鸿海二季报符合市场预期，AI服务器需求强劲

Core Viewpoint - Hon Hai Precision Industry's revenue growth in Q2 is driven by strong demand for AI servers and iPhones, with a year-on-year increase of 15.8%, reaching NT$1.8 trillion, and expectations for continued growth in the next quarter [1]. Group 1: Financial Performance - In Q2, Hon Hai's revenue reached NT$1.8 trillion, marking a 15.8% year-on-year increase, aligning with market expectations [1]. - Cumulative revenue for the first half of 2025 is NT$3.44 trillion, reflecting a 19.68% year-on-year growth compared to NT$2.87 trillion in the same period of 2024 [2]. Group 2: Business Segments - The AI server segment benefits from stable spending by cloud service providers, contributing to a robust order base for Hon Hai [3]. - The iPhone segment sees increased production orders due to anticipated tariff impacts, leading to heightened demand for expedited deliveries [3]. - Apple's performance in the Chinese market supports Hon Hai's revenue growth, with a reported 8% increase in iPhone sales in Q2 driven by strong demand for the iPhone 16 Pro and Pro Max models [3]. Group 3: Market Outlook - Analysts predict that the AI supply chain will continue to experience strong growth, providing stable orders for contract manufacturers like Hon Hai as major cloud service providers increase their AI-related investments [3]. - Despite the positive outlook, geopolitical uncertainties pose challenges for Hon Hai, leading to a downward adjustment of the annual revenue guidance in May [2].