研报掘金丨中邮证券：苏试试验Q2业绩快速增长，维持“买入”评级

Core Viewpoint - The report from Zhongyou Securities indicates that Su Shi Testing achieved a net profit attributable to shareholders of 117 million yuan in the first half of 2025, representing a year-on-year increase of 14.18% [1] Financial Performance - In Q1 2025, the company reported a net profit of 41 million yuan, showing a year-on-year decline of 3% - In Q2 2025, the net profit increased to 76 million yuan, with a year-on-year growth rate of 26% [1] - The significant improvement in Q2 performance compared to Q1 is attributed to strong demand in both the testing equipment and testing services sectors [1] Market Outlook - The company maintains an optimistic outlook for the second half of the year, expecting continued growth in testing equipment and environmental testing services [1] - The integrated circuit sector has shown remarkable performance, contributing to the overall positive market sentiment [1] Long-term Growth Potential - The company is focused on enhancing its technical reserve capabilities and actively exploring emerging fields, which is expected to provide long-term growth opportunities [1] - The projected PE valuations for the company from 2025 to 2027 are 28.49, 23.62, and 19.83 respectively, supporting a "buy" rating [1]