Avary Holding(SZ:002938) 招商电子·2025-07-15 05:21Core Viewpoint - The company forecasts a net profit attributable to shareholders of 1.2-1.26 billion for H1 2025, representing a year-on-year growth of 52.8%-60.6% [2] Group 1: Q2 Performance - Q2 revenue reached 8.29 billion, a year-on-year increase of 28.7% and a quarter-on-quarter increase of 2.5% [2] - The net profit attributable to shareholders for Q2 is projected at 741 million, a year-on-year increase of 158.1% and a quarter-on-quarter increase of 51.8% [2] - The strong Q2 performance exceeded market expectations due to product structure optimization, increased utilization rates, and improved yield rates [2] Group 2: AI Investment and Strategy - The company plans to increase investment in AI capital expenditures and actively explore overseas computing power markets for significant breakthroughs [3] - The strategic shift towards AI computing business includes expanding production capacity in domestic and overseas bases, with expectations for continued release of AI-PCB capacity in H2 [3] Group 3: Long-term Outlook - The company believes that the hardware innovation from major clients and the synergy of AI cloud management will drive a three-year upward cycle [4] - The years 2025-2027 are expected to be significant for major clients' innovations, with new products like AI-iPhones and wearable devices driving demand for upgraded designs and technologies [4] - The company anticipates that traditional business will benefit from the AI transformation of major clients, with expansion in non-mobile sectors such as AI servers and low-orbit satellites providing long-term growth momentum [4]