Lontium(SH:688486) Xin Lang Cai Jing·2025-10-30 13:30Core Viewpoint - Longxin Co., Ltd. is a leading domestic company in the design of high-definition video and high-speed signal transmission chips, with a strong technical foundation and a diverse product line [1] Group 1: Business Performance - In Q3 2025, Longxin's revenue was 389 million yuan, ranking 40th in the industry, significantly lower than the top competitors, OmniVision and Jiangbolong, with revenues of 21.783 billion yuan and 16.734 billion yuan respectively [2] - The main business revenue composition includes 233 million yuan from high-definition video bridging and processing chips, accounting for 94.23%, and 13.5 million yuan from high-speed signal transmission chips, accounting for 5.47% [2] - Net profit for Q3 2025 was 125 million yuan, ranking 24th in the industry, again significantly lower than the top competitors, but higher than the industry median of 107 million yuan [2] Group 2: Financial Ratios - As of Q3 2025, Longxin's debt-to-asset ratio was 4.75%, which is much lower than the industry average of 24.46%, indicating strong solvency [3] - The gross profit margin for Q3 2025 was 55.94%, slightly lower than the previous year's 55.98%, but still above the industry average of 36.52%, reflecting strong profitability [3] Group 3: Shareholder Information - As of September 30, 2025, the number of A-share shareholders increased by 79.14% to 10,700, while the average number of circulating A-shares held per shareholder decreased by 44.18% to 6,957.45 [5] - Among the top ten circulating shareholders, Fuguo New Industry Stock A/B increased its holdings by 2.161 million shares, while other funds like Taixin Zhongxiaopan and Guotai Smart Car Stock A saw reductions in their holdings [5] Group 4: Future Outlook - According to招商证券, Longxin's revenue is expected to grow steadily, with projections for 2025-2027 being 581 million, 846 million, and 1.201 billion yuan respectively, with corresponding net profits of 185 million, 259 million, and 363 million yuan [6] - 华安证券 also forecasts revenue growth for 2025-2027, estimating 670 million, 960 million, and 1.36 billion yuan, with net profits of 200 million, 300 million, and 430 million yuan respectively [6]