Core Points - On September 11, Yilian Technology's stock rose by 1.70%, with a trading volume of 153 million yuan [1] - The company experienced a net financing outflow of 373.94 million yuan on the same day, with a total financing and securities balance of 1.47 billion yuan [1] - As of June 30, the number of shareholders decreased by 20.84% to 13,200, while the average circulating shares per person increased by 86.48% to 1,461 shares [2] Financing and Securities - On September 11, Yilian Technology had a financing purchase of 15.25 million yuan, with a current financing balance of 1.47 billion yuan, accounting for 8.22% of the circulating market value [1] - The company had no shares repaid in securities lending on September 11, with 200 shares sold, amounting to 18,600 yuan at the closing price [1] - The securities lending balance stood at 214,100 yuan with a remaining quantity of 2,300 shares [1] Business Performance - For the first half of 2025, Yilian Technology reported a revenue of 2.066 billion yuan, representing a year-on-year growth of 22.12%, and a net profit attributable to shareholders of 137 million yuan, up 18.49% year-on-year [2] - The company's main business revenue composition includes: 58.83% from battery connection components, 28.44% from low-voltage signal transmission components, 11.48% from power transmission components, and 0.81% from other FPC components [1] Shareholder Structure - As of June 30, the second-largest circulating shareholder was Hong Kong Central Clearing Limited, holding 189,900 shares, an increase of 124,500 shares from the previous period [2] - New institutional shareholders include Southern CSI 1000 ETF, holding 168,800 shares, and Huaxia CSI 1000 ETF, holding 100,300 shares [2]

Group 1 - The core viewpoint of the news highlights the recent trading performance and financial metrics of Yilian Technology, including a 3.59% drop in stock price on September 2, with a trading volume of 268 million yuan [1] - As of September 2, Yilian Technology's financing balance reached 150 million yuan, accounting for 8.38% of its market capitalization, with a net financing purchase of 10.08 million yuan on that day [1] - The company reported a revenue of 2.066 billion yuan for the first half of 2025, representing a year-on-year growth of 22.12%, and a net profit of 137 million yuan, up 18.49% year-on-year [2] Group 2 - Yilian Technology's main business revenue composition includes 58.83% from battery connection components, 28.44% from low-voltage signal transmission components, and 11.48% from power transmission components [1] - As of June 30, 2025, the number of shareholders decreased by 20.84% to 13,200, while the average circulating shares per person increased by 86.48% to 1,461 shares [2] - The company has distributed a total of 78.3554 million yuan in dividends since its A-share listing [3]

Core Insights - Shenzhen Yilian Technology Co., Ltd. reported a revenue of 2.066 billion yuan for the first half of 2025, representing a year-on-year growth of 22.12% [1] - The company achieved a net profit attributable to shareholders of 137 million yuan, up 18.49% year-on-year, and a net profit of 124 million yuan after deducting non-recurring items, reflecting a 15.40% increase [1] - The basic earnings per share stood at 1.49 yuan, with net cash flow from operating activities reaching 338 million yuan, marking an impressive growth of 87.95% [1] Company Performance - Yilian Technology focuses on the research, design, production, sales, and service of electrical connection components, enhancing its market competitiveness through product innovation and global expansion [1] - The company's main product, battery cell connection components, generated a revenue of 1.216 billion yuan, showing a year-on-year increase of 20.26% [1] Strategic Developments - The company is breaking through technical barriers in electrical connection components and accelerating the self-manufacturing process of certain parts, thereby integrating the supply chain and enhancing cost advantages [2] - Recently, Yilian Technology's wholly-owned subsidiary, Ningde Yilian Electronics Co., Ltd., held an opening ceremony, which signifies an upgrade in production capacity, technology research and development, and green manufacturing [2] - The new production base is positioned as a strategic hub to enhance service capabilities for core customers and build a more efficient support service system, aiming for long-term mutual development [2]

