Group 1: Financial Performance - In the first half of 2025, the company achieved operating revenue of 1.009 billion CNY, a year-on-year increase of 27.77%, marking a historical high for the same period [3] - The company turned a profit compared to previous losses, indicating a continuous improvement in profitability [3] Group 2: Business Growth Drivers - Rapid growth in IO high-speed communication connectors, particularly in OSFP 112G, OSFP-XD 224G, and OverPass 224G series products, with significant sales increases [3] - Expansion into AI computing chip liquid cooling components, contributing to revenue growth from new product lines [4] - Successful entry into emerging markets such as AI smart terminals and drones, with stable order growth in FPC products [4] Group 3: Liquid Cooling Business Development - The liquid cooling business began in late 2022, initially focusing on IGBT heat dissipation, and has since expanded into AI computing server cooling solutions [5] - The company leverages its existing capabilities in mold design and precision processing to enhance its competitive edge in the liquid cooling market [6] - The trend towards liquid cooling in IO connectors is driven by increasing power and thermal density in AI computing, making it a necessary evolution for the industry [7] Group 4: Future Outlook and Market Expansion - The company is exploring high-growth areas such as embodied robotics and AI smart glasses, aiming to reduce low-margin products while enhancing profitability [8] - Plans to expand FPC applications into OLED displays and automotive sectors, which have significant market potential [8] Group 5: Competitive Advantages - The company possesses comprehensive R&D and manufacturing capabilities across the entire supply chain of precision electronic components, enabling it to provide integrated solutions to leading industry clients [9] - Strong collaboration across various business segments enhances technological and market development, allowing the company to meet diverse customer needs effectively [9]