SERVYOU(SH:603171) Xin Lang Cai Jing·2025-08-21 08:33Core Insights - The company reported a steady revenue growth of 13.25% year-on-year for H1 2025, reaching 922 million yuan, while the net profit attributable to shareholders decreased by 19.52% to 71 million yuan [1] - The gross margin declined to 59.06%, down 2.05 percentage points from the previous year, indicating potential cost pressures [1] - The company’s cash flow from operations was negative at -322 million yuan, worsening from -284 million yuan in the same period last year [1] Business Segments - The smart finance and taxation business generated 620 million yuan in revenue, an increase of 11.95% year-on-year, with active enterprise users growing by 10.28% to 11.8 million [2] - AI-driven products and services accounted for 26.59% of the smart finance and taxation business revenue, totaling 165 million yuan [2] - The company is enhancing its service capabilities through a three-tier value system in smart finance, focusing on practical tax services, compliance, and operational empowerment [3] Digital Services - The digital government business achieved revenue of 300 million yuan, reflecting a growth of 16.60% year-on-year, with data value services and products growing by 17% [4] - The company is positioning itself as a smart model service provider in the industry by developing the "Xiyou" AI platform and tax domain models [5] Financial Forecast - Revenue projections for 2025-2027 are estimated at 2.3 billion, 2.851 billion, and 3.907 billion yuan, with year-on-year growth rates of 18.22%, 23.95%, and 37.04% respectively [6] - The net profit attributable to shareholders is forecasted to be 147 million, 588 million, and 996 million yuan for the same period [6]