Core Viewpoint - The company achieved a revenue of 730 million yuan in Q2 2025, marking a year-on-year growth of 14.0%, while the net profit attributable to shareholders decreased by 23.96% due to rising operational costs and declining overall gross margins [1][2]. Financial Performance - In H1 2025, the company reported a total revenue of 1.367 billion yuan, a year-on-year increase of 10.35%, with a net profit of 85 million yuan, down 23.96% [1]. - Q2 2025 saw a revenue of 731 million yuan, a year-on-year increase of 14.03% and a quarter-on-quarter increase of 14.85%, with a net profit of 57 million yuan, up 8.34% year-on-year and up 110.40% quarter-on-quarter [1]. - The gross margin for Q2 2025 was 19.9%, down 5.5 percentage points year-on-year and 0.7 percentage points quarter-on-quarter, while the net profit margin was 7.6%, down 0.5 percentage points year-on-year but up 3.5 percentage points quarter-on-quarter [2]. Product Performance - In H1 2025, the revenue from automotive speakers was 1.052 billion yuan, up 11.6% year-on-year, with a gross margin of 19.39%. The revenue from automotive amplifiers was 238 million yuan, up 15.2% year-on-year, with a gross margin of 21.50%. The revenue from AVAS was 60 million yuan, up 2.4% year-on-year, with a gross margin of 27.85% [1]. Market Position and Strategy - The company is enhancing its competitive edge in the acoustic system market, with an upgrade in product categories from speakers to a combination of speakers, amplifiers, and AVAS, increasing the per vehicle value from 100-200 yuan to potentially 1000 yuan for certain models [3]. - The company has demonstrated its leadership in automotive acoustic products by achieving full self-research capabilities from hardware to software, including AI panoramic sound system technology [3]. - The company has seen an increase in market share for automotive speakers, rising from 12.64% in 2020 to 15.24% in 2024, and has secured new project designations from several well-known automotive manufacturers [3]. Production Capacity and Investment - The new factory in Hefei began production at the end of 2024, with capacity gradually ramping up. The company plans to issue convertible bonds to fund technological upgrades for its Suzhou speaker production line, aiming to enhance its smart manufacturing capabilities [3].

报告期内，公司继续推进智能制造、产线自动化升级、节能降耗，扩充产能降本增效工作。为应对贸易逆全球化的风险以及跟随中国车厂加速出海的步伐， 对捷克科技与墨西哥上声：继续推进自动化生产线改造以及新产品产线建设，提升海外基地的交付能力，迎接更多海外项目在当地落地。通过实施生产制造 过程与工艺技术优化、强化过程管控，加大节能设施应用，落实降本增效具体措施。公司合肥新工厂于2024年底投入生产，当期产能逐步爬坡。公司申请向 不特定对象发行可转换公司债券，拟使用募集资金对苏州本部的扬声器生产线进行技术改造升级，全面提升公司智能制造能力，提升客户满意度。 报告称，在2025年上半年举行的上海车展，公司对外展示了应用AI全景声音响系统技术。该系统特别引入钻石高音、带式高音、系列化碳纤维扬声器和阵 列式头枕扬声器等创新专利产品组成的53扬声器配置，搭配4000W大功率功放，结合720°全景声场重构技术，给客户带来震撼的影院级声场体验。前述方案 属业界首创，是当前车载音响系统的顶级配置。公司实现从硬件到软件，从扬声器、功放到算法的全自研，彰显了上声电子在汽车声学产品领域的领导地 位。公司将继续深化纯数字音频技术链布局，构建自研芯 ...