证券日报网讯 12月30日，立讯精密在互动平台回答投资者提问时表示，2025年上半年，公司营业收入 按行业分类，通讯互联产品及精密组件相关营业收入同比增长48.65%。公司致力于在通信与数据中心 相关产品上实现更好的经营业绩表现，具体财务数据敬请留意后续定期报告。 （文章来源：证券日报） ...

每经AI快讯，"A股绿色报告"项目监控到的数据显示，立讯精密（SZ002475）间接控股子公司苏州相城立讯精工有限公司新能源汽 车项目建设项目环评审批获原则同意。该项目总投资额达52亿元。该审批信息于2025年12月9日被相关监管机构披露。 (记者 刘志远 董兴生) 上期（总第225期）A股绿色周报显示，共有9家上市公司在近期暴露了环境风险。 免责声明：本文内容与数据仅供参考，不构成投资建议，使用前核实。据此操作，风险自担。 2025年半年报显示，立讯精密的主营业务为消费性电子、通讯互联产品及精密组件、汽车互联产品及精密组件、电脑互联产品及精 密组件、其他连接器和其他收入，占营收比例分别为：78.55%、8.91%、6.95%、3.93%、1.65%。 "A股绿色报告"项目由每日经济新闻联合环保领域知名NGO公众环境研究中心（IPE）共同推出，旨在让上市公司环境信息更加阳光 透明。本项目基于31个省（区、市）、337个地级市政府发布的权威环境监管数据，筛选监控上市公司及其旗下公司（包括分公司、 参股公司和控股公司）的环境表现，加以专业数据分析及深入解读，每日智能写作及时发布上市公司AI绿报，每周推出A股绿色周 ...

Group 1 - The core point of the article is that Luxshare Precision (SZ 002475) announced a stock option incentive plan during its board meeting held on November 23, 2025, and provided details on its revenue composition for the first half of 2025 [1] Group 2 - Luxshare Precision's market capitalization is reported to be 384.9 billion yuan [2] - The revenue composition for Luxshare Precision in the first half of 2025 is as follows: Consumer electronics accounted for 78.55%, communication and precision components for 8.91%, automotive interconnect products and precision components for 6.95%, computer interconnect products and precision components for 3.93%, and other connectors and revenues for 1.65% [1]

Company Summary - Luxshare Precision (SZ 002475) announced that as of the date of the announcement, the total number of pledged shares is approximately 1.051 billion shares, accounting for 38.49% of its total holdings [1] - As of the report date, Luxshare Precision has a market capitalization of 440.9 billion yuan [1] Revenue Composition - For the first half of 2025, Luxshare Precision's revenue composition is as follows: - Consumer electronics account for 78.55% - Communication interconnection products and precision components account for 8.91% - Automotive interconnection products and precision components account for 6.95% - Computer interconnection products and precision components account for 3.93% - Other connectors and other income account for 1.65% [1] Industry Insight - A significant increase in overseas orders by 246% has been reported, covering over 50 countries and regions, indicating a booming industry [1] - Entrepreneurs have warned of potential issues with some companies selling at a loss, raising concerns about the risk of vicious competition expanding overseas [1]

Group 1 - The core point of the article is that Luxshare Precision (SZ 002475) held its 18th meeting of the 6th Board of Directors on October 30, 2025, to review internal governance proposals [1] - For the first half of 2025, Luxshare Precision's revenue composition was as follows: Consumer electronics accounted for 78.55%, communication and precision components for 8.91%, automotive interconnect products and precision components for 6.95%, computer interconnect products and precision components for 3.93%, and other connectors and income for 1.65% [1] - As of the report date, Luxshare Precision's market capitalization was 473.6 billion yuan [1]

Core Viewpoint - The company has demonstrated robust growth in its financial performance for the first half of 2025, with significant increases in revenue and net profit, driven by strategic planning and execution across multiple business segments [2][7][8]. Financial Performance - The company achieved a revenue of 1,245.03 billion, representing a year-on-year growth of 20.18% [7]. - The net profit attributable to shareholders was 66.44 billion, up 23.13% compared to the previous year [7]. - The gross profit margin for the first half of 2025 was 11.61%, a slight decrease of 0.1 percentage points from the previous year [7]. - Operating expenses as a percentage of revenue decreased to 6.68%, reflecting improved operational efficiency [7]. Business Segments - The consumer electronics segment generated revenue of 977.99 billion, with a year-on-year growth of 14.32%, maintaining its position as the primary revenue contributor [3]. - The communications segment saw a significant revenue increase of 48.65%, reaching 110.98 billion, driven by advancements in high-speed connectivity products [4]. - The automotive segment exhibited remarkable growth, with revenue of 86.58 billion, marking an 82.07% increase, highlighting the company's strong position in the automotive supply chain [5]. Strategic Initiatives - The company is focusing on vertical integration and innovation in product offerings to enhance its competitive edge in the consumer electronics market [3]. - Global manufacturing capabilities are being leveraged to meet diverse customer needs, with production bases established in various countries [6]. - The company is committed to enhancing its technological capabilities and operational efficiency through smart manufacturing and AI applications [7]. Future Outlook - The company anticipates stable and slightly increasing market demand in the latter half of 2025, supported by flexible sales strategies from clients [20]. - The automotive and communications sectors are expected to continue driving growth, establishing a solid foundation for long-term sustainable development [5][6].

