格隆汇1月9日丨领益智造(002600.SZ)在投资者互动平台表示，公司作为AMD核心供应商，在不同系列 产品项目上与客户展开合作，为散热设计优化、量产效率提升等关键环节提供解决方案，公司生产的 AMD系列显卡散热模组陆续出货。未来，公司将持续聚焦于高效散热技术的升级创新，加速推动高性 能运算产品的技术变革，并深化及扩大现有合作，积极开拓全新的合作领域。相关信息请关注公司于 2025年1月26日、2025年3月14日、2025年5月12日、2025年5月28日在微信公众号发布的《领益智造跻身 AMD供应链核心：进军显卡市场，从设计到制造，实现全球化布局》《AMD 推出 AMD Radeon RX 9000 系列显卡，加速人形机器人芯片方案》《AMD系列显卡散热模组陆续出货》《领益智造"羽毛铜 仿生结构"纳米散热技术助力显卡散热》。 ...

Core Insights - The report highlights the strong performance of Lingyi iTech, with a significant increase in revenue and net profit for the first half of 2025, indicating robust growth in its AI terminal business and other segments [1][2]. Financial Performance - For the first half of 2025, Lingyi iTech reported revenue of 23.625 billion yuan, a year-on-year increase of 23.35%, and a net profit attributable to shareholders of 930 million yuan, up 35.94% [1]. - In Q2 2025, the company achieved revenue of 12.131 billion yuan, reflecting a year-on-year growth of 29.91% and a quarter-on-quarter increase of 5.54% [1]. - The net profit for Q2 2025 was 365 million yuan, showing a year-on-year increase of 61.02%, although it declined by 35.48% quarter-on-quarter [1]. Business Segments - The AI terminal business generated approximately 20.865 billion yuan in revenue, marking a year-on-year growth of 17.26%, with a gross margin of 16.89%, an increase of 0.34 percentage points [2]. - The automotive and low-altitude economy sectors achieved revenue of 1.183 billion yuan, up 38.41% year-on-year, with a gross margin increase of 13.27 percentage points [2]. - Other business segments, including clean energy, reported revenue of 1.382 billion yuan, a substantial year-on-year increase of 247.58% [2]. New Business Developments - The company made significant progress in new business areas, including humanoid robots, servers, thermal management, and foldable screens, launching several core components and solutions [3]. - Lingyi iTech's "Lingzhi Team" achieved notable success at the 2025 World Humanoid Robot Games, winning two gold medals and one bronze [3]. Investment Outlook - The forecast for net profit attributable to shareholders for 2025-2027 is 2.2 billion, 2.89 billion, and 3.32 billion yuan, respectively, with corresponding EPS of 0.31, 0.41, and 0.47 yuan per share [4]. - The report maintains a "buy" rating for Lingyi iTech, reflecting confidence in its growth trajectory and market position [4].