Group 1: Longxin Fund Research - Longxin Fund recently conducted research on three listed companies, including Luxshare Precision, Srey New Materials, and Century Huatong [1][2][3] Group 2: Luxshare Precision - Luxshare Precision has developed core capabilities across the entire industrial chain in humanoid robotics, capable of independently completing precision machining of key components like harmonic gears [1] - The company has a rich product matrix in the automotive sector, including high and low voltage harnesses, special harnesses, and fast-charging guns, achieving good development momentum globally [1] Group 3: Srey New Materials - For the first half of 2025, Srey New Materials reported revenue of 77.22 million yuan, with liquid rocket engine thrust chamber business revenue growing from 20.97 million yuan in 2022 to 30.16 million yuan in 2024 [2] - The company plans to invest 230 million yuan in the first phase of a project, aiming for an annual production capacity of 200 tons of forgings and 500 sets of thrust chamber components [2] - Srey New Materials employs both open and closed pricing models to manage copper price fluctuations and utilizes futures and options to stabilize raw material costs [2] Group 4: Century Huatong - Century Huatong's games launched in 2023 continue to innovate, with Kingshot breaking overseas records, indicating a larger overseas market with more users [3] - The company has released at least 20 products since 2023, with data-driven strategies leading to successful hits, where small profits account for about two-thirds of total profits [3] - Adjustments in mini-program commission rates are expected to impact company revenue by approximately 2 percentage points but are anticipated to enhance user retention and payment rates [3] Group 5: Longxin Fund Overview - Longxin Fund, established in 2003, has an asset management scale of 193.73 billion yuan, ranking 41st among 211 funds [4] - The fund manages 181 public funds and has 33 fund managers, with the best-performing fund in the past year being Longxin Innovation-Driven Stock, which grew by 76.77% [4] - The latest public fund product launched is Longxin Shanghai Stock Exchange Science and Technology Innovation Board Comprehensive Index Enhanced A, with a subscription period from November 17 to December 15, 2025 [4]

Core Insights - Changxin Fund recently conducted research on Desay SV, highlighting the impact of intelligent driving regulations that demand higher performance and safety standards in automotive configurations [1] - The company has secured new project orders from international automakers such as Toyota, Stellantis, and Volkswagen, with its German factory operating normally and a Spanish factory expected to be completed by the end of this year, starting supply in 2026 [1] - Desay SV has launched the ICube, a robotic intelligent base that applies automotive-grade redundancy design to enhance durability and reliability, supporting rapid model deployment and computational optimization [1] Company Overview - Changxin Fund, established in 2003, has an asset management scale of 193.734 billion yuan, ranking 41st out of 211 in total public funds and 52nd out of 211 in non-monetary public funds [1] - The fund manages 181 public funds, ranking 41st out of 211, with 33 public fund managers, ranking 38th out of 211 [1] - The best-performing public fund product in the past year is Changxin Innovation-Driven Equity, with a latest net value of 2.12 and a growth of 65.96% over the past year [1] - The latest public fund product launched is Changxin Shanghai Stock Exchange Science and Technology Innovation Board Comprehensive Index Enhanced A, which is an index-type equity fund with a subscription period from November 17, 2025, to December 15, 2025 [1]