Core Insights - The company has successfully applied carbon fiber products in the notebook computer casing sector and has entered the foldable smartphone market with mass production capabilities [1] - In the robotics sector, the company has initiated relevant research and development, gradually applying carbon fiber products to exoskeleton robot structural components, although the current application scale is still small [1] Company Developments - Carbon fiber products have reached mature application in the notebook computer casing field [1] - The company has achieved mass production of carbon fiber products for the foldable smartphone market [1] - Initial research and development efforts have been made for the application of carbon fiber in exoskeleton robots [1]

Core Viewpoint - The report highlights the financial performance and operational status of Harson Trading (China) Co., Ltd. for the first half of 2025, indicating significant revenue growth but continued net losses, alongside strategic developments in its business segments [1][10]. Financial Performance - Total revenue for the first half of 2025 reached CNY 699.36 million, a 67.03% increase compared to CNY 418.70 million in the same period last year [3][10]. - The total profit amounted to CNY 12.11 million, a substantial increase of 341.62% from CNY 2.74 million in the previous year [3]. - The net profit attributable to shareholders was a loss of CNY 1.71 million, an improvement from a loss of CNY 11.85 million in the same period last year [3][10]. - The net cash flow from operating activities was CNY 356,423.02, a significant decrease of 94.65% compared to CNY 6.66 million in the previous year [3][11]. Business Segments Footwear Business - The company primarily operates in the mid-to-high-end footwear market, utilizing both online and offline sales channels [4][10]. - Online sales through platforms like Tmall and JD.com, as well as social media marketing, are emphasized, while offline sales are conducted through department store counters [7][10]. - Revenue from footwear decreased by 10.82% to CNY 261.75 million, while online sales dropped by 26.00% to CNY 90.59 million [10]. Precision Metal Components - The precision metal components segment generated CNY 292.71 million in revenue, accounting for 42.71% of total revenue, with products used in consumer electronics [10][11]. - The company has expanded its operations into the renewable energy sector, indicating a strategic diversification of its product offerings [10]. Automation Equipment - Revenue from automation equipment and fixtures reached CNY 40.35 million, representing 5.89% of total revenue, with applications primarily in the consumer electronics sector [10][11]. - The company is focusing on expanding its capabilities in the automotive and new energy sectors, reflecting a commitment to technological advancement [6][10]. Industry Context - The domestic footwear industry is characterized by intense competition, with a focus on brand image, style, and comfort as key factors for consumer preference [4][5]. - The precision metal components industry is crucial for modern manufacturing, with increasing demand driven by advancements in technology and the growth of the consumer electronics market [5][6]. - The automation equipment sector is experiencing growth due to the ongoing transformation of traditional industries and the rise of smart manufacturing [6][10].