Core Viewpoint - The company is experiencing steady growth in cloud transformation and AI project implementation, with expectations for significant valuation elasticity driven by potential inclusion in the Hong Kong Stock Connect [1] Group 1: Financial Performance - In H1 2025, the company achieved revenue of 4.34 billion, a year-on-year increase of 4.9%, and a net profit attributable to shareholders of 183 million, a year-on-year increase of 73.3% [1] - The company's gross margin improved to 23.4%, up 1.4 percentage points year-on-year, while R&D, management, and sales expense ratios decreased by 1.4, 0.3, and remained flat percentage points respectively [1] - The cloud business turned profitable for the first time in H1, reflecting a significant improvement in profitability across various segments [1] Group 2: AI and Cloud Business Growth - The company has implemented an "AI First" strategy, resulting in the development of AI applications across over 10 fields, with more than 100 ready-to-use intelligent agents [2] - The AI projects have been successfully deployed in benchmark projects such as intelligent procurement and financial shared services, enhancing the company's growth sustainability [2] - The focus on vertical agents allows for deeper model training and application, leveraging data for enhanced business outcomes [2]
浪潮数字企业(00596.HK)：AI项目场景更加丰富 看好公司业绩增长持续性