Core Viewpoint - Lens Technology (300433.SZ) reported a revenue of 32.96 billion yuan for the first half of 2025, marking a year-on-year increase of 14.18% and a net profit of 1.194 billion yuan, up from 881 million yuan in the same period last year [1][2]. Financial Performance - The company's revenue for the first half of 2025 was 32,960,157,729.20 yuan, compared to 28,866,648,854.29 yuan in the previous year, reflecting a growth of 14.18% [2]. - Net profit attributable to shareholders was 1,142,689,297.22 yuan, an increase of 32.68% from 861,261,932.20 yuan in the prior year [2]. - The net profit after deducting non-recurring gains and losses was 940,082,395.82 yuan, which is a 41.85% increase from 662,753,220.37 yuan year-on-year [2]. - The net cash flow from operating activities reached 4,325,275,724.15 yuan, up 28.43% from 3,367,717,990.78 yuan in the previous year [2]. Profitability Metrics - The gross profit margin for the first half of 2025 was 14.22%, showing a slight decline of 0.11 percentage points compared to the previous year [3]. - The ratio of net cash flow from operating activities to net profit for the last three half-year reports was 7.73, 3.82, and 3.62, indicating a continuous decline [2]. Segment Performance - Revenue from smartphones and electronic devices was 27,184,820,763 yuan, a growth of 13.18% year-on-year, with a gross margin of 13.18%, down 0.56% [5]. - Revenue from smart automotive and seating products was 3,164,660,482 yuan, reflecting a growth of 9.84% with a gross margin of 9.84%, an increase of 0.13% [5]. - Revenue from smart headsets and wearable devices was 1,646,553,193 yuan, up 23.27% year-on-year, with a gross margin of 23.27%, an increase of 9.70% [5]. - Other smart terminal revenue was 363,605,784.28 yuan, showing an increase of 8.15% with a gross margin decline of 14.80% [5]. - Other business income rose significantly by 63.35% to 600,517,504.96 yuan, with a gross margin decrease of 0.43% [5]. Capital Raising - On July 9, 2025, Lens Technology was listed on the Hong Kong Stock Exchange, issuing 262,256,800 shares at a final price of 18.18 HKD, raising a total of 4,767.83 million HKD, with a net amount of 4,693.69 million HKD after expenses [5].