Guosheng Securities: Maintains a "buy" rating for BlueFocus Technology, with continuous deepening of industry vertical integration.

Guosheng Securities research report pointed out that in the first half of the year, Lansite Technology's revenue and profitability both saw a significant increase, with steady growth in consumer electronics and smart automotive businesses. The company's performance continues to steadily improve, mainly due to the high-quality development of its main businesses such as consumer electronics and smart automotive, leading to further improvement in profitability. Looking at the single quarter of 25Q2, the company achieved a net profit attributable to shareholders of 710 million yuan, a year-on-year increase of 29.3% and a quarter-on-quarter increase of 66.4%. As a one-stop precision manufacturing solution provider for the intelligent terminal full industry chain, on the one hand, the company has an industrialization capability system supported by core technologies such as structural components and functional module. On the other hand, it has vertical integration capabilities of the full industry chain, and will benefit deeply from the development of AI technology in the future, with all business lines expected to grow comprehensively. The company's "buy" rating is maintained.