本报讯 （记者贾丽）数据是新时代的石油。百望股份有限公司（以下简称"百望股份"）因坐拥超千亿 级别的交易数据，被业内关注。 近日，百望股份宣布迎来"数据资产、智能体矩阵、生态联盟"三重引擎布局完成、形成合力的关键时 刻。业内人士认为，其全流通的时间窗口打开了资本闸门，为百望股份的价值重估提供了全新视角。 数据护城河 在AI2.0的竞争格局中，模型能力日趋同质化，高质量场景化数据成为稀缺战略资源。百望股份十年布 局，构筑起一道难以逾越的"数据护城河"：2850万企业节点覆盖大型企业集团与成长型企业，形成中国 最大的企业交易网络；231亿张发票、1055万亿元交易金额的动态数据池；全链路+实时性+多模态三位 一体数据特质，支持全球200余类票据秒级结构化解析。 业内人士认为，这些数据资产具有独特价值密度，覆盖从交易、合同、支付到投融资的完整商业闭环， 为行业智能体提供了"高纯度燃料"。 数据与智能体相互融合，互为佐证，共同推动了企业数字生产力的飞跃。 据了解，百望股份服务了超2800万用户，其中包括2800家集团型企业客户，通过与这些行业领军企业合 作、在AI领域成立"联合创新实验室"，我们形成了覆盖"数据+场景 ...

Core Insights - Baiwang Co., Ltd. achieved profitability in the first half of 2025, marking the effectiveness and sustainability of its business model after just one year of listing [1] - The company's revenue reached 347.6 million yuan, a year-on-year increase of 23.5%, while gross profit surged by 46.8% to 162 million yuan, resulting in a gross margin of 46.6% [1] - Net profit turned from a loss of 445.8 million yuan in the same period last year to a profit of 3.6 million yuan, with adjusted net profit at 4.6 million yuan [1] AI Business Growth - Baiwang's AI business generated over 60 million yuan in revenue, accounting for 17.5% of total revenue, becoming a new growth driver [2] - The Jinshun Intelligent Agent focuses on transaction compliance and invoice automation, particularly excelling in the "Belt and Road" market [2] - The Ruijie Intelligent Agent serves banks and internet financial institutions, enhancing inclusive finance and risk control [2] - The Wenshu Intelligent Agent integrates internal and external data to support strategic planning and industry insights for enterprises [2] Core Business Performance - The company's traditional business segments showed stable growth, with cloud-based tax digital solutions generating 111.2 million yuan, up 16.3%, and local deployment solutions increasing by 93.1% to 81.7 million yuan [4] - Data-driven analysis services saw a decline in revenue to 92.4 million yuan due to strategic contraction of low-margin businesses [4] - Core business still accounted for 82.1% of total revenue, providing stable cash flow for AI strategy expansion [5] Operational Efficiency and R&D Focus - Overall expenses decreased by 16.2% from 415.3 million yuan to 347.9 million yuan [6] - R&D investment in Data+AI reached 12.6 million yuan, representing 18.4% of total R&D expenditure, improving software development efficiency by approximately 12% [6] Strategic Collaborations and Global Expansion - Baiwang is accelerating the deployment of intelligent agents in vertical industries, including partnerships in international shipping and consumer goods [8][9] - The company is actively participating in national public data resource platform construction and expanding its global compliance product system to cover over 100 countries [9] Future Outlook - Analysts view Baiwang's half-year report as a validation of its "AI+DI" strategy, with rapid AI business growth and improved profitability [10] - The company aims to leverage "AI-driven + internationalization" as dual engines for growth, expanding its intelligent agent matrix and capturing data market opportunities [10]

Core Viewpoint - 百望股份 reported a significant turnaround in its financial performance for the six months ending June 30, 2025, with a revenue increase of 23.45% year-on-year, indicating strong growth in its cloud-based tax compliance solutions [1] Financial Performance - Revenue reached 348 million RMB, up 23.45% year-on-year [1] - Gross profit was 162 million RMB, reflecting a 46.84% increase compared to the previous year [1] - Shareholders' profit amounted to 3.717 million RMB, a recovery from a loss of 446 million RMB in the same period last year, marking a successful turnaround [1] - Basic earnings per share were 0.02 RMB [1] Business Solutions - The company offers cloud-based tax compliance solutions, including invoice compliance management, tax management, and supply chain collaboration solutions, which can be subscribed to individually or in combination [1] - Revenue from cloud-based tax digital solutions increased from 95.6 million RMB to 111 million RMB, a growth of 16.3%, driven by enhanced product competitiveness and increased business volume due to AI empowerment [1] Market Reach and Client Base - As of June 30, 2025, the company processed approximately 23.1 billion invoices, corresponding to a total transaction amount of 10.551 trillion RMB [1] - The client base includes over 90.7 million taxpayer identification number clients, covering 2,825 group enterprises and 28.5 million small and medium-sized enterprises, indicating robust growth in core business and increased market penetration [1]

