[Interim Performance Summary](index=1&type=section&id=Interim%20Performance%20Summary) [Overall Performance Overview](index=1&type=section&id=Overall%20Performance%20Overview) In the first half of 2025, the company experienced a decline in overall revenue and profit due to continuous cost reduction and efficiency improvement by major clients in the communications industry, while AI large model business achieved explosive growth, and cost control measures were effective 2025 H1 Key Performance Indicators | Indicator | 2025 H1 | YoY Change | | :--- | :--- | :--- | | **Operating Revenue** | **RMB 2.598 billion** | **-13.2%** | | ICT Support Business Revenue | RMB 2.118 billion | -14.7% | | Digital Intelligence Operations Business Revenue | RMB 0.408 billion | -8.8% | | 5G Private Network and Application Business Revenue | RMB 0.047 billion | -26.3% | | AI Large Model Application and Delivery Business Revenue | RMB 0.026 billion | +7600% (76x) | | **Net Loss** | **RMB 0.202 billion** | Loss widened | | Adjusted Net Loss* | RMB 0.048 billion | Loss narrowed (vs. RMB 0.07 billion loss in prior period) | - Despite revenue decline in some businesses in H1, new emerging business orders showed strong growth: AI large model business orders increased by **78 times** year-on-year, and 5G private network business orders increased by **51.7%** year-on-year, indicating significant market potential[5](index=5&type=chunk) - The company's strategy focuses on three growth engines: AI large model application and delivery, 5G private network and application, and digital intelligence operations, with accelerated order signing expected in H2 to drive full-year performance improvement[5](index=5&type=chunk) [Chairman's Report](index=2&type=section&id=Chairman%27s%20Report) [Overall Performance and Strategic Response](index=2&type=section&id=Overall%20Performance%20and%20Strategic%20Response) Facing pressure from major clients' (operators) cost reduction and efficiency improvement, the company's overall revenue and profit declined in H1, prompting a strategic adjustment to focus on AI large models, 5G private networks, and digital intelligence operations as key growth engines - The company proactively responded to market changes by establishing three growth engine strategies: AI large model application and delivery, 5G private network and application, and digital intelligence operations[6](index=6&type=chunk) 2025 H1 Financial Performance | Indicator | 2025 H1 | YoY Change | | :--- | :--- | :--- | | Operating Revenue | RMB 2.598 billion | -13.2% | | Gross Profit | RMB 0.783 billion | +6.1% | | Gross Profit Margin | 30.1% | +5.4 percentage points | | Net Cash Outflow from Operating Activities | - | Improved by 35.3% YoY | - The Board of Directors recommends a 2025 year-end dividend payout ratio of **40%** of the annual net profit attributable to shareholders, reflecting a commitment to shareholder returns[8](index=8&type=chunk) [Business Segment Performance](index=4&type=section&id=Business%20Segment%20Performance) The company's three growth engine businesses show mixed performance but optimistic prospects, with AI large model business achieving explosive growth, 5G private network business showing strong order growth despite revenue decline, and digital intelligence operations optimizing its structure [AI Large Model Application and Delivery Business](index=4&type=section&id=AI%20Large%20Model%20Application%20and%20Delivery%20Business) The AI large model business experienced explosive growth, establishing the company as an industry leader through first-mover advantage and high-quality delivery, with deep collaborations and successful benchmark cases across multiple industries AI Large Model Business H1 Performance | Indicator | Amount | YoY Growth | | :--- | :--- | :--- | | Revenue | RMB 0.026 billion | 76x | | Signed Orders | RMB 0.070 billion | 78x | - The company has established strategic collaborations with Alibaba Cloud, Baidu AI Cloud, NVIDIA, and AsiaInfo Security to jointly promote the industrialization