CVTE(SZ:002841) Xin Lang Cai Jing·2025-08-29 06:29Core Viewpoint - The company has reported a mixed performance in the first half of 2025, with revenue growth in certain segments but a decline in net profit due to various factors including raw material price fluctuations and changes in product revenue structure [2][3][12]. Financial Performance - The company achieved operating revenue of 1,056,460.75 million yuan, a year-on-year increase of 4.39% [2]. - The net profit attributable to shareholders decreased by 19.66% to 39,767.63 million yuan [2]. - The comprehensive gross margin declined by 1.38 percentage points year-on-year, although it stabilized quarter-on-quarter [2]. Segment Performance - Revenue from the liquid crystal display main control board decreased by 7.26% to 308,336.50 million yuan due to a drop in shipments from major TV clients [3]. - The home appliance controller segment saw a significant revenue increase of 66.43%, reaching 129,969.34 million yuan [3]. - The domestic education business generated revenue of 172,684.82 million yuan, up 13.79%, benefiting from a multi-product strategy [4]. - The LED business experienced a revenue growth of 52.26% in the first half of 2025 [5]. - The overseas ODM business faced challenges, with revenue declining by 23.69% due to external factors [6]. Product Development and Innovation - The company is focusing on AI integration in education, with the Xiwo classroom intelligent feedback system implemented in 19 key application demonstration areas, covering over 3,000 schools [7][9]. - The company is expanding its product ecosystem in education AI, including the Xiwo AI preparation assistant and other hardware solutions [9][10]. - The company has launched several robotic products, including commercial cleaning robots and the MAXHUB X7 quadruped robot, with plans for further market expansion [11]. Strategic Initiatives - The company has submitted an application for listing H shares on the Hong Kong Stock Exchange, with funds aimed at enhancing R&D capabilities and international expansion [14]. - The company maintains a consistent R&D investment of around 7% of operating revenue, focusing on core areas such as smart control components and AI algorithms [15].