Core Viewpoint - Xinjie Electric is a leading domestic player in the small PLC market, providing intelligent control system solutions for the OEM automation industry, with strong financial performance and growth potential in various segments [1][2][5][6]. Financial Performance - For Q3 2025, Xinjie Electric reported revenue of 1.382 billion yuan, ranking 5th among 20 companies in the industry, with the top competitor, Estun, at 3.804 billion yuan [2]. - The net profit for the same period was 180 million yuan, placing the company 2nd in the industry, behind Bosch [2]. Profitability and Debt Ratios - As of Q3 2025, Xinjie Electric's debt-to-asset ratio was 27.27%, lower than the industry average of 38.93% and down from 29.00% in the previous year [3]. - The gross profit margin for Q3 2025 was 37.22%, slightly down from 38.60% year-on-year but still above the industry average of 25.17% [3]. Shareholder Information - As of September 30, 2025, the number of A-share shareholders increased by 1.33% to 12,600, while the average number of shares held per shareholder decreased by 1.31% to 11,100 shares [5]. - Notable changes among the top ten shareholders include a decrease in holdings by Yongying Advanced Manufacturing and the entry of the E Fund National Robot Industry ETF [5]. Future Outlook - Huatai Securities projects a downward adjustment in net profit for 2025-2027 to 261 million, 294 million, and 327 million yuan, with corresponding EPS of 1.66, 1.87, and 2.08 yuan, maintaining a target price of 63.58 yuan and a "buy" rating [5]. - Guojin Securities anticipates net profits of 270 million, 330 million, and 390 million yuan for the same period, with year-on-year growth rates of 17%, 21%, and 20%, respectively, maintaining a "buy" rating [6]. Business Highlights - Xinjie Electric holds a solid position as the leading domestic brand in the small PLC market, with a market share of approximately 7.6% in H1 2025 [5]. - The company has seen an increase in market share for its AC servo products, reaching about 3.9% in H1 2025, up by 0.2 percentage points from 2024 [5]. - Xinjie Electric is actively developing its humanoid robot business, with some components already generating sales orders, focusing on AI and automation solutions for welding and sorting applications [5][6].