of large models, with ample business opportunities[11](index=11&type=chunk) - The company has independently developed a series of toolsets for data quality governance, hallucination suppression, and multi-model scheduling to improve delivery quality and efficiency, building a technological barrier[10](index=10&type=chunk) [5G Private Network and Application Business](index=5&type=section&id=5G%20Private%20Network%20and%20Application%20Business) The 5G private network business continues to advance, with new signed orders increasing by over 50% year-on-year despite a revenue decline due to delayed nuclear power orders, solidifying its leading position in the nuclear power sector and achieving breakthroughs in new energy and mining - H1 revenue was approximately **RMB 0.047 billion**, a **26.3%** year-on-year decrease, mainly due to delayed confirmation of nuclear power orders, but signed orders increased by **51.7%** year-on-year, with high growth expected in H2[16](index=16&type=chunk) - In the nuclear power sector, the company holds the **number one market share** nationwide, serving 29 units across 7 nuclear power bases, and successfully expanded into Huaneng Group[14](index=14&type=chunk) - Progress was made in the new energy and mining sectors, covering over **210** new energy stations, and establishing a joint venture with Zhengzhou Coal Mining Machinery Group to explore new models for digital intelligence operations in mining[14](index=14&type=chunk)[15](index=15&type=chunk) [Digital Intelligence Operations Business](index=7&type=section&id=Digital%20Intelligence%20Operations%20Business) The digital intelligence operations business saw an 8.8% year-on-year revenue decline in H1 due to operator cost controls, but its business structure continues to optimize, with non-communications industry orders growing by 18.2%, and revenue based on results/revenue sharing increasing to 33.4% Digital Intelligence Operations Business H1 Performance | Indicator | Amount/Ratio | YoY Change | | :--- | :--- | :--- | | Revenue | RMB 0.408 billion | -8.8% | | Non-communications Industry Orders | - | +18.2% | | - Financial Sector Orders | - | +48.3% | | - Automotive Sector Orders | - | +5.3% | | - Consumer Sector Orders | - | +4.4% | | Revenue from Results/Revenue Sharing | 33.4% | +6.7 percentage points | [ICT Support Business](index=8&type=section&id=ICT%20Support%20Business) As the company's foundational business, ICT support revenue declined by 14.7% year-on-year in H1 due to overall investment reductions by operators, prompting the company to actively respond through AI empowerment, new client expansion, and cost reduction initiatives - H1 ICT support business revenue was approximately **RMB 2.118 billion**, a **14.7%** year-on-year decrease, primarily due to reduced investment by operator clients[21](index=21&type=chunk) - The company is offsetting the downward pressure on BSS business through AI empowerment, new client expansion, and joint development of government and enterprise markets with operators, while continuously advancing organizational transformation to reduce delivery costs[21](index=21&type=chunk) [Product Technology and Outlook](index=9&type=section&id=Product%20Technology%20and%20Outlook) The company continues to strengthen its technological leadership in "Cloud-Network," "Digital Intelligence," and "IT" product systems, fully promoting product evolution towards AI Native, actively participating in standard setting, and aiming to achieve full-year targets by accelerating order conversion for growth engines - The company focuses on "Cloud-Network," "Digital Intelligence," and "IT" product systems, fully promoting their evolution towards AI Native, providing technical support for the three growth engines[22](index=22&type=chunk) - In the digital intelligence domain, a product system of "2 large model platforms, 5 industry large models, and N industry intelligent agent tools" has been formed, with **240** accumulated successful cases[24](index=24&type=chunk) - As of June 2025, the