NJEC(SH:600699) Chang Jiang Shang Bao·2026-01-29 01:24Core Viewpoint - Company is expected to achieve a net profit of approximately 1.35 billion yuan in 2025, representing a year-on-year increase of about 40.56%, driven by strong growth in its core automotive electronics and robotics sectors [1][2]. Group 1: Financial Performance - The forecasted net profit for 2025 is approximately 1.35 billion yuan, with a year-on-year growth of about 40.56% [2]. - The expected net profit excluding non-recurring losses is around 1.5 billion yuan, reflecting a year-on-year increase of approximately 17.02% [2]. - The company’s core profitability remains strong even after excluding about 160 million yuan in non-recurring losses, which are primarily due to business transfers and overseas factory optimizations [2]. Group 2: Automotive Electronics Business - The company secured over 20 billion yuan in mass production orders in the core area of intelligent driving for 2025, indicating strong market recognition of its products and technologies [2]. - The company maintains a leading position in the automotive electronics and safety sector, with significant advancements in intelligent driving technologies and product offerings [2]. - Collaborations with companies like Hezhima Intelligent and Momenta have enhanced the company’s full industry chain layout from chips to overall solutions [2]. Group 3: Robotics Sector Development - The company has initiated a dual-track development model focusing on "automotive + robotics Tier 1," leveraging decades of experience in automotive R&D and manufacturing [3]. - A wholly-owned subsidiary, Ningbo Junsen Embodied Intelligent Robotics Co., has been established to focus on key components for robotics, achieving substantial breakthroughs in 2025 [3]. - The company has successfully entered the supply chain for Tesla's Optimus robot, providing critical components and establishing partnerships with other leading firms [3]. Group 4: Future Outlook - The company plans to continue focusing on the two core tracks of intelligent driving and robotics, leveraging its system-level delivery capabilities and global layout [4]. - The dual-track strategy is expected to release growth potential and enhance global market competitiveness as the penetration of automotive intelligence and the industrialization of robotics accelerate [4].