JQH(SZ:002885) Ju Chao Zi Xun·2025-10-30 10:21Core Viewpoint - The performance report of Jingquanhua for Q3 2025 shows significant growth in revenue and net profit, driven by expansion in overseas markets and sectors like data centers and renewable energy [2][4]. Financial Performance - In Q3 2025, the company achieved a revenue of 876 million yuan, representing a year-on-year increase of 13.81% [2][3]. - The net profit attributable to shareholders reached 30.57 million yuan, a substantial year-on-year growth of 478.12% [2][3]. - The net profit excluding non-recurring gains and losses was 17.37 million yuan, up 418.98% year-on-year [2][3]. - For the first three quarters of 2025, total revenue was 2.6 billion yuan, an increase of 23.96% compared to the same period last year [2][3]. - The net profit attributable to shareholders for the first three quarters was 71.87 million yuan, reflecting a growth of 69.74% [2][3]. - The net profit excluding non-recurring gains and losses for the same period was 53.03 million yuan, up 71.55% year-on-year [2][3]. Business Segments and Growth Drivers - Jingquanhua's growth is attributed to its active expansion in overseas markets and deepening involvement in high-growth sectors such as data centers and renewable energy [4]. - The company operates in three main segments: magnetic components, power supplies, and special transformers, with applications in renewable energy generation and storage, electric vehicles, and industrial automation [4]. - In the renewable energy sector, Jingquanhua's products cover three major scenarios: solar storage inverters, electric vehicle charging piles, and electric vehicles, becoming a key driver of revenue growth due to policy support and downstream demand [4]. - Special transformers, as the largest revenue source for Jingquanhua, have shown strong growth in data center applications, particularly in the server sector where demand for magnetic components for UPS (uninterruptible power supply) is rising due to global digitalization [4]. - The company's focus on developing solid-state transformer (SST) technology is expected to be a critical factor for future growth [4].