Financial Performance - The company reported a total revenue of 167 million yuan for the first half of 2025, an increase of 11.73% year-on-year [1] - The net profit attributable to shareholders reached 35.4 million yuan, up 10.8% compared to the previous year [1] - The gross profit margin was 48.23%, a decrease of 5.37% year-on-year, while the net profit margin was 21.18%, down 0.83% [1] - The company’s accounts receivable amounted to 362 million yuan, representing 456.86% of the net profit, indicating a significant level of receivables [1][3] Business Model and Market Position - The company operates primarily in the smart water metering and smart heat metering sectors, with a wide range of products used in urban water supply and energy management [4] - The company has a strong competitive advantage in the ultrasonic water meter market due to its early entry and extensive application experience [4] - The core technologies and components are developed in-house, providing cost advantages and enhancing product quality [5] Marketing and Sales Strategy - The company is actively expanding its marketing strategy by recruiting high-end technical talent and increasing the sales team’s capabilities [7] - A "triangular" sales model combining sales, technology, and after-sales service is being implemented to enhance market penetration [7] International Expansion - The company is making efforts to penetrate overseas markets, having obtained various certifications such as EU MID and CE, which are crucial for international sales [6] - Although the sales cycle for international markets is lengthy due to customization and testing requirements, initial results show promise [6] Technological Development - The company has developed a comprehensive smart water management platform that integrates various operational modules to support decision-making for clients [8] - This platform addresses issues such as data silos and provides critical operational metrics, enhancing overall service delivery [8]

Core Viewpoint - Huizhong Co., Ltd. (300371) has achieved significant growth in both revenue and net profit due to its deep technical expertise in ultrasonic flow measurement and global strategic layout, despite facing challenges in the domestic market [2] Financial Performance - In the first half of 2025, the company's operating revenue reached 213 million yuan, a year-on-year increase of 51.67% - The net profit attributable to shareholders was 41.558 million yuan, up 102.72% year-on-year - The net profit after deducting non-recurring gains and losses was 36.335 million yuan, a substantial increase of 122.31% year-on-year - Basic earnings per share were 0.21 yuan, an increase of 103.60% year-on-year [2] Overseas Market Growth - The overseas market has become a key driver for the company's performance, with overseas business revenue reaching 73.5964 million yuan, a staggering increase of 1920.58% year-on-year - Gross margin in the overseas market improved to 49.79%, an increase of 11.08 percentage points compared to the same period last year [3] Strategic Initiatives - The company has established a subsidiary in Australia and formed a strategic partnership with Italy's Almaviva Bluebit to enhance its overseas channel network - Continuous improvement in overseas market expansion capabilities and personalized service levels has effectively shaped the high-end product image of ultrasonic household water meters in international markets [3] Product Development and Innovation - The company invested 18.0814 million yuan in R&D in the first half of 2025, a year-on-year increase of 19.11% - Four new patents and seven software copyrights were authorized during the reporting period, bringing the total number of effective patents to 132 [5] Technological Advancements - The company is advancing both hardware and software products, focusing on optimizing performance and enhancing overseas adaptability - The SaaS platform has served 1,080 users in the water supply and heating sectors, a 0.9% increase from the previous year [6] Smart Manufacturing and Efficiency - The company employs a PDCA model for production management, focusing on quality, efficiency, and cost control - It has made breakthroughs in production capacity, quality, efficiency, and safety through self-built supply chains and digital enhancements [7] Future Outlook - The company aims to strengthen its brand influence and product competitiveness while optimizing management to enhance profitability [7]

