Core Viewpoint - The company expects a significant increase in net profit for Q3 2025, driven by contributions from major clients such as Seres and Li Auto, with a projected net profit of 244-285 million yuan, representing a year-on-year growth of 80%-110% [1] Short-term Outlook - The company's modular body business is closely tied to leading clients like Seres, Li Auto, Geely, BYD, and Changan, which is expected to support sustained high growth in performance [2] - In the first half of 2023, revenue contributions from Li Auto and Geely were 31% and 20% respectively, indicating strong client relationships and growth potential [2] Long-term Strategy - The company aims to become a leading supplier of white body assemblies by leveraging comprehensive bodywork processes, integrated capabilities, and production advantages [3] - The company has a full range of bodywork processes, including stamping, hot forming, welding, laser welding, injection molding, laser cutting, integrated die-casting, and assembly, which positions it to meet the development needs of OEMs [3] - The integrated capability spans from mold design and manufacturing to body parts and modular products, creating strong responsiveness and cost advantages [3] - The company has been enhancing its production capacity across various regions, with new factories in Chongqing and Changzhou set to boost localized support and service for clients [3] Profit Forecast - The company has revised its net profit forecasts for 2025-2027 to 930 million, 1.2 billion, and 1.45 billion yuan, reflecting year-on-year growth rates of 51%, 30%, and 21% respectively, with corresponding PE ratios of 14.5X, 11.2X, and 9.3X [3]