Core Insights - Silk Road Vision (SZ300556) reported a narrowing loss in the first half of 2025 compared to the previous year, with a net profit attributable to shareholders of -80.26 million yuan, an improvement of 26.14% year-on-year [1] - The company's revenue for the first half of 2025 was 277 million yuan, a decrease of 6.28% compared to the same period last year [1] - The gross margin for the first half of 2025 was 12.00%, an increase of 9.21 percentage points year-on-year [2] Financial Performance - The net profit attributable to shareholders for the first half of 2025 was -80.26 million yuan, compared to -108.66 million yuan in the previous year, showing a year-on-year improvement of 26.14% [1] - The net cash flow from operating activities was -26.80 million yuan, a significant improvement of 85.71% from -187.49 million yuan in the same period last year [1] - Basic earnings per share for the first half of 2025 were -0.66 yuan, an improvement of 26.67% from -0.90 yuan in the previous year [1] Expense Management - Total operating expenses for the first half of 2025 were 110 million yuan, a decrease of 17.57 million yuan compared to the previous year [2] - The expense ratio was 39.74%, down 3.45 percentage points year-on-year [2] - Sales expenses decreased by 25.45%, while management expenses increased by 6.78%, R&D expenses decreased by 36.75%, and financial expenses increased by 43.56% [2] Company Overview - Silk Road Vision was established on March 23, 2000, and is located in Shenzhen, Guangdong Province, specializing in digital visual comprehensive services based on CG creativity and technology [5] - The company was listed on November 4, 2016 [5]