Group 1: Financial Performance - In H1 2025, the company achieved revenue of 101.28 billion yuan, a year-on-year increase of 8.5% [1] - The net profit attributable to shareholders was 3.25 billion yuan, up 42.2% year-on-year, with a non-recurring net profit of 2.28 billion yuan, increasing by 41.5% [1] - In Q2 2025, the company reported revenue of 50.68 billion yuan, a 6.7% increase year-on-year, and a net profit of 1.63 billion yuan, up 25.6% [1] - The gross margin and net margin for H1 2025 were 14.4% and 2.99%, respectively, with the net margin increasing by 1.09 percentage points year-on-year [1] Group 2: Business Expansion and Innovation - The company is actively expanding into emerging markets, with IoT innovation, sensor business, MLED, and smart medical engineering showing revenue growth of 6%, 36.8%, 7.8%, and 1.5%, respectively [2] - The smart terminal business is accelerating overseas expansion, with the Vietnam smart terminal phase II project entering mass production ahead of schedule [2] - The MLED direct display business has established multiple benchmark projects with Shanghai Film Group [2] - The sensor business is advancing with the construction of advanced packaging test lines and achieving mass production of multiple sensor products [2] - The digital hospital segment is improving core capabilities, with steady growth in total outpatient and discharge volumes [2] Group 3: Technological Innovation and Strategy - The company continues to strengthen its high-quality patent portfolio, with over 4,000 new patent applications in H1 2025, of which over 90% are invention patents [3] - The company has launched a 16-inch 3D education all-in-one machine, winning the DIC AWARD 2025 for display application innovation [3] - The company is advancing semiconductor display technology, IoT innovation technology, and sensor technology, building a comprehensive "screen IoT" technology architecture [3] - The company forecasts net profits attributable to shareholders of 8.57 billion, 11.19 billion, and 12.92 billion yuan for 2025-2027, with corresponding PE ratios of 18, 14, and 12 times [3]