XUELONG(SH:603949) Zhong Guo Zheng Quan Bao - Zhong Zheng Wang·2025-11-19 00:44Core Viewpoint - The company reported significant growth in net profit for Q3 2025, driven by increased sales volume and improved internal management efficiency [1][2]. Group 1: Q3 Performance and Drivers - For the first nine months of 2025, the company's operating revenue increased by 17.93%, while the net profit attributable to shareholders, excluding non-recurring gains and losses, surged by 83.10% [1]. - In Q3 2025, the net profit attributable to shareholders, excluding non-recurring gains and losses, saw a remarkable increase of 218.78% [1]. - The growth was attributed to two main factors: increased sales volume of core products due to the recovery of the commercial vehicle market and ongoing optimization of internal management, including production automation and cost control [1]. Group 2: Future Performance and Sustainability - The company's performance sustainability is supported by steady growth in core products, effective cost management, the completion of new production facilities, and ongoing advancements in new energy products [2]. - The company plans to release production capacity effectively after the completion of new production bases, which will enhance operational efficiency and support long-term growth [2]. Group 3: New Energy Business Developments - In the new energy commercial vehicle sector, the company’s high and low-voltage electronic fans are positioned as key components, with ongoing trials and the construction of new factories expected to drive future growth [3]. - The company possesses a nearly complete production chain, enhancing product competitiveness through high self-manufacturing rates [3]. - Core technologies developed, such as low-voltage electronic fan assembly technology, have the potential to be adapted for new energy passenger vehicle thermal management systems, providing avenues for future market expansion [3]. Group 4: Capacity and Client Development - The company is currently operating at a high capacity utilization rate and is developing a new innovation and digital factory project to address increasing order demands, which will significantly enhance manufacturing scale and responsiveness [4][5]. - The company has successfully expanded its client base, establishing strong partnerships with numerous high-end domestic and international clients, including major manufacturers in the commercial vehicle sector [5].