新光光电：在拓展军品和民品领域市场的同时，积极开发军贸市场

Core Viewpoint - The company reported a significant decline in revenue and net profit for the first half of 2025, primarily due to delays in project deliveries and ongoing production stages, while also emphasizing its commitment to innovation and support for national defense modernization [1][2][3] Financial Performance - The company achieved operating revenue of 21.28 million yuan, a year-on-year decrease of 58.77%, mainly due to a 65.89% drop in revenue from optical target and scene simulation systems [1] - The net profit attributable to shareholders was -20.79 million yuan, with a net profit excluding non-recurring losses of -28.78 million yuan, attributed to insufficient gross profit to cover expenses [2] - The net cash flow from operating activities was -33.59 million yuan, but this represented a year-on-year increase of 20.19%, driven by increased cash receipts from sales and reduced cash payments to employees [2] Strategic Direction - The company plans to continue theoretical, process, technological, and application innovations while expanding into both military and civilian markets, as well as actively developing military trade markets [3] - The company has a strong focus on core technologies in optical guidance, optical target and scene simulation, and laser countermeasures, which support the development and production of key weapon systems [2][3] Management Changes - The company announced that during the detention of its chairman and general manager, the vice chairman will assume the responsibilities of the chairman, and the vice general manager will take over the general manager's duties [3]