According to the Pacific Securities Research Report, Huaqin Technology is the world's leading smart product platform enterprise, with a 3+N+3 multi-growth line layout. Along with the continuous enrichment of the company's product line, the company surpassed 100 billion in revenue in 24, a compound growth rate of 23.56% in 18-24, and a compound growth rate of 58.87% in 18-24. The company continued its high growth trend in 25Q1, and several product lines advanced significantly. Among them, the high-performance computing/smartphone/wearable business more than doubled year-on-year. Taking advantage of the domestic CSP computing power arms race, the company's server business built a strong growth pole. In addition, the company is expected to usher in business scale growth in the context of concentrated share in leading ODMs and strong customer shipments. Maintain a “buy” rating.

According to the Pacific Securities Research Report, Huaqin Technology is the world's leading smart product platform enterprise, with a 3+N+3 multi-growth line layout. Along with the continuous enrichment of the company's product line, the company surpassed 100 billion in revenue in 24, a compound growth rate of 23.56% in 18-24, and a compound growth rate of 58.87% in 18-24. The company continued its high growth trend in 25Q1, and several product lines advanced significantly. Among them, the high-performance computing/smartphone/wearable business more than doubled year-on-year. Taking advantage of the domestic CSP computing power arms race, the company's server business built a strong growth pole. In addition, the company is expected to usher in business scale growth in the context of concentrated share in leading ODMs and strong customer shipments. Maintain a “buy” rating.