Core Viewpoint - The acoustic leader GoerTek (002241.SZ) is experiencing a recovery in performance, with a notable increase in net profit despite a decrease in revenue for the first half of 2025 [1][2]. Financial Performance - For the first half of 2025, GoerTek reported revenue of 37.549 billion yuan, a year-on-year decrease of 7.02%, while net profit attributable to shareholders was 1.417 billion yuan, reflecting a year-on-year increase of 15.65% [2][4]. - The company's net profit has shown continuous growth for seven consecutive quarters since Q4 2023 [3]. Market Trends - The global consumer electronics industry is undergoing a new wave of innovation, driven by the rapid development of AI technology, which is expected to boost demand for products like AI smart glasses and AR devices [2][4]. - Domestic revenue for GoerTek increased significantly, with a 60.95% year-on-year growth to 5.488 billion yuan, while overseas revenue decreased by 13.28% to 32.061 billion yuan [2]. Business Segments - The precision components business achieved revenue of 7.604 billion yuan, a year-on-year increase of 20.54%, and its share of total revenue rose from 15.62% to 20.25% [4]. - The smart hardware segment generated revenue of 20.341 billion yuan, a year-on-year increase of 2.49%, with its share of total revenue increasing from 49.15% to 54.17% [4]. Profitability - The overall gross margin for GoerTek improved to 13.47%, a year-on-year increase of 1.96 percentage points, marking the highest level in nearly four years [4]. Strategic Developments - GoerTek announced a planned equity transaction involving its subsidiary GoerTek Optics, which aims to acquire 100% of Shanghai Aolai's shares, enhancing its competitive edge in AR display solutions [5].