Core Insights - The company reported a revenue of 500 million yuan for the first half of 2025, marking a year-on-year increase of 21.70%, primarily driven by growth in bulk orders from strategic clients in the PCBA sector [1] - However, the net profit attributable to shareholders plummeted by 93% to 3.8416 million yuan, largely due to pressures from new capacity expansions [1] Revenue and Profit Analysis - The PCB design service revenue reached 92.6372 million yuan, up 6.33% year-on-year, with a gross margin of 41.69%, slightly down by 3.94 percentage points [1] - PCBA manufacturing service revenue was 405 million yuan, reflecting a 25.13% increase, but the gross margin decreased by 9.57 percentage points to 23.86% [1] - Operating costs rose by 38.68% year-on-year, outpacing revenue growth, primarily due to increased variable costs associated with expanded revenue scale and new production costs from the Zhuhai Yishengshun factory [1] Cost and Expense Breakdown - Management expenses surged by 62.42% to 47.5733 million yuan, while R&D expenses increased by 18.62% to 60.8251 million yuan, driven by higher personnel costs from the expansion of management and technical teams at the Zhuhai Yishengshun factory [2]
一博科技半年报：营收增长但净利大降93%，珠海等工厂亏损成主因