Group 1: Company Overview and Product Line - Maito Instrument Co., Ltd. specializes in smart water metering and smart thermal metering, with a product range covering nearly a thousand specifications and models [3][4] - Key products include ultrasonic water meters, ultrasonic flow meters, smart fire hydrants, and smart flow control valves, along with proprietary management software and smart water management platforms [4][5] Group 2: Market Position and Competitive Advantages - The company holds a significant market share in the ultrasonic water meter sector due to its early entry and extensive application experience, with stable operation cases exceeding 10 years [5] - Core competitive advantages include proprietary technology in ultrasonic sensors and software platforms, leading to cost advantages and high measurement accuracy [5] - The company emphasizes a dual strategy of technology and marketing to maintain its competitive edge amidst market pressures [6][7] Group 3: International Market Expansion - The company is actively expanding into overseas markets, having obtained EU MID factory certification and CE qualification, although the sales cycle is longer due to customization and stringent technical requirements [8] - Participation in international exhibitions is part of the strategy to enhance market visibility and promote products [8] Group 4: Marketing Strategies and Plans - The company is developing marketing strategies to quickly capture market share, including recruiting high-end technical talent and expanding the sales team [9] - A "triangular" sales model combining sales, technology, and after-sales service is being implemented to explore new sales territories [9] Group 5: Smart Water Management Initiatives - The company has developed a comprehensive smart water management service platform that integrates various operational modules to address data silos and support decision-making [10] - The platform provides key operational metrics such as leakage rates, sales discrepancies, and energy consumption, along with automated reporting capabilities [10]

Group 1 - The stock price of Huizhong Co., Ltd. is reported at 13.06 yuan, down 1.28% from the previous trading day [1] - The company operates in the instrumentation industry, focusing on the research and application of ultrasonic flow measurement technology, with products including ultrasonic water meters and ultrasonic heat meters [1] - The company expects a net profit of 39.9762 million to 42.0262 million yuan for the first half of 2025, representing a year-on-year growth of 95% to 105% [1] Group 2 - As of July 20, the number of shareholders in Huizhong Co., Ltd. was 14,438, a decrease of 24.28% compared to July 10 [1] - On July 29, the net outflow of main funds for Huizhong Co., Ltd. was 9.1005 million yuan, accounting for 0.52% of the circulating market value [1]

Core Viewpoint - The company has signed a strategic cooperation agreement with Almaviva Bluebit to establish an exclusive partnership in Italy, aiming to expand the global ultrasonic water meter market [1] Group 1: Strategic Cooperation - The cooperation will focus on deepening industrial collaboration, enhancing research and development synergy, improving supply chain management, and exploring new product markets [1] - This strategic partnership is expected to positively impact the company's brand and ultrasonic flow measurement products, gaining recognition from overseas market customers [1] Group 2: Market Impact - The collaboration is anticipated to create long-term and stable sales in the overseas market for the company [1]

Group 1: Current Business Operations - The company has developed a product system covering intelligent water and heat metering, with nearly a thousand specifications, widely used in urban water supply, centralized heating, and fire safety [3] - Main products include ultrasonic water meters, ultrasonic flow meters, intelligent fire hydrants, ultrasonic heat meters, and intelligent flow control valves [3] Group 2: Future Development Plans - The company operates three intelligent manufacturing plants, with a modern production line in the 38-acre Xiyan Road plant and a large-caliber flow calibration capability in the 92-acre Hori Mountain plant [4] - An 80-acre plant is under construction, which will fully integrate digital production lines, enhancing the company's industrial layout in ultrasonic metering [4] - Management is confident in the ultrasonic water meter market, with over 10 years of application cases and increasing customer recognition [4] Group 3: Market Expansion Strategies - The company has focused on ultrasonic fluid measurement technology since its inception, with initial products for heating measurement [5] - National policies support the ongoing reform of heating measurement, ensuring stable development for ultrasonic heat meters [5] - The company is actively expanding into overseas markets, having obtained EU MID factory and product certifications, and participating in international exhibitions [6] - Although the overseas market development has a longer sales cycle due to customization and strict technical requirements, initial results are promising [6]

Group 1: Financial Performance - The company's 2024 performance faced pressure, but the gross margin remained stable; a significant recovery was noted in Q1 2025 [1] - All business segments are currently profitable, with detailed information available in the 2024 Annual Report and the Q1 2025 Report [1] Group 2: Growth Opportunities - The company aims to become a leading international brand in ultrasonic flow measurement, focusing on providing top-notch products and services [1] - The operational strategy includes dual drivers of ultrasonic water and heat meters, deepening overseas business, enhancing industry penetration through ultrasonic technology, and digital transformation to boost industry intelligence [3] Group 3: Industry Outlook - The company operates in a sector with both opportunities and challenges, facing short-term pressure from weak new market expectations and slowing demand in existing markets [3] - However, the ongoing implementation of water-saving and energy-saving policies, along with the push for smart city construction and digital transformation in water and heating sectors, presents a promising future for the industry [3]