本报讯 （记者李乔宇）8月25日晚间，北京值得买科技股份有限公司（以下简称"值得买"）正式发布 2025年半年度报告。上半年，值得买实现营业收入5.82亿元，实现归属于上市公司股东的净利润为 1269.26万元，同比增长65.75%。 2025年上半年，值得买整体毛利率较2024年同期提升2.23个百分点至49.20%，销售费用与管理费用分别 同比减少19.46%、17.03%，业务结构与经营效率持续优化、提升。 在AI驱动业务发展层面，值得买不仅基于AI技术完成了对核心产品"什么值得买"的战略迭代升级，而且 正在通过与众多大模型平台、Agent产品、智能终端、开发者平台共建AI生态，积极抢占"AI应用"这一 消费决策新入口。 截至2025年6月底，"海纳"MCP Server已经与Kimi、元宝、豆包、智谱清言、讯飞星火、夸克、Soul等 Agent产品，与理想、联想、华为、vivo、荣耀等公司的智能终端产品达成合作，并入驻了腾讯元器、 阿里百炼、火山引擎、华为云、华为小艺、智谱等开发者平台。2025年6月份，"海纳"MCP Server的内 容输出量超过822万次，环比增长81.73%，7月的输出量进一步 ...

8月22日，观察者网正式发布"《高质量发展下的ESG》——2025ESG典范企业评选榜单"。作为消费领 域积极践行ESG理念的代表企业，值得买科技成功入选榜单，并凭借"将AI新技术深度融合应用于ESG 实践"的突出表现，荣获"科创先锋奖"。 值得买科技表示，未来，公司将把ESG理念进一步深度融入到战略规划和整体运营的每一处细节，并通 过AI技术在业务发展、管理运营中的广泛应用，在努力实现自身高质量发展的同时，全面赋能经济、 社会和环境的可持续发展。 值得买科技今年4月连续第四年发布的独立ESG报告《2024年度可持续发展报告》显示：作为一家AI与 内容驱动的数字消费服务集团，其"可持续发展战略"的目标是，在"与员工、内容创作者、用户、品 牌、商家等共同构建一个和谐的生态系统"的基础上，"积极践行对股东和投资者、政府和监管机构、客 户、合作伙伴、员工、社区和公众等各方利益相关者的责任"。而AI正是这一战略的新引擎。 从2023年全面拥抱人工智能，到2024年实施"全面AI"战略，再到当下对AI应用研究和落地的深度探索， AI正在全面赋能值得买科技的业务发展和管理运营。 在"业务发展"层面，值得买科技正在快速推进 ...

在AI驱动业务发展层面，值得买不仅基于AI技术完成了对核心产品"什么值得买"的战略级迭代升级，而 且正在通过与众多大模型平台、Agent产品、智能终端、开发者平台共建AI生态，积极抢占"AI应用"这 一消费决策新入口。 本报讯 （记者桂小笋）8月25日晚间，北京值得买科技股份有限公司（以下简称"值得买"）正式发布 2025年半年度报告。报告期内，公司实现营业收入58198.14万元，实现归属于上市公司股东的净利润为 1269.26万元，同比增长65.75%。 在大力投入资源探索"AI+消费"新场景、新模式、新产品的同时，值得买还在快速提升公司业务和管理 环节的智能化水平，全面普及AI在各个岗位的应用，从而在提质、增效的同时实现降本。 未来，值得买将继续按照"聚焦AI"和"全面提效"两大年度战略指导方针，在"推进AI技术与业务深度融 合"和"研发创新型AI产品"，以及"全面提升内部管理和运营效率"等多个维度持续发力，进一步强化、 重塑各项重点业务的市场竞争力，努力实现AI驱动的高质量增长。 除了推出新版"什么值得买"和AI购物管家"张大妈"这两款面向C端用户的AI产品，与外部多领域合作伙 伴共建AI生态，则有望 ...

北京商报讯（记者 何倩）8月25日，值得买科技发布2025年上半年财报。数据显示，公司实现营业收入 5.8亿元，同比下降18.7%；实现归属于上市公司股东的净利润为1269万元，同比增长65.75%；归属于上 市公司股东的扣除非经常性损益的净利润为1065.8亿元，同比下滑11.06%。 在客户收入上，值得买科技在今年上半年有所承压，电商客户和品牌商客户收入有所下降，同比减少 8.97%和24.88%。互联网营销总收入同比下降18.7%。在成本控制方面，值得买科技在销售、管理和财 务费用上大幅削减，降幅同比超过一成。 具体业务上，值得买科技核心业务"什么值得买"在财报期内月平均活跃用户数为3826.82万人，同比增 长1.26%；内容发布量为2021.88万篇，同比增长30.98%。 ...

