FHEC(SH:688362) Ge Long Hui A P P·2025-08-25 11:31Core Insights - The company, Yongxi Electronics (688362.SH), reported a significant increase in revenue and net profit for the first half of 2025, driven by breakthroughs with overseas major clients and rapid growth among existing core customers [1] Financial Performance - The company achieved operating revenue of 2,010.29 million yuan, representing a year-on-year growth of 23.37% [1] - The net profit attributable to shareholders reached 30.32 million yuan, a substantial increase of 150.45% compared to the same period last year [1] Client Base and Market Position - During the reporting period, the company had 13 clients with sales exceeding 50 million yuan, including 4 clients with sales over 100 million yuan, indicating an optimization of the client structure [1] - Notably, there was significant growth in orders from two leading design companies in Taiwan among the top five clients [1] Cost Efficiency and Profitability - The company experienced a noticeable decrease in expense ratios as revenue grew, with the management expense ratio declining from 8.00% in the first half of 2024 to 6.61% [1] - The financial expense ratio also decreased from 6.07% to 5.15% year-on-year, reflecting improved profitability [1] Gross Margin - The overall gross margin for the first half of 2025 reached 15.61%, with a quarterly gross margin of 16.87% in Q2 2025, an increase of 2.68 percentage points compared to the previous quarter [1]