company has participated in the formulation of **356** international/domestic standards, with **26** new additions in H1, continuously solidifying its industry technological influence[26](index=26&type=chunk) - The company expects H2 performance to be significantly better than H1, aiming to firmly achieve full-year targets by accelerating order signing[27](index=27&type=chunk) [Condensed Consolidated Financial Statements](index=13&type=section&id=Condensed%20Consolidated%20Financial%20Statements) [Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income](index=13&type=section&id=Condensed%20Consolidated%20Statement%20of%20Profit%20or%20Loss%20and%20Other%20Comprehensive%20Income) For the six months ended June 30, 2025, the company's revenue was RMB 2.598 billion, a 13.2% year-on-year decrease, but gross profit increased by 6.1% to RMB 0.783 billion due to effective cost control, while loss for the period widened to RMB 0.202 billion due to increased administrative expenses and expected credit losses Profit or Loss Statement Key Data (For the six months ended June 30) | Indicator (RMB Thousand) | 2025 | 2024 | | :--- | :--- | :--- | | Revenue | 2,597,875 | 2,994,262 | | Cost of Sales | (1,814,839) | (2,255,981) | | **Gross Profit** | **783,036** | **738,281** | | Administrative Expenses | (297,373) | (183,144) | | Research and Development Expenses | (414,863) | (436,012) | | Loss Before Tax | (236,524) | (91,392) | | **Loss for the Period** | **(202,329)** | **(70,131)** | | **Basic Loss Per Share (RMB)** | **(0.22)** | **(0.06)** | [Condensed Consolidated Statement of Financial Position](index=15&type=section&id=Condensed%20Consolidated%20Statement%20of%20Financial%20Position) As of June 30, 2025, the company's total assets were RMB 9.311 billion, a 11.3% decrease from year-end 2024, with total liabilities at RMB 3.153 billion and net assets at RMB 6.158 billion, maintaining a stable financial structure despite a significant decrease in cash and cash equivalents Balance Sheet Key Data (RMB Thousand) | Indicator | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | **Total Assets** | **9,311,376** | **10,499,966** | | Non-current Assets | 2,903,706 | 2,861,391 | | Current Assets | 6,407,670 | 7,638,575 | | **Total Liabilities** | **3,153,188** | **3,858,767** | | Current Liabilities | 2,810,280 | 3,461,615 | | Non-current Liabilities | 342,908 | 397,152 | | **Total Equity** | **6,158,188** | **6,641,199** | | Cash and Cash Equivalents | 612,693 | 1,618,100 | [Condensed Consolidated Statement of Cash Flows](index=18&type=section&id=Condensed%20Consolidated%20Statement%20of%20Cash%20Flows) In H1 2025, net cash used in operating activities was RMB 0.594 billion, a significant 35.3% improvement year-on-year due to enhanced sales collection and cost control, while net cash outflow from financing activities was RMB 0.417 billion, primarily for dividend payments, resulting in reduced cash and cash equivalents Cash Flow Statement Key Data (For the six months ended June 30, RMB Thousand) | Indicator | 2025 | 2024 | | :--- | :--- | :--- | | Net Cash Used in Operating Activities | (594,425) | (919,009) | | Net Cash From Investing Activities | 7,970 | 328,375 | | Net Cash Used in Financing Activities | (417,475) | (696,196) | | **Net Decrease in Cash and Cash Equivalents** | **(1,003,930)** | **(1,286,830)** | | **Cash and Cash Equivalents at End of Period** | **612,693** | **1,326,432** | [Management Discussion and Analysis](index=26&type=section&id=Management%20Discussion%20and%20Analysis) [Overall Operating Performance and Financial Analysis](index=26&type=section&id=Overall%20Operating%20Performance%20and%20Financial%20Analysis) In H1 2025, the company faced overall operational pressure with revenue declining by 13.2% to RMB 2.598 billion, but gross profit increased by 6.1% due to personnel adjustments and cost control, while net loss widened to RMB 0.202 billion primarily due to one-off severance payments 2025 H1 Performance Review | Indicator | 2025 H1 | YoY Change | | :--- | :--- | :--- | | Revenue | RMB 2.598 billion | -13.2% | | Gross Profit | RMB 0.783 billion | +6.1% | | Gross Profit Margin | 30.1% | +5.4 percentage points | | Net Loss | RMB 0.202 billion | Loss widened | | Adjusted Net Loss | RMB 0.048 billion | Loss narrowed | | Net Cash Used in Operating Activities | RMB 0.594 billion | Improved by 35.3% | - Administrative expenses increased by **62.4%** year-on-year to **RMB 0.297 billion**, primarily due to increased one-off severance payments from personnel structure adjustments[63](index=63&type=chunk) [Segment Revenue Analysis](index=27&type=section&id=Segment%20Revenue%20Analysis) The company's revenue decline was mainly driven by the largest segment, ICT support business, which saw a 14.7% year-on-year decrease due to operator cost reductions, while AI large model business was the sole highlight, achieving explosive growth and reaching 1.0% of total revenue Revenue Breakdown by Business Segment (For the six months ended June 30) | Business Type | 2025 Revenue (Thousand Yuan) | Share | 2024 Revenue (Thousand Yuan) | Share | | :--- | :--- | :--- | :--- | :--- | | ICT Support Business | 2,117,736 | 81.5% | 2,483,649 | 83.0% | | Digital Intelligence Operations Business | 407,647 | 15.7% | 447,001 | 14.9% | | 5G Private Network and Application Business | 46,652 | 1.8% | 63,277 | 2.1% | | AI Large Model Application and Delivery Business | 25,840 | 1.0% | 335 | 0.0% | | **Total Revenue** | **2,597,875** | **100.0%** | **2,994,262** | **100.0%** | [Financial Position and Cash Flow](index=29&type=section&id=Financial%20Position%20and%20Cash%20Flow) As of June 30, 2025, the company's financial position remains generally healthy with total assets of RMB 9.311 billion and net assets of RMB 6.158 billion, no bank borrowings, and a zero leverage ratio, while net cash used in operating activities significantly improved by 35.3% - As of June 30, 2025, the Group had **no bank borrowings**, and its leverage ratio was **zero**, indicating a robust financial structure[78](index=78&type=chunk) - Net cash used in operating activities significantly improved by **35.3%** year-on-year, primarily due to enhanced sales collection and strengthened cost control[81](index=81&type=chunk) Key Balance Sheet Item Changes | Indicator (RMB Billion) | June 30, 2025 | December 31, 2024 | Change | | :--- | :--- | :--- | :--- | | Cash and Cash Equivalents | 0.613 | 1.618 | -62.1% | | Trade Receivables and Bills Receivable | 1.785 | 2.065 | -13.6% | | Inventories | 0.412 | 0.275 | +49.9% | | Trade Payables and Bills Payable | 0.958 | 1.104 | -13.2% | [Other Information](index=33&type=section&id=Other%20Information) [Corporate Governance and Compliance](index=33&type=section&id=Corporate%20Governance%20and%20Compliance) The company is committed to maintaining high standards of corporate governance, having complied with all applicable provisions of the Corporate Governance Code during the reporting period, with the Audit Committee reviewing interim results and confirming effective risk management and internal control systems - The company has consistently complied with all applicable code provisions under the Corporate Governance Code during the reporting period[86](index=86&type=chunk) - The Audit Committee has reviewed the interim results and considers the company's risk management and internal control systems to be effective and adequate[90](index=90&type=chunk) - During the reporting period, neither the company nor any of its subsidiaries purchased, sold, or redeemed any of the company's listed securities[88](index=88&type=chunk)

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年7月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 亞信科技控股有限公司 呈交日期: 2025年8月4日 I. 法定/註冊股本變動 FF301 第 1 頁 共 11 頁 v 1.1.1 FF301 II. 已發行股份及/或庫存股份變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 01675 | 說明 | | | | | | | | | 已發行股份（不包括庫存股份）數目 | | 庫存股份數目 | | 已發行股份總數 | | | 上月底結存 | | | 937,322,880 | | 0 | | 937,322,880 | | 增加 / 減少 (-) | | | 941,236 | | 0 | | | | 本月底結存 | | | 938,264,116 | | 0 | | 938,264,116 | 第 ...

