Avary Holding received research visits from 221 institutions this week

Earnings
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Avary Holding hosted research visits from 221 institutional investors this week, making it one of the most visited A-share companies by institutions. A total of 72 listed companies received institutional research visits this week, with six companies hosting more than 100 institutions, and Avary Holding and Ninebot receiving over 200. Avary Holding's research and development expenses in the first half of the year reached 1.597 billion yuan, an increase of more than 500 million yuan year on year, with the proportion of operating revenue rising to 9.28 percent. The company's communications board business achieved revenue of 10.048 billion yuan, down 2.15 percent year on year, while gross margin rose 3.96 percentage points to 19.94 percent. The consumer electronics and computer board business achieved revenue of 4.742 billion yuan, down 8.36 percent year on year, while gross margin rose 1.02 percentage points to 25.54 percent. The automotive and server board business achieved revenue of 2.267 billion yuan, up 181.58 percent year on year, with AI server business revenue approaching 1 billion yuan and a gross margin of 37.42 percent for the segment. The company's overall gross margin was 23.82 percent, up 5.08 percentage points year on year. Avary Holding said its high-end HDI products have entered the AI server market and passed certification from mainstream server and cloud service providers, its SLP products have entered the 800G and 1.6T high-end optical module market and begun mass production and shipment, and its 3.2T products have entered the research and development stage. In the first half of the year, the optical module business achieved sales revenue of 626 million yuan, an increase of 11 times year on year.

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