根据合作内容，双方将联合投资、共同开发并合作生产面向中国市场的健康产品，并对GN现有系列产 品进行国产化升级。GN集团是韩国居家健康设备品牌及医疗设备服务商，年营收超10亿元人民币，其 产品已获得多国医疗器械认证。 元生源因集团自2024年第四季度起在中国市场引入GN的BODYDOCTOR系列产品，包括凯格尔强臀 机、近红外坐浴热温仪和EMS塑形按摩带。目前该系列产品经销网络已覆盖全国十余个省、市、自治 区。 凤凰网科技讯12月11日，北京元生源因健康管理有限公司与韩国GN集团宣布深化战略合作，共同成立 GN集团中国总部。位于北京正大中心的GN中国体验中心"GNSPACE"于同日开业运营。 GN集团董事长宋康浩在开业仪式上表示，中国总部的成立是新起点，双方将共同回应中国市场增长的 健康需求。元生源因集团CEO、GN中国总裁张晔称，将结合中国智能技术与GN核心科技推动产品迭 代，2026年将全面推进GN产品国产化布局。 张晔同时透露，位于北京蓝色港湾的GN旗舰店计划于12月31日开业，将进一步打造集展示、体验、服 务于一体的健康体验平台。目前，中国大健康产业规模持续扩大，居家健康消费细分领域需求增长显 著。 ...

Core Insights - The report highlights the significant growth in revenue and profitability for various companies in the technology and energy sectors, indicating a positive trend in their respective markets [6][23][15]. Industry Overview - The non-bank financial sector is experiencing a resurgence, with a focus on investment value as half-year reports are being released [5]. - The semiconductor and advanced packaging industries are seeing increased demand, driven by technological advancements and market expansion [8][11]. Company Analysis - **Stone Technology (688169.SH)**: The company reported a revenue of 7.903 billion, a year-on-year increase of 78.96%, but a decline in net profit by 39.55% [6]. - **Jiaocheng Ultrasonic (688392.SH)**: The company experienced a significant improvement in profitability, with a focus on scaling its advanced packaging business [8]. - **Green's Harmonics (688017.SH)**: The company achieved a revenue growth of 45.8% in the first half of 2025, driven by a recovery in the industrial robot market [15]. - **Hongyuan Co., Ltd. (920018.BJ)**: Recognized as a national champion in the electromagnetic wire industry, the company is leveraging its advantages in the ultra-high voltage sector [14]. - **JianTou Energy (000600.SZ)**: The company reported a substantial increase in net profit by 169.37% in the first half of 2025, attributed to effective cost management and stable power generation performance [23][24]. Financial Performance - **Stone Technology**: The company’s H1 revenue reached 7.903 billion, with a net profit of 678 million, reflecting a significant year-on-year revenue increase [6]. - **Jiaocheng Ultrasonic**: The company’s H1 gross margin was 44.56%, with a net margin of 8.57%, indicating improved profitability [8]. - **Green's Harmonics**: The company’s Q2 revenue grew by 69.5%, with a net profit increase of 101% [15]. - **JianTou Energy**: The company’s H1 revenue was 111.13 billion, with a net profit of 8.97 billion, showcasing strong financial health [23]. Investment Recommendations - The report suggests a "Buy-A" rating for companies like Stone Technology and Jiaocheng Ultrasonic, indicating strong future growth potential [8][11]. - JianTou Energy is also recommended for investment due to its robust financial performance and strategic project developments [23][26].

Core Viewpoint - The successful localization of pressure product manufacturing by the Cologne Group marks a significant milestone in enhancing competitiveness and meeting the evolving demands of the Chinese market [3][7]. Group 1: Localization Strategy - The first OPTIBAR PM 3050 pressure product was successfully produced in China on March 18, indicating a solid step towards local production and customer service [1]. - The production line for pressure products, previously managed by the German subsidiary KPS, has now been transferred to China, with KMTS responsible for production and delivery [3]. Group 2: Benefits of Localization - Quality remains unchanged as the localized pressure product series adheres to the strict quality standards set by the German headquarters, ensuring that each device meets international first-class levels [5]. - Cost control is improved through localization, allowing the company to offer more competitive pricing, which helps reduce procurement costs for customers and enhances overall project economic efficiency [5]. - Shorter delivery times are achieved due to the production base being located in Shanghai, facilitating a more efficient logistics and supply chain, thus enabling rapid response to customer demands [5]. Group 3: Commitment to the Chinese Market - The successful localization of pressure products is not only a key milestone for the Cologne Group's development in China but also reflects the company's long-term commitment to the Chinese market [7]. - The company plans to continue promoting the localization of more pressure products and enhancing service levels to contribute to the prosperous development of the Chinese process industry [7]. Group 4: Company Overview - The Cologne Group is a leading global provider of industrial process measurement solutions, dedicated to delivering high-quality products and services to customers [8]. - Through continuous innovation and localization strategies, the company aims to create value for global customers [8].