Core Viewpoint - The company, Fenbi, anticipates a strong performance in the first half of 2025, projecting revenue of at least RMB 1.472 billion and net profit of at least RMB 215 million, despite facing competitive pressures in the exam training industry [1] Group 1: Financial Performance - Fenbi expects revenue for the first half of 2025 to be no less than RMB 1.472 billion and net profit to be no less than RMB 215 million, with adjusted net profit projected at no less than RMB 260 million [1] - The company is optimistic about its future growth prospects, particularly due to the performance of its AI products [1] Group 2: AI Product Development - Fenbi has developed an AI domain model focused on exam training, leveraging its mature AI technology and extensive industry data [2] - The AI brush question system class, launched in April, has sold approximately 50,000 times, generating around RMB 20 million in revenue, indicating a potential annual sales exceeding RMB 100 million [2] - The company plans to expand its AI product offerings, including AI interview simulation competitions and AI evaluation tools, which have shown high user engagement and satisfaction [3] Group 3: Market Position and Strategy - The demand for exam training remains strong, with the number of applicants for national exams increasing by 12.6% year-on-year to 3.416 million in 2025 [2] - Fenbi's user base is growing, with over 72.74 million registered users expected by the end of 2024, and 90% of AI course participants previously had no intention to pay for courses [3] - The company is positioned uniquely in the exam training market, with a competitive edge due to its AI-driven approach, which is expected to facilitate rapid market share expansion [4] Group 4: Industry Trends - The exam training industry is undergoing a structural adjustment, shifting focus from scale competition to value competition, emphasizing product effectiveness and user experience [5] - The national policy environment is favorable for AI applications, providing a critical window for Fenbi to enhance its competitive advantage through continued investment in AI technology [5][6] - Fenbi's president has indicated plans to increase AI R&D investment by 30% annually and collaborate with top institutions to build educational AI models [6]