LUXSHARE-ICT(SZ:002475) Zheng Quan Shi Bao Wang·2025-11-02 08:39Core Insights - The company reported strong performance in Q3 2025, exceeding market expectations with significant revenue and profit growth [1][2] - The company has demonstrated confidence in sustained growth by releasing its full-year earnings forecast [1][5] Financial Performance - For the first three quarters, the company achieved revenue of 220.915 billion yuan, a year-on-year increase of 24.69%, and a net profit attributable to shareholders of 11.518 billion yuan, up 26.92% [2] - In Q3 alone, revenue reached 96.411 billion yuan, reflecting a year-on-year growth of 31.03% and a quarter-on-quarter surge of 53.73% [2] - The net profit for Q3 was 4.874 billion yuan, marking a year-on-year increase of 32.49% and a quarter-on-quarter growth of 35.36% [2] Non-Recurring Gains - Non-recurring gains significantly contributed to profit growth, including a 479 million yuan gain from the acquisition of subsidiaries below their fair value [3] - The company also generated approximately 330 million yuan from foreign exchange derivatives and financial operations, showcasing effective risk management and capital operation capabilities [3] Strategic Expansion - The company has successfully executed its "internal and external" dual-driven strategy, completing acquisitions of assets from Leoni and Wistron [4] - Leoni's expertise in automotive wiring and the company's existing capabilities in automotive electronics are expected to create stable revenue growth in the automotive sector [4] - The ODM/OEM business from Wistron is anticipated to enhance the company's supply chain and market coverage in consumer electronics [4] Business Segments and Future Outlook - The company’s core business segments—consumer electronics, communication and data centers, and automotive—are expected to grow in synergy, forming a stable growth matrix [4] - The automotive segment continues to show high growth, with increasing product penetration in areas like wireless charging and smart cockpit components [5] - The company plans to expand into emerging fields such as AI hardware, data center interconnectivity, thermal management, smart vehicles, and robotics, enhancing long-term growth certainty [5] - The full-year profit forecast indicates an expected net profit of 16.518 billion to 17.186 billion yuan, representing a year-on-year growth of 23.59% to 28.59% [5]