TARRY(SZ:300976) Chang Jiang Shang Bao·2025-10-21 00:04Core Viewpoint - Darui Electronics (300976.SZ) has achieved significant growth in its performance for the first three quarters of 2025, driven by its dual focus on "consumer electronics" and "new energy" sectors, with a revenue of 2.278 billion yuan and a net profit of 231 million yuan, reflecting year-on-year increases of 28.59% and 26.84% respectively [1][2]. Group 1: Financial Performance - In the first three quarters of 2025, Darui Electronics reported a revenue of 2.278 billion yuan, up 28.59% year-on-year, and a net profit of 231 million yuan, up 26.84% year-on-year [1][2]. - For the third quarter of 2025, the company achieved a revenue of 873 million yuan, representing a year-on-year growth of 29.48%, and a net profit of approximately 98.94 million yuan, which is a 28.92% increase year-on-year [3]. Group 2: Market Position and Strategy - Darui Electronics has established a strong customer base in the consumer electronics sector, including major brands such as Apple, Sony, and Microsoft, and has successfully entered the supply chains of leading companies in the new energy sector like CATL, BYD, and Tesla [1][4]. - The company has strategically positioned itself in the new energy market since 2022, focusing on the development of structural and functional components, which has contributed to its revenue growth [2][4]. Group 3: Growth Drivers - The growth in Darui Electronics' performance is attributed to the recovery in the consumer electronics market driven by advancements in AI models and the increasing demand for power and energy storage batteries in the global new energy vehicle market [2]. - The company’s revenue from the consumer electronics business reached 807 million yuan in the first half of 2025, a year-on-year increase of 5.91%, while the new energy business revenue was 585 million yuan, up 81.32% year-on-year, driven by large orders from key customers and an increase in high-value products [4]. Group 4: Strategic Acquisitions - In 2025, Darui Electronics acquired Vistech to enhance its product offerings, integrating a full system solution for "glass fiber-carbon fiber" and advancing lightweight material research to meet the needs of high-end consumer electronics and AI sectors [5]. - Vistech specializes in carbon fiber products used in various consumer electronics applications, including components for foldable screens, and has established a leading position in product quality metrics [5].