Core Insights - The company reported a revenue of 28.36 billion yuan in Q3 2025, reflecting a year-over-year increase of 8.2% and a quarter-over-quarter increase of 1.7% [1] - The adjusted net profit for Q3 reached 9.5 billion yuan, showing a year-over-year growth of 26.7% with a net profit margin of 33.5% [1] Group 1: Gaming and Related Services - The gaming and related services revenue for Q3 was 23.3 billion yuan, up 11.8% year-over-year, driven by growth in key titles such as "Dream of the Red Chamber" PC and "Nirvana in Fire" [1] - The peak online user count for "Dream of the Red Chamber" PC reached a record high of 3.58 million [1] - The company is expanding its global footprint with new game launches, including "Destiny: Stars" in August and upcoming titles like "Nirvana in Fire" and "Diablo IV" in December [1] Group 2: Youdao Business - Youdao's revenue for Q3 was 1.63 billion yuan, reflecting a year-over-year increase of 3.6% [1] - The company is advancing its "AI + Education" strategy, enhancing both hardware and software offerings [1] - A new AI-powered product, the Youdao AI Answering Pen SpaceX, is set to launch in August 2025, with a daily average of over 10 answers per user [1] Group 3: Cloud Music - Cloud Music reported a revenue of 1.96 billion yuan in Q3, down 1.8% year-over-year [2] - The company is enhancing user experience through AI-driven features, including the "AI Tuning Master" which allows for personalized audio adjustments [2] - The introduction of AI functionalities aims to enrich the platform's content ecosystem and improve user engagement [2] Group 4: Financial Projections - Revenue projections for the company are estimated at 113.91 billion yuan for 2025, 124.63 billion yuan for 2026, and 134.92 billion yuan for 2027 [2] - The expected net profit (Non-GAAP) for the same years is 39.67 billion yuan, 42.26 billion yuan, and 46.08 billion yuan respectively [2]

日前，云蝶科技CTO陈天接受南都·琶洲π专访。他长期从事教育的信息化、数字化、智慧化工作。在AI 进入到大模型发展阶段，他从北京南下广州，在海珠琶洲开启了创业新征程。 广州云蝶科技有限公司 CTO，汕头大学工学院校外硕士导师，广东省现代移动互联网研究院联席院 长，泰国格乐大学兼职教授 陈天 11年兜兜转转再回到广州 智慧教育专家在琶洲迎接AI风口 陈天与广州这座城市，或有注定的缘分。2008年，在华南理工大学软件学院执教的他，离开广州北上北 京，被借调到教育部从事教育信息化相关的工作。2019年，他兜兜转转地又回到了广州。 这一次，站在AI的风口上，他要将AI技术和教育融合起来。2018年，田雪松（现云蝶科技创始人、 CEO）找到他。两人在一家咖啡馆里谈起了AI+教育的创业计划。"没有特别的犹豫，当下就做了决 定。"陈天回忆道，这就是他最擅长的事情。两人一拍即合，决定在广州"开干"。 百花齐放般的大模型深刻展示着人工智能技术的魅力。南都·琶洲π特别策划"琶洲模术秀"系列人物专 访，专访位于广州海珠琶洲的国内首个人工智能大模型应用示范区的大模型专家，揭秘大模型背后的技 术原理，走进人工智能技术的最新应用场景。 ...