Investment Rating - The report assigns a "Buy" rating to the company, indicating a potential upside of 15% to 35% [5][10]. Core Insights - The company achieved a revenue of 1.121 billion RMB in the first three quarters of 2025, representing a year-over-year increase of 7.52%. The net profit attributable to shareholders was 236 million RMB, with a year-over-year growth of 5.06% [6][7]. - The opening of a new factory in Thailand is expected to accelerate the company's international expansion, with products including key components for turbochargers and new energy vehicles [7]. - The company's gross margin slightly decreased to 34.59% in the first three quarters of 2025, down by 0.33 percentage points year-over-year, primarily due to the solidification of related equipment at subsidiaries [7]. Summary by Sections Company Overview - The company operates in the automotive industry, with a current A-share price of 25.92 RMB as of October 21, 2025. The market capitalization is approximately 12.203 billion RMB [2]. - Major shareholders include Wuxi Best Investment Co., Ltd., holding 49.67% of shares [2]. Financial Performance - For Q3 2025, the company reported a revenue of 404 million RMB, a year-over-year increase of 17.20%, indicating a significant acceleration compared to Q2 [6][7]. - The net profit for Q3 was 88 million RMB, with a year-over-year growth of 8.20% [6]. Future Projections - The company is projected to achieve net profits of 310 million RMB, 360 million RMB, and 470 million RMB for 2025, 2026, and 2027, respectively, with year-over-year growth rates of 8%, 17%, and 29% [7][9]. - The estimated earnings per share (EPS) for the same years are 0.6 RMB, 0.7 RMB, and 0.9 RMB, with corresponding price-to-earnings (P/E) ratios of 42x, 36x, and 28x [7][9].

Core Viewpoint - The company has maintained a good cooperative relationship with Weidi Technology, primarily providing tooling fixtures and testing platforms [1] Group 1 - The company is actively engaged in providing products such as tooling fixtures and testing platforms to Weidi Technology [1]

Group 1 - The company maintains a good cooperative relationship with its partner, Veitch Technology, primarily providing tooling fixtures and testing platforms [2]

Core Viewpoint - Mingke Precision Technology is focusing on the development and industrialization of flexible production lines and automation of tooling and fixtures in the automotive assembly workshop, leveraging its existing precision manufacturing capabilities in automotive parts [1] Group 1 - The company aims to enhance its research and development efforts in automation and flexible production lines for automotive assembly [1] - Mingke Precision Technology plans to create synergies with its current automotive parts manufacturing business [1] - The company is committed to strengthening communication and collaboration with regional supply chain enterprises in Shanghai and surrounding areas, which have a well-established industrial ecosystem and diverse application scenarios [1]

王峰在进行焊接作业。 绝活看点 扎根钢结构行业一线20多年，王峰获得60多项国家专利，参与研发的技术装备曾获湖北省科技进步二等 奖。近年来，他开始钻研焊接机器人操作、维护工作，擅长研发各类工具，保障生产效率与安全。2025 年，获评全国劳动模范。 湖北团风经济开发区，湖北鸿路钢结构有限公司生产车间内，数百台焊接机器人手臂挥舞，焊花跃动， 各种规格的钢结构件顺利完成焊接。53岁的操作工王峰站在一台檩托板焊接机器人前，只见他手持遥控 器，根据檩托板的尺寸，调节机械臂的运行轨道、电流、电压等参数。随后，他将檩托板往夹具上一 靠，大力钳一夹，启动按钮一按，机器人便开始自动作业。 这个工装夹具看起来结构很简单，操作机器人时却能派上大用场。"钢结构建筑生产中，檩托板构件用 量大，但传统焊接方式依靠工人手动扶正立板，不仅劳动强度大，还存在安全隐患。"王峰说，他和同 事利用车间生产的边角板料，加工出结构设计简单的工装夹具，能快速夹持和装卸工件，并适用于多种 不同厚度的檩托板焊接操作，操作人员还可以远离焊接设备，更好地保障生产安全。 扎根钢结构行业一线20多年，王峰在智能焊接、环保工艺等领域获得60多项国家专利。2020年，他 ...