金九银十，消费电子旺季即将来临，A股相关公司股价开始异动。 作为消费电子龙头，歌尔股份的市值于近日重回千亿，这距离它前次登顶千亿已过去几乎有 半年之久。 记者丨张赛男 编辑丨朱益民 对于2025上半年的全球消费电子行业，歌尔股份给出的定调是"继续温和复苏"，这一表态尽 显谨慎、克制。 诚然，从消费电子中最大品类智能手机业务来看，表现平平，全球出货量只是微增，国内更 是出现同比下滑，市场也的确需要一个燃点。 随着9月消费电子传统旺季将至，加上半年报的催化，消费电子板块相应爆发。 自6月以来，Wind消费电子产业指数开始温和上涨，进入8月上涨加速，本周累计涨幅达 7.74％。 回看歌尔股份的业绩表现，一季度增利不增收的歌尔，终于在第二季度扭转了营收向下的趋 势。尽管上半年营收还在下滑，但较第一季度降幅收窄。 据半年报披露，公司上半年智能声学整机业务实现营收83.24亿元，同比减少34.9%，占营收 比重22.17%；毛利率为9.93%，同比略增0.1个百分点。 据悉，公司的智能声学整机业务聚焦于与声学、语音交互、人工智能等技术相关的产品方 向，主要产品包括智能无线耳机、智能音箱等。前几年公司陷入大客户砍单风波，涉 ...

科技研发、成果转化和科技成果产业化，离不开覆盖企业全生命周期的持续性金融服务支持。山东中行 不断优化组织机制，强化部门联动，构建全层级科技金融组织架构，在科技资源集聚区域打造科技金融 特色网点，完善专属审批及考核机制，解决科技型企业"识别难、准入难"等共性问题。 了解到"中科智能制造产业园设备更新改造项目"因自有资金不足迟迟无法开工建设的情况后，枣庄中行 对项目建设及未来运营等情况进行综合评估，为企业量身定制了从项目设计、建设到投产、运营的一整 套融资方案，并借助行内为设备更新贷款开辟的绿色通道，顺利为企业批复10年期贷款1.2亿元，助力 该项目在2024年当年投建、产线当年竣工、产值当年突破13亿元。通过引进两条意大利萨瓦尼尼钣金柔 性自动化生产线、智能开关柜生产线及工业4.0技术等，中科智能（山东）有限公司现已建成"无人车 间""黑灯工厂"，成为枣庄最大的输配电设备生产企业。 服务创新，丰富新质生产力金融场景 山东中行深化金融改革，深度挖掘区域特色产业金融需求，密切关注新产业、新模式、新动能的发展趋 势，积极创新多种金融服务方案，丰富新质生产力金融发展场景。 潍坊某高分子科技股份有限公司深耕高分子材料15 ...

Core Viewpoint - The consumer electronics sector is entering a peak season, leading to stock price movements for related companies, particularly for Goer Technology, which has recently regained a market capitalization of over 100 billion yuan [1][2]. Group 1: Company Performance - Goer Technology reported a revenue of 37.549 billion yuan for the first half of 2025, a year-on-year decrease of 7.02%, while net profit attributable to shareholders was 1.417 billion yuan, an increase of 15.65% [8]. - In the second quarter, Goer Technology reversed the revenue decline, achieving 21.24 billion yuan in revenue, a year-on-year growth of 0.83%, and a net profit of 948 million yuan, up 12.12% [8]. - The decline in revenue was primarily due to the smart acoustic assembly business, which saw a revenue drop of 34.9% year-on-year, accounting for 22.17% of total revenue [8][10]. Group 2: Market Trends - The global true wireless stereo (TWS) earphone market showed a strong rebound in Q1 2025, with shipments increasing by 18% year-on-year, reaching 78 million units, the highest growth rate since 2021 [9]. - Predictions indicate that global TWS shipments will reach 500 million units by 2025, suggesting potential recovery for Goer Technology's smart acoustic assembly business in the latter half of the year [10]. Group 3: Business Segments - The smart hardware segment, which includes AI smart glasses and wearables, generated 20.34 billion yuan in revenue, a year-on-year increase of 23.49%, making it the largest revenue source for Goer Technology [11]. - The precision components business also grew, with revenue of 7.604 billion yuan, up 20.54% year-on-year, and accounting for 20.25% of total revenue [11]. Group 4: Strategic Focus - Goer Technology is shifting its focus from VR to AI and AR technologies, emphasizing the development of AI smart glasses and related products as key growth areas [12][16]. - The company has made strategic acquisitions to enhance its capabilities in AI and smart hardware, including a recent acquisition of a precision metal structure company and a loan to support the acquisition of a Micro-LED display manufacturer [17][18]. Group 5: Future Outlook - Goer Technology's management expressed optimism about the market potential for AI smart glasses, highlighting their unique advantages in user data collection and human-computer interaction [19]. - The company is actively pursuing opportunities in the AI smart glasses market, aiming to leverage its technological advancements and partnerships with leading industry players [19][20].

