Core Insights - In the first half of 2025, the company reported a revenue of 2.493 billion yuan, representing a year-on-year growth of 11.29%, and a net profit attributable to shareholders of 142 million yuan, up 55.59% year-on-year [1] Segment Summaries Bus Thermal Management - The company sold over 20,000 bus air conditioning systems in the first half of the year, achieving a year-on-year growth of 23% [1] - The company is focusing on advanced product development for overseas markets, including CO2 heat pump air conditioning and high-efficiency heat pumps [1] Passenger Vehicle Thermal Management - The passenger vehicle division secured new orders exceeding 2.8 billion yuan in the first half of the year [1] - Key projects are progressing to the SOP stage, including collaborations with major clients like Huawei and BYD [1] Refrigeration and Freezing Units - The company sold over 3,300 refrigeration units, steadily increasing its market share in the domestic market [2] Automotive Air Conditioning Compressors - The company sold over 39,100 electric compressors, marking a year-on-year growth of over 60% [2] - New projects were secured with major clients such as FAW Liberation and Dongfeng Liuzhou [2] Battery Thermal Management - The battery thermal management segment sold over 7,500 systems, reflecting a 51% increase year-on-year [2] - The company is optimizing product and customer layouts to enhance order quality [2] Automotive Electronics - The automotive electronics segment sold over 670,000 electronic throttles and over 420,000 various fan products in the first half of the year [3]