华安智能装备主题股票A（001072）成立日期2015年4月24日，最新规模8.51亿。今年以来收益 23.93%，同类排名1301/4222；近一年收益62.82%，同类排名1016/3795；成立以来收益194.98%。 9月5日，虹软科技涨5.18%，截至发稿，报58.48元/股，成交5.61亿元，换手率2.48%，总市值234.60亿 元。 资料显示，虹软科技股份有限公司位于浙江省杭州市滨江区长河街道滨兴路392号(虹软大厦)，成立日 期2003年2月25日，上市日期2019年7月22日，公司主营业务涉及视觉人工智能技术的研发和应用,为智 能手机、智能汽车、物联网(IoT)等智能设备提供一站式视觉人工智能解决方案。主营业务收入构成 为：移动智能终端视觉解决方案82.69%，智能汽车及其他AIoT智能设备视觉解决方案15.76%，其他 1.55%。 从基金十大重仓股角度 数据显示，华安基金旗下1只基金重仓虹软科技。华安智能装备主题股票A（001072）二季度持有股数 55.21万股，占基金净值比例为2.85%，位居第十大重仓股。根据测算，今日浮盈赚取约159万元。 风险提示：市场有风险，投资需谨慎。本文 ...

Investment Rating - The report maintains a "Buy" rating for the company [4] Core Views - The company's revenue for the first half of 2025 reached 410 million yuan, a year-on-year increase of 7.73%, with a net profit attributable to shareholders of 88.54 million yuan, up 44.06% year-on-year [1] - The mobile intelligent terminal visual solutions generated revenue of 339.32 million yuan, reflecting a growth of 2.23% year-on-year, with fluctuations attributed to project acceptance delays [2] - The smart automotive business showed strong growth, with revenue of 64.65 million yuan, a year-on-year increase of 49.09%, supported by successful product certifications and deliveries [2] - The AI glasses business is progressing well, with contracts signed with 5-6 brands, indicating a positive outlook for future releases [3] Summary by Sections Financial Performance - The company reported a basic earnings per share (EPS) of 0.22 yuan for the first half of 2025 [1] - The projected net profits for 2025-2027 are estimated at 231 million yuan, 304 million yuan, and 402 million yuan respectively, with corresponding EPS of 0.58 yuan, 0.76 yuan, and 1.00 yuan [4][6] Revenue and Growth Projections - The company anticipates revenue growth rates of 21.6% for 2024, 23.2% for 2025, 24.7% for 2026, and 27.6% for 2027 [6][12] - The net profit growth rates are projected at 99.7% for 2024, 31.0% for 2025, 31.4% for 2026, and 32.2% for 2027 [6][12] Market Position - The company is recognized as a leading player in the domestic visual AI sector, with stable growth in mobile business and a focus on developing the smart automotive segment as a second growth curve [4]

Core Insights - The company reported a revenue of 410 million yuan for the first half of 2025, representing a year-on-year growth of 7.73% [1] - The net profit attributable to shareholders reached 89 million yuan, with a significant year-on-year increase of 44.06% [1] - The overall gross margin stood at 88.37%, a decrease of 2.69 percentage points compared to the previous year [1] Financial Performance - The company achieved a revenue of 201 million yuan in Q2 2025, reflecting a year-on-year growth of 2.08% [1] - The net profit attributable to shareholders for Q2 was 39 million yuan, up 42.43% year-on-year [1] - The non-GAAP net profit for Q2 was 32 million yuan, marking a year-on-year increase of 34.83% [1] Business Segments - Revenue from mobile intelligent terminal visual solutions was 339 million yuan, growing by 2.23% year-on-year [1] - Revenue from intelligent automotive and other AIoT visual solutions reached 64.65 million yuan, with a remarkable growth of 49.09% [1] - The mature segment showed stable customer retention and strong technical barriers, while the emerging segment experienced increased demand and penetration [1] Technology and Product Development - The company is advancing its in-cabin and out-of-cabin solutions, with driver and passenger safety assistance systems already in mass production [2] - The DMS product has received EU ADDW certification and achieved full marks in safety tests for brands like Lantu and Geely [2] - The company is focusing on smart parking and driver assistance systems, with successful POC technology validation for integrated parking solutions [2] AI and Robotics - The company is making strides in commercializing AI glasses and embodied intelligence, enhancing product capabilities and expanding ecosystem resources [3] - Collaborations with leading chip manufacturers like Qualcomm are aimed at optimizing imaging algorithms and chip compatibility [3] - The company has established technical partnerships with renowned civilian robotics firms for core intelligent visual perception and integration [3] Earnings Forecast - The company is expected to benefit from the high growth rates in the smart imaging and smart driving sectors, with projected EPS of 0.54, 0.66, and 0.82 yuan for 2025-2027 [3]

