Core Viewpoint - Beijing Xinle Energy Technology Co., Ltd. reported a revenue of 552 million yuan for the first half of 2025, reflecting a year-on-year increase of 12.93%, but the company incurred a net loss of approximately 95.14 million yuan [2] Group 1: Company Performance - The company achieved an operating income of 552 million yuan in the first half of 2025, which is a 12.93% increase compared to the previous year [2] - The net profit attributable to shareholders was a loss of about 95.14 million yuan [2] Group 2: Business Overview - Xinle Energy specializes in the research, production, and sales of high-efficiency, high-reliability, and high-power-density power supply products, including integrated circuits (IC), power supply products, electric drives, and motor products [2] - The company's power supply products are widely used in aviation, aerospace, shipping, telecommunications, and data centers [2] Group 3: Growth Drivers - The growth in performance is driven by the increasing demand in high-reliability special fields such as aviation, aerospace, shipping, and railways, as well as the steady development of the telecommunications and data center industries [2] - The investment scale in aviation and aerospace sectors has increased, leading to a continuous rise in the variety and quantity of power electronic products entering mass delivery [2] - Xinle Energy has established itself as a leading supplier of high-performance power electronic products in the domestic market, benefiting from the rapid growth of the domestic power electronics industry [2]

Group 1: Financial Performance - In 2024, the company's operating revenue was 922.73 million, a year-on-year decrease of 37.16% [2] - The net profit attributable to shareholders was -501 million, a decline of 617.17% compared to the previous year [3] - In Q1 2025, the operating revenue reached 233 million, showing a year-on-year growth of 16.75% [3] Group 2: Revenue Composition and Business Segments - The company's revenue is primarily derived from integrated circuits (IC), power supply products, and motor products [3] - Integrated circuits include special power management chips and motor driver chips, used in high-reliability fields such as aerospace and power generation [3] - Power supply products are utilized in various sectors, including aviation, communication, and data centers [3] Group 3: Research and Development - In 2024, R&D expenses amounted to 390.18 million, an increase of 17.41% year-on-year [2] - The focus areas for R&D in the next 3-5 years include integrated circuit micro-modules and AI device power supplies [3] - The company is actively expanding its product categories and application fields, particularly in integrated circuits and data centers [2] Group 4: Market Challenges and Strategies - The company faces challenges from insufficient downstream demand and cyclical fluctuations in the communication industry [2] - Strategies to enhance competitiveness include increasing market expansion efforts and accelerating the conversion of new research products [2] - The company plans to balance debt and equity financing to optimize its capital structure, maintaining a debt ratio below 50% historically [4] Group 5: International Business Development - In 2022 and 2023, overseas business revenue accounted for approximately 20% of total revenue, with 270 million in 2023 [3] - In 2024, overseas revenue declined to 83 million due to industry impacts [3] - The company has a subsidiary in Singapore and aims to actively expand its overseas market presence [3]