资金流向方面，主力资金净流出93.43万元，特大单买入111.17万元，占比2.41%，卖出103.59万元，占 比2.25%；大单买入417.17万元，占比9.05%，卖出518.19万元，占比11.24%。 博实结今年以来股价涨23.28%，近5个交易日涨0.40%，近20日跌11.29%，近60日跌5.94%。 11月26日，博实结盘中下跌2.00%，截至13:14，报83.26元/股，成交4609.27万元，换手率1.37%，总市 值74.09亿元。 博实结所属申万行业为：计算机-计算机设备-其他计算机设备。所属概念板块包括：人工智能、无人驾 驶、物联网、智能穿戴、移动支付等。 截至11月20日，博实结股东户数8514.00，较上期减少4.23%；人均流通股4690股，较上期增加4.42%。 2025年1月-9月，博实结实现营业收入12.72亿元，同比增长21.66%；归母净利润1.80亿元，同比增长 33.95%。 分红方面，博实结A股上市后累计派现1.31亿元。 机构持仓方面，截止2025年9月30日，博实结十大流通股东中，华商信用增强债券A（001751）位居第 六大流通股东，持股60.75万股 ...

截至11月10日，博实结股东户数8890.00，较上期增加0.52%；人均流通股4492股，较上期减少0.52%。 2025年1月-9月，博实结实现营业收入12.72亿元，同比增长21.66%；归母净利润1.80亿元，同比增长 33.95%。 分红方面，博实结A股上市后累计派现1.31亿元。 机构持仓方面，截止2025年9月30日，博实结十大流通股东中，华商信用增强债券A（001751）位居第 六大流通股东，持股60.75万股，为新进股东。信澳新能源产业股票A（001410）位居第七大流通股东， 持股60.19万股，相比上期减少2.01万股。广发中小盘精选混合A（005598）、信澳核心科技混合A （007484）、信澳智远三年持有期混合A（014254）退出十大流通股东之列。 责任编辑：小浪快报 11月20日，博实结涨0.40%，成交额5747.60万元。两融数据显示，当日博实结获融资买入额367.19万 元，融资偿还569.08万元，融资净买入-201.90万元。截至11月20日，博实结融资融券余额合计1.03亿 元。 融资方面，博实结当日融资买入367.19万元。当前融资余额1.03亿元，占流通市值的2 ...

Core Insights - The stock price of Bosijie increased by 2.01% on November 20, reaching 84.60 CNY per share, with a market capitalization of 7.529 billion CNY [1] - The company has seen a year-to-date stock price increase of 25.26%, but has experienced a decline of 3.15% over the last five trading days [1] Company Overview - Bosijie Technology Co., Ltd. was established on June 4, 2009, and is located in Longhua District, Shenzhen, Guangdong Province [2] - The company specializes in the research, design, production, and sales of IoT smart hardware products, including intelligent vehicle terminals, smart travel components, and intelligent payment hardware [2] - The revenue composition is as follows: intelligent vehicle terminals (38.80%), smart travel components (28.42%), other smart hardware (23.20%), intelligent payment hardware (4.94%), and wireless communication modules (4.62%) [2] Financial Performance - For the period from January to September 2025, Bosijie achieved a revenue of 1.272 billion CNY, representing a year-on-year growth of 21.66% [2] - The net profit attributable to shareholders for the same period was 180 million CNY, reflecting a year-on-year increase of 33.95% [2] Shareholder Information - As of November 10, 2025, the number of shareholders increased by 0.52% to 8,890, while the average circulating shares per person decreased by 0.52% to 4,492 shares [2] - The company has distributed a total of 131 million CNY in dividends since its A-share listing [3] Institutional Holdings - As of September 30, 2025, Huashang Credit Enhanced Bond A is the sixth largest circulating shareholder with 607,500 shares, marking a new entry [3] - Other notable changes include a decrease in holdings by Xin'ao New Energy Industry Stock A, which held 601,900 shares, down by 20,100 shares from the previous period [3]

Core Insights - The company, Bosijie Technology Co., Ltd., reported a revenue of 1.272 billion yuan for the period from January to September 2025, reflecting a year-on-year growth of 21.66% [2] - The net profit attributable to the parent company for the same period was 180 million yuan, showing a year-on-year increase of 33.95% [2] - As of November 18, 2023, the financing balance of Bosijie was 104 million yuan, accounting for 2.78% of its market capitalization, indicating a relatively high level of financing activity [1] Financing and Trading Activity - On November 18, 2023, Bosijie experienced a financing buy-in of 5.6626 million yuan, with a net financing buy of 288,300 yuan after repayments [1] - The total margin trading balance for Bosijie reached 104 million yuan, which is above the 50th percentile of the past year [1] - There were no short-selling activities reported on November 18, with a short-selling balance of 0 yuan, indicating a lack of bearish sentiment [1] Shareholder and Institutional Holdings - As of November 10, 2023, the number of shareholders for Bosijie increased to 8,890, a rise of 0.52% from the previous period [2] - The average number of circulating shares per shareholder decreased by 0.52% to 4,492 shares [2] - Notable institutional holdings include Huashang Credit Enhanced Bond A, which became the sixth largest shareholder with 607,500 shares, while several other funds exited the top ten list of shareholders [3]

