Core Viewpoint - The company, Huitongda Network Co., Ltd., reported significant improvements in profitability and operational efficiency for the first half of 2025, driven by a strategic focus on quality enhancement and innovation, marking a shift from scale expansion to sustainable development [1][2]. Financial Performance - The company achieved a revenue of RMB 24.342 billion in the first half of 2025, with operating profit increasing by 15.9% year-on-year to RMB 356 million and net profit attributable to shareholders rising by 10.8% to RMB 139 million [2]. - Gross margin improved by 1.1 percentage points to 4.6%, reflecting a substantial year-on-year growth of 31.4%, while net cash flow from operating activities surged by 65.7% to RMB 413 million [2]. Supply Chain Development - The revenue structure was optimized, with member retail store revenue accounting for 47% of total revenue, and the company advanced its "short chain + reverse" supply chain model [3]. - Collaborations with leading brands such as Gree, Midea, Haier, and Apple were deepened, and new partnerships with quality manufacturers were established, enhancing the supply of high-margin products [3]. - The company expanded its O2O business, achieving a 203% year-on-year growth and opening 1,804 O2O stores [3]. AI and SaaS Strategy - The service segment generated RMB 312 million, with AI-related services contributing approximately 20% of total service revenue, marking a new growth engine [4]. - The launch of the "Qiancheng AI Super Store Manager" app integrated over 24 AI agents, automating 60% of daily management tasks for member stores, leading to a 30% increase in operational efficiency [4][6]. AI Technology Integration - The company introduced the "Qiancheng Cloud AI," a vertical model tailored for rural commercial scenarios, enhancing AI capabilities across supply chain, store operations, and terminal services [5][6]. - A comprehensive AI empowerment system was established, linking over 500 factories for inventory management and optimizing supply chain response efficiency [6]. Social Responsibility and Recognition - The company maintained its position in the "Fortune China 500" and received multiple honors, including recognition as a "National Encouraged Key Software Enterprise" and "High-tech Enterprise," reflecting its growing influence and social recognition [7][8]. Future Strategy - The company plans to focus on high-quality growth by enhancing its smart supply chain and expanding into new consumer categories while solidifying its online and cross-border sales channels [9]. - A comprehensive AI and SaaS strategy will be implemented, emphasizing collaboration with Alibaba Cloud and accelerating the development of AI agents [9]. - The company aims to achieve steady improvements in gross and net margins while actively pursuing dividend plans to provide long-term value returns to shareholders [10].
汇通达网络(9878.HK)2025年中期业绩：盈利能力及现金流大幅提升、多项指标创历史最佳，AI驱动高质量增长、战略转型显成效