KSHG(SH:605333) Ju Chao Zi Xun·2025-10-27 14:35Core Insights - The company reported a revenue of 2.209 billion yuan for Q3 2025, representing a year-on-year growth of 4.47%, while the net profit attributable to shareholders decreased by 19.10% to 148 million yuan [1][3] - For the first three quarters of 2025, the cumulative revenue reached 5.838 billion yuan, showing a year-on-year increase of 5.54%, but the net profit fell by 3.10% to 425 million yuan [3] - The company attributed the pressure on overall profitability to fluctuations in raw material prices and the ramp-up period of certain projects, although it noted that its main business remains stable due to the production of new customers and new vehicle projects [3] Company Overview - The company is a leading supplier of automotive wiring harness systems in China, primarily serving the new energy vehicle and intelligent connected vehicle sectors [3] - It maintains long-term partnerships with several mainstream automakers, including Tesla, NIO, Li Auto, Xpeng, Volkswagen, and BMW [3] Industry Outlook - Industry experts believe that the company has a well-established position in the new energy vehicle supply chain, and as trends toward intelligence and lightweighting progress, its wiring harness business is expected to benefit from the increasing penetration of electric vehicles, with future profitability likely to gradually recover [3]