Group 1: Company Overview - The company specializes in the research, development, production, and sales of IoT intelligent products, focusing on communication, positioning, and AI technologies [1] - In 2024, the company achieved a revenue of CNY 1.402 billion, a year-on-year increase of 24.85%, and a net profit of CNY 176 million, an increase of 0.81% [1] - For the first three quarters of 2025, the company reported a revenue of CNY 1.272 billion, up 21.66%, and a net profit of CNY 180 million, an increase of 33.95% [2] Group 2: Product Innovation and Market Expansion - Continuous product innovation and expansion into new application scenarios are key drivers for the company's long-term growth [2] - The company has expanded its product offerings from a single commercial vehicle monitoring terminal to over a dozen scenarios, including smart transportation and mobile payments [2] - The company’s core advantages include a strong foundation in communication, positioning, storage, and AI technologies, which support its ability to adapt to various IoT application scenarios [3] Group 3: International Market Development - As of Q3 2025, the company has sold its intelligent vehicle terminal products to dozens of countries and regions, including Africa, Central Asia, and South America [4] - The company has entered the qualified supplier list of a foreign automotive brand and achieved small-scale supply [4] - Future plans include expanding the market share of intelligent vehicle terminals in both domestic and international markets [4]

Group 1: Company Overview - The company specializes in the research, production, and sales of IoT intelligent products, focusing on communication, positioning, and AI technologies [2] - It aims to become a global expert in IoT intelligent application solutions, adhering to the mission of "empowering wisdom for all things" [2] Group 2: Financial Performance - In 2024, the company achieved a revenue of CNY 1.402 billion, a year-on-year increase of 24.85%, and a net profit of CNY 176 million, an increase of 0.81% [3] - For Q3 2025, the revenue reached CNY 1.272 billion, up 21.66% year-on-year, with a net profit of CNY 180 million, reflecting a 33.95% increase [3] Group 3: Growth Drivers - The growth in revenue and net profit for the first three quarters of 2025 is attributed to: - The ongoing "going global" strategy, with steady growth in overseas sales of smart vehicle and sleep terminals [3] - The domestic upgrade of commercial vehicle monitoring terminals, particularly due to new policies in several provinces [3] - Increased supply share from key clients, boosting revenue in the electric bicycle sector [3] - Recovery in revenue from smart payment hardware due to continuous product innovation and market promotion [3] Group 4: Future Growth Strategies - The "going global" strategy will remain a key focus, with plans to expand in Africa, Southeast Asia, and South America, while targeting developed markets in Europe and North America [4] - Continuous product innovation and expansion of application scenarios are identified as core drivers for sustained revenue growth [4] Group 5: Cost Management - The company maintains a low expense ratio by focusing on product R&D and sales to B-end large enterprises, avoiding high management costs associated with extensive sales teams [5] - The implementation of a divisional management system allows for independent accounting and profit-centered evaluation, enhancing operational efficiency [5] Group 6: Capacity and Investment - The company is actively advancing fundraising projects to meet future capacity demands, ensuring sustained business growth [5]

Core Insights - The company, Shenzhen Bosijie Technology Co., Ltd., specializes in the research, design, production, and sales of IoT smart hardware products, including intelligent vehicle terminals and smart travel components [2] Financial Performance - For the period from January to September 2025, the company achieved a revenue of 1.272 billion yuan, representing a year-on-year growth of 21.66% [2] - The net profit attributable to the parent company for the same period was 180 million yuan, reflecting a year-on-year increase of 33.95% [2] Shareholder Information - As of October 20, 2025, the number of shareholders in the company was 7,744, a decrease of 0.64% from the previous period [2] - The average circulating shares per person increased by 0.65% to 5,157 shares [2] Dividend Distribution - The company has distributed a total of 131 million yuan in dividends since its A-share listing [3] Institutional Holdings - As of September 30, 2025, Huashang Credit Enhanced Bond A was the sixth largest circulating shareholder with 607,500 shares, marking a new entry [3] - Xin'ao New Energy Industry Stock A, ranked seventh, held 601,900 shares, a decrease of 20,100 shares from the previous period [3] - Several funds, including Guangfa Small and Medium Cap Selected Mixed A and Xin'ao Core Technology Mixed A, have exited the top ten circulating shareholders list [3] Financing and Margin Trading - On October 28, the company experienced a financing buy-in of 11.3979 million yuan, with a net financing outflow of 5.6947 million yuan [1] - The total margin trading balance as of October 28 was 94.2094 million yuan, accounting for 2.21% of the circulating market value, which is below the 40th percentile level over the past year [1] - There were no short sales or repayments on the same day, indicating a high level of short selling availability [1]

