Xin Lang Cai Jing·2025-11-10 07:31Core Viewpoint - The company, Jieban Technology, experienced a decline in stock price by 5.86% on November 10, with a trading volume of 219 million yuan and a market capitalization of 7.947 billion yuan [1] Business Overview - Jieban Technology specializes in customized precision functional and structural components, providing services including product design, material selection, mold design, trial production, testing, and mass production [7] - The company's revenue composition includes 92.70% from precision manufacturing products, 5.79% from new materials, and 1.51% from other sources [7] Client and Revenue Dependency - The company’s liquid cooling server business is progressing as planned, but specific project details are confidential due to non-disclosure agreements with clients [2] - Major clients include Foxconn, Quanta Computer, Compal Electronics, Catcher Technology, and BYD, with sales to Foxconn accounting for 35.58%, 36.85%, and 39.52% of total revenue in recent periods [2] - A significant portion of the company's products is used in Apple’s laptops and tablets, with sales to Apple products representing 85.22%, 77.95%, and 81.27% of total revenue [2] Product Applications - The company’s carbon nanotube products, primarily conductive pastes, are used in power lithium batteries and consumer and energy storage lithium batteries, with supply agreements in place with several new energy manufacturers, including CATL and BYD [2] Financial Performance - For the period from January to September 2025, Jieban Technology achieved a revenue of 962 million yuan, reflecting a year-on-year growth of 62.04%, while the net profit attributable to the parent company was a loss of 12.5763 million yuan, a decrease of 1762.51% year-on-year [7] - As of September 30, 2024, the company’s overseas revenue accounted for 67.79%, benefiting from the depreciation of the yuan [3] Shareholder and Institutional Holdings - As of September 30, 2025, the number of shareholders increased by 12.82% to 7464, while the average circulating shares per person decreased by 10.24% [7] - New institutional shareholders include several funds, with notable positions held by various 富国 (Fuguo) funds [9]