研报掘金丨国盛证券：维持立讯精密“买入”评级，三大核心业务板块齐驱并进

Core Viewpoint - Lixun Precision's net profit attributable to shareholders in the first half of the year reached 6.64 billion yuan, representing a year-on-year increase of 23.1% [1] Financial Performance - The gross profit margin stood at 11.6%, remaining relatively stable year-on-year [1] - The net profit margin was 5.9%, showing a year-on-year increase of 0.3 percentage points [1] - In Q2 2025, the net profit attributable to shareholders was 3.6 billion yuan, reflecting a year-on-year growth of 23.1% and a quarter-on-quarter increase of 18.3% [1] Business Strategy - The company has established a diversified strategic layout across consumer electronics, automotive, and communication sectors, laying a solid foundation for long-term sustainable development [1] - AI is reshaping the industry landscape, with demand for computing power shifting from cloud to edge and endpoint, presenting structural opportunities for high-end manufacturing enterprises [1] - The company aims to leverage its expertise in precision manufacturing, materials science, and system integration to synergistically develop its three core business segments: consumer electronics, communication and data centers, and automotive [1] Investment Rating - The company maintains a "buy" rating [1]