Financial Performance - In the first three quarters of 2025, the company achieved a revenue of CNY 220.915 billion, a year-on-year increase of 24.69% [12] - The net profit attributable to shareholders was CNY 11.518 billion, up 26.92% year-on-year [12] - The gross profit margin for the first three quarters was 12.15%, an increase of 0.43 percentage points compared to the same period last year [13] - The net profit margin improved to 5.76%, up 0.24 percentage points year-on-year [13] - Operating cash flow for the first three quarters was CNY 3.478 billion, a decrease of 47.89% compared to the previous year [14] Business Segments Consumer Electronics - The company reported a 24.69% year-on-year revenue growth in the consumer electronics segment [2] - Innovations in materials, such as using light-cured polymers, reduced costs by over 30% for smartwatches [8] - The integration of AI in consumer electronics is expected to drive significant growth in the coming years [18] Automotive - The automotive segment has seen continuous high-quality growth, with market share expanding in key products like wiring harnesses and connectors [4] - The acquisition of Leoni has been successfully integrated, enhancing operational efficiency and management capabilities [9] - The company aims to become the largest automotive wiring harness and connector enterprise globally [26] Data Center - The data center business has experienced explosive growth in demand for computing power, with significant advancements in AI-related products [3] - The company showcased its 448G technology at OCP 2025, exceeding industry standards and attracting major clients [10] - The data center segment is expected to be a strong growth engine for the company moving forward [3] Strategic Initiatives - The company is focusing on vertical integration and resource sharing to enhance operational efficiency [2] - Continuous investment in R&D for AI terminals, automotive intelligence, and high-speed interconnects is a priority [5] - The company maintains a globalized production strategy to adapt to market changes and geopolitical challenges [5] Challenges and Outlook - The company faces challenges related to cash flow and inventory management, with inventory increasing by 64.01% year-on-year [16] - The integration of acquired businesses like Leoni is progressing faster than expected, with operational improvements recognized by clients [24] - Future growth is anticipated in AI terminal products and data center capabilities, with a focus on maintaining competitive advantages through innovation [19]