美芯晟：半年报净利润大增 131%，经营效率攀升释放盈利弹性

Group 1 - The company achieved strong growth in revenue and net profit in the first half of 2025, with revenue reaching 265 million, a year-on-year increase of 37%, and net profit increasing by 131% [1] - Gross margin improved significantly by 12 percentage points year-on-year, while the expense ratio decreased by 11 percentage points, indicating a positive trend where revenue and gross profit growth outpaced expense growth [1] - The company optimized supply chain management and enhanced product yield while reducing manufacturing costs through its self-developed BCD process and core optical laser technology [1] Group 2 - The company is strategically positioned in three major platforms: mobile phones, automobiles, and robotics, with new products entering the robotics field and accelerating validation and promotion of optical solutions in various AIoT applications [2] - Continuous product structure upgrades have established a virtuous cycle of "technological leadership, high-end products, and efficient operations," leveraging growth opportunities in emerging markets and deepening domestic substitution trends [2] - The company maintains high R&D investment while significantly improving R&D efficiency, contributing to the foundation for sustained annual performance growth [2]