Open source securities: maintain a "buy" rating on Huaying Technology, "3+N+3" strategy drives diversified business growth.

The open source securities research report pointed out that Huawei Technology's performance in 2025 will see high growth, with the "3+N+3" strategy driving diversified business growth. The company is expected to achieve a revenue of 1714.37 billion yuan in 2025, a year-on-year increase of 56.02%; with a net profit attributable to shareholders of 40.54 billion yuan, a year-on-year increase of 38.55%. It is believed that the increase in storage prices will have limited impact on the company's mobile terminal/AIoT business, as the company's hypernode technology is industry-leading, and the data center business will fully benefit from the growing demand for domestic computing power. Innovative businesses such as automotive electronics and robotics are also expected to create a new growth curve. The mobile terminal is experiencing rapid growth, maintaining the top market share, with a wide AIoT layout to solidify the business foundation. In terms of data center business, the company's revenue has nearly doubled, experiencing multiple-fold growth for four consecutive years. In terms of software business, providing comprehensive ecological solutions for consumer electronics, automotive, and smart industry, offering cross-system customized solutions. The mobile terminal maintains high growth, the data center/innovative business creates a new growth curve, maintaining a "buy" rating.