Performance Overview - In Q1-Q3 2025, the company achieved revenue of 2.717 billion, a year-on-year increase of 54.94% [1] - The net profit attributable to shareholders was 204 million, up 4.41% year-on-year; excluding foreign exchange gains and share-based payments, the net profit was 252 million, a 15.98% increase [1] - In Q3 2025, the company reported revenue of 980 million, a 46.80% year-on-year growth; however, the net profit attributable to shareholders decreased by 4.80% to 60.06 million, while the adjusted net profit grew by 16.95% to 89.72 million [1] Market Position and Strategy - The company is steadily increasing its market share in the cross-border e-commerce sector, supported by a dual-driven strategy of "services + products" [1] - The zMaticoo programmatic advertising platform is experiencing rapid growth, with a completed upgrade of its SDK and DSP 2.0, significantly enhancing service efficiency and data integration [1] Technological Advancements - The company has increased its R&D investment to 109 million, a 64.52% year-on-year growth, accelerating the formation of the Agentic AI marketing ecosystem [2] - In July 2025, the company pre-released the AI Drive 2.0 smart marketing solution, integrating various AI capabilities for a full-cycle marketing automation process [2] - The solution utilizes advanced multimodal models like Sora2 and GPT-5, enhancing the company's ability to penetrate the mid-to-long tail market [2] Strategic Partnerships - The company became the first-level e-commerce agent for AppLovin in Greater China, enhancing its capabilities in e-commerce advertising [3] - In July 2025, the company was certified by Snapchat as an official advertising service provider, marking a deep integration in DTC brand marketing [3] Profit Forecast - The company is expected to achieve net profits of 253 million, 293 million, and 321 million for the years 2025, 2026, and 2027, respectively, with corresponding PE ratios of 54.4, 46.9, and 42.9 [3]

Investment Rating - The report maintains a "Buy" rating for the company with a target price of 38.00 RMB [7][5]. Core Views - The company reported a total revenue of 2.717 billion RMB for the first three quarters of 2025, representing a year-over-year increase of 54.94%. The net profit attributable to shareholders was 204 million RMB, up 4.41% year-over-year, while the net profit after deducting non-recurring items decreased by 39.16% year-over-year [1][5]. - The decline in profit in Q3 was primarily due to a drop in gross margin, which is expected to recover in the medium to long term as advertising efficiency improves [2][5]. - The company is optimistic about its overseas marketing prospects and believes that its programmatic advertising business is in an accumulation phase, which will enhance growth potential [1][5]. Financial Performance - For the first three quarters of 2025, the gross margin was 16.05%, down 5.42 percentage points year-over-year, with Q3 gross margin at 13.06%, a decrease of 8.99 percentage points year-over-year and 6.53 percentage points quarter-over-quarter [2]. - The company’s expense ratios for sales, management, R&D, and financial costs were 1.73%, 4.40%, 4.00%, and -1.21% respectively for the first three quarters of 2025, showing stability in overall expense management [2]. Technological Advancements - The company launched its new AI-driven marketing solution, AI Drive 2.0, which integrates various AI capabilities to enhance advertising efficiency. During its internal testing, the AdsGo.ai product achieved a 268% increase in creative production testing efficiency and a 190% improvement in average Return on Advertising Spend (ROAS) [3]. - The zMaticoo programmatic advertising platform has undergone significant upgrades, enhancing its efficiency and compliance with international standards, connecting with over 12,000 apps and processing 220 billion ad requests daily [4]. Profit Forecast and Valuation - The profit forecast for 2025-2027 is set at 274 million RMB, 347 million RMB, and 429 million RMB respectively. The estimated PE ratio for 2026 is projected at 51.7X, with a target price of 38.00 RMB, reflecting the company's growth potential driven by AI technology and expanding overseas client base [5][12].

