均胜电子-2025 年四季度业绩符合预期；聚焦人形机器人与高级驾驶辅助系统（ADAS）项目加速推进

March 30, 2026 01:10 PM GMT Ningbo Joyson Electronic Corp | Asia Pacific 4Q25 In Line; Eyes on Humanoid and ADAS Projects Ramp-up Unchanged In-line Largely unchanged Impact to our thesis Financial results versus consensus Direction of next 12-month consensus EPS Source: Company data, Morgan Stanley Research 4Q25 in line: 4Q25 earnings of Rmb216mn brought full-year earnings to Rmb1,336mn, largely in line with preliminary results. New project launches supported revenue growth: 4Q25 revenue grew 4% YoY but dec ...