首次披露AI商业化收入，微盟实现自2022年以来的首次扭亏｜最前线

Core Insights - Weimob Group reported a total revenue of 775 million yuan for the first half of 2025, with an adjusted year-on-year increase of 7.8% after accounting for the impact of reduced rebate rates for merchant solutions [1] - The adjusted EBITDA reached 72 million yuan, marking a year-on-year increase of 140.7%, achieving profitability for the first time since 2022 [1] - The adjusted net profit was 17 million yuan, reflecting a year-on-year increase of 109.0%, marking the first profit since 2021 [1] Financial Performance - Total gross profit amounted to 582 million yuan, with an adjusted year-on-year growth of 36.1%, and the gross margin increased from 66.4% to 75.1%, a rise of 8.7 percentage points [1] - Operating cash flow showed a slight outflow of approximately 28 million yuan, while cash and bank deposits stood at about 1.574 billion yuan as of June 30, 2025, indicating a healthy overall financial status [1] AI Business Development - Weimob's AI-related revenue reached approximately 34 million yuan, benefiting from significant growth in AI commercialization [2] - The subscription solution revenue was 438 million yuan, showing a quarter-on-quarter increase of 1.38%, indicating a stabilization and recovery phase [1][2] - Merchant solutions revenue was 338 million yuan, with a year-on-year growth of 45.3% after adjusting for the impact of reduced rebate rates, and the gross margin increased from 74.5% to 91.3% [1] AI Application and Market Strategy - Weimob's AI business has expanded over three years into four areas, including WAI SaaS, WAI Pro, WIME, and WAI PaaS OEM, covering various sectors such as e-commerce and retail [2] - The WIME platform has seen a 139% increase in registered users, reaching 116,000, with a 172% increase in revenue [2] - Weimob's AI capabilities are designed to optimize the retail industry's "people, goods, and environment" aspects, enhancing operational efficiency through automated solutions [3] Future Outlook - The company plans to actively promote the application of AI Agents and continue developing the WeChat e-commerce ecosystem, focusing on social commerce and local life market opportunities [4] - Weimob aims to explore international markets, particularly in North America, to further expand its business [4]