Core Insights - Douyin's daily active users exceed 800 million, with 8 million enterprise accounts, yet 70% of these accounts face "zero conversion" challenges, raising questions about the effectiveness of outsourcing to operation companies [1] - The shift in Douyin's e-commerce ecosystem has made outsourced operation services a necessity for businesses, as many face significant challenges in adapting to frequent algorithm changes and high operational costs [5] Market Pain Points - Douyin's e-commerce ecosystem is evolving, with algorithm adjustments occurring more than three times a month, leading to over 60% traffic drops for businesses that fail to adapt [5] - Small and medium enterprises struggle with three main issues: a shortage of professional talent, complex platform rules, and limited budgets for advertising and content creation [5] - The outsourced operation industry is rife with unreliable companies that may promise results without delivering genuine services [5] Competitive Landscape - **Chase Horse Network**: Established in 2016, focuses on traditional industries, achieving a 70% increase in natural traffic within three months for clients [6] - **Bashou Network**: Founded in 2020, utilizes creative content strategies to enhance user engagement, achieving a 300% increase in client performance [9] - **Pengyi Network**: A technology-driven service provider that leverages AI to enhance content production efficiency, successfully reaching over 1,200 potential clients for a client in three months [10] - **Hushouhui**: A local resource integration expert that supports Shanghai enterprises with a cost-effective service model, achieving over 50,000 views in a single live broadcast event [11] - **Zhedouhui**: A versatile live-streaming operation company that effectively transitions offline exhibitions to online platforms, successfully attracting international buyers [12] Avoiding Pitfalls - Companies should be cautious of "false promises" from operation firms that guarantee rapid follower growth or viral content [14] - Verifying the authenticity of case studies and focusing on real conversion metrics is essential when selecting an operation partner [15] - Clear communication regarding service content and pricing is crucial to avoid disputes [15] - It is advisable to avoid long-term contracts initially and instead test the partnership for a few months [16] - Regular data feedback and communication mechanisms are vital for a reliable operation partner [16]

Core Insights - The article emphasizes that going global is no longer a choice but a necessity for Chinese companies, with the outbound market expected to reach $2.5 trillion by 2025, reflecting a 15% year-on-year growth [2] - The competitive landscape for Chinese companies is intensifying, shifting the focus from product quality to marketing capabilities as the key determinant of success in international markets [2][3] - AI technology is identified as a crucial factor in transforming outbound marketing strategies, moving from traditional broad approaches to more precise, data-driven tactics [3][10] Industry Trends - The outbound marketing service market for Chinese companies is projected to reach $51.1 billion by 2025, driven by the demand for efficient and targeted marketing solutions [2] - The evolution of outbound marketing is categorized into three phases: - Phase 1 (2010-2018): Focused on product export with a cost advantage [5] - Phase 2 (2019-2023): Transitioned to brand export, emphasizing localization and social media marketing [7] - Phase 3 (2024 onwards): Characterized by the integration of AI across all marketing processes, marking a shift towards systematic and intelligent outbound strategies [9][10] Company Developments - Titanium Technology has helped over 100,000 Chinese companies expand internationally, achieving over fivefold growth in the last three years [5] - The company launched its first AI marketing agent, Navos, and a global growth model, Tec-Chi, aimed at enhancing outbound marketing efficiency [5][14] - Navos integrates market insights, creative strategies, advertising monitoring, and data reporting, serving as a comprehensive marketing support system for outbound enterprises [14][15] AI Integration - AI is reshaping the marketing landscape by enabling real-time monitoring and optimization of advertising campaigns, significantly improving operational efficiency [12][10] - The company aims to develop vertical AI agents that cater specifically to the unique needs of different industries, enhancing the effectiveness of marketing strategies [10][17] - The dual-engine approach of "data + scenario" allows Titanium Technology to leverage extensive industry knowledge and practical data, creating tailored solutions for various sectors [15][17]

