NJEC(SH:600699) Xin Lang Zheng Quan·2025-10-31 16:01Core Viewpoint - Junsheng Electronics is a leading global automotive parts supplier with a strong focus on automotive electronics and new energy vehicles, showcasing a differentiated advantage across the entire industry chain [1] Group 1: Business Performance - In Q3 2025, Junsheng Electronics achieved a revenue of 45.844 billion, ranking first among 36 companies in the industry, significantly surpassing the second-place company, United Power, which reported 14.525 billion [2] - The net profit for the same period was 1.363 billion, also leading the industry, with United Power's net profit at 0.792 billion [2] Group 2: Financial Ratios - As of Q3 2025, Junsheng Electronics had a debt-to-asset ratio of 69.22%, higher than the previous year's 68.57% and above the industry average of 44.11% [3] - The gross profit margin for Q3 2025 was 18.31%, an increase from 15.59% year-on-year, but still below the industry average of 19.46% [3] Group 3: Shareholder Information - As of September 30, 2025, the number of A-share shareholders increased by 38.21% to 126,500, while the average number of circulating A-shares held per shareholder decreased by 28.33% to 10,700 [5] - Among the top ten circulating shareholders, Hong Kong Central Clearing Limited held 93.0212 million shares, an increase of 26.2934 million shares [5] Group 4: Future Outlook - Minsheng Securities noted that Junsheng Electronics' revenue and net profit attributable to shareholders grew year-on-year in the first three quarters of 2025, with Q3 performance exceeding expectations [6] - The company is positioned as a Tier 1 supplier in the automotive and robotics sectors, with significant new business orders amounting to approximately 40.2 billion for a single quarter [6] - Revenue projections for 2025-2027 are estimated at 62.249 billion, 64.995 billion, and 68.566 billion, with net profits of 1.619 billion, 1.980 billion, and 2.287 billion respectively [6]