Appo(SH:688007) Zhong Zheng Wang·2025-08-30 07:05Core Insights - The company reported a revenue of 961 million yuan for the first half of 2025, with a net cash flow from operating activities increasing by 173 million yuan year-on-year, indicating a strong financial position for strategic implementation and business transformation [1] Group 1: Technological Advancements - 2025 is a pivotal year for the company as it focuses on breakthroughs in upstream core components, particularly in the laser industry, to enhance its business in emerging sectors like AR glasses and robotics [2] - The company has increased its R&D investment in upstream core components, with R&D expenses rising by 11.81% to 125 million yuan, accounting for 12.98% of revenue, reflecting a commitment to innovation [2] - As of June 30, 2025, the company holds 2,372 authorized patents globally, including 1,233 invention patents, and has seen a 33% year-on-year increase in patents related to AR and AI [2] Group 2: Business Performance - The company's cinema business generated 288 million yuan in revenue, a year-on-year increase of 7.48%, contributing stable cash flow and achieving a leading market share in newly installed LED screens [3] - The professional display business has successfully applied its products in high-profile projects, enhancing the company's international brand influence [3] - A strategic partnership was formed with Valeo during the 2025 Shanghai Auto Show to launch a new generation of automotive lighting solutions, integrating the company's ALL-in-ONE color laser headlights for a safer and more personalized driving experience [3]