Core Viewpoint - The company maintains a "buy" rating for Shoucheng Holdings (00697) due to its strong market position in the parking lot operation sector and its strategic expansion into the robotics industry, supported by stable cash flow and unique business models [1] Group 1: Robotics Market Expansion - The company has opened the first permanent robotics technology experience store in Beijing during the National Day holiday, showcasing 1,000 SKU robot products across various life scenarios, enhancing consumer interaction and sales [2] - A pop-up store was launched at the T3 terminal of Beijing Capital International Airport, allowing travelers to experience robotics technology firsthand [2] - The company plans to open 20 additional stores nationwide over the next year to accelerate the promotion and sales of robotics products [2] Group 2: Robotics Industry Ecosystem - The company has invested in several leading firms in the robotics sector, covering humanoid robots, medical robots, and industrial robots, thereby deepening its industry layout [3] - A new subsidiary, Beijing Shoucheng Robotics Technology Industry Co., Ltd., has been established to create a comprehensive robotics industry ecosystem through sales, financing leasing, industry consulting, and supply chain management [3] - A strategic partnership with Alter Automotive has been signed to promote the application of robotics technology in automotive research and manufacturing [3] Group 3: Financial Performance - In the first half of 2025, the company reported revenue of HKD 731 million, a year-on-year increase of 36%, driven by efficient operations of new and existing projects [4] - Asset operation revenue reached approximately HKD 511 million, up 26% from the previous year, while asset financing revenue increased by 69% to about HKD 220 million [4] - The overall gross profit for the first half of 2025 was approximately HKD 295 million, also reflecting a 26% increase year-on-year, with a high interim dividend payout ratio of 80% [4]