胜宏科技-2025 年第二季度营业利润与预期接近，但净利润未达标；毛利率成关注焦点

Flash | 更多资料加入知识星球：水木调研纪要 关注公众号：水木纪要 26 Aug 2025 16:32:06 ET │ 12 pages Victory Giant Tech (300476.SZ) 2Q25 Rev/OP Nearly Same to CitiE but NP Missed; GPM the Spotlight CITI'S TAKE VGT 2Q25 Rev/OP came nearly same to CitiE while NP missed by 7%, as we underestimated assets write-off and tax. We expect share price likely to react negatively given investors' bogeys of Rmb1.4bn at the mid-pt. Despite that, we believe VGT's print is tied to upstream CCL results (i.e., Doosan) and our industry check on compute & ...