东兴证券给予川环科技推荐评级，2025年半年报点评：Q2营收增速略低于预期，盈利能力表现稳健

Core Viewpoint - Dongxing Securities issued a report on August 21, recommending Chuanhuan Technology (300547.SZ, latest price: 49.9 yuan) based on its performance and growth potential in new business areas [2] Summary by Categories Financial Performance - In Q2, the company's revenue showed a quarter-on-quarter growth, although the growth rate was slightly below expectations [2] - The company maintained stable gross margins despite a slight increase in operating expenses [2] Business Development - The company is actively expanding into new business areas, including supercomputing centers and energy storage, with promising prospects for liquid cooling pipelines in these sectors [2]