GKG(SZ:301338) Zheng Quan Shi Bao Wang·2025-10-29 09:25Core Insights - The company continues its growth trajectory, with a reported revenue of 77,492.44 million yuan for the first three quarters of 2025, representing a year-on-year increase of 34.21% [1] - Net profit attributable to shareholders reached 12,125.70 million yuan, up 175.35% year-on-year, with a net profit of 5,411.50 million yuan in the third quarter alone, reflecting a 227.15% increase [1] - The growth in revenue is primarily driven by an increase in acceptance amounts for solder paste printing equipment, alongside rising demand for AI servers and consumer electronics [1] Financial Performance - The net profit excluding non-recurring gains and losses was 11,585.37 million yuan, showing a significant year-on-year growth of 199.57% [1] - The company has achieved a historical high in contract liabilities by the end of the third quarter, indicating a robust order backlog and resilience in future performance [1] Research and Development - The company adheres to the philosophy that "good products are designed," increasing investment in its R&D center, with R&D expenditures as a percentage of revenue at 10.06%, 9.12%, and 9.15% for 2023, 2024, and the first half of 2025, respectively [2] - As of June 30, 2025, the company holds 285 patents, including 104 invention patents, 176 utility model patents, and 5 design patents, along with 30 software copyrights [2] Incentive Mechanisms - In August 2023, the company launched a restricted stock incentive plan for 69 core technical personnel, granting 586,500 shares, aimed at stabilizing the core team to sustain excellent performance [2] - This incentive mechanism is seen as a key driver for unlocking team potential and securing future growth, reflecting the company's commitment to long-term development through institutional building [2]