业绩简评 2025 年 10 月 24 日，公司披露 2025 年度第三季度业绩：公司 2025 年第三季度实现营收 2.17 亿元，同比增长 12.7%，毛利润 为 1.91 亿元，同比增长 10.7%；实现扣非后归母净利润 0.41 亿 元，同比增长 68.3%。第三季度销售商品、提供劳务收到的现金 为 2.67 亿元，同比增长 17.3%，快于同期营收增速。2025 年第 三季度末合同负债为2.14亿元，环比2025年第二季度末增长0.44 亿元。 经营分析 移动智能终端视觉解决方案 2025 年第三季度营收为 1.7 亿元，同 比增长 12.9%。智能超域融合产品已完成从旗舰机型至中端机型 的全面覆盖，也在部分中低端机型上实现了规模化落地。智能汽车 及其他 AIoT 2025 年第三季度营收为 0.4 亿元，同比增长 10.3%， ADAS 产品不仅支持 L2 级 ADAS 辅助驾驶，还通过与 APA 系统 的深度融合，实现全场景智能行车和泊车功能。公司还依托高通 Snapdragon Ride 平台与舱驾融合平台构建了行泊一体，视觉感 知的辅助驾驶系统解决方案。AIOT 方面，AI 眼镜已成功助力多 ...

登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：688088 证券简称：虹软科技 公司负责人、主管会计工作负责人及会计机构负责人（会计主管人员）保证季度报告中财务信息的真 实、准确、完整。 第三季度财务报表是否经审计 □是 √否 一、主要财务数据 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容 的真实性、准确性和完整性依法承担法律责任。 重要内容提示： 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整，不存在虚假 记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 （一）主要会计数据和财务指标 单位：元 币种：人民币 ■ 注："本报告期"指本季度初至本季度末3个月期间，下同。 （二）非经常性损益项目和金额 ■ （三）主要会计数据、财务指标发生变动的情况、原因 √适用 □不适用 ■ 二、股东信息 √适用 □不适用 单位:元 币种:人民币 ■ 对公司将《公开发行证券的公司信息披露解释性公告第1号一一非经常性损益》未列举的项目认定为非 经常性损益项目且金额重大的，以及将《公开发行证券的公司信息披露解释性公告第1号一一非经常性 ...

转自：证券时报 人民财讯10月24日电，虹软科技(688088)10月24日发布2025年三季报，公司第三季度营业收入2.17亿 元，同比增长12.68%；净利润5318.23万元，同比增长98.21%。2025年前三季度营业收入6.28亿元，同 比增长9.39%；净利润1.42亿元，同比增长60.51%；基本每股收益0.35元。业绩变动主要原因是移动智 能终端视觉解决方案业务和智能汽车及其他AIoT智能设备视觉解决方案业务收入增长。 ...

Core Points - The stock price of Hongsoft Technology has increased by 33.92% year-to-date but has seen a decline of 18.34% in the last five trading days and 14.76% in the last twenty days [2] - The company specializes in visual artificial intelligence technology, providing solutions for smart devices including smartphones, smart cars, and IoT [2] - As of June 30, 2025, Hongsoft Technology reported a revenue of 410 million yuan, a year-on-year increase of 7.73%, and a net profit of 88.54 million yuan, up 44.06% year-on-year [2] Financial Performance - The company has a total market capitalization of 20.464 billion yuan, with a stock price of 51.01 yuan per share as of October 16 [1] - The company has distributed a total of 613 million yuan in dividends since its A-share listing, with 387 million yuan distributed in the last three years [3] - The number of shareholders decreased by 8.42% to 20,100 as of June 30, 2025, while the average circulating shares per person increased by 9.20% to 19,938 shares [2] Shareholder Information - The seventh largest circulating shareholder is Taixin Small and Medium Cap Selected Mixed Fund, holding 3.83 million shares, an increase of 170,000 shares from the previous period [3] - The tenth largest circulating shareholder is Golden Eagle Technology Innovation Stock A, which is a new entrant holding 2.77 million shares [3] - Hong Kong Central Clearing Limited has exited the list of the top ten circulating shareholders [3]

Core Viewpoint - Hongsoft Technology's stock has shown significant growth this year, with a 57.84% increase, indicating strong market performance and investor interest [2]. Financial Performance - For the first half of 2025, Hongsoft Technology achieved a revenue of 410 million yuan, representing a year-on-year growth of 7.73%. The net profit attributable to shareholders was 88.54 million yuan, marking a substantial increase of 44.06% [2]. - The company has distributed a total of 613 million yuan in dividends since its A-share listing, with 387 million yuan distributed over the past three years [3]. Stock Market Activity - As of September 17, Hongsoft Technology's stock price was 60.47 yuan per share, with a market capitalization of 24.26 billion yuan. The stock experienced a 2.01% increase during the trading session [1]. - The stock has seen a trading volume of 1.08 billion yuan, with a turnover rate of 0.45% [1]. - The net inflow of main funds was 2.59 million yuan, with significant buying and selling activity from large orders [1]. Shareholder Information - As of June 30, 2025, the number of shareholders was 20,100, a decrease of 8.42% from the previous period. The average circulating shares per person increased by 9.20% to 19,938 shares [2]. - Among the top ten circulating shareholders, Taixin Small and Medium Cap Selected Mixed Fund increased its holdings by 170,000 shares, while Jin Ying Technology Innovation Stock A entered the list as a new shareholder [3].

Group 1 - The core viewpoint of the news is that Hongsoft Technology has seen a significant increase in stock price, rising by 5.18% to reach 58.48 CNY per share, with a total market capitalization of 23.46 billion CNY [1] - Hongsoft Technology specializes in the research and application of visual artificial intelligence technology, providing comprehensive solutions for smart devices such as smartphones, smart cars, and IoT [1] - The revenue composition of Hongsoft Technology is primarily from mobile intelligent terminal visual solutions (82.69%), followed by smart automotive and other AIoT device visual solutions (15.76%), and other sources (1.55%) [1] Group 2 - According to data, Hongsoft Technology is a top ten holding in the Huazhong Fund's Huazhong Intelligent Equipment Theme Stock A (001072), which held 552,100 shares, accounting for 2.85% of the fund's net value [2] - The fund has achieved a year-to-date return of 23.93% and a one-year return of 62.82%, ranking 1301 out of 4222 and 1016 out of 3795 respectively [2] - The fund manager, Liu Changchang, has been in position for over 5 years, with the fund's total asset size at 6.642 billion CNY and a best return of 211.58% during his tenure [3]

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].