Guobo Electronics (SH:688375) Xin Lang Cai Jing·2025-08-30 00:53Core Viewpoint - The company has shown signs of recovery in revenue and net profit in Q2 2025, with a focus on improving management and operational efficiency [2][4]. Financial Performance - In Q2 2025, the company achieved revenue of 720 million yuan, a year-on-year increase of 18.23%, and a net profit attributable to shareholders of 144 million yuan, up 16.20% year-on-year [2]. - For the first half of 2025, the company's T/R components and RF module business generated revenue of 944 million yuan, a decrease of 19.27% year-on-year, while the RF chip business saw revenue of 91 million yuan, an increase of 3.72% year-on-year [2]. - The company's total liabilities decreased by 19.25% year-on-year to 1.472 billion yuan, while cash and cash equivalents fell by 32.99% to 1.867 billion yuan [1]. Product Development and Market Position - The company is a leading domestic provider of active phased array T/R components, with increasing demand in radar communication technology [3]. - The company is expanding its application fields for T/R components into low Earth orbit satellites and commercial aerospace, with multiple products already delivered to customers [3]. - In the RF integrated circuit sector, the company has achieved large-scale supply of RF integrated circuits and modules for domestic 4G and 5G mobile communication, with potential growth in 5G-A and 6G technologies [3]. Investment Outlook - The company is projected to have EPS of 0.96, 1.22, and 1.56 for 2025-2027, with corresponding PE ratios of 67.5, 53.1, and 41.4 based on the closing price of 64.72 yuan on August 28 [4].