北交所电竞装备第一股上半年营收超13亿，电脑配件收入增幅最高

Core Viewpoint - The esports industry, represented by Thunderobot Technology, has shown strong performance in its 2025 semi-annual report, with significant revenue and profit growth, driven by a dual strategy of "esports + innovation" [1][4]. Company Performance - Thunderobot Technology reported a revenue of approximately 1.388 billion yuan for the first half of 2025, marking a year-on-year increase of 13.19% [1][5]. - The net profit attributable to shareholders reached approximately 14.34 million yuan, reflecting a year-on-year growth of 69.31% [1][5]. - Research and development expenses amounted to about 26.16 million yuan, up 11.38% year-on-year [1]. Product Breakdown - The company’s gaming laptops generated the highest revenue, approximately 877.79 million yuan, although the year-on-year growth rate was lower than that of computer accessories [2][3]. - Computer accessories and other products saw a revenue increase of 28.86%, contributing the highest growth among the main product categories, despite having a lower gross margin of 5.27% [2][3]. - Peripheral products experienced a decline in revenue growth and an increase in cost, indicating challenges in this segment [2][3]. Market Strategy - Thunderobot has deepened partnerships with major online platforms such as JD.com, Tmall, Pinduoduo, Douyin, and Dewu, leading to significant improvements in brand rankings and market share during promotional events [4]. - The company has launched new products, including the ZERO 18 Pro laptops and Thunderobot AR smart glasses, which were highlighted in the semi-annual report [2]. Industry Context - The Asian region accounts for the largest share of the global esports market, with a revenue distribution of 42.8%, followed by North America and Europe at around 25% each [4]. - Chinese companies have gained competitive capabilities in high-performance esports PCs and peripherals through technological advancements and cost advantages [4]. - Among A-share listed esports peripheral companies, Thunderobot has the lowest market capitalization but the highest growth rates in revenue and net profit, indicating strong growth potential [4].