Core Insights - Longsheng Technology (隆盛科技) has shown steady growth in its operating performance, with significant increases in revenue and net profit for the first three quarters of 2025 [1][2] Financial Performance - For the first three quarters of 2025, Longsheng Technology achieved revenue of 1.81 billion yuan, a year-on-year increase of 10.13%, and a net profit attributable to shareholders of 210 million yuan, reflecting a growth of 36.89% [2] - In Q3 2025, the company reported a net profit of 106 million yuan, marking a remarkable year-on-year increase of 109.83%, setting a new record for quarterly profit [2] - The net cash flow from operating activities for the first three quarters of 2025 was 148 million yuan, up 15.46% year-on-year [3] Asset Growth - Longsheng Technology's total assets have grown significantly, increasing approximately 7.66 times from 462 million yuan at the end of 2017 to 4.21 billion yuan by the end of September 2025 [1][5] - The company's revenue has also seen substantial growth, rising from 150 million yuan in 2017 to 2.397 billion yuan in 2024, representing an increase of about 15 times [5] Business Expansion - The company has developed a business matrix centered on EGR systems, electric vehicle drive motor cores, and precision automotive components, while also exploring emerging fields such as aerospace precision manufacturing and humanoid robotics [1][8] - Longsheng Technology has made strategic acquisitions, including the purchase of Weiyan Precision in 2018, which has helped extend its presence in both traditional and new energy vehicle component markets [6][7] Research and Development - Longsheng Technology has consistently increased its R&D expenditures, which rose from 29.96 million yuan in 2020 to 92.86 million yuan in 2024, with a 6.45% increase to 68.34 million yuan in the first three quarters of 2025 [8] - The company holds approximately 400 valid patents and 13 software copyrights as of June 2025, reflecting its commitment to innovation [9]

Core Viewpoint - Longsheng Technology (隆盛科技) is actively expanding its business in the automotive parts industry, with significant progress in various projects and a focus on new product development, particularly in the fields of aerospace precision manufacturing and humanoid robotics [1][7]. Group 1: Business Development - Longsheng Technology is developing a third-generation dexterous hand and has successfully progressed in the development of a semi-assembly project for electric drive motors for new energy commercial vehicles, with supply expected to Bosch and Seres in the second half of the year [1][8]. - The company has established a strong strategic partnership with Tesla, which is identified as a core strategic customer [1][8]. - Longsheng Technology has seen its stock price double this year, indicating strong market performance [2]. Group 2: Financial Performance - The company has experienced steady growth in operating performance, with revenue and net profit both increasing in 2023 and 2024 [1][5]. - Longsheng Technology's total assets grew from 4.62 billion yuan in 2017 to an expected 40 billion yuan by the end of 2024, representing a growth of approximately 7.66 times [3][4]. - Revenue has increased significantly, from 150 million yuan in 2017 to an expected 2.397 billion yuan in 2024, marking a growth of about 15 times [4][5]. Group 3: Research and Development - The company has made substantial investments in research and development, with expenditures rising from approximately 38.9 million yuan in 2021 to about 92.9 million yuan in 2024 [9]. - Longsheng Technology has successfully broken the foreign monopoly in the heavy truck market for EGR systems and is now achieving mass production with major domestic heavy truck manufacturers [9]. Group 4: Strategic Expansion - Longsheng Technology has expanded its business from a single focus on diesel commercial vehicle EGR systems to three core business segments: EGR systems, new energy vehicle drive motor cores, and precision automotive components [6][8]. - The company is also actively pursuing opportunities in emerging fields such as aerospace precision manufacturing and humanoid robotics, with plans to launch the "Lansen" robot in June 2024 [7][8].

Core Viewpoint - Longsheng Technology is focusing on the aerospace precision manufacturing sector as one of its main business areas for future development, with plans to supply components for electric vehicles by the second half of 2025 [1] Group 1: Business Development - The company has established a certain foundation for industry expansion through its subsidiary, Weiyan Zhongjia [1] - Longsheng Technology is developing third-generation dexterous hands and has officially launched the "Lansen" robot [1] Group 2: Product Supply Timeline - The Bosch sub-assembly project is expected to start supplying in the second half of 2025 [1] - The electric motor sub-assembly project with Seres is also anticipated to begin supply in the second half of 2025 [1]