company specializes in precision stamping iron cores, which include various types such as those for electric vehicle drive motors, micro-special motors, electrical equipment, and ignition coils [6]. - Huaxin Jingke's main revenue source is the precision stamping iron core business, which has consistently contributed over 90% of total revenue, with over 50% coming from electric vehicle drive motor iron cores [6][8]. Financial Performance - The projected revenues for Huaxin Jingke from 2022 to 2024 are approximately CNY 11.92 billion, CNY 11.89 billion, and CNY 14.21 billion, with corresponding net profits of CNY 1.14 billion, CNY 1.56 billion, and CNY 1.5 billion [6]. - In the first half of 2025, the company achieved total revenue of CNY 7.52 billion, reflecting a year-on-year growth of 19.40%, and a net profit of CNY 983.45 million, up 13.52% year-on-year [6]. Market Position - Huaxin Jingke ranks among the top three manufacturers in the global and Chinese automotive iron core market from 2021 to 2023 [6]. - The company has established significant client relationships, including partnerships with major automotive and electric motor manufacturers such as BYD, Valeo, and BorgWarner [7]. Investment and Expansion Plans - The company plans to use the raised funds primarily for the expansion of its electric vehicle drive motor iron core production capacity, aiming to add an annual production capacity of 1 million high-end drive motor cores [7]. - The production capacity utilization rates for the electric vehicle drive motor iron cores were 84.98%, 48.71%, and 60.97% from 2022 to 2024, indicating fluctuations in demand and production efficiency [8].