万兴科技：公司坚定全面拥抱AIGC，推进AI原生应用孵化与移动化布局

Core Viewpoint - The company is actively embracing AIGC (AI-Generated Content) and advancing its AI-native applications to drive business growth, capitalizing on the accelerating evolution of global AI Agent and multimodal generation technologies [2] Group 1: Financial Performance - In the first half of 2025, the company's revenue increased by 7.77% year-on-year, while in the third quarter of 2025, revenue growth accelerated to 9.99% year-on-year [2] - The company is experiencing a sequential acceleration in revenue growth [2] Group 2: Product Development and Market Presence - The company is expanding its product portfolio with a focus on mobile applications, exemplified by its video creation product, Filmora, which showcased "AI one-click video creation" at the 2025 Google Developer Conference [2] - Filmora was the only video editing product invited to present at the event and received global homepage recommendations on the Google Play Store, enhancing its international influence [2] Group 3: Operational Efficiency - The company is enhancing internal management efficiency by integrating diverse AI tools such as AI coding, AI customer service, and AI interviews [2] - The sales expense ratio decreased by 5.6 percentage points quarter-on-quarter in the third quarter of 2025, reflecting improved marketing management and conversion efficiency [2] Group 4: Global Strategy - Over 90% of the company's revenue is derived from overseas markets, and it plans to continue its global, diversified, and localized marketing upgrades [2]