Investment Rating - The investment rating for the company is not explicitly stated in the provided documents, but the analysis suggests a positive outlook based on growth metrics and emerging opportunities in AI and smart driving sectors [1][2]. Core Insights - The company reported a revenue of 410 million yuan for the first half of 2025, representing a year-on-year growth of 7.73%, with a net profit of 89 million yuan, up 44.06% year-on-year [1]. - The gross margin for the company stands at 88.37%, a decrease of 2.69 percentage points compared to the previous year [1]. - The mobile intelligent terminal visual solutions segment generated revenue of 339 million yuan, growing 2.23% year-on-year, while the smart automotive and AIoT device solutions segment saw a significant increase of 49.09% to 64.65 million yuan [1]. - The company is actively pursuing new technologies and markets, with EPS projections of 0.54, 0.66, and 0.82 yuan for 2025, 2026, and 2027 respectively, corresponding to P/E ratios of 98.74, 81.02, and 64.71 [1][2]. Financial Summary - Total revenue is projected to grow from 670 million yuan in 2023 to 1.501 billion yuan in 2027, with a compound annual growth rate (CAGR) of approximately 24.4% [2]. - The net profit attributable to the parent company is expected to increase from 88 million yuan in 2023 to 330 million yuan in 2027, reflecting a growth rate of 25.2% in the final year [2]. - The gross margin is forecasted to remain stable around 90% over the next five years, indicating strong profitability [2]. - Return on equity (ROE) is projected to improve from 3.3% in 2023 to 10.3% in 2027, showcasing enhanced efficiency in generating profits from shareholders' equity [2]. Business Segments - The company is focusing on both in-cabin and out-of-cabin solutions for smart vehicles, with significant advancements in driver and passenger safety systems and successful product certifications [1]. - The AI edge computing segment is expected to see gradual commercialization, particularly with AI glasses and embodied robots, indicating a strategic shift towards innovative product offerings [1].

Investment Rating - The report maintains a "Buy" rating for the company, expecting a price increase of over 15% in the next 6-12 months [4][11]. Core Views - The company achieved a revenue of 410 million RMB in the first half of 2025, representing a year-on-year growth of 7.7%, with a net profit of 70 million RMB, up 33.9% year-on-year [2]. - The mobile intelligent terminal visual solutions segment generated 340 million RMB in revenue, growing 2.2% year-on-year, while the smart automotive and other AIoT segment saw a significant increase of 49.1% to 60 million RMB, driven by targeted projects in the smart automotive sector [3]. - The company is expected to see revenue growth of 9.0%, 14.2%, and 14.7% for the years 2025, 2026, and 2027, respectively, with net profit growth rates of 6.6%, 32.9%, and 29.2% for the same years [4]. Summary by Sections Performance Review - In the first half of 2025, the company reported a cash inflow of 390 million RMB from sales, a 45.9% increase compared to the same period last year [2]. Operational Analysis - The smart automotive sector is expected to become a new growth curve for the company, with strategies focusing on domestic markets and software development before hardware integration [3]. - The increase in net profit is attributed to better personnel utilization across product lines and a reduction in management fees [3]. Profit Forecast and Valuation - The projected revenues for 2025, 2026, and 2027 are 890 million RMB, 1,015 million RMB, and 1,164 million RMB, respectively, with corresponding net profits of 190 million RMB, 250 million RMB, and 320 million RMB [4].

报告期，公司移动智能终端视觉解决方案本期实现营业收入3.39亿元，较上年同期增长2.23%;公司智能 汽车及其他AIoT智能设备视觉解决方案本期实现营业收入6465.16万元，较上年同期增长49.09%。 此外，拟向全体股东每10股派发现金红利2.20元(含税)。 智通财经APP讯，虹软科技(688088.SH)发布2025年半年度报告，该公司营业收入为4.1亿元，同比增长 7.73%。归属于上市公司股东的净利润为8853.61万元，同比增长44.06%。归属于上市公司股东的扣除非 经常性损益的净利润为7201.08万元，同比增长33.86%。基本每股收益为0.22元。 ...

报告期内，公司经营活动产生的现金流量净额较上年同期增加11,103.38万元，主要系公司本期销售款收 回增加所致。 格隆汇8月18日丨虹软科技(688088.SH)公布2025年半年度报告，上半年公司实现营业收入4.10亿元，同 比增长7.73%；利润总额9614.56万元，同比增长28.89%；归属于上市公司股东的净利润8853.61万元， 同比增长44.06%；归属于上市公司股东的扣除非经常性损益的净利润7201.08万元，同比增长33.86%； 基本每股收益0.22元。拟向全体股东每10股派发现金红利2.20元(含税)。 公司移动智能终端视觉解决方案本期实现营业收入3.39亿元，较上年同期增长2.23%；公司智能汽车及 其他AIoT智能设备视觉解决方案本期实现营业收入6,465.16万元，较上年同期增长49.09%。 ...

人民财讯8月18日电，虹软科技(688088)8月18日晚间披露2025年半年报，公司上半年实现营业收入4.1亿 元，同比增长7.73%；归母净利润8853.61万元，同比增长44.06%；基本每股收益0.22元。公司拟每10股 派发现金红利2.2元(含税)。报告期内，公司移动智能终端视觉解决方案本期实现营业收入33932.23万 元，较上年同期增长2.23%；公司智能汽车及其他AIoT智能设备视觉解决方案本期实现营业收入6465.16 万元，较上年同期增长49.09%。 ...