Core Viewpoint - Bojun Technology (300926) expects significant growth in net profit and non-recurring profit for the first three quarters of 2025, driven by the booming electric vehicle industry and increased orders [1] Financial Performance - The company anticipates net profit between 552 million to 662 million yuan, representing a year-on-year increase of 50% to 80% [1] - For the third quarter, net profit is projected to be between 244 million to 285 million yuan, reflecting a year-on-year growth of 80% to 110% [1] - In the first half of the year, Bojun Technology achieved operating revenue of 2.512 billion yuan, net profit of 352 million yuan, and non-recurring net profit of 351 million yuan, with year-on-year growth rates of 45.77%, 51.95%, and 51.66% respectively [2] Business Operations - Bojun Technology specializes in the research, design, production, and sales of precision automotive components and molds, offering a one-stop solution for various automotive systems [2] - The company has established strong partnerships with major automotive manufacturers such as Geely, Changan, BYD, and Xpeng, enhancing its market presence [2] Production Capacity and Expansion - The main production bases are located in Jiangsu and Chongqing, strategically positioned near major automotive industry clusters [3] - The company is expanding its production capacity with new facilities planned in Changzhou and Jinhua to support lightweight and modular automotive components [3] - A new production base in Chengdu focuses on high-pressure aluminum die-casting products, catering to the Southwest automotive industry cluster [3] Customer Relationships and Sales Strategy - The company has improved its accounts receivable management by adjusting payment terms with major clients to 60 days, enhancing operational efficiency and profitability [4] - Sales to BYD have significantly increased, and supply to Leap Motor is expected to ramp up in the second half of the year [4] - The company is not a direct supplier to Xiaomi Automotive but supplies some products indirectly through Tier 1 customers [4]