Investment Rating - The report maintains a "Buy" rating for the company, expecting a relative increase in stock price of over 20% compared to the benchmark index within the next six months [4][14]. Core Insights - The company experienced a significant increase in orders, indicating potential for a second growth curve in its components business. The revenue from signed contracts yet to be fulfilled reached 1.75 billion yuan, a 478% increase from the end of 2024 [7][4]. - Despite a decrease in overall revenue and net profit in the first half of 2025, the second quarter showed signs of improvement with a 9% quarter-on-quarter revenue growth [5][6]. - The company is expected to see a gradual recovery in net profit over the next three years, with projections of 302 million yuan, 365 million yuan, and 436 million yuan for 2025, 2026, and 2027 respectively [4][10]. Financial Overview - As of the latest report, the company has a total market capitalization of 12.2 billion yuan and a circulating market capitalization of 9 billion yuan. The latest closing price is 30.73 yuan, with a price-to-earnings ratio of 45.19 [3][4]. - The company reported a total revenue of 599 million yuan in the first half of 2025, a decrease of 18% year-on-year, with a net profit of 93 million yuan, down 51% year-on-year [4][5]. - The gross profit margin for the first half of 2025 was 27.92%, a decrease of 10.42 percentage points compared to the previous year, with various product lines experiencing different levels of margin changes [6].