Core Viewpoint - Dahu Technology (603025) reported strong financial performance for the first half of 2025, with significant increases in revenue and net profit compared to the previous year [1] Financial Performance - Total revenue reached 1.483 billion yuan, a year-on-year increase of 13.31% [1] - Net profit attributable to shareholders was 399 million yuan, up 24.05% year-on-year [1] - In Q2 2025, total revenue was 758 million yuan, reflecting a 13.77% increase year-on-year, while net profit for the quarter was 230 million yuan, up 33.13% [1] - Gross margin improved to 43.4%, an increase of 3.14% year-on-year, and net margin rose to 28.54%, up 8.09% [1] Cost and Expenses - Total selling, administrative, and financial expenses amounted to 105 million yuan, accounting for 7.05% of revenue, with a slight increase of 0.02% year-on-year [1] - Operating cash flow per share increased significantly by 86.1% to 0.17 yuan [1] Balance Sheet Highlights - Cash and cash equivalents decreased by 20.46% to 1.946 billion yuan [3] - Accounts receivable increased by 14.75% to 926 million yuan, attributed to higher sales [3] - Interest-bearing debt decreased by 23.43% to 581 million yuan [3] Investment and Returns - The company's return on invested capital (ROIC) was 19.32%, indicating strong capital returns [4] - The historical median ROIC since listing is 19.47%, demonstrating consistent investment returns [4] Fund Holdings - The largest fund holding Dahu Technology is the GF Baifa 100 Index A, with 200,100 shares newly entering the top ten holdings [5] - The fund has a current scale of 90 million yuan and has seen a 49.85% increase over the past year [5]

Core Viewpoint - Dahao Technology (603025) reported strong growth in its 2025 semi-annual results, with revenue reaching 1.483 billion yuan, a year-on-year increase of 13.31%, and net profit attributable to shareholders of 399 million yuan, up 24.05% [1] Financial Performance - Revenue for the first half of the year was 1.483 billion yuan, reflecting a 13.31% increase year-on-year [1] - Net profit attributable to shareholders was 399 million yuan, representing a 24.05% year-on-year growth [1] - Basic earnings per share stood at 0.36 yuan [1] Business Segments - The intelligent equipment control business generated 1.218 billion yuan in revenue, an 8.17% increase year-on-year [1] - The network security business emerged as a new growth highlight, achieving 153 million yuan in revenue, a significant increase of 60.41% year-on-year [1] - The smart factory business reported revenue of 92.22 million yuan, growing by 43.16% year-on-year [2] Strategic Developments - Dahao Technology focuses on the information technology sector, including intelligent equipment control systems, smart factory cloud platforms, and network security hardware [1] - The company aims to deepen its diversified strategic layout, concentrating on three core areas: intelligent equipment control, smart factories, and network security [3] Shareholder Returns - In May, Dahao Technology completed a cash dividend distribution of 0.35 yuan per share (before tax), totaling 388 million yuan [2] - The controlling shareholder, Yiqing Holdings, plans to increase its stake by no less than 50 million yuan and no more than 100 million yuan [2]