Core Viewpoint - Qiming Star Technology Group Co., Ltd. (hereinafter referred to as "Qiming Star") reported a significant improvement in key financial metrics for the first half of 2025, including a revenue of 1.133 billion yuan and a reduction in net loss attributable to shareholders, indicating a solid foundation for stable development in the upcoming year [1] Financial Performance - In the first half of 2025, Qiming Star achieved an operating income of 1.133 billion yuan, with a year-on-year reduction in net loss attributable to shareholders [1] - The gross profit margin and accounts receivable indicators showed continuous improvement, particularly with positive operating cash flow in the second quarter [1] Technological Advancements - Qiming Star has been enhancing its core technological competitiveness by rapidly developing new products and exploring new business models, which has stimulated technological innovation [1] - The company optimized the Taihe security large model and built a collaborative intelligent body, Anxing, leveraging high-quality security datasets and computational resources from China Mobile [1] AI Applications - The Anxing intelligent body has been applied in security operations, threat detection, threat intelligence, and data security, significantly improving product capabilities and service efficiency [2] - Qiming Star launched a systematic large model security product matrix and implemented several benchmark projects, addressing security risks associated with large model applications [2] R&D Investment - As a leading enterprise controlled by a central state-owned enterprise, Qiming Star's ample financial reserves provide a solid foundation for resisting short-term fluctuations and support ongoing investments in future directions [3] - In the first half of 2025, R&D investment accounted for 37.67% of revenue, an increase of 3.64 percentage points compared to the same period last year, broadening the technological moat [3]