M Update 2Q25 In Line; Liquid Cooling the New Driver Reaction to earnings August 28, 2025 09:59 PM GMT Ningbo Tuopu Group Co Ltd | Asia Pacific Unchanged In-line Modest revision lower Impact to our thesis Financial results versus consensus Direction of next 12-month consensus EPS Source: Company data, Morgan Stanley Research Tuopu's 2Q25 earnings fell 10% YoY but recovered 29% QoQ to Rmb729mn, in line with reduced market expectations. 2Q revenue grew 10% YoY and 24% QoQ, likely helped by Aito and Geely volu ...