Company Overview - Shanghai Laimu Electronic Co., Ltd. was established on March 12, 2003, and listed on November 17, 2016. The company is located in Songjiang District, Shanghai, and primarily engages in the research, production, and sales of precision electronic components, focusing on connectors and shielding covers [1]. Business Composition - The main business revenue composition is as follows: - Automotive precision connectors and components account for 68.82% - Mobile phone precision shielding covers and structural parts account for 16.63% - Other (supplementary) components account for 8.37% - Automotive precision shielding covers and structural parts account for 2.84% - Molds and fixtures account for 1.81% - Mobile phone precision connectors account for 0.99% - Energy storage precision connectors and components account for 0.53% - Other components account for 0.01% [1]. Stock Performance - On September 16, Laimu shares fell by 5.28%, trading at 11.48 CNY per share, with a transaction volume of 75.38 million CNY and a turnover rate of 1.51%. The total market capitalization is 4.9 billion CNY [1]. Shareholder Information - Among the top ten circulating shareholders of Laimu, a fund under Dacheng Fund ranks as a significant holder. The Dacheng CSI 360 Internet + Index A (002236) entered the top ten circulating shareholders in the second quarter, holding 1.8487 million shares, which represents 0.43% of the circulating shares. The estimated floating loss today is approximately 1.1832 million CNY [2]. Fund Performance - The Dacheng CSI 360 Internet + Index A (002236) was established on February 3, 2016, with a latest scale of 698 million CNY. Year-to-date returns are 34.58%, ranking 1179 out of 4222 in its category. Over the past year, returns are 93.02%, ranking 624 out of 3804. Since inception, the fund has achieved a return of 217.4% [2]. Fund Management - The fund manager of Dacheng CSI 360 Internet + Index A is Xia Gao, who has been in the position for 10 years and 288 days. The total asset scale of the fund is 2.26 billion CNY. The best fund return during the tenure is 216.29%, while the worst return is -71.74% [3].

Group 1 - The company, Beilong Precision (301567), provides structural components such as lens tubes, isolation rings, pressure rings, lens seats, bases, carriers, shielding covers, and VCM motors for leading enterprises in the smartphone sector, including Sunny Optical, Amphenol, Samsung Electro-Mechanics, and TDK Group [1] - The products are widely used in smartphones operating on both Android and iOS systems [1]

Investment Rating - The investment rating for the company is "Accumulate" (maintained) [5] Core Views - The company is focusing on expanding its customer base in the field of air suspension and enhancing its precision stamping technology to promote the localization of reducer flexible wheels [5] - In Q1 2025, the company achieved revenue of 80 million yuan and a net profit attributable to shareholders of 15.04 million yuan [6] - The company has established itself as a supplier for well-known automotive parts manufacturers, including Tyco Electronics and Bosch [6] - The company signed a strategic cooperation agreement with Konghui Technology to broaden its product line and is expected to achieve mass production of the third-generation welding ring line in 2025 [6][9] - The company plans to acquire 51% of Tongyihe Precision Technology to enhance its development and manufacturing capabilities in precision stamping [6][9] - The establishment of a joint venture in Slovenia aims to enhance overseas layout and local supply capabilities [6][9] Financial Summary - The company forecasts revenue growth from 276 million yuan in 2023 to 609 million yuan in 2027, with a compound annual growth rate (CAGR) of approximately 22.91% [8] - The net profit attributable to shareholders is projected to increase from 52 million yuan in 2023 to 100 million yuan in 2027, reflecting a CAGR of 25.37% [8] - The earnings per share (EPS) is expected to rise from 0.44 yuan in 2023 to 0.86 yuan in 2027 [8] - The company maintains a healthy return on equity (ROE), projected to reach 23.54% by 2027 [8]