Core Viewpoint - Guangzhou Guanghe Technology Co., Ltd. reported a significant increase in revenue and net profit for the first half of 2025, driven by strong demand in the computing power supply chain and advancements in technology [3][14]. Financial Performance - The company's operating revenue reached approximately 2.42 billion yuan, a year-on-year increase of 42.17% compared to 1.71 billion yuan in the same period last year [3][14]. - The net profit attributable to shareholders was approximately 477.55 million yuan, up 47.78% from 323.15 million yuan in the previous year [3][14]. - Basic earnings per share increased to 1.1610 yuan, reflecting a 46.17% growth from 0.7943 yuan [3][14]. - The total assets at the end of the reporting period were approximately 6.27 billion yuan, a 10.35% increase from the previous year [3][14]. Industry Overview - The PCB (Printed Circuit Board) industry is crucial for electronic products, serving as a key electronic interconnection component [5][6]. - The global PCB market is projected to reach approximately 79.13 billion USD in 2025, with significant growth driven by advancements in AI and other technologies [6][7]. - The demand for high-layer, high-precision, and high-density PCB products is expected to continue growing, particularly in sectors such as data centers, AI, IoT, and automotive electronics [6][7]. Business Operations - The company focuses on the R&D, production, and sales of high-layer printed circuit boards, primarily targeting the mid-to-high-end application market [8][9]. - The main application area for the company's PCB products is in servers, accounting for about 70% of its revenue, particularly in high-performance computing and AI server markets [8][9]. - The company has established a comprehensive R&D system and has been recognized as a national high-tech enterprise, with several products awarded as high-quality technology products in Guangdong Province [9][19]. Strategic Development - The company aims to expand its international business through targeted customer cooperation and localized operations, enhancing its global market position [16]. - The operational strategy includes expanding high-value-added product offerings and improving smart manufacturing capabilities to capture market opportunities [16]. - The company emphasizes sustainable development, integrating environmental considerations into its operational strategy and achieving recognition as a green factory [24].