Financial Performance - The company achieved a revenue of CNY 124.503 billion in the first half of 2025, representing a year-on-year growth of 20.18% [6] - The net profit attributable to shareholders was CNY 6.644 billion, up 23.13% year-on-year [6] - The gross profit margin for the first half of 2025 was 11.61%, a decrease of 0.1 percentage points compared to the same period last year [6] Business Segments Consumer Electronics - Revenue from the consumer electronics segment reached CNY 97.799 billion, with a year-on-year growth of 14.32% [2] - The strategy focuses on "scene ecology, AI empowerment, and global collaboration" to enhance market position [2] Communication Business - Revenue from communication products and precision components was CNY 11.098 billion, showing a significant growth of 48.65% [3] - The company has successfully launched 224G high-speed cable products and is in the process of developing 448G products [3] Automotive Business - The automotive segment generated CNY 8.658 billion in revenue, marking an impressive growth of 82.07% [4] - The company is expanding its product lines in high-voltage and high-speed wiring harnesses, with multiple new projects expected to go into mass production in 2025 [4] Operational Efficiency - The operating expense ratio for sales, management, and research was 6.68%, a decrease of 0.3 percentage points year-on-year, attributed to scale effects from revenue growth [6] - The company reported a net cash outflow from operating activities of CNY 1.658 billion, a reduction of CNY 4.058 billion compared to the previous year [7] Strategic Initiatives - The company is enhancing its global manufacturing capabilities with production bases in countries like Vietnam, Malaysia, and Mexico to meet diverse market demands [5] - Investment in smart manufacturing and innovation is aimed at improving cost control across the entire supply chain [5] Future Outlook - The company anticipates stable and slightly increasing market demand in the second half of 2025, supported by flexible sales strategies from clients [21] - The data center business is expected to continue its rapid growth, driven by increasing demand for AI infrastructure [24]

Core Insights - Lixun Precision (002475.SZ) continues to experience rapid growth, with a reported revenue of 124.5 billion yuan for the first half of 2025, marking a year-on-year increase of 20.18%, and a net profit of 6.644 billion yuan, up 23.13% [1][2] Financial Performance - The company's revenue from communication and precision components reached 11.098 billion yuan, a significant increase of 48.65%, accounting for 8.91% of total revenue [1][2] - Consumer electronics generated 97.799 billion yuan in revenue, reflecting a growth of 14.32% and representing 78.55% of total revenue [1][2] - The overseas revenue for the first half of 2025 was 105.726 billion yuan, up 17.38%, making up 84.82% of total revenue, while domestic revenue was 18.777 billion yuan, increasing by 38.82% and accounting for 15.08% [1][8] R&D Investment - R&D expenses reached 4.594 billion yuan, an increase of 8.86% [4] - The company allocates approximately 30% of its R&D budget to cutting-edge technology innovations, focusing on foundational materials, processes, and techniques [4] - Over the past three years, Lixun Precision has invested a total of 25.192 billion yuan in R&D and currently holds 7,164 patents [4] Future Outlook - The company anticipates a net profit of between 10.89 billion yuan and 11.344 billion yuan for the first three quarters of 2025, representing a growth of 20% to 25% compared to the previous year [6] - Lixun Precision is in the process of an IPO in Hong Kong, expected to raise over 1 billion USD, with funds primarily directed towards global strategic expansion [7][8] - The company aims to enhance its operational efficiency and cost control through "smart manufacturing upgrades" and "underlying technology innovations" [6]

Investment Rating - The report maintains a "Buy" rating for the company [7] Core Views - The company achieved a revenue of 124.5 billion yuan in the first half of 2025, representing a year-on-year growth of 20.2%, with a net profit of 6.64 billion yuan, up 23.1% year-on-year [1] - The company has established a diversified strategic layout across consumer electronics, automotive, and communication sectors, laying a solid foundation for sustainable long-term development [1] - The company expects a net profit of 4.25 to 4.70 billion yuan for Q3 2025, indicating a year-on-year growth of 15.4% to 27.7% [1] Summary by Sections Consumer Electronics - In H1 2025, the consumer electronics segment generated revenue of 97.8 billion yuan, a year-on-year increase of 14.3%, with a gross margin of 10.1% [2] - The segment is benefiting from a new innovation cycle driven by AI, with deepened collaborations with major clients in emerging fields such as AR/VR and robotics [2] Communication and Data Center - The communication and data center segment reported revenue of 11.1 billion yuan in H1 2025, a significant year-on-year growth of 48.7% [3] - The demand for AI applications is driving the construction of global data centers and network upgrades, leading to increased demand for high-speed interconnect solutions [3] Automotive Business - The automotive segment achieved revenue of 8.66 billion yuan in H1 2025, marking an impressive year-on-year growth of 82.1% [4] - The company is expanding its competitive advantage in the global automotive wiring harness market through the acquisition of Leoni, targeting a strategic goal of becoming a Tier 1 supplier [4] Profit Forecast and Investment Recommendations - The company is expected to achieve revenues of 317.1 billion yuan, 374 billion yuan, and 442 billion yuan in 2025, 2026, and 2027 respectively, with corresponding net profits of 16.9 billion yuan, 20.9 billion yuan, and 25.1 billion yuan [5] - The report highlights the structural opportunities presented by AI in high-end manufacturing, with a projected PE ratio of 18, 15, and 12 for 2025, 2026, and 2027 respectively [5]

Core Insights - Lixun Precision Industry Co., Ltd. reported a revenue of 124.5 billion yuan for the first half of 2025, representing a year-on-year growth of 20.18% [1] - The net profit attributable to shareholders reached 6.644 billion yuan, with a year-on-year increase of 23.13% [1] - Basic earnings per share were 0.92 yuan, reflecting a growth of 22.67% compared to the previous year [1] Business Segments Performance - Revenue from automotive interconnected products and precision components surged by 82.07% year-on-year [1] - Revenue from communication interconnected products and precision components increased by 48.65% year-on-year [1] - Revenue from consumer electronics grew by 14.32% year-on-year [1]