Core Viewpoint - New Qianglian (300850.SZ) has significantly improved its performance in the first half of 2025, reporting a revenue of 2.21 billion yuan, a year-on-year increase of 108.98%, and a net profit of 400 million yuan, recovering from a loss of 101 million yuan in the same period last year [1][4]. Financial Performance - In the first half of 2025, New Qianglian achieved a revenue of 2.21 billion yuan, up 108.98% year-on-year [1][4]. - The net profit for the same period was 400 million yuan, compared to a loss of 101 million yuan in the previous year [1][4]. - The company's non-recurring net profit reached 335 million yuan, a staggering increase of 2200.56% compared to 14.57 million yuan in the previous year [1][4]. Product and Market Development - The revenue from wind power products in the first half of 2025 was 1.676 billion yuan, reflecting a year-on-year growth of 135.53%, with a gross margin of 30.5% [4]. - New Qianglian's product portfolio includes wind power bearings, shield machine bearings, offshore equipment bearings, and construction machinery bearings, positioning the company to expand its market share and enhance competitive advantages [4]. Research and Development - In the first half of 2025, the R&D expenses amounted to 84.83 million yuan, an increase of 75.96% year-on-year [1][6]. - The company holds a total of 148 patents, including 31 invention patents, showcasing its strong capabilities in technology research and innovation [6]. - New Qianglian's self-developed 14-meter diameter ultra-large shield machine spindle bearing has filled a domestic gap and reached an advanced level compared to international counterparts [6].