Core Viewpoint - 壹连科技 reported strong financial performance in the first half of 2025, driven by growth in the electric connection components sector and expansion into new markets such as low-altitude economy and energy storage [1][2][4]. Financial Performance - The company achieved operating revenue of 2.066 billion yuan, a year-on-year increase of 22.12% [1] - Net profit attributable to shareholders was 137 million yuan, up 18.49% year-on-year [1] - The net profit excluding non-recurring gains and losses was 124 million yuan, reflecting a growth of 15.40% [1] - Basic earnings per share stood at 1.49 yuan [1] - Net cash flow from operating activities reached 338 million yuan, a significant increase of 87.95% [1] Business Focus and Market Expansion - 壹连科技 is focusing on core business areas, enhancing product R&D and technology innovation, and expanding global presence and production capacity [1] - The company is actively developing various downstream applications and key projects to broaden its product application fields [1] - The growth in the new energy vehicle penetration rate and the stable development of the energy storage industry are driving revenue and profit growth [1][2] Product Matrix and Industry Trends - The company specializes in electric connection components, with production bases established in multiple locations across China [2] - The global new energy vehicle market is experiencing rapid growth, with sales reaching 7.52 million units in the first five months of 2025, a year-on-year increase of 32.4% [2] - Revenue from the company's main product, electric core connection components, was 1.216 billion yuan, up 20.26% year-on-year [2] - The electric connection components sector is entering a golden development period due to the rapid growth of new energy vehicles and expanding energy storage scale [2] Technological Advancements - The company is integrating upstream material resources and focusing on the production of flexible printed circuits (FPC), which are crucial for electric vehicle battery management systems [3] - FPCs are expected to play a key role in the trend towards miniaturization and lightweight electronic devices, enhancing the company's market competitiveness and cost advantages [3] New Market Opportunities - 壹连科技 has entered the low-altitude economy sector, developing products for drones and other low-altitude vehicles [4] - The low-altitude economy market in China is projected to exceed 1.5 trillion yuan by 2025, driven by policy, capital, technology, and demand [4] - The company aims to leverage this emerging market to enhance its business prospects and economic growth [4] Capacity Expansion and Strategic Development - The company’s subsidiary, Ningde Yilian Electronics, recently held an opening ceremony, marking a significant upgrade in production capacity and technological capabilities [5] - The new production base will serve as a strategic hub to enhance service capabilities for core customers and strengthen market competitiveness [5]

Company Overview - Shenzhen Yilian Technology Co., Ltd. was founded in 1991 and specializes in R&D, design, production, sales, and service of electrical connection components and solutions [2] - The company has established production bases in multiple locations, including Shenzhen, Zhaoqing, Ningde, Liyang, Yibin, Leqing, Changchun, and Slovakia [2] - Main products include battery connection components, power transmission components, low-voltage signal transmission components, and flexible circuit boards, focusing on sectors like new energy vehicles, energy storage systems, industrial equipment, medical devices, consumer electronics, and low-altitude economy [2] Future Profitability Directions - The company aims to achieve effective production at new bases in Liyang, Ningde, and Slovakia, and scale up production of existing orders [3] - Plans to enhance R&D capabilities and improve automation, information technology, and intelligence levels [3] - Focus on lightweight, precision, and integrated development of electrical connection components while expanding into new sectors like new energy vehicles and energy storage [3] Customer Development and Management - The company prioritizes market and customer needs, expanding product types and application fields [4] - Established long-term cooperative relationships with notable clients across various sectors, including CATL, XPeng Motors, Volvo, Volkswagen, Nissan, and more [4] - Diverse customer distribution enhances market space and strengthens profitability and risk resistance [4] Core Competitiveness - Recognized as a national high-tech enterprise, emphasizing technological innovation and market orientation [6] - Focus on improving manufacturing technology and automation to meet customer demands with high-quality products and services [6] - Advantages include a systematic R&D approach, diverse customer resources, sustainable development systems, and efficient production and quality control [6] Industry Development Outlook - The company’s applications are primarily in new energy vehicles, energy storage, and low-altitude economy sectors [7] - Government policies and technological advancements are driving rapid growth in the new energy vehicle market, with increasing penetration rates expected [7] - The company is positioned to leverage its long-term experience and technological advantages in the new energy sector [7]

