Company and Industry Summary Company: 苏试试验 (Sutest) Key Financial Performance - The company announced its 2025 annual performance forecast on January 20, 2026, projecting a net profit attributable to shareholders of 245-265 million yuan, representing a year-on-year growth of 6.8%-15.51% [1] - The net profit for Q4 2025 is expected to be between 88.16-108 million yuan, showing a year-on-year increase of 6.2%-30.3% and a quarter-on-quarter growth of 123%-173% [1][2] - The non-recurring net profit for Q4 2025 is projected to be between 83.51-104 million yuan, with a year-on-year growth of 9.3%-35.5% and a quarter-on-quarter increase of 137%-194% [1][2] Core Business Strategy - The company focuses on a strategy of "focusing on the main business, dual-wheel drive, and integration of manufacturing and services" [2] - The significant quarter-on-quarter growth in Q4 2025 is attributed to the elimination of adverse factors, recovery in downstream demand, and growth in new business areas such as commercial aerospace [2] Industry Trends and Opportunities - The company is actively advancing technological innovation in testing equipment, focusing on products such as thermal vacuum, low pressure, hydraulic, and comprehensive testing systems, particularly in the aerospace, new energy, and electronics sectors [2] - A project cooperation agreement was signed with the Hangzhou Yunqi Town Management Committee, with a planned investment of no less than 300 million yuan to build a high-end space environment simulation testing and inspection service platform [2] - The company has successfully supported key tests for commercial aerospace, showcasing its technical strength and service capabilities in the field [2] Expansion into New Markets - The company is enhancing its laboratory qualifications, with the Suzhou laboratory obtaining third-party laboratory accreditation from Seris, entering the Seris automotive supplier system [3] - The company is focusing on emerging industries, expanding its testing capabilities in commercial aerospace, aviation equipment, intelligent robotics, and new energy sectors [3] - Projected net profits for 2025-2027 are estimated at 257 million, 331 million, and 399 million yuan, with year-on-year growth rates of 12.08%, 28.85%, and 20.56% respectively, indicating a positive long-term outlook [3] Market Position - The company is recognized as a leading third-party inspection and testing entity in China, expected to benefit from high growth in military, semiconductor, new energy, commercial aerospace, and low-altitude sectors [3]