Core Viewpoint - Hongjing Optoelectronics (301479.SZ) has reported a decline in the gross margin of its emerging consumer camera modules, primarily due to adjustments in product structure and increased sales of new products, which are currently facing manufacturing challenges [1] Group 1: Company Performance - The gross margin for emerging consumer camera modules in the first half of 2025 is 15.48%, which represents a decrease compared to the same period last year [1] - The decline in gross margin is attributed to a significant increase in the sales proportion of new products, which are still in the ramp-up phase regarding yield rates [1] Group 2: Industry Trends - Emerging consumer camera modules mainly consist of panoramic/sport camera modules and machine vision camera modules [1] - The manufacturing difficulty of new products has led to increased rework costs, impacting overall profitability [1]
弘景光电(301479.SZ)：上半年新兴消费摄像模组的毛利率为15.48%，较去年同期有所下降