Investment Rating - The report maintains a "Buy" rating for the company, indicating expected stock price growth exceeding market benchmarks by more than 15% within the next six months [5][14]. Core Insights - The company achieved a record high quarterly revenue of 10.196 billion yuan in the first half of 2025, marking a year-on-year increase of 12.80%. However, the net profit attributable to shareholders saw a significant decline of 97.51% to 0.15 billion yuan [1]. - The enterprise-level storage business has become a crucial growth driver, with significant advancements in product compatibility and technology, including successful adaptations with various domestic CPU platforms [2]. - The company has made breakthroughs in self-developed main control chips, with over 80 million units deployed, and has established strategic partnerships to enhance its product offerings [3]. - The company is actively expanding its global market presence, reaching over 60 countries and regions, and aims to capitalize on the growing demand for storage solutions in the AI era [3]. Financial Summary - The company forecasts net profits of 0.615 billion yuan, 1.112 billion yuan, and 1.503 billion yuan for 2025, 2026, and 2027 respectively, with corresponding price-to-earnings ratios of 68, 38, and 28 times [4]. - Revenue projections for the upcoming years are 22.341 billion yuan in 2025, 26.692 billion yuan in 2026, and 29.471 billion yuan in 2027, reflecting growth rates of 27.93%, 19.48%, and 10.41% respectively [4][12].