Company Overview - Shenzhen Boshi Jie Technology Co., Ltd. is located in Longhua District, Shenzhen, Guangdong Province, and was established on June 4, 2009. The company went public on August 1, 2024. Its main business involves the research, design, production, and sales of IoT intelligent hardware products, including smart vehicle terminals, smart travel components, smart payment hardware, and wireless communication modules [2]. Business Performance - For the period from January to September 2025, Boshi Jie achieved operating revenue of 1.272 billion yuan, representing a year-on-year growth of 21.66%. The net profit attributable to the parent company was 180 million yuan, with a year-on-year increase of 33.95% [2]. Shareholder Information - As of September 30, 2025, the number of shareholders in Boshi Jie was 7,744, a decrease of 0.64% from the previous period. The average circulating shares per person increased by 0.65% to 5,157 shares [2]. Stock Performance - On October 28, Boshi Jie’s stock price fell by 2.00%, trading at 95.89 yuan per share, with a total transaction volume of 136 million yuan and a turnover rate of 3.46%. The total market capitalization was 8.533 billion yuan [1]. - Year-to-date, Boshi Jie’s stock price has increased by 41.98%, with a 5-day increase of 11.25%, a 20-day increase of 0.65%, and a 60-day increase of 23.45% [1]. Capital Flow - In terms of capital flow, there was a net outflow of 13.432 million yuan from main funds, with large orders buying 16.9813 million yuan (12.52% of total) and selling 30.4133 million yuan (22.43% of total) [1]. Dividend Information - Since its A-share listing, Boshi Jie has distributed a total of 131 million yuan in dividends [3]. Institutional Holdings - As of September 30, 2025, among the top ten circulating shareholders, Huashang Credit Enhanced Bond A (001751) ranked as the sixth largest shareholder with 607,500 shares, marking a new entry. Xin'ao New Energy Industry Stock A (001410) was the seventh largest shareholder with 601,900 shares, a decrease of 20,100 shares from the previous period [3].

Core Viewpoint - The report from Zhejiang Merchants Securities highlights that Boshi achieved a net profit attributable to shareholders of 180 million yuan in the first three quarters of 2025, marking a year-on-year increase of 33.95% [1]. Financial Performance - In Q3 alone, the company reported a net profit of 73 million yuan, reflecting a year-on-year growth of 64.42% and a quarter-on-quarter increase of 7.72% [1]. - The overall performance is driven by the growth in overseas markets and AIoT product launches [1]. Business Strategy - The company has improved its business profitability through optimizing product structure, enhancing operational efficiency, and deepening cost control measures [1]. - As scale effects are released, the gross profit margin is gradually recovering [1]. Emerging Opportunities - The rise of the "sleep economy" has prompted the company to actively incubate new AIoT products related to smart sleep terminals, which are expected to generate nearly 200 million yuan in revenue in 2024, accounting for 14.2% of total revenue [1]. - The smart vehicle terminal, which is the company's foundational business, is accelerating its expansion into overseas markets [1]. Key Partnerships - The company has established deep ties with leading clients such as Qinjun, Hello Chuxing, and Meituan Bikes, and is also a significant supplier for the smart two-wheeled electric vehicle brand Ninebot [1]. Investment Rating - The report maintains a "Buy" rating for the company's stock [1].

Core Viewpoint - The company has demonstrated strong financial performance in Q3 2025, with significant improvements in profitability and revenue growth across various business segments [1][5]. Group 1: Financial Performance - In the first three quarters of 2025, the company achieved operating revenue of 1.272 billion, a year-on-year increase of 21.66%, and a net profit attributable to shareholders of 180 million, up 33.95% year-on-year [1]. - In Q3 alone, the company reported operating revenue of 467 million, representing a year-on-year growth of 24.31% and a quarter-on-quarter increase of 2.07%. The net profit for the same quarter was 73 million, showing a year-on-year increase of 64.42% and a quarter-on-quarter growth of 7.72% [1]. - The company improved its sales gross margin to 23.84% in the first three quarters, up 0.54 percentage points year-on-year, and the net profit margin reached 14.19%, an increase of 1.30 percentage points year-on-year [1]. Group 2: Business Development - The company is actively developing smart sleep terminals under the "sleep economy" trend, with expected revenue of nearly 200 million in 2024, accounting for 14.2% of total revenue [2]. - The smart sleep terminal business utilizes an ODM model and has established stable partnerships with clients since 2023, expanding product categories based on customer needs and entering the Chinese market [2]. - The company is accelerating the expansion of its smart vehicle terminal business into high-margin overseas markets, focusing on commercial vehicles in the EU, Americas, and Middle East regions [3]. - In the two-wheeled transportation sector, the company is benefiting from the acceleration of electric bicycle smart technology, partnering with leading clients to enhance its product offerings and increase revenue from smart components [4].