Investment Rating - The report maintains a "Buy" rating for the company [1] Core Insights - The company reported a revenue of 330 million yuan for H1 2025, representing a year-over-year growth of 16.26%, while the net profit was 50.47 million yuan, growing by 7.81% year-over-year. The revenue growth outpaced profit growth due to increased focus on the domestic market, which has a lower gross margin [4][7] - The company is diversifying its operations into advanced fields such as liquid cooling and robotics, aiming to establish itself as a platform company for ultrasonic sensors rather than just an automotive parts manufacturer [7] Financial Data and Profit Forecast - Total revenue projections for the company are as follows: - 2024: 617 million yuan - 2025E: 748 million yuan - 2026E: 896 million yuan - 2027E: 1,043 million yuan - The expected net profit for the years is: - 2025E: 104 million yuan - 2026E: 123 million yuan - 2027E: 144 million yuan - The gross margin is projected to improve from 35.4% in H1 2025 to 37.3% by 2027 [6][9]