Ge Long Hui A P P·2025-10-28 06:00Core Viewpoint - The report from Zheshang Securities indicates that Genesis achieved a net profit attributable to shareholders of approximately 348 million yuan in the first three quarters of 2025, representing a year-on-year increase of 72.56% [1] - In Q3, the net profit attributable to shareholders was about 115 million yuan, showing a year-on-year growth of 164.38% but a quarter-on-quarter decline of 14.96% [1] Company Performance - The growth in performance for the first three quarters of 2025 is primarily attributed to the sustained high prosperity of the 3C industry, with the company's flagship product, the 3C-type drilling and milling machining center, demonstrating strong market competitiveness [1] - The company's market share is leading the industry, indicating a robust position in the market [1] Industry Trends - The consumer electronics industry is currently in a recovery phase, coupled with an upward trend in innovation cycles [1] - Apple, as a leading player in consumer electronics, maintains a strong competitive advantage and is expected to continue driving industry growth during the new innovation cycle, with terminal sales likely to exceed expectations [1] - The demand for upstream equipment in the supply chain is anticipated to show unexpected elasticity due to the recovery in terminal sales [1] - New fields such as humanoid robots and low-altitude economy are experiencing significant growth from 0 to 1 development, which is expected to substantially increase demand for upstream equipment [1] Investment Rating - The report maintains a "Buy" rating for the company, reflecting confidence in its growth prospects and market position [1]