NJEC(SH:600699) 车中旭霞·2025-11-13 06:02Core Viewpoint - In Q3 2025, Junsheng Electronics achieved a net profit of 410 million yuan, representing a year-on-year increase of 35% [2] Financial Performance - For the first three quarters of 2025, the company reported revenue of 45.844 billion yuan, up 11.45% year-on-year, and a net profit attributable to shareholders of 1.12 billion yuan, up 18.98% year-on-year [3][12] - In Q3 2025, the company achieved revenue of 15.497 billion yuan, a year-on-year increase of 10.25% but a quarter-on-quarter decrease of 1.74%, with a net profit of 413 million yuan, up 35.40% year-on-year and up 12.37% quarter-on-quarter [3][12] - The gross profit margin in Q3 2025 was 18.6%, an increase of 2.9 percentage points year-on-year and 0.2 percentage points quarter-on-quarter [3][16] Order Growth and Structure - The company has a robust order backlog, with new orders in Q3 2025 amounting to approximately 40.2 billion yuan, and a total of 71.4 billion yuan in new orders for the first three quarters [4][5][33] - The new orders include approximately 39.6 billion yuan for automotive safety and about 31.8 billion yuan for automotive electronics, with a growing proportion from leading domestic brands and new car manufacturers [5][33] Automotive Electronics Business - Junsheng Electronics is accelerating its automotive electronics business, having secured new projects for intelligent driving and smart cockpit solutions, with expected total order values of approximately 15 billion yuan and 5 billion yuan respectively [7][8][40] Robotics and Intelligent Systems - The company is positioning itself as a "Tier 1" provider in the automotive and robotics sectors, actively developing humanoid robotics and related components, including control systems and energy management modules [9][52][53] - In H1 2025, Junsheng Electronics launched a humanoid robot subsidiary and began offering integrated solutions for key components in robotics [53][56] Innovation and R&D - The company is committed to continuous innovation in automotive electronics and robotics, focusing on areas such as intelligent cockpit, intelligent driving, and high-voltage fast charging systems [35][36] - Junsheng Electronics has made significant advancements in its intelligent cockpit solutions, integrating various technologies to enhance user interaction and vehicle connectivity [37][41] Market Expansion and Global Strategy - The company is leveraging its global manufacturing and R&D capabilities to support Chinese automotive brands in their international expansion, particularly in Europe and Southeast Asia [49][50] - Junsheng Electronics is actively participating in the development of intelligent safety systems and has been involved in setting industry standards and regulations [46][44]