Group 1 - The core viewpoint of the news is that Mai Fushi (02556) expects to turn a profit in the first half of 2025, with a projected net profit attributable to shareholders of approximately RMB 31.8 million to RMB 41 million, compared to a net loss of approximately RMB 820 million in the same period last year [1] - The increase in demand for AI in the market is driving revenue growth in the AI + SaaS business, leading to an increase in gross profit for the group [1] - The company is experiencing a new phase of commercialization for its AI Agent products, with continuous launches of AI-Agentforce products driving profit growth [1] Group 2 - The SaaS sector is expected to grow rapidly, with the market size projected to reach RMB 155.6 billion by 2027, reflecting a compound annual growth rate (CAGR) of 28.6% from 2022 to 2027 [1] - The marketing and sales SaaS solutions market is anticipated to grow from RMB 20.6 billion in 2022 to RMB 74.5 billion by 2027, with a CAGR of 29.3% [2] - The AI Agent business model is shifting from "providing tools" to "delivering value," presenting investment opportunities for SaaS companies that are leading in AI Agent deployment [3] Group 3 - Relevant Hong Kong-listed SaaS companies include Mai Fushi (02556), Weimeng Group (02013), Youzan (08083), Kingdee International (00268), Xuanwu Cloud (02392), Weishijiajie (00856), and Shiteng Holdings (02562) [4]

Group 1 - The core viewpoint of the article is that Mai Fushi (02556) expects to turn a profit for the six months ending June 30, 2025, with a projected net profit attributable to shareholders of approximately RMB 31.8 million to RMB 41 million, compared to a net loss of approximately RMB 820 million in the same period last year [1] - The increase in demand for AI in the first half of 2025 is driving revenue growth in the AI + SaaS business, leading to an increase in gross profit for the group [1] - The company is implementing AI tools internally, which has improved overall operational efficiency, resulting in a decrease in sales, administrative, and R&D expenses [1] Group 2 - The company is entering a new phase of commercialization for its AI Agent products, with successful implementations and continuous launches of AI Agent products such as AI-Agentforce and AI-Agentforce 2.0, which are expected to be core growth drivers for profits [1] - According to Sullivan data, China's IT spending as a percentage of GDP was 2.6% in 2022, significantly lower than the global average of 4.7% and the U.S. figure of 7.2%, indicating substantial room for growth in IT spending [1] - The SaaS sector is rapidly developing and is expected to reach RMB 155.6 billion by 2027, with a compound annual growth rate of 28.6% from 2022 to 2027 [1] Group 3 - The marketing and sales SaaS market is projected to grow from RMB 20.6 billion in 2022 to RMB 74.5 billion by 2027, with a compound annual growth rate of 29.3% [3] - Companies are more willing to pay for marketing and sales SaaS solutions compared to other solutions focused on backend operational efficiency, as these solutions can significantly enhance customer acquisition and revenue growth [2] Group 4 - China Galaxy Securities reports that the business model of AI Agents is shifting from "providing tools" to "delivering value," presenting a revaluation opportunity for SaaS companies [4] - With the increasing monthly active users of AI applications overseas and the continuous growth in token demand, there is a positive cycle between AI computing power and applications, suggesting investment opportunities in domestic NV chain-related companies [4] - It is recommended to focus on vertical industry SaaS companies that are leading in AI Agent deployment, as the investment opportunities in these companies are expected to increase [4] Group 5 - Relevant Hong Kong-listed SaaS companies include Mai Fushi (02556), Weimob Group (02013), Youzan (08083), Kingdee International (00268), Xuanwu Cloud (02392), Weishijiajie (00856), and Shiteng Holdings (02562) [5]

