PIVOT AUTO(SZ:301181) Xin Lang Cai Jing·2025-10-31 07:04Core Viewpoint - The company, established in 2009 and listed in 2022, specializes in the research, production, and sales of automotive nylon pipelines and connectors, positioning itself as a key player in the automotive supply chain in China [1] Group 1: Business Performance - In Q3 2025, the company reported revenue of 397 million yuan, ranking 50th among 55 companies in the industry, significantly lower than the top competitors, with the industry average at 215 million yuan [2] - The net profit for the same period was 89.42 million yuan, placing the company 25th in the industry, again trailing behind leading firms, while slightly exceeding the industry median of 78.31 million yuan [2] Group 2: Financial Ratios - The company's debt-to-asset ratio stood at 12.29% in Q3 2025, an increase from 9.98% year-on-year, but still well below the industry average of 40.56%, indicating strong solvency [3] - The gross profit margin was 32.35%, a slight decrease from 33.14% year-on-year, yet higher than the industry average of 21.56%, reflecting robust profitability [3] Group 3: Shareholder Information - As of September 30, 2025, the number of A-share shareholders decreased by 5.25% to 10,400, while the average number of shares held per shareholder increased by 4.56% to approximately 8,575 [5] - The top ten circulating shareholders saw a change, with one major fund exiting the list, indicating shifts in investor interest [5] Group 4: Growth Prospects - The company is experiencing steady revenue growth, with a significant 40.98% increase in overseas revenue in H1 2025, and a high gross margin of 53.04% in this segment [5] - The company is actively expanding into the new energy vehicle sector, with successful mass production of related thermal management pipelines and connectors for various models [5] - Forecasts for 2025 to 2027 project revenues of 563 million, 613 million, and 661 million yuan, with net profits of 130 million, 148 million, and 167 million yuan respectively, maintaining a "buy" rating [5]