Ge Long Hui A P P·2025-10-31 06:53Core Viewpoint - Dongwu Securities report indicates that Xingyu Co., Ltd. achieved a net profit attributable to shareholders of 1.141 billion yuan in the first three quarters of 2025, representing a year-on-year increase of 16.76% [1] Financial Performance - In Q3 2025, the company reported a net profit attributable to shareholders of 435 million yuan, which is a year-on-year increase of 13.48% and a quarter-on-quarter increase of 13.08% [1] - The Q3 2025 performance met expectations [1] Growth Drivers - The company's growth is driven by a dual strategy of "product upgrades and customer expansion" [1] - As a leading domestic automotive lighting enterprise, the company is expected to continue benefiting from product upgrades and customer expansion [1] Global Expansion - The company's Serbia factory is gradually releasing production capacity [1] - Xingyu has registered new entities in Mexico and the United States, indicating a continued push for global expansion and overseas market development [1] Investment Rating - The report maintains a "buy" rating for the company, reflecting confidence in its long-term growth prospects [1]