Core Viewpoint - The company reported a revenue of 37.549 billion yuan and a net profit attributable to shareholders of 1.417 billion yuan, reflecting a year-on-year growth of 15.65% [1] Financial Performance - The company achieved an operating income of 37.549 billion yuan during the reporting period [1] - The net profit attributable to shareholders reached 1.417 billion yuan, marking a 15.65% increase compared to the previous year [1] Strategic Initiatives - The management is adapting to complex domestic and international macroeconomic conditions and industry trends [1] - The company is focusing on strategic innovation and transformation while consolidating its core competitive advantages in traditional business areas [1] Market Opportunities - The company is seizing opportunities in emerging sectors such as smart hardware, AI technology, and the metaverse within the technology and consumer electronics industries [1] - The company is expanding its business in smart wireless headphones, VR, MR, AR, AI smart glasses, smart wearables, smart gaming consoles, smart home devices, and AR HUDs [1]

Core Viewpoint - The company plans to acquire 100% equity of Mega Precision Technology Limited and Channel Well Industrial Limited for approximately HKD 10.4 billion (around RMB 9.5 billion), aiming to enhance its vertical integration and competitiveness in the precision structural components sector [2][3][4]. Group 1: Acquisition Details - The acquisition is intended to secure high-quality assets and improve the company's vertical integration capabilities, which will enhance its competitiveness in the precision structural components market [3][4]. - The target companies, Mega Precision and Channel Well, are recognized for their leading position in the precision metal structural components industry, with strong technical capabilities in material processing and surface treatment [4][5]. - The combined projected revenue for the two target companies in 2024 is approximately HKD 9.11 billion (unaudited) [5]. Group 2: Company Overview - The company, established in 2001 and listed in 2008, focuses on consumer electronics and automotive electronics, offering precision components and smart hardware products [6]. - Key products include acoustic, optical, microelectronics, and structural components, serving leading clients in the global technology and consumer electronics sectors [6]. Group 3: Financial Performance - In 2024, the company reported revenue of RMB 100.95 billion, a year-on-year increase of 2.41%, and a net profit of RMB 2.665 billion, up 144.93% [7]. - For Q1 2025, the company achieved revenue of RMB 16.305 billion, a year-on-year decrease of 15.57%, while net profit rose by 23.53% to RMB 469 million [7]. - The market has maintained a high valuation for the company due to its extensive applications in AI and VR, with positive growth expected in its precision components and smart hardware segments [7]. Group 4: Market Outlook - Analysts are optimistic about the company's long-term growth, citing the recovery in industry demand and the successful progress of its precision components and smart hardware businesses [7]. - The company's strong market position in XR manufacturing and the recovery of its major clients' headphone businesses are expected to contribute to revenue and performance growth [7]. Group 5: Stock Information - As of July 22, the company's stock price was RMB 23.81 per share, with a market capitalization of RMB 83.1 billion [8].