云从科技上半年净亏损收窄35.5%，薪酬总支出降幅近五成

Core Insights - CloudWalk Technology (stock code: 688327) reported a revenue of approximately 169 million yuan for the first half of 2025, representing a year-on-year growth of 40.21% [2][5] - The net loss attributable to shareholders was approximately -230 million yuan, with a year-on-year reduction of 35.5% [2][5] - The significant reduction in net loss was primarily due to cost-cutting measures, including a 48.05% decrease in total salary expenses during the reporting period [2][5][6] Financial Performance - Revenue growth was driven by the artificial intelligence solutions business, which saw a year-on-year increase of 59.24% [5] - The company achieved a total revenue of approximately 169 million yuan, with a notable increase in new signed orders [5][6] - The total salary expenditure for the reporting period was 90.87 million yuan, a significant decrease compared to the previous year [6] Cost Management - The company successfully reduced third-party service fees to 38.44 million yuan, a year-on-year decline of 45.37% [6] - The reduction in costs, alongside revenue growth, contributed to a significant decrease in losses compared to the previous year [6] Research and Development - The company maintained a focus on R&D despite ongoing losses, with a strategic balance between short-term profitability and long-term innovation [6] - R&D expenditure as a percentage of revenue decreased from 220.84% in the previous year to 73.83% in the current reporting period, a reduction of 147.01 percentage points [6] - R&D investment decreased by 55.11% year-on-year, reflecting a strategic adjustment in resource allocation [6] Personnel Changes - The company experienced a change in its core technical personnel, with Zhang Ling resigning for personal reasons, while the remaining team members are managing ongoing R&D activities effectively [7] - The number of R&D personnel decreased to 182 from 296 year-on-year, while the average salary for R&D staff fell from 284,000 yuan to 209,800 yuan [9]