LUXSHARE-ICT(SZ:002475) Zhong Zheng Wang·2025-10-31 13:24Core Insights - Lixun Precision reported a revenue of 220.91 billion yuan for the first three quarters of 2025, representing a year-on-year growth of 24.69%, and a net profit attributable to shareholders of 11.52 billion yuan, up 26.92% year-on-year [1] - The company experienced a significant decline in net cash flow from operating activities, which fell by 47.89% to 3.48 billion yuan, primarily due to increased purchases and employee compensation [1] Business Development - Lixun Precision has completed the acquisition of assets from Lainai and Wentai Technology, enhancing operational efficiency through vertical integration and resource sharing [2] - The company is focusing on three main business segments: consumer electronics, communication and data centers, and automotive, leveraging an "internal and external" strategy for collaborative growth [2] - In the consumer electronics sector, the demand for high-precision, miniaturized, and multifunctional integrated components is surging due to the AI-driven transformation of smart terminals [2] - The communication and data center segment is benefiting from the rapid growth of generative AI applications, with strong demand for high-speed optical interconnects and thermal management solutions [3] - The automotive segment is expanding into core components for smart cockpits, intelligent driving assistance, and power systems, supported by deep collaborations with major manufacturers [3] Future Outlook - Lixun Precision forecasts a net profit for 2025 between 16.52 billion and 17.19 billion yuan, indicating a year-on-year growth of 23.59% to 28.59% [3] - The company aims to enhance its global strategy by leveraging overseas production bases to meet regional market demands and improve cost advantages [4] - Future investments will focus on emerging fields such as AI edge hardware, high-speed interconnects for data centers, thermal management, smart vehicles, and robotics [4]