Bestechnic (Shanghai) (SH:688608) Xin Lang Cai Jing·2026-02-25 09:41Core Viewpoint - Hengxuan Technology (688608.SH) reported a strong performance in 2025, with a focus on low-power wireless computing SoC chips and maintaining a leading market share in the smart wearable sector [1] Financial Performance - The company expects to achieve an operating revenue of 3.525 billion yuan in 2025, representing a year-on-year increase of 8.02% [1] - The net profit attributable to the parent company is projected to be 588 million yuan, reflecting a year-on-year growth of 27.75% [1] - The overall gross profit margin for 2025 is estimated to be around 38.70%, an increase of 4 percentage points compared to the previous year [1] Quarterly Performance - The sales gross profit margins for the first to fourth quarters of 2025 are expected to be approximately 38.5%, 40.1%, 37%, and 39.6%, respectively, indicating stable performance [1] Research and Development - The company plans to invest approximately 691 million yuan in R&D for 2025, an increase of about 74 million yuan or 12% year-on-year [1] - Multiple wearable chips successfully completed tape-out and mass production during the reporting period, enhancing the company's product matrix [1] Market Position - The company continues to strengthen its leading position in the smart wearable and smart hardware sectors by expanding application scenarios [1]