联明股份股价震荡上行，业绩增长但机构评级中性

Core Viewpoint - The company's stock price has been fluctuating around 14.10 yuan, with a recent 5-day increase of 1.95% and a net inflow of main funds [1] Financial Performance - For the first three quarters of 2025, the company reported a revenue of 593 million yuan, representing a year-on-year growth of 12.82% [2] - The net profit attributable to the parent company reached 58.41 million yuan, showing a year-on-year increase of 23.00% [2] - The main business segments include automotive parts accounting for 55.15% and logistics services for 23.40%, with orders for new energy vehicle-related products, such as water-cooled plates, gradually being fulfilled [2] Institutional Perspective - Current institutional ratings are neutral, with average market attention and valuations within a reasonable range [3] - The relative valuation range provided by Securities Star is between 12.53 and 13.85 yuan, indicating that the stock price aligns with industry standards [3] - There are no significant positive or negative drivers in public sentiment, and it is recommended to monitor industry policies and order developments [3]