Core Viewpoint - The company reported a significant increase in revenue for the first half of 2025, driven by its focus on AI-native products and services, particularly in the areas of AI model applications and digital operations [1][2][3] Financial Performance - The company achieved approximately RMB 2.598 billion in revenue for the first half of 2025, with ICT support business revenue at about RMB 2.118 billion, digital operations revenue at approximately RMB 408 million, and AI model applications revenue at RMB 26 million, reflecting a 76-fold year-on-year increase [1] - The order amount for the first half of the year was approximately RMB 820 million, representing a 51.7% year-on-year growth [1] Business Strategy - The company plans to maintain a steady growth strategy, focusing on three main growth engines: AI model applications, 5G private networks, and digital operations, while accelerating order conversion [2][3] - The company aims to optimize its business structure by integrating AI and intelligent agent technologies into its digital operations, promoting a results-based payment innovation model [2] Market Outlook - The company expects its performance in the second half of the year to significantly exceed that of the first half, driven by an accelerated signing pace [3] - The company anticipates that AI model applications and 5G private networks will continue to experience rapid growth over the next three years, potentially reaching a scale comparable to that of a small telecommunications operator [15][16] Competitive Advantage - The company emphasizes its strong understanding of complex application scenarios and its extensive experience in delivering AI model applications across various industries, which positions it favorably against competitors [7][8] - The company has established partnerships with leading clients in multiple sectors, including energy, manufacturing, retail, and transportation, enhancing its market position [4][5] Organizational Changes - The company has restructured its business classification to improve clarity and focus on growth areas, specifically separating AI model applications, 5G private networks, and digital operations into distinct business units [9][10] - The company has optimized its personnel structure, reducing staff in traditional ICT areas while hiring experts in AI and digital operations to support new business growth [10][11] Industry Expansion - The company is actively expanding into non-telecommunications sectors, identifying industries with strong demand for new business solutions, such as energy, petrochemicals, and healthcare [19][21] - The company aims to achieve a balanced revenue structure, targeting a 50:50 split between telecommunications and non-telecommunications markets in the coming years [22]
亚信科技：工具迭代、行业专业知识、交付团队三方面夯实大模型交付能力，长期业务毛利率有望超50%