Core Insights - Company reported a significant revenue growth of 59.95% year-on-year for H1 2025, driven primarily by performance advertising, which saw a 60.2% increase [1][2] - The company has enhanced its programmatic advertising capabilities, achieving a sevenfold increase in inference efficiency and reducing task execution time by over 30% [1][5] - The launch of the fully automated AI advertising system, AdsGo.ai, aims to democratize marketing capabilities for startups and growth-stage companies [1][6] Revenue Performance - For H1 2025, the company generated revenue of 1.737 billion yuan, with a net profit attributable to shareholders of 144 million yuan, reflecting an 8.81% increase year-on-year [2] - Q2 2025 revenue reached 808 million yuan, marking a 33.52% year-on-year increase, the highest for the same quarter since 2022 [3][4] - E-commerce advertising revenue doubled year-on-year in H1 2025, reaching 544 million yuan, driven by the expansion of e-commerce clients in non-US regions [3] Profitability Analysis - The overall profitability aligns with expectations, with a slight recovery in gross margin in Q2 2025, which increased by 2.3 percentage points year-on-year [4] - The decline in non-GAAP net profit is attributed to increased personnel costs and share-based payment expenses [4] - The company has established a deep partnership with Applovin, becoming its first e-commerce primary agent in Greater China, leveraging data and algorithms for enhanced marketing [4] Future Outlook - The company anticipates continued high growth in programmatic advertising, supported by algorithm upgrades and strategic partnerships [5] - Revenue projections for 2025-2027 are estimated at 3.737 billion, 4.809 billion, and 5.737 billion yuan, with year-on-year growth rates of 46.74%, 28.68%, and 19.31% respectively [6]
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