Core Insights - The company reported a robust recovery in its third-quarter performance, with significant improvements in revenue and cash flow, indicating a positive business recovery trend [2][3] Financial Performance - In Q3 2025, the company achieved a revenue of 1.065 billion yuan, representing a quarter-on-quarter growth of 12.34% from 948 million yuan in Q2 [2] - The net cash flow from operating activities for the first three quarters reached 55.6467 million yuan, a substantial year-on-year increase of 115.19%, reflecting improved cash management and efficiency [2] - Total assets increased to 14.726 billion yuan, up 3.46% from the beginning of the year, indicating a healthy financial structure [2] Strategic Development - The company has invested 644 million yuan in R&D over the first three quarters, emphasizing its commitment to technological innovation and product iteration [3] - The proportion of high-end products in the company's portfolio has been steadily increasing, with RF module revenue accounting for 44.35% in the first half of 2025 [3] - The company is advancing its production capacity with significant improvements in utilization rates for its 6-inch and 12-inch production lines, achieving high yield rates [3] Market Expansion - The company plans to expand its business into IoT, smart home, health monitoring, and automotive electronics, aiming for a strategic upgrade from "core terminal" to "full scene coverage" [4] - Future initiatives will include increasing R&D investment, optimizing product structure, and enhancing operational efficiency to strengthen overall capabilities and deliver stable long-term returns to shareholders [4]
卓胜微三季度营收环比增长超12%，经营韧性显现