Core Insights - The article emphasizes the necessity for GEO promotion services to adapt to the significant regional differences in the domestic market, as standardized solutions fail to meet diverse demands [3][30]. Group 1: Market Characteristics - First-tier cities require refined operational strategies due to market saturation, focusing on deep understanding of business districts and consumer movement [4]. - New first-tier cities present opportunities for market expansion and consumption upgrades, necessitating service plans that consider current competition and future trends [5]. - Lower-tier markets demand tailored penetration strategies that align with local media environments and consumer habits, highlighting the need for localized insights [6]. Group 2: Service Provider Capabilities - High-quality service providers accumulate unique local data advantages, including consumer insights and media relationships [7]. - Service providers must possess cross-regional management capabilities to handle complex needs such as multi-level account systems and budget allocation [8]. - Content creation must adapt to regional cultural nuances, requiring service providers to design targeted service plans based on local market conditions [9]. Group 3: Competitive Strategies - In mature markets, the focus should shift from acquiring new customers to deepening existing customer relationships, necessitating lifecycle management capabilities [10]. - Precision in resource allocation is crucial, especially under budget constraints, to ensure effective investment in the most impactful areas [11]. - A comprehensive quality control system is essential for executing strategies effectively, ensuring that all aspects meet local market characteristics [12]. Group 4: Collaboration Models - Establishing deep strategic partnerships in core business areas can lead to more dedicated resources and forward-looking strategic advice from service providers [14]. - Evaluation standards for effectiveness should vary according to regional market foundations and consumer levels [15]. - Knowledge transfer should incorporate regional operational experiences and methods into client teams [16]. Group 5: Recommended GEO Service Providers - Baidu Technology offers comprehensive GEO+SEO services, enhancing brand marketing conversion and long-term traffic growth, with a notable case of increasing natural traffic share from 18% to 52% [17][18]. - Geek SEO specializes in AI-driven SEO outsourcing, achieving cost savings of up to 70% through quantifiable optimization effects [19][20]. - Zhilian Mofang provides AI semantic optimization services, enhancing brand recognition through dynamic entity relationship databases [21][22]. - Hayepus Advertising focuses on GEO services, ensuring high exposure for enterprises on major AI platforms [23][24]. - Zhiqing Marketing delivers tailored AI-SEO solutions for specific industries, leveraging deep industry knowledge [25][26]. - Fenghuo Marketing offers integrated GEO digital marketing solutions, contributing to a 25 percentage point increase in sales for a consumer electronics brand [28][29]. Group 6: Regional Management Challenges - The stability of local teams and their experience directly impacts service continuity and quality assurance [31]. - Emergency plans must consider regional characteristics, as different areas face unique risks [32]. - Compliance with regional regulations regarding data security and advertising content is essential, requiring service providers to demonstrate familiarity with local policies [33].

Core Viewpoint - The company, Wanka Yilian (01762.HK), has announced the establishment of a joint venture, Suzhou Jinglan Cloud Technology Co., Ltd., focusing on mobile advertising, with a registered capital of RMB 160 million, which has been fully paid up [1][2] Group 1 - The joint venture will receive an additional capital injection of RMB 60 million, increasing its registered capital to RMB 220 million [1] - The capital injection will be contributed by Suzhou Longying and the new investor, Suzhou Huanxiuhu Xincheng Phase II Industrial Investment Fund, with Suzhou Longying contributing RMB 30.6 million and the fund contributing RMB 29.4 million [1] - Huanxiuhu Jinglan Cloud Investment has agreed to waive its preferential subscription rights for this new capital [1] Group 2 - The capital increase aims to expand the joint venture's business scale and strengthen its market leadership position due to significant growth in business volume since its establishment [2] - The investment is aligned with the growing prospects of mobile internet advertising in the AI era, as advertising is shifting towards real-time algorithmic models [2] - The company possesses vast data and algorithm training samples, which, along with continuously upgraded AI marketing technology, is expected to generate substantial business growth [2]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整 性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或因倚賴該等內容而 引致的任何損失承擔任何責任。 WANKA ONLINE INC. （股份代號：1762） 自願性公告 有關合營公司蘇州鯨瀾雲科技有限公司增資之最新進展 本公告由萬咖壹聯有限公司（「本公司」，連同其附屬公司統稱「本集團」）自願作出，以知會 本公司股東（「股東」）及潛在投資者本集團合營公司之最新業務及資本發展情況。除文義另有所 指外，本公告所用詞彙與本公司日期為二零二二年十一月十一日之公告所界定者具有相同涵義。 背景 茲提述本公司日期為二零二二年十一月十一日及二零二二年十一月十七日之公告，內容有關（其中 包括）本集團透過直接全資附屬公司蘇州龍盈軟件開發有限公司（「蘇州龍盈」）與獨立第三方合 營夥伴蘇州環秀湖鯨瀾雲創業投資合夥企業（有限合夥）（「環秀湖鯨瀾雲創投」）成立合營公司 蘇州鯨瀾雲科技有限公司（「合營公司」），合營公司的註冊資本爲人民幣16,000萬元（已完成全 部實繳），主要從事移動廣告業務。 本次增資 本公司董事會（「董事會」 ...

