证券日报网讯博实结11月7日在互动平台回答投资者提问时表示，截至2025年10月31日，公司合并普通 账户和融资融券信用账户的股东人数为8，844户。 （文章来源：证券日报） ...

Investment Rating - The report maintains a "Buy" rating for the company [10]. Core Insights - The company achieved total revenue of 1.272 billion yuan in Q1-Q3 2025, representing a year-on-year increase of 21.66%. The net profit attributable to shareholders was 180 million yuan, up 33.95% year-on-year. In Q3 2025, revenue reached 467 million yuan, a 24.31% increase year-on-year, with net profit of 73 million yuan, reflecting a significant year-on-year growth of 64.42% [2][6][10]. - The acceleration in Q3 was primarily driven by the demand expansion from the implementation of the 5G + Beidou policy in domestic commercial vehicles and the market development of smart sleep terminals. The gross margin for Q3 was 25.29%, an increase of 3.76 percentage points year-on-year, while the net margin was 15.57%, up 3.80 percentage points year-on-year [2][6][10]. Summary by Sections Financial Performance - For Q1-Q3 2025, the company reported total revenue of 1.272 billion yuan, a 21.66% increase year-on-year, and a net profit of 180 million yuan, up 33.95% year-on-year. In Q3 alone, revenue was 467 million yuan, a 24.31% increase year-on-year, with net profit reaching 73 million yuan, a 64.42% increase year-on-year [2][6][10]. Business Development - The company continues to launch new products based on core technologies such as communication and positioning, extending into various IoT application scenarios. The coherent technology iteration allows for efficient product development without excessive foundational research [8]. - The company has established a full-stack IoT solution system comprising "modules + platforms + terminals," which enhances its hardware and software capabilities. This positions the company to benefit from the growth of AI terminals while maintaining product competitiveness and constructing profitability advantages through refined cost control [8]. Future Projections - With the smart sleep terminal and overseas business entering a rapid growth phase, the company is expected to accelerate its new growth trajectory. The overseas business, which has a higher gross margin compared to domestic operations, is anticipated to improve the overall gross margin of the company [8]. - The projected net profits for 2025-2027 are estimated at 230 million yuan, 304 million yuan, and 402 million yuan, corresponding to year-on-year growth rates of 31%, 32%, and 32%, with price-to-earnings ratios of 34x, 26x, and 20x respectively [8].

Core Insights - The company, Boshi, reported that as of October 31, 2025, the number of shareholders in its consolidated ordinary account and margin trading credit account will reach 8,844 [2] Summary by Categories - **Shareholder Information** - The total number of shareholders is projected to be 8,844 by the specified date [2]

（记者 曾健辉） 截至发稿，博实结市值为78亿元。 每经头条（nbdtoutiao）——36天，美国联邦政府"停摆"创纪录！航空濒临关闭，军饷发放困难，债务 增超6000亿美元...... 每经AI快讯，博实结（SZ 301608，收盘价：88元）发布公告称，2025年11月4日下午，博实结接受长江 证券调研，公司副总经理、董事会秘书向碧琼等人参与接待，并回答了投资者提出的问题。 2024年1至12月份，博实结的营业收入构成为：物联网占比98.16%，其他行业占比1.84%。 ...

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]

Market Overview - The shared economy sector experienced a decline of 1.13% on November 4, with BoShijie leading the drop [1] - The Shanghai Composite Index closed at 3960.19, down 0.41%, while the Shenzhen Component Index closed at 13175.22, down 1.71% [1] Stock Performance - Notable gainers in the shared economy sector included: - Publishing TianShi (000572) with a closing price of 7.99, up 10.06% on a trading volume of 1.989 million shares and a turnover of 1.576 billion [1] - FuLinYuanV (002357) closed at 11.01, up 2.99% with a trading volume of 223,600 shares and a turnover of 250 million [1] - Nanwei Software (603636) closed at 12.49, up 2.13% with a trading volume of 262,200 shares and a turnover of 326 million [1] - Major decliners included: - BoShijie (301608) closed at 88.06, down 2.70% with a trading volume of 10,300 shares and a turnover of 91.444 million [2] - Qianli Technology (601777) closed at 11.43, down 1.97% with a trading volume of 282,800 shares and a turnover of 324 million [2] - BYD (002594) closed at 97.80, down 1.81% with a trading volume of 435,000 shares and a turnover of 4.274 billion [2] Capital Flow - The shared economy sector saw a net outflow of 1.506 billion from institutional investors, while retail investors contributed a net inflow of 1.136 billion [2][3] - The capital flow for specific stocks showed: - Haima Automobile (000572) had a net inflow of 73.226 million from institutional investors [3] - Siwei Tuxin (002405) had a net inflow of 31.064 million from institutional investors [3] - BoShijie (301608) had a net inflow of 9.602 million from institutional investors [3]

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 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].