Yowant Technology(SZ:002291) Sou Hu Cai Jing·2025-09-09 13:14Core Viewpoint - The company has decided to terminate two fundraising projects, reallocating the remaining funds to supplement working capital due to rapid advancements in AI technology and a shift in business focus towards social e-commerce and self-owned brands [1][3][4]. Fundraising Projects Summary - The company announced the termination of the "YOWANT Digital Marketing Cloud Platform Construction Project" and the "Innovation Technology Research Institute Construction Project," reallocating unused funds to working capital [1][2]. - The total amount raised through a private placement was 2.972 billion yuan, with a net amount of 2.921 billion yuan after deducting issuance costs [1][2]. - The remaining funds for the terminated projects amount to 766 million yuan, which will be used for daily operations [1][2]. Financial Performance Summary - In the first half of the year, the company reported revenue of 1.896 billion yuan, a decrease of 36.32% year-on-year, primarily due to increased competition and the closure of unprofitable IPs and offline stores [4][6]. - The net loss attributable to shareholders was 253 million yuan, a decline of 15.60% compared to the previous year [4][6]. - The company has experienced continuous losses over the past four years, with cumulative losses reaching 3 billion yuan from 2021 to 2024 [8][10]. Business Focus and Strategy - The company is shifting its focus towards social e-commerce operations and self-owned brand development, leading to a reduced emphasis on the digital marketing cloud platform project [3][4]. - The company plans to enhance its self-developed AI system "V5chat" and increase the proportion of in-house R&D personnel to reduce reliance on external software [3][4]. - A strategic restructuring is underway to optimize resource allocation, with a focus on profitable projects while adjusting or halting less successful initiatives [7][8].