Core Viewpoint - The company is expected to turn a profit in the first half of 2025, with a projected net profit attributable to shareholders ranging from approximately RMB 31.8 million to RMB 41 million, compared to a net loss of about RMB 820 million in the same period last year [1] Group 1: Financial Performance - The company anticipates a significant improvement in financial performance due to increased demand in the AI market, leading to sustained revenue growth in its AI + SaaS business [1] - The internal application of AI tools has enhanced overall operational efficiency, resulting in a decrease in sales, administrative, and R&D expenses [1] Group 2: Market Trends - The AI Agent product is entering a new phase of commercialization in 2025, with successful implementations and continuous product launches driving profit growth [1] - According to statistics from Sullivan, China's IT spending as a percentage of GDP was 2.6% in 2022, significantly lower than the global average of 4.7% and the U.S. figure of 7.2%, indicating substantial growth potential in IT spending [1] - The SaaS sector is rapidly developing and is expected to reach RMB 155.6 billion by 2027, with a compound annual growth rate (CAGR) of 28.6% from 2022 to 2027 [1] Group 3: SaaS Market Insights - The marketing and sales SaaS market is projected to grow from RMB 20.6 billion in 2022 to RMB 74.5 billion by 2027, with a CAGR of 29.3% [3] - The business model of AI Agents is shifting from "providing tools" to "delivering value," presenting opportunities for value reassessment in SaaS companies [3] - There is a recommendation to focus on domestic companies related to the NV chain and ByteDance's ecosystem partners, as they have established advantages in the AI application ecosystem [3] Group 4: Related Companies - Relevant Hong Kong-listed SaaS companies include Mifutimes (02556), Weimob Group (02013), Youzan (08083), Kingdee International (00268), Xuanwu Cloud (02392), Wisesoft (00856), and Lion Holdings (02562) [4]

Performance Highlights - BeiGene (06160.HK) reported a revenue of 17.518 billion yuan for the first half of the year, a year-on-year increase of 46%; product revenue was 17.36 billion yuan, up 45.8%; net profit was 450 million yuan, turning from loss to profit [2] - Uni-President China (00220.HK) achieved approximately 17.087 billion yuan in revenue for the first half, a year-on-year increase of 10.6%; net profit was about 1.287 billion yuan, up 33.2% [2] - Zhiyu City Technology (09911.HK) announced a positive profit forecast, expecting mid-term revenue of approximately 3.135 to 3.215 billion yuan, a year-on-year increase of about 38.0% to 41.5%; net profit is expected to be around 470 to 510 million yuan, a year-on-year growth of approximately 108.9% to 126.7% [2] Earnings Forecasts - New World Development Company (00086.HK) expects mid-term net profit to increase to no less than 800 million HKD year-on-year [3] - Weizhi Jinkou (02003.HK) anticipates mid-term net profit exceeding 200 million HKD, a significant increase year-on-year [3] - Wing Chan Industrial (01596.HK) forecasts mid-term net profit of approximately 48.7 million HKD, turning from loss to profit [3] - Huaxian Optoelectronics (00334.HK) expects mid-term net profit to exceed 48.8 million HKD, a year-on-year increase of over 600% [3] - Maifushi (02556.HK) predicts mid-term net profit of approximately 31.8 to 41 million HKD, turning from loss to profit [4] - Xinwei Medical-B (06609.HK) expects mid-term net profit to exceed 40 million HKD, turning from loss to profit [5] - China Nuclear Technology (00611.HK) anticipates mid-term net profit growth of over 15% [6] Earnings Warnings - Hongxing Printing Group (00450.HK) expects mid-term net loss of approximately 49 million HKD, a significant increase year-on-year [7] - Zhongyu Land (01224.HK) forecasts mid-term net loss of approximately 40 million HKD, turning from profit to loss [7] - Beihai Group (00701.HK) anticipates mid-term net loss of 36 to 40 million HKD [8] Real Estate Sales Data - China Overseas Development (00688.HK) reported cumulative contract property sales of approximately 132 billion yuan for the first seven months, a year-on-year decrease of 18.3% [9] - Yuexiu Property (00123.HK) achieved cumulative contract sales of approximately 67.506 billion yuan for the first seven months, a year-on-year increase of about 11.7% [9] - Poly Property Group (00119.HK) reported contract sales of approximately 29.5 billion yuan for the first seven months, a year-on-year decrease of 13.49% [10] - China Overseas Hongyang Group (00081.HK) reported cumulative contract sales of 18.649 billion yuan for the first seven months, a year-on-year decrease of 12.2% [10] - Jindi Commercial Real Estate (00535.HK) reported cumulative contract sales of approximately 6.98 billion yuan for the first seven months, a year-on-year decrease of 37.37% [10] - Agile Group (03383.HK) reported pre-sale amount of approximately 5.69 billion yuan for the first seven months [11] - Hongyang Real Estate (01996.HK) reported cumulative contract sales of 3.208 billion yuan for the first seven months, a year-on-year decrease of 41.6% [12] - Zhengrong Real Estate (06158.HK) reported cumulative contract sales of approximately 2.701 billion yuan for the first seven months, a year-on-year decrease of 30.6% [12] - Jingrui Holdings (01862.HK) reported cumulative contract sales of approximately 571 million yuan for the first seven months, a year-on-year decrease of 52.54% [13] Company News - CITIC Securities (06030.HK) reported that its subsidiary, Huaxia Fund, achieved revenue of 4.258 billion yuan and net profit of 1.123 billion yuan in the first half, with assets under management totaling 285.1237 billion yuan [14] - Xinyi International (00732.HK) reported a cumulative operating revenue of approximately 9.566 billion HKD for the first seven months, a year-on-year decrease of about 5.3% [15] - Heng Rui Pharmaceutical (01276.HK) received orphan drug designation from the US FDA for its injection of Rikan Trastuzumab combined with Adebali for gastric cancer or gastroesophageal junction adenocarcinoma indications [15] - Fuhong Hanlin (02696.HK) completed the first patient dosing in a Phase II clinical study of HLX79 injection combined with Hanlikang® for active renal glomerulonephritis in China [15] - China Biopharmaceutical (01177.HK) announced that its self-developed TQ05105 (JAK/ROCK inhibitor) has been included in the breakthrough therapy designation program for the treatment of chronic graft-versus-host disease [15] Buyback Activities - HSBC Holdings (00005.HK) repurchased approximately 1.65 billion HKD worth of about 1.714 million shares at a price of 95.8 to 96.75 HKD [16] - Hang Seng Bank (00011.HK) spent approximately 22.6347 million HKD to repurchase 200,000 shares at a price of 112.8 to 113.6 HKD [17] - Yum China (09987.HK) repurchased approximately 6.264 million HKD worth of 16,800 shares at a price of 369.8 to 376 HKD [17]