Core Viewpoint - The company reported strong financial performance for 2024, with significant revenue growth and a focus on enhancing research and development capabilities to maintain its competitive edge in the electric connection components industry [2][4][10]. Financial Performance - In 2024, the company achieved operating revenue of 3.905 billion yuan, a year-on-year increase of 27.01% - The net profit attributable to shareholders was 233 million yuan, with a non-recurring net profit of 218 million yuan - The net cash flow from operating activities was 444 million yuan, reflecting a year-on-year growth of 37.06% [2][4][6]. Research and Development - The company has significantly increased its investment in new technologies and processes, with R&D expenditure reaching 144 million yuan, up 33.20% year-on-year - The R&D team has expanded by 123 personnel, a 23.84% increase compared to the previous year, focusing on advanced technologies such as aluminum alloy wire applications and energy storage components [3][4][9]. Future Outlook - The company plans to enhance its production capabilities in new facilities located in Liyang, Ningde, and Slovakia, aiming for effective production and scaling of existing orders - Future growth will focus on sectors such as new energy vehicles, energy storage, and emerging fields like low-altitude economy and intelligent healthcare [5][11]. Quarterly Performance - In Q1 2025, the company reported operating revenue of 958 million yuan, a year-on-year increase of 22.57% - The net profit attributable to shareholders was 60.15 million yuan, a slight decrease of 0.16% year-on-year, while the net cash flow from operating activities surged by 566.14% to 206 million yuan [6][13]. Shareholder Engagement - The company emphasizes sharing its development results with investors, proposing a cash dividend of 12 yuan per 10 shares and a capital reserve conversion of 4 shares for every 10 shares held, totaling 78.36 million yuan in cash dividends [7]. Industry Position - The overall industry outlook is positive, with the company highlighting its advantages in integrated electric connection solutions, diverse customer resources, and a strong focus on sustainable development [8][10].

Financial Performance - In 2024, the company achieved a revenue of 3.905 billion RMB, representing a year-on-year growth of 27.01% [1][3] - The net profit attributable to shareholders was 233 million RMB, with a non-recurring net profit of 218 million RMB [1][3] - The net cash flow from operating activities was 444 million RMB, an increase of 37.06% year-on-year [1][3] - In Q1 2025, the company reported a revenue of 958 million RMB, a year-on-year increase of 22.57%, while the net profit slightly decreased by 0.16% [6] Research and Development - The company invested 144 million RMB in R&D in 2024, a 33.20% increase compared to the previous year [2] - The R&D team expanded by 123 personnel, marking a 23.84% increase year-on-year [2] - The company focuses on advanced technologies such as CCS processes, including film thermal compression and direct welding [2][8] Future Outlook - The company aims to enhance its production capabilities in new bases located in Liyang, Ningde, and Slovakia [5] - Plans include scaling up R&D centers and improving automation and information technology levels [5] - The company is targeting growth in sectors like new energy vehicles, energy storage, and emerging fields such as low-altitude economy and intelligent technology [5][9] Shareholder Returns - The company plans to distribute a cash dividend of 12 RMB per 10 shares, totaling approximately 78.36 million RMB [7][8] - Additionally, a capital reserve conversion will result in a bonus share distribution of 4 shares for every 10 shares held, totaling 26.12 million shares [8] Industry Position - The overall industry performance is improving, with the company highlighting its advantages in integrated solutions, diverse customer resources, and sustainable development [8] - The company is well-positioned to leverage its expertise in the new energy sector, particularly in battery technology and smart manufacturing [9]

Group 1: Financial Performance - In Q1 2025, the company achieved operating revenue of 958 million yuan, a year-on-year increase of 22.57% [1] - The net profit attributable to shareholders was 60.15 million yuan, with a non-recurring net profit of 55.38 million yuan [1] - The net cash flow from operating activities reached 206 million yuan, reflecting a significant year-on-year growth of 566.14% [1] Group 2: Business Focus and Strategy - The company focuses on core business areas, enhancing product research and development, and expanding global operations and production capacity [1] - The company has established production bases in multiple locations, including Shenzhen, Ningde, and Yibin, and offers a range of products in the electric connection component sector [2] - The company aims to leverage market opportunities in the context of global carbon neutrality, with a focus on the rapidly growing electric vehicle and energy storage markets [2] Group 3: Product Development and Innovation - The flexible printed circuit board (FPC) is a key material product for the company, playing a crucial role in electric vehicle battery management systems and interior applications [3] - The company is actively exploring new fields such as low-altitude economy, developing components for drones and other emerging technologies [4] - The company emphasizes technological innovation and process improvement to expand its product offerings and maintain a competitive edge [4] Group 4: Future Outlook - The company plans to strengthen its leading position in the electric vehicle and energy storage sectors while exploring new growth areas such as low-altitude economy and intelligent healthcare [4] - The company aims to enhance business stability and depth with core customers, driving high-quality development through strategic resource integration [4] - The company is committed to increasing R&D investment and upgrading production lines to maintain its global leadership in the electric connection component industry [4]