Investment Rating - The investment rating for the company is "Buy" and is maintained [7]. Core Views - The company reported a revenue of 2.017 billion yuan for the first half of 2025, an increase of 8.88% year-on-year, while the net profit attributable to shareholders decreased by 10.20% to 94 million yuan [5][10]. - The company's OPEX business revenue share increased to 37.3% in H1 2025 from 31.0% in 2024, indicating significant growth in this segment [10]. - The company is actively pursuing external acquisitions to enhance its core component business, including a recent acquisition of 62.23% of Liaoning Hanjing Semiconductor Materials Co., which specializes in high-precision quartz and advanced ceramic materials [10]. Financial Performance Summary - In H1 2025, the company achieved a gross margin of 23.71%, down 3.2 percentage points year-on-year, while the gross margin for Q2 2025 was 22.35%, a decrease of 4.3 percentage points [5][10]. - The company expects to achieve revenues of 6.99 billion yuan, 8.78 billion yuan, and 10.85 billion yuan for 2025, 2026, and 2027 respectively, with net profits projected at 700 million yuan, 930 million yuan, and 1.15 billion yuan for the same years [10].