29 August 2025 | 5:13PM HKT Sanhua A/H (002050.SZ/2050.HK) 2Q25 beat; AIDC liquid cooling upside potential with stable positioning in robot actuators; raise TP/EPS; Buy Sanhua delivered a 2Q25 results beat, with revenue/gross profit/EBIT/net income at Rmb8,593mn/2,515mn/1,459mn/1,207mn (+19%/+25%/+50%/+39% yoy), +3%/+10%/+21%/+14% vs. GSe. 2Q25 GPM/OPM/NPM came in at 29%/17%/14% (+1pp/+4pp/+1pp yoy), +2pp/+2pp/+1pp vs. GSe. 2Q25 was a strong beat especially on margins. HVAC control components remained the c ...