Core Insights - Company experienced a 13.2% decline in revenue for the first half of 2025, totaling approximately RMB 25.98 billion, primarily due to a drop in traditional ICT support business [1] - Emerging business sectors showed significant growth, particularly in AI large model applications, which saw a revenue increase of 76 times year-on-year, reaching approximately RMB 0.26 billion [3] Revenue Breakdown - ICT support business revenue was approximately RMB 21.18 billion, down 14.7% year-on-year [1] - Smart operation business revenue was approximately RMB 4.08 billion, down 8.8% year-on-year [1] - Despite a 26.3% decline in revenue from 5G private networks and applications to RMB 0.47 billion, order amounts increased by 51.7% to approximately RMB 0.82 billion [3] Cost Management and Profitability - Company implemented effective cost control measures, resulting in a gross profit of approximately RMB 7.83 billion, a 6.1% increase year-on-year, with a gross margin of 30.1%, up 5.4 percentage points [4] - Operating cash flow improved with a net outflow reduction of 35.3% year-on-year [4] Net Loss and Future Outlook - The net loss for the reporting period was approximately RMB 2.02 billion, but adjusted for one-time severance costs, the loss narrowed to about RMB 0.48 billion, an improvement from RMB 0.7 billion in the previous year [5] - Management expressed cautious optimism for the second half of the year, anticipating a significant performance improvement [8] Business Transformation Challenges - Traditional ICT support business faces ongoing transformation pressures, with revenue under strain due to cost-cutting measures from telecom clients [7] - Company is focusing on three growth engines: AI large model applications, 5G private networks, and smart operations, while also solidifying its foundation in the telecom sector [7] Shareholder Returns - The board proposed a dividend policy indicating a payout of 40% of annual net profit for the 2025 fiscal year, reflecting confidence in future profitability [8] - Financial data shows a total revenue of RMB 66.46 billion for 2024, a decrease from RMB 78.91 billion in 2023, with a return on equity of 8.20% [8]
亚信科技上半年营收25.98亿元 同比下降13.2% AI大模型业务增长76倍 毛利率30.1%