Core Viewpoint - The company, Zecheng Electronics, reported a significant increase in revenue and net profit for the first half of 2025, driven by growth in smart lock orders and new AI glasses clients [1][3]. Financial Performance - In the first half of 2025, the company achieved revenue of 213 million yuan, a year-on-year increase of 27.34% [1] - The net profit attributable to shareholders was 11.46 million yuan, up 11.52% year-on-year [1] - The second quarter saw revenue of 118 million yuan, a 27.87% increase year-on-year, with net profit of 6.81 million yuan, growing 1.75% [1] Business Development - The growth in operating performance is attributed to a steady increase in smart lock customer orders and successful mass production of AI glasses [1][3] - The company has made breakthroughs in domestic market development, with domestic revenue reaching 31.54 million yuan, an 80.08% increase [3] - International revenue was 181.51 million yuan, reflecting a 21.17% growth [3] Product Innovation - AI glasses have become a key product area, with batch order deliveries contributing to revenue growth [3] - The company is actively expanding its client base, including notable clients like RayNeo, and plans to enter other smart wearable product markets [3] R&D Investment - R&D expenses for the first half of 2025 amounted to 12.15 million yuan, a 4.93% increase [4] - The company has developed capabilities for high-precision circuit board production and is researching various PCB applications [4] - As of the end of the reporting period, the company held 121 patents, including 22 invention patents [4] Future Outlook - The company anticipates significant growth in the AI smart wearable device market, leveraging the advantages of flexible printed circuit (FPC) modules [4] - Continued investment in R&D for AI smart wearable devices and FPC production is planned [4]