In the past week, over 180 stocks have undergone institutional research, with XinQiangLian leading in the number of research institutions engaged. XinQiangLian was surveyed by 189 institutions, including 55 fund companies, 30 securities firms, 35 private equity firms, 13 insurance companies, and 6 overseas organizations. In the first three quarters of this year, the company achieved operating income of 3.618 billion yuan, a year-on-year increase of 84.1%, and a net profit of 582 million yuan after excluding non-recurring items, up 846.59%. During the research, the company indicated that its current capacity utilization is reasonable. Through equipment adjustments (such as the introduction of new quenching equipment), production line upgrades, and process optimizations, it can further tap into its existing capacity potential. The gearbox bearing project is still in a steady development phase, and the company will continue to enhance capacity utilization and ensure delivery capabilities in line with market demand and order rhythms to support steady business expansion. Additionally, the company reported smooth progress in its shield machine bearing project, establishing solid and deep partnerships with industry clients, successfully applied to several tunnel engineering projects domestically. The market space for this segment is closely linked to infrastructure investment trends, and the company will continue to monitor changes in downstream demand, leveraging its technical expertise and product validation experience to actively expand into related fields and meet client needs.
Stocks such as Duofuduo, Hikvision, Huace Detection, Baiya Co., Ltd., and Jereh Group have each received over 100 institutional research engagements. In the third quarter of 2025, Duofuduo reported operating income of 2.4 billion yuan, a year-on-year increase of 5.18%, with a net profit of 26.72 million yuan. During the first three quarters, the cumulative net profit attributable to the parent company reached 78.05 million yuan, marking a year-on-year increase of 407.74%, significantly enhancing profitability compared to the same period last year. Duofuduo indicated that the sharp rise in lithium hexafluorophosphate prices after the National Day holiday was primarily driven by surging demand from the downstream new energy and storage industries, a dichotomy between concentrated supply capacity and cautious expansion, and fluctuations in raw material prices. In the short term, the market’s tight supply-demand balance could persist until 2026, with upward potential for prices. Jl Mag Rare-Earth Co., Ltd. reported operating income of 5.373 billion yuan in the first three quarters, representing a year-on-year increase of 7.16%, with a net profit attributable to the parent company of 515 million yuan, up 161.81%. During the research, Jl Mag Rare-Earth disclosed that following the introduction of export control measures for medium and heavy rare earth exports, the company has been conducting export declarations in accordance with national regulations and has successively obtained export licenses issued by national authorities. Besides, the company has established a division for embodied robotics motor rotors and set up a research and development center in Hong Kong, becoming a key partner of the Hong Kong Special Administrative Region Government’s key enterprise introduction program. In the first three quarters of 2025, small batches of embodied robotics motor rotors and magnetic materials have been delivered. From a market performance standpoint, stocks undergoing institutional research have averaged a 4% increase over the past week, with XinQiangLian, Shijia Photon, Boying Te Welding, Chenfeng Technology, and Zhuhai Gan Yu each seeing rises of over 20%. Shijia Photon stated that the decrease in net profit and gross margin in the third quarter was mainly due to temporary market fluctuations causing some clients to adjust their order schedules, leading to a lower proportion of revenue from relatively high-margin products. At the same time, orders for lower-margin products increased significantly during this period. It is important to note that the technical advantages, market competitiveness, and long-term demand trends for the company’s core products remain unchanged. The company plans to continually enhance profitability by optimizing its order structure and improving the operational efficiency of lower-margin products. Zhuhai Gan Yu emphasized the ongoing development of smart wearable devices to meet consumer demands for portability, lightweight, and multifunctionality. The emergence of various AI open-source models has led to innovative hardware carriers such as AI glasses and AI watches, supporting stable growth in the smart wearable devices market. The company is actively expanding related market businesses and connecting with several leading smart wearable enterprises. Sifangda mentioned that the recent products subject to export controls by the Ministry of Commerce and the General Administration of Customs regarding superhard materials primarily include diamond micro-powder, single-crystal diamonds, diamond wire saws, and grinding wheels. The company specializes in precision processing products of diamond composite sheets and CVD diamonds. The restrictions on micro-powder domestically will affect the procurement cycle and pricing changes for diamond composite sheet manufacturers abroad, creating a positive impact on domestic diamond composite sheet production companies.
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