Enpower(SZ:300681) 车中旭霞·2025-09-16 14:49Core Viewpoint - In Q2 2025, the company achieved revenue of 823 million yuan, a year-on-year increase of 50% [10][47] - For H1 2025, the company reported total revenue of 1.37 billion yuan, up 33.8% year-on-year, with a net profit of 37.13 million yuan, reflecting a 7.0% increase [10][11] Financial Performance - Q2 2025 revenue reached 823 million yuan, a 49.8% year-on-year increase and a 50.8% quarter-on-quarter increase [10][11] - H1 2025 revenue from power assembly was 620 million yuan, up 24.4% year-on-year, while electric drive assembly revenue was 540 million yuan, up 125.1% year-on-year [10][11] - The company’s gross margin for H1 2025 was 15.0%, a year-on-year increase of 1.5 percentage points [15] Product and Market Development - The company is a leading enterprise in China with independent R&D and production capabilities in both electric drive systems and power systems for the new energy sector [4][21] - In the new energy passenger vehicle sector, the company has established long-term partnerships with major automakers such as GAC Honda, Dongfeng Nissan, and Geely [4][25] - The company has made significant strides in the low-altitude economy, forming partnerships with leading firms like EHang and Yihang [5][42] Strategic Collaborations - A joint venture with EHang has been established to meet the assembly capacity needs for the EH216-S model, with construction and equipment debugging underway [6][42] - Collaborations with Fengli Intelligent Technology focus on developing advanced transmission modules for various applications, including eVTOL and engineering machinery [7][45] Industry Position and Innovations - The company has been recognized as a top-tier supplier in the domestic market for new energy vehicle power assemblies and drive assemblies [30][29] - The introduction of the "integrated chip" technology has enhanced product performance, power density, and cost-effectiveness, positioning the company favorably in the competitive landscape [34][35] Future Outlook - The company aims to leverage its technological advantages to expand its market share in the rapidly evolving sectors of eVTOL and autonomous logistics vehicles [25][41] - The strategic focus on high-performance, lightweight power systems is expected to drive growth in both the new energy and low-altitude economy markets [42][45]