Investment Rating - The investment rating for the company is "Buy" (maintained) [2] Core Views - The company reported a significant increase in revenue and net profit for 1H2025, with revenue reaching 4.944 billion yuan, a year-on-year growth of 38.18%, and net profit of 457 million yuan, a year-on-year increase of 27.68% [7] - The company is preparing for a listing on the Hong Kong Stock Exchange to enhance its international strategy and financing capabilities, which is expected to improve its visibility and transparency [7] - The company is projected to achieve revenues of 11.007 billion yuan, 14.937 billion yuan, and 18.129 billion yuan for the years 2025, 2026, and 2027 respectively, with net profits of 1.162 billion yuan, 1.860 billion yuan, and 2.369 billion yuan for the same years [7] Financial Performance - The company's revenue is forecasted to grow at rates of 47.95%, 59.08%, 48.54%, 35.70%, and 21.37% from 2023 to 2027 [6] - The net profit is expected to grow at rates of 119.46%, 140.80%, 67.90%, 60.10%, and 27.40% over the same period [6] - The earnings per share (EPS) is projected to increase from 1.23 yuan in 2023 to 6.84 yuan in 2027 [6] Market Performance - The company's stock has shown a market performance of -19% compared to the CSI 300 index, while the overall consumer electronics sector has seen a growth of 84% [4]

Group 1 - The "Smart Computing Power" seminar hosted by the Shenzhen Listed Companies Association focused on the integration of artificial intelligence and intelligent manufacturing, featuring discussions among industry leaders, investment institutions, and technical experts [1][2] - Co-creation Data's Fcloud has developed a high-performance network infrastructure based on GPU, supporting large-scale AI training and inference services, and has integrated NVIDIA's AI robotics technology into its Omnibot platform for innovative robot motion training [1][2] - The CreaFlow platform showcased at the seminar utilizes AIGC technology for creating innovative short dramas, set to launch on major video platforms in July and August [2] Group 2 - Co-creation Data plans to increase its investment in computing power services by injecting 940 million yuan into its wholly-owned subsidiary, Co-creation Cloud Computing Technology, to enhance data center layout and cloud platform capabilities [3] - The registered capital of Co-creation Cloud Computing will rise from 10 million yuan to 950 million yuan, positioning it as the core entity for the company's computing power business [3] - Co-creation Data has signed server procurement contracts worth up to 3 billion yuan and is progressing with a planned investment of 4 billion yuan for additional server purchases, aimed at strengthening its computing power leasing capabilities [3]