Investment Rating - The report maintains a strong buy recommendation for the company, indicating an expected stock price increase exceeding 20% compared to the benchmark index [5]. Core Insights - The company is focusing on strategic directions to drive business growth through product structure optimization, accelerated new product development, and enhanced customer satisfaction systems [1]. - Despite short-term pressure on Q3 2025 performance, the company is expected to see a rebound in Q4 2025 due to improved shipment volumes and capacity utilization [3]. - The robotics business is progressing well, with successful partnerships and product innovations, particularly in harmonic reducers [3]. Financial Performance Summary - For the first three quarters of 2025, the company achieved revenue of 1.81 billion, a year-on-year increase of 10.13%, and a net profit attributable to shareholders of 210 million, up 36.89% [2]. - In Q3 2025, revenue was 586 million, with a year-on-year growth of 0.48%, while net profit increased by 109.83% to 106 million [2]. - The company forecasts net profits of 303 million, 402 million, and 576 million for 2025, 2026, and 2027, respectively, with corresponding PE ratios of 41.6, 31.3, and 21.9 [3][9]. Revenue and Profit Growth Projections - The company expects total revenue to grow from 1.827 billion in 2023 to 6.311 billion by 2027, with a compound annual growth rate (CAGR) of 35% [4][12]. - The projected net profit growth rates are 94%, 53%, 35%, 33%, and 43% for the years 2023 to 2027, respectively [9][12]. Market Position and Strategy - The company is leveraging its precision manufacturing capabilities to expand into aerospace, low-altitude economy sectors, and humanoid robotics, while solidifying its position in the automotive sector [1][3]. - A strategic partnership with Nidec has been established to enhance production capacity for new energy equipment and humanoid robot harmonic reducers [3].