Investment Rating - The report maintains a "Buy" rating for Jinlei Co., Ltd. (300443) [6] Core Insights - The company's Q2 performance exceeded market expectations, with a significant increase in revenue and profit [6] - The wind power business is experiencing a high growth cycle, contributing to rapid development in the free forging segment [6] - The casting business has seen a substantial recovery, turning profitable due to increased demand and improved pricing [6] - Profit forecasts for 2025-2027 have been raised, reflecting enhanced profitability in wind power casting products [6] Financial Data and Earnings Forecast - Total revenue for H1 2025 reached 1.283 billion yuan, a year-on-year increase of 79.9% [6] - Net profit attributable to the parent company for H1 2025 was 188 million yuan, up 153.3% year-on-year [6] - The gross margin for H1 2025 was 23.5%, an increase of 2.5 percentage points year-on-year [6] - The company expects total revenue of 2.792 billion yuan for 2025, with a projected net profit of 498 million yuan [5][6] - Earnings per share (EPS) are forecasted to be 1.56 yuan for 2025, increasing to 2.53 yuan by 2027 [5][6]