Investment Rating - The investment rating for the company is maintained as "Buy" [5] Core Insights - The company has shown a significant improvement in its operational metrics, with a notable increase in AI-related revenue orders and a strategic focus on channel empowerment for its outbound strategy [1] - In the first half of 2025, the company achieved a revenue of 153 million yuan, representing a year-on-year growth of 8.82%, and a reduced net loss of 143 million yuan compared to the previous year [2] - The company has launched a new generation of AI infrastructure, positioning its data platform as a core component, which highlights the strategic importance of deep integration between AI and data [3] - A strategic partnership with Hong Kong Broadband has been established, marking a commitment to an outbound strategy and enhancing the company's digital transformation offerings [4] Financial Summary - The company forecasts revenues of 500.45 million yuan for 2025, with a projected growth rate of 34.71% compared to 2024 [10] - The gross profit margin for the first half of 2025 was reported at 45.68%, with a significant improvement in the second quarter to 52.24% [2] - The operating cash flow showed substantial improvement, with a net cash flow of -133 million yuan in the first half of 2025, indicating better cash management [2]