Ge Long Hui A P P·2025-11-17 08:51Core Viewpoint - Longzheng Technology's net profit for Q1 to Q3 of 2025 reached 2.843 billion yuan, representing a year-on-year growth of 19.91%, with Q3 alone achieving a net profit of 1.7 billion yuan, up 12.62% year-on-year, driven by increased iPhone 17 sales and core contributions from the company's mid-frame business [1] Financial Performance - The net profit for Q1 to Q3 of 2025 was 2.843 billion yuan, a 19.91% increase year-on-year [1] - In Q3, the net profit was 1.7 billion yuan, reflecting a year-on-year growth of 12.62% [1] Business Segments - The mid-frame business has significantly contributed to the company's growth due to the strong sales of iPhone 17 [1] - In the smart automotive sector, the product matrix for smart cockpits is becoming increasingly diverse, with ultra-thin laminated car window glass being introduced to leading domestic car manufacturers [1] Future Outlook - The current gross margin is still affected by the Mexican factory, but the company is gradually advancing the relocation of this factory, which is expected to lead to dual growth in revenue and gross margin in the future [1] - The company is anticipated to achieve net profits of 5.070 billion, 6.956 billion, and 8.182 billion yuan for the years 2025, 2026, and 2027 respectively, maintaining a "buy" rating [1]