Group 1: Business Collaboration and Financial Outlook - The company cannot disclose specific business collaborations with Huawei due to confidentiality agreements, which raises concerns for investors about the company's financial health given its continuous losses [2][3] - The company is optimistic about gradually overcoming its financial difficulties through internal adjustments and market responsiveness [2] - Financial information regarding the company's performance will be disclosed through official announcements [3] Group 2: Product Development and Market Position - The company is developing the 800G optical module and has initiated ODM custom development for LPO (Linear Pluggable Optical Module), receiving initial orders, but profitability remains limited due to the small scale of operations [3][4] - The 800G NPO (Near-Package Optical) project is still in the R&D phase and has not yet achieved mass production, indicating potential uncertainties in future progress [3][4] - The company continues to supply 200G and below optical module products normally [4][5] Group 3: Strategic Focus and Growth - The company is focusing on "technological independence, green transformation, and domestic demand-driven growth" to enhance its core competitiveness [6][7] - The core business segment of magnetic components achieved a 11.9% sales growth compared to the same period last year, demonstrating resilience against market fluctuations [7] - New products have been launched in both magnetic components and optical modules to meet diverse customer needs [7][8] Group 4: Acquisition and Market Expansion - The acquisition of ABB's electric transportation division is aimed at leveraging ABB's brand influence and complete charging pile industry chain to enhance the company's market position [8][9] - The partnership is expected to facilitate rapid penetration into the domestic market and reduce barriers for overseas market expansion [9] Group 5: Future Plans and Risks - The company has no current plans for restructuring or acquisitions unless required by regulatory obligations [10] - Investors are advised to be cautious regarding the uncertainties surrounding the development and production timelines of the 800G optical modules and the 1.6T modules, which are only being developed in collaboration with JDM [11][12]

Group 1 - The company reported a revenue of 806 million yuan for the first half of 2025, representing a year-on-year growth of 0.84%, while the net profit attributable to the parent company after deducting non-recurring gains and losses was -78 million yuan, indicating a reduced loss compared to the same period last year [1] - The core business of magnetic components achieved a sales growth of 11.9%, further expanding the company's market influence, benefiting from the high demand in the new energy and AI sectors [1] - The government’s guidelines to address "involution" competition and the revision of the Anti-Unfair Competition Law have started to show positive effects on industry governance, which is expected to help the company’s performance recover in the second half of the year [1] Group 2 - The AI market's continuous growth is expected to provide strong momentum for the company's performance in the second half of the year, as the demand for data processing and transmission is surging due to AI's deep penetration into vertical industries [1] - The company’s two core businesses, magnetic components and optical communication products, account for 77.36% of total revenue, and their growth potential is closely linked to the development trends in the AI hardware market [2] - The company has launched several high-performance products, including the 800GDR8 optical module and intelligent DCDU, to meet the increasing performance demands of the AI market [2] Group 3 - The company’s subsidiary, Meitan, launched the CherminR series cycling equipment, which received positive feedback from professionals and consumers [3] - The company completed the acquisition of a 60% stake in ABB Electric Transportation, further solidifying its leading position in the charging pile market [3] - The collaboration with ABB Electric Transportation is expected to enhance business synergy and gradually release scale benefits, contributing to the company's performance growth [3]