【兴证计算机】合合信息（深度）：OCR领军，恰沐AI应用春风

Core Viewpoint - The company, Hehe Information, is a leading enterprise in text recognition, leveraging its core OCR technology to achieve stable and sustainable growth in the AI and big data industry [1][2]. Group 1: Company Overview - Hehe Information has developed into an industry leader in AI and big data, primarily driven by its intelligent text recognition technology [1]. - The company’s revenue is projected to grow from 988 million yuan in 2022 to 1.438 billion yuan in 2024, with year-on-year growth rates of 22.67%, 20.04%, and 21.21% respectively [1]. - The net profit attributable to shareholders is expected to increase from 284 million yuan in 2022 to 401 million yuan in 2024, with growth rates of 96.37%, 13.91%, and 23.93% respectively [1]. Group 2: C-end Business - The C-end business boasts a large user base with strong engagement and significant growth potential, having 181 million monthly active users and 8.5255 million paying users as of the first half of 2025 [1]. - The main revenue source from C-end products is the "Scan All-in-One" app, which holds a leading global market share, while "Business Card All-in-One" and "Qixinbao" also contribute to brand recognition and commercial big data efforts [1][2]. - The C-end segment benefits from continuous technological leadership and strategic positioning in various application scenarios, with substantial growth opportunities in overseas markets where current revenue contribution is relatively low [1]. Group 3: B-end Business - The B-end business focuses on intelligent text recognition and commercial big data, with a dual approach to drive growth [2]. - The company has developed the TextIn platform, which offers a comprehensive suite of intelligent document solutions, including general text recognition and specialized identification services [2]. - The commercial big data segment provides enterprise data APIs and databases, with a key product, Qixin Huayan, aimed at facilitating data-driven decision-making for businesses [2].