Bojay(SZ:002975) Zhong Guo Jin Rong Xin Xi Wang·2025-12-23 10:21Core Viewpoint - In 2025, companies in the A-share AI industry chain are experiencing significant profitability, with equipment manufacturers seeing substantial stock price increases, exemplified by Bojie Co., which has seen its stock price rise over 159% by December 23, 2025 [1] Company Performance - Bojie Co. reported a net profit of 1.06 billion yuan for the first three quarters of 2025, marking a year-on-year increase of 6760.5% [9] - The company has shown strong quarterly growth, with net profit growth rates of 297.78% and 109.42% in the second and third quarters, respectively [9] - The company has applied for over 1,000 patents, with a threefold increase since 2020, and nearly 74% of these are utility model patents [6] Business Segments - Bojie Co. operates in various sectors, including consumer electronics, big data cloud services, new energy vehicles, semiconductors, and passive components, serving major global clients such as META, Microsoft, and Google [6] - The company’s revenue from domestic and international sales is 64.23% and 35.77%, respectively, with international sales achieving a gross margin of 53.97% compared to 38.59% for domestic sales [6] Technological Advancements - The company has made significant advancements in humanoid robots and AI computing power, which are key drivers of its improved performance [10] - Bojie Co. has developed high-precision inertial sensor testing platforms for humanoid robots and is expanding its capabilities in AI server testing, having secured vendor codes for new business opportunities [10][12] Future Outlook - The company anticipates continued growth in AI server and automotive electronics equipment demand, with significant orders already in place [11] - Bojie Co. expects to deliver equipment for N clients in bulk by mid-2026, with projected demand reaching the low four-digit range [12]