Appo(SH:688007) 智通财经网·2025-08-29 14:05Core Viewpoint - In the first half of 2025, the company reported a revenue of 961 million yuan and a net cash flow from operating activities increased by 173 million yuan year-on-year, indicating a strong financial position and a focus on strategic transformation and business development [1] Group 1: Financial Performance - The company achieved an operating revenue of 961 million yuan in the first half of 2025, with a net cash flow from operating activities increasing by 173 million yuan year-on-year [1] - The resolution of arbitration matters with GDC has alleviated historical burdens, allowing the company to focus more on its core business [1] Group 2: R&D and Technological Advancements - 2025 is a critical year for the company to break through upstream core device development, with increased investment in cutting-edge fields and a focus on semiconductor laser technology based on GaN and GaAs materials [2] - R&D expenses rose by 11.81% to 125 million yuan, accounting for 12.98% of operating revenue, reflecting a commitment to innovation [2] - The company has obtained 2,372 authorized patents globally, including 1,233 invention patents, with a 33% year-on-year increase in AR and AI-related patents [2] Group 3: Business Development and Market Strategy - The cinema business generated 288 million yuan in revenue, a year-on-year increase of 7.48%, contributing stable cash flow [3] - The company has formed a strategic partnership with Valeo to launch a new generation of automotive lighting solutions, enhancing safety and personalization in driving experiences [3] - The company is actively adjusting its market strategies in the automotive sector to avoid ineffective competition and optimize home product technology [3]