Ge Long Hui·2025-08-21 19:32Group 1 - The company's game business performance was below expectations, particularly the game "解限机," leading to a downward revision of revenue and net profit forecasts for 2025-2027 [1][2] - Revenue projections for 2025, 2026, and 2027 are estimated at 10.62 billion, 11.96 billion, and 13.38 billion yuan, reflecting year-on-year growth of 2.9%, 12.7%, and 11.8% respectively [1] - The company reported a Q2 2025 revenue of 2.307 billion yuan, which was below the Bloomberg consensus estimate of 2.456 billion yuan, representing a year-on-year decline of 6.7% [1][2] Group 2 - The company's net profit for Q2 2025 was 532 million yuan, showing a year-on-year increase of 35.4%, but operational profit was lower than expected at 383 million yuan [1][2] - The gross margin for Q2 2025 was 80.3%, down 2.2 percentage points year-on-year, attributed to reduced scale effects in the gaming sector and increased costs in WPS computing power leasing and bandwidth [1][2] - The WPS B-end business showed strong performance, with a year-on-year growth of 14%, and the AI monthly active users increased by 50% to 29.51 million [2]