鸿博股份：算力产业助力半年度盈利跃升

Core Insights - Hongbo Co., Ltd. reported a significant turnaround in its financial performance for the first half of 2025, achieving total revenue of 790 million yuan, a year-on-year increase of 197.92%, and a net profit attributable to shareholders of 42.26 million yuan, up 206.81% compared to the previous year [1] - The core driver of this performance is the company's computing power business, which contributed 595 million yuan in revenue, accounting for 75.25% of total revenue, indicating a successful transition from traditional printing and packaging to the high-growth computing power sector [1] - The company has strategically positioned itself in the booming artificial intelligence market, having entered the computing power service sector in 2022, with its computing power business showing promising growth and sustainability [2] Financial Performance - The company achieved a total revenue of 790 million yuan in the first half of 2025, marking a 197.92% increase year-on-year [1] - Net profit attributable to shareholders reached 42.26 million yuan, reflecting a year-on-year growth of 206.81% [1] - The computing power business generated 595 million yuan in revenue, representing 75.25% of the company's total revenue [1] Strategic Transition - Hongbo Co., Ltd. has successfully transformed from a traditional printing leader to a significant player in the AI computing power sector [2] - The company has focused on the core areas of national new productivity development and achieved a technological breakthrough through specialized operations [2] - The successful case of Hongbo Co., Ltd. serves as a model for traditional enterprises undergoing transformation and upgrading [2] Market Position - The global artificial intelligence market is experiencing rapid growth, with increasing scarcity of computing resources [2] - Hongbo Co., Ltd. has leveraged its early-mover advantage in the computing power wave, positioning itself favorably in the market [2] - The company's technical accumulation and customer resources are expected to create a competitive moat as more collaborative projects reach fruition [2]