KSW-TECH(SH:688283) Zhong Zheng Wang·2025-08-26 07:21Core Viewpoint - The company reported a revenue increase of 26.69% year-on-year for the first half of 2025, driven by structural improvements in downstream market demand and growth in testing and simulation instrument needs [1] Group 1: Financial Performance - The company achieved a revenue of 102 million yuan in the first half of 2025, with a net profit attributable to shareholders of 12.81 million yuan, a decrease of 8.49% year-on-year [1] - In Q2 2025, the company recorded a revenue of 71.82 million yuan, representing a year-on-year growth of 28.28%, and a net profit of 13.54 million yuan, an increase of 23.44% year-on-year [1] Group 2: Product Development and Market Position - The company specializes in high-end radio simulation testing instruments and solutions, focusing on sectors such as wireless communication, navigation, vehicle networking, and the Internet of Things [1] - The company has seen continuous market validation for new products, including the next-generation channel simulation instrument and spectrum analyzer, which have led to rapid revenue growth [1][2] - The product matrix related to the satellite industry is expanding, providing new growth momentum through products like channel simulators and RF microwave signal generators [2] Group 3: Research and Development - The company invested 30.62 million yuan in R&D in the first half of 2025, a year-on-year increase of 2.22%, with R&D expenses accounting for 29.91% of revenue [2] - Continuous optimization of core product functions is being pursued, leveraging new technologies to enhance product performance [2] - The R&D center is actively engaged in developing new products and technologies, laying a solid foundation for the company's long-term product strategy [2]