Investment Rating - The report maintains a "Buy" rating for the company with a target price of 27.82 RMB [8][9]. Core Views - The company reported a revenue of 525 million RMB in Q1 2025, a year-over-year decrease of 12.57%, while net profit attributable to shareholders increased by 81.09% to 58.15 million RMB [1][2]. - The company is focusing on AI applications, overseas markets, and innovative operations, which are expected to drive rapid growth in 2025 [1][3]. - The AI Agent is anticipated to be a significant growth driver in the banking IT sector in 2025, transitioning from technology validation to value release [4]. Summary by Sections Financial Performance - In Q1 2025, the company experienced a decline in revenue primarily due to a decrease in system integration income. However, net profit and non-recurring net profit grew significantly due to improved gross margins and cost control measures [2]. - The gross margin for Q1 2025 was reported at 27.77%, an increase of 1.36 percentage points year-over-year [2]. Growth Drivers - The company has developed multiple AI Agent products, which are expected to meet the strong demand for AI in the banking sector, particularly in credit and data fields [3][4]. - The company has successfully expanded its product offerings overseas, securing new orders worth nearly 100 million RMB and winning a major project with a multinational bank [3]. Profitability Forecast - The report projects earnings per share (EPS) for 2025 to be 0.68 RMB, with net profit expected to grow by 25.76% year-over-year [5][20]. - The company is positioned in a transitional phase with significant potential for overseas revenue growth, leading to a projected price-to-earnings (PE) ratio of 41 for 2025 [5].