KSHG(SH:605333) 车中旭霞·2025-11-05 03:24Core Viewpoint - In Q3 2025, the company achieved revenue of 2.2 billion yuan, a year-on-year increase of 4.5% [2] Financial Performance - For the first three quarters of 2025, the company reported revenue of 5.838 billion yuan, up 5.54% year-on-year, and a net profit attributable to shareholders of 425 million yuan, down 3.10% year-on-year [3] - In Q3 2025, the company achieved revenue of 2.209 billion yuan, a year-on-year increase of 4.47% and a quarter-on-quarter increase of 5.82% [8] - The gross profit margin in Q3 2025 was 15.4%, down 4.9 percentage points year-on-year and down 1.2 percentage points quarter-on-quarter [5][18] - The net profit margin in Q3 2025 was 6.7%, down 2.0 percentage points year-on-year and down 2.1 percentage points quarter-on-quarter [5][18] Business Development - The company focuses on high and low voltage harnesses, with a dual increase in volume and price [6] - The company has made significant progress in new product categories such as drone harnesses and robotic harnesses, successfully delivering hundreds of units and securing new project orders [7] - The company has diversified its customer base, with the top five customers' revenue share decreasing from 99% in 2015 to 80.22% in 2024, with a significant contribution from new energy vehicle clients [7][28] Strategic Initiatives - The company is actively optimizing its customer structure and expanding its market presence, focusing on high-quality development and technological innovation [33][37] - The company is enhancing its connector product line to increase added value and create a second growth engine [34] - The company is investing in innovative technologies and exploring new fields, including drone and robotic harnesses, to build a diversified business layout [36]