Core Viewpoint - The company expects significant performance improvement in the second half of 2025, driven by three main growth engines, with a commitment to achieving annual targets despite challenges in the ICT support business [1][3][14] Financial Performance and Business Review - The company's revenue for the first half of 2025 was approximately RMB 2.598 billion, a year-on-year decrease of 13.2% [3] - Gross profit was about RMB 783 million, representing a 6.1% year-on-year increase, with a gross margin of 30.1%, up 5.4 percentage points [2][3] - Operating cash flow improved with a net outflow reduction of 35.3% year-on-year [3] - The AI large model application and delivery business saw explosive growth, with revenue of approximately RMB 26 million, a 76-fold increase year-on-year, and order amounts of about RMB 70 million, an increase of 78 times [2][5] - The 5G private network and application business generated revenue of approximately RMB 47 million, with order amounts of about RMB 82 million, a year-on-year increase of 51.7% [2][7] Business Strategy and Growth Engines - The company is focusing on AI large model applications, 5G private networks, and smart operations as its three main growth engines, aiming to accelerate order signing and revenue conversion [1][14] - The company has established partnerships with major players like Alibaba Cloud, Baidu Smart Cloud, and NVIDIA to create end-to-end industry solutions for AI large models [5] - In the 5G private network sector, the company has secured contracts with major clients, including the China National Nuclear Corporation, enhancing its market position [7] ICT Support Business - The company is actively addressing the challenges in the ICT support business by enhancing efficiency through AI tools, centralized procurement, and optimizing personnel structure [3][11] - Despite a 14.7% year-on-year decline in revenue to approximately RMB 2.118 billion, the company maintains a leading market share in the ICT support sector [11] - The company is transitioning its organizational structure to reduce delivery costs and improve operational efficiency [11] Future Outlook - The company anticipates that the second half of 2025 will outperform the first half, with a focus on solidifying its foundation in the communication industry and driving growth in its three key business areas [1][14] - The company plans to continue optimizing its business structure and accelerating revenue conversion in the smart operations sector [10][14]
亚信科技发布中期业绩：预计下半年三大增长引擎业务将加速增长