Core Viewpoint - The report from Zhongyin Securities highlights Jiangfeng Electronics' strong performance in the first half of the year, with a significant year-on-year profit increase, while also noting a decline in the second quarter's profit [1] Financial Performance - Jiangfeng Electronics reported a net profit attributable to shareholders of 253 million yuan in the first half of the year, representing a year-on-year increase of 56.79% [1] - In the second quarter, the net profit was 95 million yuan, showing a year-on-year decrease of 5.96% and a quarter-on-quarter decrease of 39.30% [1] - The company's revenue for the first half of 2025 grew by 28.71% to 2.095 billion yuan, with the second quarter revenue reaching 1.094 billion yuan, up 27.97% year-on-year and 9.37% quarter-on-quarter [1] Business Segments - The ultra-pure metal sputtering target business achieved steady revenue growth in the first half of 2025, generating sales of 1.325 billion yuan, which is a year-on-year increase of 23.91% [1] - The gross margin for this segment was 33.26%, reflecting a year-on-year increase of 2.93 percentage points [1] - The precision components business is expected to continue growing in revenue and profitability due to the ramp-up of production capacity and collaboration with customers on new product development [1] Strategic Outlook - The company aims to leverage its technological and manufacturing advantages in the target and component sectors to address the domestic semiconductor industry's critical component shortages [1] - The stock issuance plan is pending review by the exchange and approval from the China Securities Regulatory Commission [1]