NBFB(SH:600768) Zheng Quan Ri Bao·2025-12-12 16:40Core Viewpoint - Ningbo Fubon has demonstrated significant profit growth driven by rising silver prices, despite a slight decline in revenue in the third quarter of 2025 [2][3] Financial Performance - For the first three quarters of 2025, Ningbo Fubon achieved a revenue of 834 million yuan, an increase of 8.44% year-on-year; net profit attributable to shareholders was 16.14 million yuan, up 298.79% [2] - In the third quarter, the company reported a revenue of 297 million yuan, a decrease of 0.80% year-on-year; net profit attributable to shareholders was 6.46 million yuan, an increase of 121.65% [2] Industry Insights - The improvement in Ningbo Fubon's performance is characterized by cyclical factors, with profit growth more influenced by commodity price fluctuations than by substantial revenue expansion [3] - The growth in emerging markets is driven by the trends in new energy and smart technology, with increasing demands for high-performance materials in sectors like photovoltaic inverters and electric vehicles [3] Product and Customer Base - Ningbo Fubon has developed a comprehensive product system for electrical contact materials, enabling customized R&D and production to meet diverse customer needs [4] - The company has established long-term partnerships with major low-voltage electrical manufacturers and international brands, enhancing its market competitiveness in the Yangtze River Delta region [4] Asset Optimization - Ningbo Fubon has completed the transfer of equity in its aluminum profile company, with part of the payment received and the remainder expected to be settled within the year; efforts to divest low-efficiency assets are ongoing [4] Future Outlook - The company plans to focus on its core electrical contact materials business while expanding into new energy sectors and maintaining its market share in traditional fields [5] - Ningbo Fubon aims to explore resource integration opportunities and enhance its sustainable development capabilities through technological innovation and market expansion [5]