Core Viewpoint - Longbo Technology (603655.SH) reported significant growth in its performance for the first half of 2025, with a net profit of 19.284 million yuan, representing a year-on-year increase of 60.18% [1][3]. Financial Performance - In the first half of 2025, Longbo Technology's revenue reached 122 million yuan, up 18.03% year-on-year, while the net profit was 19.284 million yuan, reflecting a 60.18% increase [3][4]. - The company has maintained continuous growth in net profit and non-recurring net profit over the past two and a half years, with significant increases in 2023 and 2024 [3][4]. Dividend Policy - Longbo Technology proposed a cash dividend of 0.90 yuan per 10 shares (including tax) for the first half of 2025, resulting in a mid-term dividend payout ratio of 49.03% [1][4]. - In 2024, the company distributed a total of 15.7575 million yuan in cash dividends, achieving a cash dividend ratio of 56.43% [4]. Business Expansion and R&D - The growth in Longbo Technology's performance is attributed to the expansion of its main business and the continuous increase in orders from clients in the new energy sector [1][3]. - The company has been increasing its R&D investment, with R&D expenses accounting for approximately 4% of total revenue, and has developed new products to enhance market share [5][6]. Operational Efficiency - Longbo Technology improved its cost control and operational efficiency, with gross margin rising from 35.11% to 38.54% and net margin increasing from 11.66% to 15.83% in the first half of 2025 [4]. - The company has invested in automation and optimized production processes, contributing to enhanced production efficiency [4][6]. Strategic Adjustments - In the first half of 2025, Longbo Technology changed its fundraising project, reallocating 82.2 million yuan of uninvested funds towards new projects in "automotive rubber functional components for new energy vehicles" and "intelligent warehousing" [1][7]. - This strategic adjustment aims to enhance the company's competitiveness in the new energy vehicle sector and improve overall operational efficiency [7].