Core Insights - In the first half of 2025, Baolong Technology (603197) achieved operating revenue of 3.95 billion yuan, a year-on-year increase of 24.06%, while net profit was 135 million yuan, down 9.15% [1] - The company plans to distribute a cash dividend of 3.2 yuan per 10 shares, totaling approximately 67.56 million yuan, which accounts for 50.14% of the net profit attributable to the parent company [1] Revenue Breakdown - Revenue from the intelligent suspension system surged by 50.22% to 637 million yuan, marking it as the fastest-growing segment [1] - TPMS (Tire Pressure Monitoring System) and sensor businesses generated revenues of 1.209 billion yuan and 368 million yuan, reflecting year-on-year growth of 22.7% and 18.7% respectively [1] - Domestic main business revenue increased by 33.07%, with its proportion rising from 50.61% last year to 54.55% [1] Market Position and Partnerships - The company has established partnerships with leading new energy vehicle manufacturers such as BYD (002594), NIO, and Li Auto, and has entered the supply chains of major global automakers like Toyota, Volkswagen, and BMW [1] - The penetration rate of air suspension has increased to 5.7%, driving the company’s continued breakthroughs in the mid-to-high-end market [1] Future Outlook - Baolong Technology aims to continue investing in emerging businesses such as air suspension and ADAS (Advanced Driver Assistance Systems) to reinforce its "intelligent + lightweight" dual-drive strategy [1] - The second phase of the Hungarian factory construction has commenced, further enhancing production capacity in Europe [1]