Core Viewpoint - The company, MaiFus (02556), has announced a positive earnings forecast, projecting a net profit attributable to shareholders of between RMB 31.8 million and RMB 41 million for the first half of 2025, marking a strong turnaround from losses in the previous year [1] Financial Performance - The significant improvement in net profit is attributed to the successful listing on the Hong Kong Stock Exchange in May 2024, which has led to a substantial reduction in the fair value changes of convertible redeemable preferred shares and listing expenses compared to the same period last year [1] - The company expects a notable decrease in expenses, contributing to enhanced profitability [1] Business Growth Drivers - The continuous growth in AI market demand has directly boosted the revenue of the AI + SaaS business segment [1] - The implementation of AI tools has systematically optimized operational processes, leading to a significant reduction in sales, management, and R&D expenses, further strengthening the company's profitability [1]

相关事件 迈富时(02556.HK)预计上半年度将扭亏为盈 录得公司拥有人应占净利润约3180万元-4100万元 迈富时 (2556.HK)：AI推动SAAS与营销业务协同发展 迈富时释放成长潜力 格隆汇8月6日丨迈富时(02556.HK)公布，预期截至2025年6月30日止六个月将扭亏为盈，录得公司拥有 人应占净利润介于约人民币3180万元至人民币4100万元，去年同期公司拥有人应占净亏损约人民币 8.202亿元。 截至2025年6月30日止六个月，公司拥有人应占净利润的预期增长主要由于：(i)集团于2024年5月完成股 份在香港联合交易所上市，因此截至2025年6月30日止六个月上市费用及可转换可赎回优先股的公允价 值变动的影响为零，较去年同期大幅减少；(ii)2025年上半年AI市场需求增加，带动AI+SaaS业务收入持 续增长，使集团毛利增加；及(iii)集团内部应用AI工具，带来集团整体运营效率持续提升，致使销售费 用、行政费用及研发费用下降。 ...

