Core Viewpoint - Delijia Transmission Technology (Jiangsu) Co., Ltd. has successfully listed on the Shanghai Stock Exchange, with a closing price of 70.52 yuan, reflecting a significant increase of 51.07% on its first trading day [1]. Company Overview - Delijia primarily engages in the research, production, and sales of high-speed heavy-duty precision gear transmission products, with a focus on wind power generation applications, particularly wind turbine main gearboxes [2]. - The company has a major shareholder, Nanjing Chenrui Management Consulting Co., Ltd., which holds 30.53% of the shares, while the actual controllers, Liu Jianguo and Kong Jinfeng, collectively control 41.98% of the company [2]. Financial Performance - In the first half of 2025, Delijia reported operating revenue of 248,485.55 million yuan and a net profit attributable to shareholders of 39,371.50 million yuan [6]. - The company’s financial performance from 2022 to the first half of 2025 shows fluctuations in revenue and net profit, with a notable increase in revenue in 2025 compared to previous years [6][10]. - For the first nine months of 2025, the company achieved operating revenue of 405,948.14 million yuan, a year-on-year increase of 66.37%, and a net profit of 62,985.21 million yuan, up 64.96% [10]. Fundraising and Use of Proceeds - Delijia raised a total of 186,720.47 million yuan from its public offering, with a net amount of 177,425.74 million yuan after deducting issuance costs [4]. - The funds will be allocated to projects including the production of large onshore and offshore wind power gearboxes [4]. Shareholder Returns - In 2022, the company distributed a total cash dividend of 310 million yuan to its shareholders [11].

Core Insights - The company reported a decrease in customer contract revenue for the first half of 2025, amounting to RMB 9.979 billion, a year-on-year decline of 1.8% [1] - Gross profit increased significantly by 36.7% to RMB 1.852 billion [1] - The loss attributable to shareholders narrowed by 74.3% to RMB 136 million, with basic and diluted loss per share at RMB 0.083 [1] Revenue and Profit Analysis - Customer contract revenue for the first half of 2025 was RMB 9.979 billion, reflecting a slight decrease of 1.8% compared to the previous year [1] - Gross profit reached RMB 1.852 billion, showing a substantial increase of 36.7% year-on-year [1] Loss Reduction Factors - The reduction in loss was primarily due to the absence of impairment provisions for trade receivables during the reporting period, as opposed to significant provisions made in the same period last year [1] - Increased revenue and profit from the wind power and industrial gear transmission equipment segments contributed positively to the financial performance [1]

Core Viewpoint - China High-Speed Transmission (00658.HK) expects a significant reduction in losses for the six months ending June 30, 2025, with an anticipated loss of approximately RMB 136 million compared to a loss of RMB 528.7 million in the same period last year [1] Financial Performance - The expected loss reduction is primarily attributed to the suspension of trade operations during the period, which did not require impairment provisions for trade receivables, unlike the previous year when significant impairment provisions were made [1] - Revenue and profit from the wind power and industrial gear transmission equipment business have increased compared to the same period last year [1]

Core Viewpoint - China High-Speed Transmission (00658) reported a loss attributable to shareholders of approximately RMB 528.7 million for the same period last year, with an expected loss of about RMB 136 million for the first half of 2025, indicating a significant reduction in anticipated losses [1] Financial Performance - The expected reduction in losses is primarily due to the suspension of trading activities during the period, with no impairment provisions made for trade receivables, unlike the significant impairment provisions made in the same period last year [1] - Revenue and profit from the wind power and industrial gear transmission equipment business have increased compared to the same period last year [1]

Core Viewpoint - China High Speed Transmission (00658) reported a loss attributable to shareholders of approximately RMB 528.7 million for the same period last year, but expects a reduced loss of about RMB 136 million for the first half of 2025 [1] Summary by Relevant Categories - **Financial Performance** - The company anticipates a significant reduction in losses, projecting a loss of RMB 136 million for the first half of 2025 compared to a loss of RMB 528.7 million in the same period last year [1] - **Business Operations** - The expected decrease in losses is primarily due to the suspension of trade operations during the current period, which did not require impairment provisions for trade receivables, unlike the previous year when significant impairment provisions were made [1] - Revenue and profit from the wind power and industrial gear transmission equipment segments have increased compared to the same period last year, contributing positively to the company's financial outlook [1]

Core Viewpoint - China High Speed Transmission (00658.HK) reported a loss attributable to shareholders of approximately RMB 528.7 million for the same period last year, with an expected loss of about RMB 136 million for the first half of 2025, indicating a significant reduction in anticipated losses [1] Financial Performance - The expected reduction in losses is primarily due to the absence of impairment provisions for trade receivables during the period, as trade operations were suspended, contrasting with the significant impairment provisions made for trade receivables in the same period last year [1] - Revenue and profit from the wind power and industrial gear transmission equipment business have increased compared to the same period last year, contributing positively to the financial outlook [1]