Ningbo Sunrise(SZ:002937) Xin Lang Cai Jing·2025-09-06 00:40Group 1: Strategic Partnerships and New Product Development - The company has signed a strategic cooperation framework agreement with Green Cloud Map to develop liquid cooling server products, enhancing its capabilities in precision manufacturing and thermal management in data centers [1] - The company is collaborating with Green Cloud Map on the research and development of a series of products including server cabinets, liquid cooling heads, and cooling modules [1] - The company is expanding its production capacity in Thailand, increasing its investment from $11 million to $20 million to support its automotive electronics and server structural components business [1] Group 2: Automotive Electronics Business Recovery - The company is a leading domestic manufacturer of automotive embedded plastic parts, facing a 22% year-on-year decline in automotive electronics revenue to 455 million yuan due to short-term factors [2] - The company is beginning to see production ramp-up from second batch customers like Nidec and Hitachi, while expanding its embedded plastic products into the electric control sector and making progress in smart driving product development [2] - The company has successfully entered the precision structural component field for laser radar and millimeter-wave radar, with its developed fisheye terminals being applied in various connection products [2] Group 3: Growth in Smart Terminal Business - The company's smart terminal products, used in smart set-top boxes, networking gateways, and smart meters, generated 230 million yuan in revenue in the first half of 2025, a 6% year-on-year increase [3] - The rapid development of AI technology and the increasing demand for foundational devices like connectors and network equipment are expected to drive growth in the smart terminal business [3] - The company has established long-term stable partnerships with major clients, which is anticipated to contribute to revenue growth in the smart terminal sector [3] Group 4: Financial Projections - The company is expected to see revenue growth in its automotive electronics business and new contributions from its server and liquid cooling module sectors, with projected revenues of 2.04 billion, 2.34 billion, and 2.68 billion yuan from 2025 to 2027 [3] - The projected net profits for the same period are 230 million, 280 million, and 330 million yuan, indicating a positive outlook for the company's financial performance [3]