事件：近日，虹软科技发布2025 年三季度报告。2025 年前三季度，公司实现营业收入6.28 亿元，同比 增长9.39%，归母净利润1.42 亿元，同比增长60.51%，扣非净利润1.13 亿元，同比增长44.53%；其中Q3 实现营收2.17 亿元，同比增长12.68%，归母净利润0.53 亿元，同比增长98.21%，扣非净利润0.41 亿 元，同比增长68.32%。 投资建议：虹软科技作为全球领先的计算机视觉人工智能企业，在移动智能终端、智能汽车业务受益于 新兴市场复苏带来预计稳定收入增量的同时，有望切入智能商拍蓝海市场打开全新增长曲线；预计公司 2025-2027 年营收分别为10.11、12.74、16.18 亿元，归母净利润分别为 2.34、3.13、4.44 亿元，2025年 10 月24 日收盘价对应市盈率92X、68X、48X，维持"推荐"评级。 移动智能终端业务稳健增长。2025 年前三季度，公司移动智能终端视觉解决方案实现营收5.12 亿元， 同比增长5.59%；Q3 当季度实现营收1.72 亿元，同比增长12.89%。智能手机领域，公司持续推进Turbo Fusion 技术和产品的迭代 ...

Core Viewpoint - Hongsoft Technology (688088) reported a strong performance in the first half of 2025, with revenue and profit growth, indicating robust development resilience and sustained growth momentum [1][2][3] Group 1: Financial Performance - In the first half of 2025, the company achieved operating revenue of 410 million yuan, a year-on-year increase of 7.73% [1] - The net profit attributable to shareholders was 89 million yuan, up 44.06% year-on-year [1] - The net profit after deducting non-recurring gains and losses was 72 million yuan, reflecting a year-on-year growth of 33.86% [1] Group 2: Business Segments - In the mobile smart terminal sector, the revenue from visual solutions reached 339 million yuan, growing by 2.23% year-on-year [1] - The AI glasses business is expanding through a dual strategy of "technology deepening + ecosystem co-construction," with partnerships established with leading chip manufacturers like Qualcomm [2] - The smart automotive and AIoT visual solutions generated revenue of 64.65 million yuan, marking a significant year-on-year increase of 49.09% [2] Group 3: Technological Advancements - The company upgraded its visual model ArcMuse 2025 V1.1, integrating cloud and edge engineering capabilities [3] - Hongsoft is actively developing core intelligent visual perception technologies for the robotics sector and has established technical collaborations with well-known global robotics companies [3] Group 4: Shareholder Returns - The company plans to distribute a cash dividend of 2.20 yuan per share (including tax), with a total cash distribution amounting to approximately 88.16 million yuan, reflecting a cash dividend ratio of 99.58% [3]