Ge Long Hui A P P·2025-10-31 07:41Core Insights - Huajin Technology achieved a net profit attributable to shareholders of 3.099 billion yuan in the first three quarters, representing a year-on-year increase of 51.17% [1] - In Q3 2025 alone, the net profit attributable to shareholders was 1.210 billion yuan, showing a year-on-year growth of 59.46% and a quarter-on-quarter increase of 15.53% [1] - The company's revenue for the first three quarters of 2025 surpassed the total revenue for the entire year of 2024, indicating strong growth across various business segments under the 3+N+3 strategy [1] Business Performance - The smart terminal business generated revenue of 45 billion yuan in the first three quarters, with smartphones, as a mature business, showing good growth [1] - The expected growth rate for smartphone shipments in 2025 is over 30%, indicating a significant growth potential in the future [1] - The company is continuously optimizing its customer structure and increasing efforts in market expansion, which is contributing to the gradual improvement of gross margins [1] Product Strategy - There is an increasing proportion of switches and general servers in the product mix, which is further supporting the enhancement of gross margins [1] - The company maintains a "buy" rating, reflecting confidence in its ongoing growth and strategic direction [1]