Group 1 - The core viewpoint of the article highlights the robust demand in the internet industry, which has driven accelerated revenue growth for companies [1] - In Q2 2025, Unisplendour achieved operating revenue of 26.635 billion yuan, representing a year-on-year increase of 27.17% and a quarter-on-quarter increase of 28.12% [1] - The net profit attributable to the parent company for Unisplendour in Q2 2025 was 0.692 billion yuan, showing a year-on-year increase of 18.01% and a quarter-on-quarter increase of 98.64% [1] Group 2 - In H1 2025, New H3C achieved operating revenue of 36.404 billion yuan, with a year-on-year increase of 37.75% and a net profit of 1.851 billion yuan, reflecting a year-on-year increase of 2% [1] - The domestic government enterprise business revenue for New H3C was 31.035 billion yuan, marking a year-on-year increase of 53.55%, driven by the sustained growth in the internet industry and the company's comprehensive layout in internet vendors [1] - As of the end of H1 2025, inventory stood at 43.842 billion yuan, up 19.0% from the beginning of the year, while contract liabilities reached 15.912 billion yuan, an increase of 9.7% from the beginning of the year [1] Group 3 - The sales expense ratio, management expense ratio, R&D expense ratio, and financial expense ratio for the company in H1 2025 were 4.03%, 1.06%, 5.16%, and 1.50%, respectively, showing year-on-year changes of -1.42 percentage points, -0.16 percentage points, -1.19 percentage points, and +0.91 percentage points [1] - Based on comparable company valuations, a PE of 35 times for 2026 is suggested (previously 35 times for 2025), corresponding to a target price of 33.21 yuan, reflecting a decrease of 4% [1] - The company maintains an "outperform the market" rating [1]