Core Insights - The consumption platform "What Worth Buying" has reported a significant increase in consumer decision-making efficiency driven by AI, leading to growth in consumption during the "618" shopping festival [2] - The company launched multiple AI products, including the AI engine "Fire Eye" AIUC engine, user-facing AI products "What Worth Buying" GEN2, shopping agent "Zhang Dama," and the foundational AI infrastructure product "Haina" MCP Server [2] - The AIUC engine has enhanced product selling points, risk warnings, and purchase suggestions, with a 15-fold increase in AIUC label recognition and a reduction in content review time to one-eighth of last year's duration [2] Company Developments - The "Haina" MCP Server has gained industry attention for its integration of data and content advantages in the consumer sector, offering unique value in richness, real-time capabilities, and neutrality [3] - The "Haina" MCP Server has been made available to various partners, including large models and intelligent terminal applications, facilitating extensive adaptation for AI applications [3] - In June, the overall content and product output from the "Haina" MCP Server exceeded 8 million, marking a nearly 80% increase compared to May [3]

Core Insights - The core business of the company, "What Worth Buying," has facilitated 42 brands to achieve over 10 million GMV (Gross Merchandise Volume) during the 618 shopping festival, with content publication volume increasing by 17.28% year-on-year [1] - The 618 shopping festival this year, which started on May 13, is the longest in history, focusing on long-term operations and easing shopping pressure, reflecting a shift towards quality and interest-driven consumption [1][2] Group 1: Sales Performance - The top five GMV categories on the "What Worth Buying" platform during the 618 period were mobile communication, home appliances, computer systems, household electrical appliances, and computer accessories [1] - The fastest-growing categories in terms of GMV year-on-year were gaming hardware (180.18%), dining and food (91.37%), office equipment (35.04%), electronic education (33.11%), and smart devices (24.60%) [1] Group 2: Consumer Trends - Consumers are increasingly opting for "upgrading" products with better features and specifications, driven by government subsidies and promotional events [2] - The "old for new" program has significantly boosted sales in categories like computers, home appliances, and home decor, with a year-on-year GMV increase of 12.82% [2] Group 3: Brand Engagement - The LABUBU brand saw a GMV increase of 53.60% on the "What Worth Buying" platform during the 618 period, with a notable spike of 231.91% in interest following a viral auction event [3] - The 618 shopping festival serves as a critical platform for brands and platforms to deepen user connections and test their comprehensive capabilities [3][4] Group 4: Market Outlook - The 618 festival is viewed as a key indicator of consumer resilience and innovation in China, with the explosive growth of interest-driven consumption highlighting the ongoing demand for new business models [4]

Core Viewpoint - The company is implementing a "comprehensive AI" strategy in 2024 to enhance business efficiency and reshape its commercial ecosystem through AI technology applications in various business areas, including consumer content, smart marketing, and consumer data [1][3]. Group 1: AI Strategy and Product Matrix - The company has developed an AI product matrix consisting of "1 large model, 2 databases, 3 engines, and 4 types of applications" to support its AI strategy [2]. - The "large model" is the "Zhidingmai Consumption Model," trained on 300G of consumer data and completed through 1.2 billion iterations, providing intelligence for AI products and applications [2]. - The "databases" include a "product database" with 1 billion product entries and a "content database," which also offers data services to third-party model companies [2]. Group 2: Cost Reduction and Efficiency Improvement - The company is leveraging AI technology to enhance efficiency and reduce costs across various business and management processes, with a focus on AIGC as a key strategic project since 2023 [3]. - In 2024, the content publishing volume on the "Zhidingmai" platform reached 34.0419 million, a year-on-year increase of 19.31%, while reducing the cost per content piece [3]. Group 3: Content Review and User Satisfaction - The company has restructured the content review process on the "Zhidingmai" platform using the AIUC engine, reducing human involvement and standard deviation in reviews [4]. - In 2024, the time for reviewing original content was shortened by 75%, and the volume of content requiring human review decreased by 57%, leading to improved user satisfaction [4]. Group 4: Ecosystem Collaboration - The company is actively participating in the co-construction of third-party AI ecosystems, aiming to optimize consumer decision-making experiences as information acquisition methods evolve [4]. - Collaborations have been established with various general model companies and smart terminal products to provide consumer content information and accelerate AI technology development [5].