Core Insights - The company reported a decline in revenue and net profit for the first three quarters of 2025, with total revenue of 2.446 billion yuan, down 11.8% year-on-year, and a net profit of 178 million yuan, down 6.5% year-on-year [1] - The liquor industry continues to face pressure from policy impacts, leading to a contraction in consumption scenarios and weakened demand for alcohol [1] - Despite the challenges, online sales of alcoholic beverages remain robust, with the company positioned as a leading player in the e-commerce sector [1] Financial Performance - The company achieved a gross margin of 23.4% for the first three quarters, a slight decrease of 0.47 percentage points year-on-year, while the gross margin for Q3 2025 was 26.3%, an increase of 1.06 percentage points year-on-year [2] - The net profit margin for the first three quarters improved to 7.3%, up 0.41 percentage points year-on-year, attributed to ongoing efficiency improvements in expense management [2] Strategic Developments - The company has successfully divested from loss-making traditional retail businesses, focusing on internet marketing, which has led to a more streamlined balance sheet [3] - Following the resolution of historical losses, the company announced a mid-term dividend plan for the first time since 2012, signaling confidence in future profitability [3] - The company is projected to achieve revenues of 3.379 billion yuan and 3.765 billion yuan in 2025 and 2026, respectively, with net profits of 253 million yuan and 303 million yuan [3]

AI智能获客的核心优势 在当今竞争激烈的商业环境中，AI智能获客已成为企业提升营销效率和精准度的关键工具。通过人工智能技术，企业能够自动化分析潜在客户数据，优化 营销策略，从而实现更高的转化率。本文将深入探讨AI智能获客的专业性，帮助企业了解如何选择适合的服务提供商，并强调AI营销在这一过程中的核心 作用。 AI智能获客利用机器学习、自然语言处理和大数据分析等先进技术，帮助企业从海量数据中识别潜在客户。与传统获客方式相比，AI系统能够实时分析用 户行为、偏好和互动模式，提供个性化的营销方案。这不仅提高了获客效率，还降低了人力成本。 在AI营销的框架下，获客过程更加智能化。AI工具能够自动执行线索评分、内容推荐和渠道优化，确保营销活动精准触达目标受众。此外，AI驱动的数据 分析还能揭示市场趋势，帮助企业调整策略，保持竞争优势。 此外，AI营销还强化了多渠道整合。通过统一平台，企业可以协调社交媒体、电子邮件和搜索引擎营销，利用AI优化广告投放和预算分配。这种一体化方 法不仅提升了获客效率，还增强了品牌一致性。 总结 最后，考虑服务与支持的持续性。专业的AI智能获客企业会提供持续监控和优化服务，确保系统随市场变化而 ...

Core Insights - The article highlights the success and growth of Titanium Technology, a leading player in China's overseas marketing services, founded by Li Shuhua in 2017, which now manages an annual advertising budget of $7 billion for nearly 100,000 clients [5][25]. - The company has experienced a fivefold revenue increase over four years, with its workforce expanding from 300 to 1,500 employees [5][28]. - Li Shuhua emphasizes a data-driven approach to business, referring to it as "data Darwinism," which has been crucial for the company's adaptability and growth [49][56]. Company Overview - Titanium Technology specializes in B2B marketing services, focusing on overseas markets, and has established a strong reputation in the e-commerce sector, with over 60% of its revenue coming from this area [19][25]. - The company is set to launch its first enterprise-level marketing agent, "Navos," which aims to automate and optimize overseas marketing processes [7][38]. Growth Strategy - The company has successfully navigated the challenges of the B2B market by adapting to environmental changes and focusing on data accumulation and analysis [9][36]. - Li Shuhua's vision includes creating a company with a valuation of $100 billion, driven by a commitment to internationalization and helping Chinese businesses succeed globally [13][34]. Technological Innovation - The introduction of AI technologies, particularly through the Navos platform, is expected to enhance marketing efficiency and effectiveness by leveraging extensive data accumulated over the years [30][39]. - The company believes that AI will play a significant role in understanding cultural differences and improving marketing strategies across various regions [31][32]. Market Position - Titanium Technology positions itself as a "barbarian outside the walls" of traditional marketing firms, focusing on practical data-driven strategies rather than conventional creative approaches [48][46]. - The company aims to redefine marketing by decentralizing it, allowing individual creators and businesses to leverage its tools for better engagement and sales [40][42]. Future Outlook - The company is optimistic about its growth trajectory, with plans to continue expanding its services and client base while maintaining a focus on data-driven decision-making [61][63]. - Li Shuhua expresses a desire to build a respected enterprise that contributes positively to the global perception of Chinese companies [34][36].