Zheng Quan Zhi Xing·2025-08-29 00:07Group 1: Minexplosion Optoelectronics (301362) - The company expects revenue distribution in 2025 H1 to be 45.46% from Europe, 18.71% from Asia, 14.71% from Oceania, 14.38% from the Americas, and 5.05% from domestic sales [1] - The company has over 300 million yuan in hand orders, with Europe being the main revenue source [1] - The Vietnam factory is planned to be operational by August 2026, with a full production value of 500 million yuan to address the North American market and trade frictions [1] - The company aims for annual revenue of 100-150 million yuan from each of its special lighting segments, including plant, emergency, medical beauty, and explosion-proof lighting [1] - The company reported a revenue of 14 million yuan from explosion-proof lighting in 2025 H1, a year-on-year increase of 435.52% [1] - The company plans to maintain a cash dividend policy of at least 50% of distributable profits annually, with dividends of 249 million yuan in 2023 and 196 million yuan in 2024 [1] Group 2: Giant Network (002558) - The company achieved a revenue of 1.662 billion yuan in 2025 H1, a year-on-year growth of 16.47%, and a net profit of 777 million yuan, up 8.27% [2] - The self-developed product "Supernatural Action Group" has shown rapid growth in user base and revenue, with major contributions expected to be released later due to revenue deferral [2] - The company plans to extend the game lifecycle through enhanced content supply, optimized game performance, and collaboration with well-known IPs [2] - The company is exploring overseas markets for "Supernatural Action Group" and continues to innovate in native I-games [2] - The increase in contract liabilities in Q1 and Q2 is attributed to revenue growth from "Original Journey" and deferred income [2] - R&D expenses increased in Q2 due to rising labor costs and technical service fees [2]