Group 1 - The core viewpoint of the news is that AsiaInfo Technologies (China) Co., Ltd. has applied for a patent for a resource adjustment method, device, and equipment, which aims to enhance resource scheduling algorithms through a comprehensive reward function and dynamic discount factors [1] - The patent application, published as CN120407199A, was filed on July 2025 and focuses on a system that quantifies the degree of constraint violation to implement flexible penalties and improve multi-dimensional reward expression [1] - The method involves obtaining the current state of the target system, executing actions to reach the next state, and calculating penalties and rewards to iteratively update the value function until convergence, thereby effectively adjusting resources [1] Group 2 - AsiaInfo Technologies (China) Co., Ltd. was established in 1995 and is based in Beijing, primarily engaged in internet and related services [2] - The company has a registered capital of 26.04 million USD and has invested in 16 enterprises, participated in 5,000 bidding projects, and holds 394 patents and 534 trademark information [2] - Additionally, the company possesses 13 administrative licenses, indicating a diverse portfolio and active engagement in various business activities [2]

Core Viewpoint - The article reports that AsiaInfo Technologies (China) Co., Ltd. has applied for a patent related to a method and device for generating understanding data for referential expressions, indicating the company's focus on advancements in data processing technology [1]. Company Overview - AsiaInfo Technologies (China) Co., Ltd. was established in 1995 and is located in Beijing, primarily engaged in internet and related services [1]. - The company has a registered capital of 26.04057 million USD [1]. - AsiaInfo has invested in 16 companies and participated in 5,000 bidding projects [1]. - The company holds 510 trademark records and 394 patent records, along with 13 administrative licenses [1]. Patent Details - The patent application, published as CN120411976A, was filed on July 2025 [1]. - The invention involves using a multimodal large language model to automatically generate text descriptions of specified categories from target detection images, which are then processed to create understanding data [1]. - The method includes calculating the intersection-over-union (IoU) between generated bounding boxes and target detection images to select the most relevant bounding box [1].

Core Viewpoint - AsiaInfo Technology (01675) has seen a stock price increase of over 5% after winning a bid for the construction of a 5G private network for China Huaneng Group's Hainan Changjiang Nuclear Power Phase II project, marking a significant expansion in its enterprise private network business [1] Group 1: Business Developments - AsiaInfo Technology has been awarded the contract to build a "fully domestically produced, safe, efficient, and controllable" high-quality 5G private network for the 3rd and 4th units of the Hainan Changjiang Nuclear Power Phase II project [1] - The collaboration with China Mobile will enhance AsiaInfo's capabilities in large enterprise private network solutions [1] Group 2: Technological Integration - AsiaInfo Technology has integrated its self-developed digital twin platform AISWare Digital Gemini, MaaS platform, and intelligent agent platform with NVIDIA's Omniverse, a 3D workflow and application platform [1] - This integration aims to facilitate the transformation of domestic manufacturing from "manufacturing" to "intelligent manufacturing," leveraging AsiaInfo's large model application delivery capabilities [1] - According to Zheshang Securities, the deep integration of AsiaInfo's advantages in communication networks and industrial know-how with Omniverse's physical AI capabilities is expected to provide closed-loop solutions for industries such as manufacturing and energy [1]