Core Insights - The company reported a revenue of 348 million RMB for the six months ending June 30, 2025, representing a year-on-year increase of 23.45% [1] - Gross profit reached 162 million RMB, up 46.84% year-on-year [1] - Shareholders' profit amounted to 3.717 million RMB, a turnaround from a loss of 44.6 million RMB in the same period last year [1] - Basic earnings per share were 0.02 RMB [1] Revenue Breakdown - Revenue from cloud-based tax compliance solutions increased from 95.6 million RMB for the six months ending June 30, 2024, to 111 million RMB for the same period in 2025, marking a growth of 16.3% [1] - The growth was attributed to enhanced product competitiveness and increased business volume driven by AI capabilities in tax management and invoice compliance solutions [1] Operational Metrics - The company processed approximately 23.1 billion invoices, corresponding to a total transaction amount of 10.551 trillion RMB [1] - The customer base includes over 90.7 million taxpayer identification number clients, covering 2,825 group enterprises and 28.5 million small and medium-sized enterprises [1] - Core business demonstrated robust growth, with increased customer trust and market penetration [1]

Core Viewpoint - The company expects significant revenue growth and profitability improvement by June 30, 2025, driven by AI business and digital financial solutions [1] Revenue Forecast - The projected total revenue for the six months ending June 30, 2025, is estimated to be between RMB 330 million and RMB 380 million, an increase from RMB 281.6 million in the same period last year [1] - AI business revenue is expected to reach between RMB 58 million and RMB 63 million, compared to zero revenue in the same period last year [1] Profitability Metrics - The company's gross margin is anticipated to rise from 39.2% last year to between 45.0% and 50.0% [1] - Net profit is projected to be between RMB 3 million and RMB 5 million, reversing a net loss of RMB 445.8 million in the same period last year [1] Growth Drivers - Revenue growth is attributed to the increase in AI business and digital financial solutions [1] - The rise in gross margin is due to reduced marketing investments in low-margin businesses and refined cost management [1] - The improvement in net profit is primarily driven by total revenue growth and the implementation of data intelligence strategies [1] - The company has achieved gross margin expansion, enhanced operational efficiency, and reduced operating expenses through refined operations [1]

Group 1 - The China International Fair for Trade in Services (CIFTIS) has become a significant platform for promoting high-level opening-up and providing global enterprises with opportunities in China [2][3] - The upcoming CIFTIS will feature the launch of the first "China Accommodation Consumption Index" and "China Catering Consumption Index," focusing on quality improvement and brand cultivation in the hospitality sector [3] - The fair will also introduce two national industry standards related to ESG management and digital operations in the hospitality industry [3] Group 2 - Ernst & Young will showcase multiple smart products, emphasizing the integration of technology into real business scenarios to enhance productivity [4] - Philips will present smart healthcare solutions, highlighting its commitment to local development in China with the establishment of a new R&D headquarters [4][5] - Schneider Electric will unveil upgraded service systems tailored to various industry needs, focusing on local investment and innovation [5] Group 3 - The fair serves as a platform for Chinese enterprises to enhance their internationalization and showcase their innovations, such as Amate Medical's 3D-printed biodegradable vascular stent [6] - Baidong Co. will launch a global transaction compliance solution aimed at helping enterprises navigate complex international trade challenges [7][8]

Group 1 - The 2025 China International Service Trade Fair (CIFTIS) is set to showcase significant achievements from various enterprises and institutions, with a media briefing held 40 days prior to the event [1] - The China Hotel Association will launch the first "China Accommodation Consumption Index" and "China Catering Consumption Index" at the fair, focusing on price, customer flow, and confidence indices to reflect industry consumption trends [2] - The association will also release two national industry standards related to ESG management and digital operations for hotels, aiming to promote high-quality development in the industry [2] Group 2 - Ernst & Young will present innovative products and insights at the fair, including the first industry-specific intelligent Q&A system, which provides 24/7 service across various sectors [3] - Alibaba will unveil a series of innovative results, including the "Yellow Handrail Plan" aimed at enhancing safety for the elderly, and a report on new e-commerce models that leverage digital capabilities [4] - The company will also introduce the China Online Consumption Brand Index (CBI), focusing on quality metrics in online consumption [4] Group 3 - Baiwang Co., Ltd. will launch a global transaction compliance solution at the fair, integrating AI with tax expertise to support enterprises in compliance management [5]

Group 1 - The 2025 China International Service Trade Fair (CIFT) is set to showcase significant achievements from various enterprises and institutions, with a focus on the hospitality industry [1] - The China Hotel Association will launch the first "China Accommodation Consumption Index" and "China Catering Consumption Index," which will reflect industry consumption trends and provide scientific references for government, businesses, and consumers [1] - The association will also release two national industry standards related to ESG management and digital operations in hotels, aiming to promote high-quality development in the industry [2] Group 2 - Ernst & Young will present innovative products and insights at the CIFT, including the first industry-specific intelligent Q&A system, which aims to support businesses in their green transformation and high-quality development [3] - Alibaba will unveil a series of innovative achievements, including the "Yellow Handrail Project" aimed at enhancing home safety for the elderly, and a report on new e-commerce models that leverage digital capabilities [4] - Baiwang Co., Ltd. will introduce a global transaction compliance solution at the CIFT, designed to help businesses establish an intelligent and comprehensive compliance management system [5]