The Ping An Securities Research Report points out that North China Huachuang continues to increase investment in R&D to promote product iteration and market expansion. In the first half of 2026, the company achieved revenue of 20.061 billion yuan and net profit attributable to shareholders of listed companies of 3.37 billion yuan. Continue to increase investment in R&D to promote product iteration and market expansion; platform-based layout to steadily promote new product development and industrialization verification. The company actively lays out research and development of various high-end semiconductor devices, and continues to increase investment in R&D. In order to cope with the expansion of the market scale, the company combined the increase in the number of market development and customer service team personnel, as well as Xinyuan's micro sales expenses. Focusing on the platform-based strategic layout, the company is steadily advancing new product development and industrialization verification, and significant progress has been made on the product technology and application side. Maintain the company's “Recommended” rating.

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