NJEC(SH:600699) 智通财经网·2025-12-01 01:51Core Viewpoint - Junsheng Electronics is set to accelerate value discovery and revaluation as it is expected to enter the Hong Kong Stock Connect list on December 4, attracting significant mainland capital due to its unique positioning in both the automotive and robotics sectors [1][9]. Group 1: Business Overview - Junsheng Electronics, established in 2004, initially focused on automotive components and has since expanded internationally through multiple acquisitions, establishing over 25 R&D centers and 60 production bases globally by April 30 this year [2]. - The company has successfully transitioned into the robotics sector, leveraging its automotive expertise to develop key components such as humanoid robot controllers and energy management modules [4]. Group 2: Financial Performance - For the first three quarters of this year, Junsheng Electronics reported revenue of 45.844 billion, a year-on-year increase of 11.45%, with Q3 revenue reaching 15.497 billion, up 10.25% year-on-year [4]. - The overall gross margin improved by 2.7 percentage points to 18.3% for the first three quarters, with Q3 gross margin at 18.6%, reflecting ongoing optimization of profitability [4][5]. Group 3: Business Segmentation - The automotive safety segment showed significant improvement, with a gross margin of approximately 16.4% for the first three quarters, up 2.4 percentage points year-on-year, and Q3 margin at 17.2% [5]. - New orders totaled 71.4 billion for the first three quarters, with Q3 alone accounting for 40.2 billion, indicating a strong upward trend in order acquisition [5]. Group 4: Strategic Positioning - Junsheng Electronics aims to cultivate long-term competitiveness globally by integrating its supply chain, production strategies, and R&D efforts, focusing on cost optimization and operational efficiency [8]. - The company is positioned as a Tier 1 supplier in both automotive and robotics sectors, leveraging its established methodologies and successful experiences to support the deployment of intelligent robots across various applications [8]. Group 5: Market Outlook - With its upcoming inclusion in the Hong Kong Stock Connect, Junsheng Electronics is expected to attract more investors, enhancing liquidity and accelerating its value revaluation process [9].