Core Viewpoint - The financial performance of YXT.com (Cloud Academy) in the first half of 2025 shows a focus on large enterprise clients, leading to improved operational efficiency and a significant increase in gross margin despite a decline in total revenue [1][2][3] Financial Performance - In the first half of 2025, the company reported total revenue of 152.9 million RMB, a decrease compared to the previous year, primarily due to the exclusion of financial results from a subsidiary and a strategic focus on large enterprises [2] - The gross margin increased by 4.0 percentage points to 65.1%, up from 61.1% in the same period last year, attributed to a focus on large subscription clients and ongoing cost management [2] - Adjusted net loss for the first half of 2025 was 64 million RMB, a reduction of 15.0% compared to the previous year, indicating effective revenue structure optimization and cost control [2][3] Strategic Focus - The company has successfully integrated AI-driven enterprise learning solutions into its product offerings, maintaining a strong client retention rate while focusing on large enterprise clients [4] - The shift towards AI-enhanced products has resulted in a 150% year-over-year increase in monthly recurring revenue (MRR) from AI-related products, reflecting market recognition of AI-driven solutions [4] Cash Flow and Liquidity - As of June 30, 2025, the company held cash and cash equivalents totaling 235.7 million RMB, indicating a healthy liquidity position to support strategic initiatives [3]