Core Insights - The company reported a revenue of 597 million yuan for the first half of 2025, representing a year-on-year increase of 10% [1] - The net loss attributable to shareholders was 14 million yuan, a reduction in loss by 46% year-on-year [1] - The gross margin was 34.81%, down by 4 percentage points year-on-year, while the net margin improved to -2.39%, narrowing by 2 percentage points year-on-year [1] Business Segment Performance - **Visual Measurement Equipment**: Revenue reached 226 million yuan, up 73% year-on-year, with a gross margin of 48.74%, down 7 percentage points [2] - **Visual Inspection Equipment**: Revenue fell to 65 million yuan, down 71% year-on-year, with a gross margin of 30%, down 9 percentage points, primarily due to the ongoing downturn in the photovoltaic sector [2] - **Visual Process Equipment**: Revenue was 241 million yuan, an increase of 52% year-on-year, with a gross margin of 24.55%, down 6 percentage points [2] - **Intelligent Connected Solutions**: Revenue was 65 million yuan, up 124% year-on-year, with a gross margin of 29.19%, an increase of 19 percentage points [3] Future Outlook - The company is projected to achieve revenues of 1.897 billion yuan, 2.249 billion yuan, and 2.426 billion yuan for the years 2025 to 2027, with net profits of 164 million yuan, 218 million yuan, and 253 million yuan respectively [3] - The company is expected to benefit from significant domestic replacement opportunities in PCB and wafer inspection equipment, as well as advancements in intelligent driving control and humanoid robot brain products [3]