Group 1 - The core viewpoint of the article highlights the significant increase in gold prices during the first half of the year, with a cumulative rise of 25.84% in London spot gold prices [1] - In late April, gold prices reached a historical high of $3500 per ounce, indicating strong market performance [1] - The robust performance of gold prices has positively impacted the earnings of gold mining companies, which have shown sustained high growth in their performance [1] Group 2 - Several listed companies in the downstream gold jewelry sector have also reported impressive earnings, reflecting a favorable overall development trend in the industry [1]

Core Viewpoint - Hengtong Optic-Electric has shown significant growth in both revenue and net profit since its listing in 2003, with a strong focus on smart grid and copper conductor products, indicating robust business performance and market potential [3][4][5]. Revenue Analysis - In 2020, Hengtong Optic-Electric achieved revenue of 32.384 billion yuan, which increased to 59.984 billion yuan by 2024, demonstrating a fluctuating upward trend, with notable growth rates in 2021 and 2024 [4]. Profit Analysis - The company reported a net profit attributable to shareholders of 1.062 billion yuan in 2020, which rose to 2.769 billion yuan in 2024, maintaining positive growth in all years except for a decline in 2020 [5]. Market Performance - Since its IPO, Hengtong Optic-Electric's market capitalization has increased by 26.34 times, peaking at 63.733 billion yuan on November 22, 2017, with a corresponding stock price of 46.87 yuan. As of August 21, the market cap was 44.969 billion yuan, reflecting a decrease of 18.764 billion yuan, or 29.44% from its peak [7]. Product Revenue Structure - The main business segments include smart grid and copper conductor products, with smart grid accounting for the highest revenue share at 36.98%, followed by copper conductors at 25.02% [3]. Profit Growth Consistency - Over the past 22 years, Hengtong Optic-Electric has not recorded any annual losses, achieving net profit growth in 17 of those years, which represents 77.27% of the time [3].