Group 1 - The core viewpoint of the article highlights that AsiaInfo Technology (01675) has seen a stock price increase of over 5% after winning a bid for the construction of a 5G private network for China Huaneng Group's Hainan Changjiang Nuclear Power Phase II project [1] - The company will collaborate with Hainan Mobile to build a "fully domestically produced, safe, efficient, and controllable" high-quality 5G private network for the 3rd and 4th units of the nuclear power plant, marking a new opportunity for expanding its enterprise private network business [1] - AsiaInfo Technology has integrated its self-developed digital twin platform AISWare Digital Gemini, MaaS platform, and intelligent agent platform with NVIDIA's Omniverse, aiming to facilitate the transformation of domestic manufacturing from "manufacturing" to "intelligent manufacturing" [1] Group 2 - According to Zheshang Securities, the deep integration with NVIDIA's Omniverse platform is expected to combine the company's advantages in communication networks and industrial know-how with Omniverse's physical AI capabilities, providing a closed-loop solution for perception, decision-making, and control in industries such as manufacturing and energy [1] - The digital twin platform of AsiaInfo Technology is anticipated to undergo a comprehensive reconstruction from a technological foundation to industrial value [1]

天眼查资料显示，亚信科技（中国）有限公司，成立于1995年，位于北京市，是一家以从事互联网和相 关服务为主的企业。企业注册资本2604.057万美元。通过天眼查大数据分析，亚信科技（中国）有限公 司共对外投资了16家企业，参与招投标项目5000次，财产线索方面有商标信息534条，专利信息394条， 此外企业还拥有行政许可13个。 金融界2025年8月1日消息，国家知识产权局信息显示，亚信科技（中国）有限公司申请一项名为"一种 基于DPI数据的网络拥塞预测方法及相关产品"的专利，公开号CN120416168A，申请日期为2025年07 月。 专利摘要显示，本申请公开了一种基于DPI数据的网络拥塞预测方法及相关产品。首先可以确定目标网 络系统中使用用户人数占比最高的业务的为目标业务。获取目标网络系统中的目标业务的待预测网络流 量数据，并将待预测网络流量数据输入到拥塞预测模型中进行网络拥塞预测，得到状态预测结果，拥塞 预测模型基于目标网络系统中各个业务的网络流量基础数据表和网络管理基础数据表的全量数据，以及 历史业务拥塞表现标签，对Prophet模型进行模型训练得到。再输出状态预测结果。 本文源自：金融界 作者：情 ...

作者：情报员 天眼查资料显示，亚信科技（中国）有限公司，成立于1995年，位于北京市，是一家以从事互联网和相 关服务为主的企业。企业注册资本2604.057万美元。通过天眼查大数据分析，亚信科技（中国）有限公 司共对外投资了16家企业，参与招投标项目5000次，财产线索方面有商标信息534条，专利信息392条， 此外企业还拥有行政许可13个。 本文源自：金融界 金融界2025年8月1日消息，国家知识产权局信息显示，亚信科技（中国）有限公司取得一项名为"一种 推荐智能体系统、推荐方法和推荐装置"的专利，授权公告号CN119149821B，申请日期为2024年11月。 ...

金融界2025年8月1日消息，国家知识产权局信息显示，亚信科技（中国）有限公司取得一项名为"一种 UPF过负荷控制处理的方法及相关装置"的专利，授权公告号CN119255303B，申请日期为2024年12月。 天眼查资料显示，亚信科技（中国）有限公司，成立于1995年，位于北京市，是一家以从事互联网和相 关服务为主的企业。企业注册资本2604.057万美元。通过天眼查大数据分析，亚信科技（中国）有限公 司共对外投资了16家企业，参与招投标项目5000次，财产线索方面有商标信息534条，专利信息392条， 此外企业还拥有行政许可13个。 本文源自：金融界 作者：情报员 ...

Core Viewpoint - AsiaInfo Technology (01675) has seen a significant stock price increase, attributed to its integration of self-developed digital twin platform AISWare Digital Gemini and other platforms with NVIDIA's Omniverse, aiming to enhance the transformation of domestic manufacturing from "manufacturing" to "intelligent manufacturing" [1] Group 1: Company Developments - AsiaInfo Technology's stock rose over 9% during trading, currently up 6.17% at HKD 11.34, with a trading volume of HKD 224 million [1] - The company plans to deepen the integration of its digital twin platform with NVIDIA's Omniverse, focusing on industrial manufacturing and actively expanding its market presence [1] - AsiaInfo Technology aims to empower more domestic and international clients through the integration of its platforms and solutions [1] Group 2: Industry Insights - Zheshang Securities believes that the integration with NVIDIA's Omniverse platform will accelerate penetration in the physical AI era, creating a new industrial ecosystem [1] - The combination of AsiaInfo Technology's advantages in communication networks and industrial know-how with Omniverse's physical AI capabilities is expected to provide closed-loop solutions for industries such as manufacturing and energy [1] - The digital twin platform is anticipated to undergo a comprehensive reconstruction from a technological foundation to industrial value [1]