智微智能：公司2025年半年报中“智算业务”分类毛利率较高

Core Viewpoint - The company stated that the gross margin of its "intelligent computing business" in the 2025 semi-annual report is relatively high due to the revenue recognition method used by its subsidiary, which applies the net method as per accounting standards [1] Summary by Category - Company Performance - The gross margin of the "intelligent computing business" is expected to be high in the 2025 semi-annual report [1] - Revenue Recognition - The subsidiary, Tengyun Zhikuan, recognizes part of its operating income using the net method in accordance with accounting standards [1]