Yonyou(SH:600588) SINOLINK SECURITIES·2025-07-14 14:21Investment Rating - The report maintains a "Buy" rating for the company, expecting a price increase of over 15% in the next 6-12 months [6][14]. Core Insights - The company anticipates a net loss attributable to shareholders of 875 million to 975 million yuan for the first half of 2025, with a significant reduction in losses compared to the previous year [3]. - Revenue for the first half of 2025 is projected to be between 3.56 billion and 3.64 billion yuan, reflecting a year-on-year decline of 4.3% to 6.4%, but showing growth in the second quarter [3][4]. - The company is implementing an "AI-first" strategy, focusing on upgrading its product matrix and validating internal scenarios to drive AI commercialization [5]. Financial Performance Summary - The company expects revenues of 10.05 billion, 11.15 billion, and 12.49 billion yuan for 2025, 2026, and 2027 respectively, with growth rates of 9.80%, 11.00%, and 12.00% [6][11]. - The projected net profit attributable to shareholders is -700 million yuan for 2025, with a turnaround to a profit of 50 million yuan in 2026 and 500 million yuan in 2027 [6][11]. - The operating cash flow is expected to improve significantly, with a net inflow of approximately 3.2 billion yuan in the second quarter of 2025 [3].