Core Viewpoint - Hengxuan Technology reported a significant increase in net profit and revenue for Q1 2025, driven by growth in the smart wearable market and improved product sales [1] Financial Performance - The company achieved a revenue of 999.5 million yuan in Q1 2025, representing a year-on-year increase of 52.25%, marking a record high for a single quarter [1] - Net profit attributable to shareholders reached 191 million yuan, showing a remarkable year-on-year growth of 590.22% [1] Key Drivers - The growth in revenue is attributed to the continuous expansion of the smart wearable market, government subsidies boosting consumer demand, and an increase in the sales proportion of smart watch chips [1] - The improvement in product structure led to a higher overall gross margin, while significant revenue growth resulted in economies of scale and a rapid decline in expense ratios [1]