华数传媒：7月25日接受机构调研，国诚投资参与

Core Viewpoint - The company, Huashu Media, reported stable financial performance for the first half of 2025, with revenue growth driven by its broadcasting 5G and digital tourism businesses, alongside the impact of tax exemption policies on net profit [2]. Financial Performance - In the first half of 2025, the company achieved operating revenue of 4.435 billion yuan, a year-on-year increase of 2.07% - The net profit attributable to shareholders was 254 million yuan, reflecting a year-on-year growth of 4.63% [2]. Business Developments - The "Poetry and Painting Zhejiang Cultural Tourism Benefit Card" was launched at a price of 199 yuan, featuring over 120 scenic spots and various benefits valued at over 12,000 yuan [3]. - The card has sold over 300,000 units, with ongoing focus on user experience and technological upgrades [3]. 5G Business Growth - The company has over 2.4 million users in its broadcasting 5G sector and is enhancing its integrated service offerings, including "TV + Broadband + 5G + Smart Home" products [3]. Advertising Revenue Sources - The company has developed a new media matrix for advertising, integrating various platforms such as interactive TV and outdoor screens, and is exploring collaborations for urban marketing [4]. Artificial Intelligence Initiatives - The company is focusing on AI applications across various sectors, including government and enterprise empowerment, content production, and smart home services [5]. - A joint laboratory with Zhejiang University was established to explore the integration of culture and technology, aiming to develop personalized digital content generation services [5]. Main Business Areas - Huashu Media's core business includes cable television network services, new media operations nationwide, broadband network and smart city digitalization, and broadcasting 5G services [5]. Recent Financial Data - In Q1 2025, the company reported main revenue of 2.119 billion yuan, a year-on-year increase of 3.62% - The net profit attributable to shareholders was 131 million yuan, up 17.16% year-on-year, with a debt ratio of 46.49% [5].