Core Insights - The company, LianCe Technology (688113.SZ), reported a revenue of 255 million yuan in the first half of 2025, marking a year-on-year increase of 6.04% and a net profit attributable to shareholders of 52.94 million yuan, up 13.12% year-on-year [2] - The company's intelligent testing equipment for power systems has an order backlog (including tax contract amount) of 570 million yuan, reflecting a year-on-year growth of 25.80%, which lays a solid foundation for performance release in the second half of the year [2] - The testing and verification services segment showed significant growth, achieving revenue of 46.84 million yuan, a remarkable increase of 208.42%, with its revenue share rising from 6.31% in the same period last year to 18.35%, becoming a new growth driver [2] Company Overview - LianCe Technology is a leading domestic enterprise in power system testing solutions, holding 23 invention patents, 108 utility model patents, and 54 software copyrights [2] - The company focuses on the research and development of testing equipment and services in niche areas such as new energy vehicles, fuel vehicles, ships, and aviation, gradually forming a complete solution that integrates software and hardware [2] Industry Position - The company has made substantial breakthroughs in the localization of high-speed hydraulic dynamometers for aircraft engines, with multiple product models entering customer trial operations or achieving sales, and some products have already received orders [2] - The related technology is approaching international leading levels in key indicators such as maximum power and highest speed, providing critical support for China's autonomous control in aviation power [2] Client Base and Shareholder Returns - The company's client base is extensive, including major players in the new energy vehicle sector such as SAIC Group, GAC Group, BYD, Huawei, NIO, Xiaomi Auto, and Changan Automobile, as well as partnerships with companies in the fuel vehicle and research sectors like Weichai Group, Geely Group, and FAW Group [3] - The company plans to distribute a cash dividend of 2.48 yuan per 10 shares (including tax), totaling approximately 15.97 million yuan, which accounts for 30.16% of the net profit attributable to shareholders [3] Future Outlook - LianCe Technology demonstrated robust growth in performance, improved cash flow, and ample orders in the first half of 2025 [3] - With the rapid expansion of testing and verification services and the ongoing import substitution of aircraft engine testing equipment, the company's strategic position in the new energy vehicle and aviation power sectors is becoming increasingly prominent [3] - The company is expected to play a larger role in the high-end manufacturing process of "Made in China" in the future [3]