Investment Rating - The report maintains a "Recommended" rating for the company [4][7]. Core Insights - The company achieved a turnaround in profitability in Q2 2025, with a revenue of 1.58 billion yuan, a year-on-year increase of 38.90% and a quarter-on-quarter increase of 18.98%. The net profit attributable to shareholders was 33 million yuan, marking a return to profitability [2][4]. - The rapid growth in revenue is primarily driven by the electronic products business, particularly the domain controller products. The gross margin for Q2 2025 reached 24.64%, an increase of 3.73 percentage points year-on-year [2][3]. - The company is set to launch its RoboX business, with significant advancements in domain integration technology and strategic partnerships with leading logistics companies [3][4]. Revenue and Profit Forecast - The company is projected to achieve revenues of 7.32 billion yuan, 9.04 billion yuan, and 10.75 billion yuan for the years 2025, 2026, and 2027, respectively. The net profit attributable to shareholders is expected to be 88 million yuan, 370 million yuan, and 928 million yuan for the same years [4][6]. - The earnings per share (EPS) are forecasted to be 0.73 yuan, 3.08 yuan, and 7.74 yuan for 2025, 2026, and 2027, respectively, with corresponding price-to-earnings (PE) ratios of 160, 38, and 15 [4][6]. International Expansion - The company has made significant progress in its international strategy, securing multiple OEM/Tier 1 product contracts and establishing production bases in Tianjin, Nantong, Nanchang, and Malaysia. This expansion supports a comprehensive integrated supply chain [4][3].