LY iTECH(SZ:002600) Chang Jiang Shang Bao·2025-10-14 23:34Core Viewpoint - Leading AI terminal hardware supplier Lingyi iTech is experiencing significant growth in its operating performance, with projected net profit for the first three quarters of 2025 expected to exceed 30% year-on-year growth [1][3]. Financial Performance - For the first three quarters of 2025, Lingyi iTech anticipates a net profit of 18.90 billion to 21.20 billion yuan, representing a year-on-year increase of 34.10% to 50.42% [3][4]. - The third quarter alone is projected to yield a net profit of 9.60 billion to 12 billion yuan, marking a year-on-year growth of 32.35% to 65.44% [4]. - Excluding stock incentive amortization, the third quarter net profit is expected to be between 10.60 billion and 12.90 billion yuan, indicating a growth of 44.55% to 75.92% [4]. Growth Drivers - The strong performance is attributed to two main factors: the launch of new products and increased production line utilization, along with significant revenue growth from overseas factories [1][4]. - Lingyi iTech's international sales have become a major revenue source, with overseas sales accounting for 74.21% of total revenue in the first half of 2025, up from 71.72% in 2024 [7][8]. Market Position and Strategy - Lingyi iTech has established itself as a leader in the global consumer electronics market, with a focus on precision functional components and smart manufacturing solutions [7]. - The company is planning to list on the Hong Kong Stock Exchange to enhance its international strategy and improve its global competitiveness [8]. Research and Development - Lingyi iTech has invested 11.20 billion yuan in R&D in the first half of 2025, reflecting a year-on-year increase of 21.41% [8]. - The company holds a total of 1,935 patents as of June 30, 2025, showcasing its commitment to innovation [9].