邁 富 時 管 理 有 限 公 司 （ 於 開 曼 群 島 註 冊 成 立 的 有 限 公 司 ） （股份代號：2556） 內幕消息 盈利預告 本公告乃由邁富時管理有限公司（「本公司」，連同其附屬公司及其綜合聯屬實 體，統稱「本集團」）根據香港聯合交易所有限公司證券上市規則（「上市規則」）第 13.09(2)條及香港法例第571章證券及期貨條例第XIVA部內幕消息條文（定義見上 市規則）作出。 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何 部分內容而產生或因倚賴該等內容而引致之任何損失承擔任何責任。 Marketingforce Management Ltd 股東及潛在投資者於買賣本公司證券時務請審慎行事。 承董事會命 邁富時管理有限公司 董事長兼首席執行官 趙緒龍 香港，2025年8月6日 於本公告日期，本公司董事為：董事長、執行董事兼首席執行官趙緒龍先生、執行 董事許健康先生、非執行董事趙芳琪女士以及獨立非執行董事楊濤先生、秦慈先 生及陳晨先生。 本公司董事（「董事」）會（「董事會」）謹此知會本公司股東（「 ...

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: 邁富時管理有限公司 呈交日期: 2025年8月1日 I. 法定/註冊股本變動 | 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) | 02556 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 100,000,000,000 | USD | 0.0000005 | USD | | 50,000 | | 增加 / 減少 (-) | | | | | | USD | | | | 本月底結存 | | | 100,000,000,000 | USD | 0.0000005 | USD | | 50,000 | 本月底法定/註冊股本總額： USD 50,00 ...

东方证券指出，看好下半年垂类AI产品用户增长和商业化闭环提速，考虑到目前海外AI付费习惯和意 愿更好，该行认为应重视国内有海外AI应用布局的公司，商业化起量或超预期。中信证券此前表示， H20解禁有望提振头部厂商CAPEX投入节奏，叠加从模型迭代到应用爆发的多重催化，下半年AI主线 具备充分投资机遇。 消息面上，近期，AI应用迎来多重催化。7月26日，2025世界人工智能大会（WAIC 2025）在上海拉开 帷幕。具身智能、智能体、AI眼镜等AI应用方向获得了较高关注度。此外，阿里通义千问，智谱近日 相继发布最新大模型。阿里开源了通义千问最新的编程大模型Qwen3-Coder。该模型在代码能力和智能 体能力方面取得重大突破，超越GPT4.1等闭源模型，比肩全球最强的编程模型Claude4；智谱发布新一 代旗舰模型GLM-4.5，并在HuggingFace与ModelScope平台同步开源。此外，OpenAI计划于8月推出新版 旗舰大模型GPT-5。 智通财经APP获悉，AI概念股走势强劲，截至发稿，美图公司(01357)涨13.05%，报12.3港元；金蝶国际 (00268)涨9.92%，报18.4港元；汇量 ...

Industry Overview - The artificial intelligence agent industry in China is defined as software systems driven by large language models (LLMs) that integrate various plugins to make autonomous decisions and learn from their environment [1] - The industry has formed a complete system covering the foundational, technical, and application layers, with hardware and computing power providers at the base, model providers in the middle, and application developers and service providers at the downstream [2][5] Market Size and Growth - In 2023, the AI agent market in China reached 55.4 billion yuan, with projections to grow to 852 billion yuan by 2028, reflecting a compound annual growth rate (CAGR) of 72.7% [12] - The demand structure for AI agents is diverse and rapidly growing, with the intelligent customer service market exceeding 7 billion yuan in 2023 and expected to reach 18.13 billion yuan by 2027, a CAGR of over 27% [13] Development Trends - The AI agent industry is still in its early stages, evolving from simple chatbots to more complex agents capable of autonomous reasoning and decision-making [8] - The penetration rate of AI agents in enterprises is currently below 5% but is expected to rise to 25% for large enterprises and 15% for small and medium-sized enterprises by 2028 [15] Policy Background - Since 2015, the Chinese government has been promoting AI technology development and application through a comprehensive policy framework that includes ethical norms and data security [10][11] Competitive Landscape - The competitive landscape is characterized by a concentration of leading companies such as Alibaba, Tencent, and Baidu, which dominate the large model layer, while vertical players focus on specific industry applications [21][24] - Initial companies are leveraging technological breakthroughs and innovative models to disrupt the industry, with examples like Manus and Dify gaining significant traction [25] Future Outlook - The AI agent market is expected to experience significant growth, with industrial and medical applications showing strong potential due to the rapid release of smart manufacturing and automation needs [27] - Key technological breakthroughs in multi-modal interaction, autonomous decision-making, and multi-agent collaboration are critical for the industry's future development [30]