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Core Viewpoint - The company reported a steady growth in revenue and net profit for the first half of 2025, despite facing challenges in the domestic and global economic environment [1][2]. Financial Performance - Revenue for the first half of 2025 reached 1.023 billion yuan, a year-on-year increase of 10% [1] - Net profit amounted to 303 million yuan, reflecting a year-on-year growth of 11.34% [1] - The net cash flow from operating activities significantly increased to 393 million yuan, up 125% year-on-year [1] - The overall product gross margin improved by 1.26 percentage points compared to the previous year [1] Business Segments - The color sorting machine business maintained a strong market demand, particularly in the recycling resources sector, which experienced rapid growth [1][2] - The medical segment faced challenges due to a sluggish oral industry and intense market competition, but it has begun to recover from significant revenue declines seen in 2024 [1][2] Market Dynamics - Export revenue growth slowed due to tariffs and trade fluctuations, but there remains significant market potential in developing countries for color sorting machines [3] - The company is actively expanding its overseas marketing efforts and aims to stabilize export growth in the future [3][5] Technological Advancements - The company launched the new AI-powered color sorting machine, Meiya Master 4.0, and an integrated intelligent diagnosis system for oral CT, enhancing its product offerings [4] - The integration of AI technology into products and services is a key focus for future development [4] Future Outlook - The company remains optimistic about the future of the oral industry, despite current challenges, and is increasing investments in digital transformation and market strategies [2][4] - The company plans to continue its stable dividend policy, reflecting its solid cash flow and profitability [5]

Financial Performance - The company achieved a revenue of 1.023 billion yuan in the first half of 2025, representing a year-on-year growth of 10% [3] - Net profit reached 303 million yuan, with an increase of 11.34% compared to the previous year [3] - Operating cash flow net amount was 393 million yuan, a significant increase of 125% year-on-year [3] - The overall gross profit margin improved by 1.26 percentage points compared to the previous year [3] Business Segments - The color sorting machine business maintained a strong market performance, particularly in the recycling resource sector, which showed rapid growth [3][4] - The medical segment faced challenges due to a sluggish dental industry and intense market competition, but it has started to recover from a significant revenue decline since 2024 [3][5] Market Dynamics - Export growth slowed due to trade friction and tariff impacts, but there remains significant market potential in developing countries for color sorting machines [6] - The company has registered products in over 50 countries and regions, with good export performance in medical products in the first half of 2025 [13] Innovation and Technology - The company launched the AI-powered color sorting machine "Meiya Master 4.0," enhancing production line decision-making capabilities [9] - In the medical field, the company introduced the "Meiya Imaging" system, integrating hardware, software, and ecosystem for intelligent dental diagnosis [10] Future Outlook - The company anticipates continued growth in the dental industry, supported by demographic trends and ongoing investments in digitalization and marketing [5][11] - Contract liabilities as of June 30 reached 105 million yuan, a 117% increase from the beginning of the year, indicating a potential increase in order volume [8] - The company plans to maintain its profit distribution policy, ensuring returns to investors while managing capital expenditures prudently [14]