Core Viewpoint - The global storage market is experiencing a recovery, driven by stable pricing, seasonal demand, and strong interest in emerging applications like AI glasses. The positive outlook is expected to continue [1]. Company Performance - In the first half of the year, the company achieved a revenue of 3.912 billion yuan, representing a year-on-year growth of 13.70%. The second quarter saw a quarter-on-quarter revenue increase of 53.5% [3]. - The company reported a net loss of 75.57 million yuan after excluding share-based payment expenses, with a net profit of 41.29 million yuan in the second quarter after similar exclusions [3]. Client Acquisition and Market Expansion - The company has successfully entered various first-tier clients across multiple sectors, including mobile (new partnerships with vivo, continued collaboration with OPPO, Transsion, and Motorola), PC (partnerships with Lenovo, Xiaomi, Acer, HP), and smart wearables (collaborations with Meta, Google, and others) [2]. - In the enterprise sector, the company is rapidly developing its products and has gained core supplier qualifications from AI server manufacturers and leading internet companies [2]. Innovation and R&D Investment - The company is focusing on AI edge innovation, enhancing its competitive edge in high-end storage solutions for AI applications. It has successfully mass-produced its first domestically developed eMMC controller, SP1800, and is developing UFS (SP9300) [4]. - R&D expenses have increased by 29.77% year-on-year, reflecting the company's commitment to chip design, firmware development, and new product innovation [5]. Advanced Packaging Technology - The company is advancing its wafer-level packaging project, which is expected to be operational by the second half of 2025. This will provide a comprehensive solution combining storage and advanced packaging [6]. - The project includes two main product lines: FOMS series for advanced storage chips and CMC series for integrated storage and computing solutions, targeting AI edge and smart driving applications [6]. Industry Outlook - The storage market is expected to see a price recovery starting from the second quarter of 2025, following a period of price decline and inventory adjustments. Major companies have begun to stabilize prices, particularly in NAND and DRAM segments [7]. - Reports indicate a positive trend in the profitability and inventory management of domestic companies, with expectations for overall price recovery in the storage sector [7].