研报掘金丨国信证券：维持华勤技术“买入”评级，收入及利润创季度新高

Core Viewpoint - GuoXin Securities report indicates that HuaQin Technology achieved a net profit attributable to shareholders of 1.889 billion yuan in the first half of the year, representing a year-on-year increase of 46.30%, marking a strong growth trend [1] Financial Performance - In Q2, both revenue and net profit attributable to shareholders reached a historical high for a single quarter [1] - The revenue structure for H1 2025 shows that high-performance computing accounted for 61.9% of total revenue, an increase of 2% compared to H1 2024 [1] - Smart terminals ranked second with a revenue share of 32.8%, while AIoT and other sectors related to automotive and industrial products contributed 4.0% and 1.3% respectively to total revenue [1] Strategic Initiatives - The company continues to invest in research and development, building a long-term competitive advantage through core technologies [1] - Ongoing integration across multiple fields is being pursued under the "3+N+3" strategy [1] - Through continuous external acquisitions, the company is expected to accelerate its diversified business layout, enhancing overall competitiveness and market position [1] Rating and Outlook - Given the smooth progress of the company's operations across various sectors, the performance forecast has been upgraded, maintaining a "buy" rating [1]