研报掘金丨华鑫证券：模塑科技业绩有望稳步增长，维持“买入”评级

Core Viewpoint - The report from Huaxin Securities indicates that Moulding Technology's net profit attributable to shareholders for Q1-Q3 2025 is 375 million yuan, a year-on-year decrease of 30.42%, with Q3 net profit at 82 million yuan, down 54.79% year-on-year. Despite short-term pressure on net profit, the company has secured new project designations that lay a solid foundation for future growth [1] Group 1 - The company is a global leader in automotive exterior systems, supplying to top luxury brands such as BMW, Mercedes-Benz, and Audi, as well as prominent electric vehicle companies like Ideal and BYD, achieving comprehensive coverage of both traditional and emerging electric customers [1] - In Q3 2025, the company successfully obtained core project designations from several mainstream brands in the exterior parts segment, establishing a strong basis for future order growth and enhanced profitability [1] - The company's performance is expected to steadily improve due to the acquisition of multiple projects from well-known automotive enterprises, maintaining a "Buy" investment rating [1]