Ge Long Hui A P P·2025-09-15 06:20Core Viewpoint - Changfei Fiber's net profit for the first half of the year was 296 million yuan, a year-on-year decrease of 22%, with a second-quarter net profit of 144 million yuan, down 55% year-on-year, primarily due to a non-recurring gain of 194 million yuan from the acquisition of RFS in the same period last year [1] Financial Performance - The decline in net profit is attributed to the previous year's non-recurring income from the RFS acquisition [1] - The company experienced slightly higher asset impairment in the first half of the year [1] Business Strategy - Despite pressure on traditional cable business, the company saw growth contributions from multimode fiber, MPO, and AOC, indicating a deepening of its diversification strategy [1] - Changfei is developing high value-added products such as multimode and hollow-core fibers based on its traditional optical fiber business [1] Technological Advancements - In the third-generation semiconductor sector, Changfei's advanced semiconductor production base in Wuhan is set to complete its first wafer by May 2025, and it has established the first fully automated crane handling factory in the silicon carbide industry [1] Investment Rating - The company maintains an "overweight" rating as it continues to diversify and develop new product lines [1]