Core Viewpoint - The company, Zhidingmai Technology, emphasizes its commitment to sustainable development through its 2024 ESG report, focusing on the integration of AI technology to drive business progress and social welfare [3][4]. Group 1: Sustainable Development Strategy - Zhidingmai Technology has released its 2024 ESG report, marking the fourth consecutive year of independent ESG reporting [1]. - The report highlights the theme of "sustainable development," aiming to achieve a symbiotic relationship between corporate growth and social welfare through technological innovation [3]. - The founder and chairman, Sui Guodong, stated that the company will continue to implement its ESG strategy, enhancing governance, optimizing business processes, and increasing operational efficiency to create greater value for shareholders [3][4]. Group 2: AI-Driven Business Transformation - In May 2024, Zhidingmai Technology initiated a "comprehensive AI" strategy to enhance business efficiency and provide better services to users, creators, and brands [4]. - By the end of 2024, the company aims to establish an AI product matrix consisting of "1 large model, 2 databases, 3 engines, and 4 application categories," integrating AI technology across all business areas [4]. - The company reported a 19.31% year-on-year increase in content published on its platform, totaling 34.04 million articles in 2024 [4]. Group 3: Corporate Governance - The governance system of Zhidingmai Technology has been continuously optimized, focusing on compliance and organizational development [5][6]. - The company has strengthened its investor relations management system and improved internal control mechanisms, ensuring timely and accurate information disclosure to all stakeholders [6]. - In October 2024, Zhidingmai Technology received the highest A-level rating for information disclosure from the Shenzhen Stock Exchange for the 2023-2024 period [6]. Group 4: Social Responsibility - The company is expanding its social responsibility initiatives through its AI-integrated consumption ecosystem, focusing on areas such as promoting consumption, supporting rural revitalization, and enhancing public welfare [7]. - In 2024, Zhidingmai Technology launched several initiatives, including a "national subsidy zone" and a "trade-in zone," contributing to a GMV of 740 million yuan from the "national subsidy" label [7]. - The establishment of the "Beijing Zhiding Tongxing Public Welfare Foundation" in February 2024 marks the completion of a comprehensive public welfare system [7]. Group 5: Environmental Protection - Zhidingmai Technology is actively promoting environmental protection through various initiatives, advocating for green consumption and low-carbon practices [10]. - The company encourages employees to engage in eco-friendly activities and implements sustainable practices such as paperless operations and water conservation [10]. - The company aims to balance economic and social benefits while striving for a better world through its ESG principles [10].

Core Viewpoint - The company "值得买" (Zhi De Mai) has reported a year of revenue and profit growth in its 2024 annual report, highlighting significant advancements in AI technology and its application in the e-commerce sector [1][2][3]. Financial Performance - The company's revenue reached 1.518 billion yuan, a year-on-year increase of 4.55% [1][2]. - The net profit attributable to shareholders was 75.24 million yuan, up 0.62% year-on-year, while the net profit excluding non-recurring items was 71.82 million yuan, reflecting a growth of 13.93% [1][2]. - The revenue composition shows that information promotion income was the largest segment at 672 million yuan, accounting for 46.59% of total revenue [2]. AI Strategy and Development - In 2024, the company invested 182 million yuan in R&D, a 10.52% increase from the previous year, representing 11.96% of total revenue [1][7]. - The company established an AI product matrix consisting of "1 large model, 2 databases, 3 engines, and 4 types of applications" [3][4]. - The "Zhi De Mai Consumption Model" was trained using 300GB of consumer data, completing 120 million iterations to support AI products and applications [3]. User Engagement and Growth - As of December 31, 2024, the registered user count for "什么值得买" reached 30.35 million, a 5.03% increase year-on-year [3]. - The mobile app activation reached 77.59 million, reflecting an 8.05% growth [3]. - The platform processed approximately 195 million orders in 2024, with a total GMV of 19.3 billion yuan [2]. AI-Driven Content and Services - The content published on the platform reached 34.04 million, a 19.31% increase, with AI-generated content accounting for 44.10% of total content published [4][5]. - The AI shopping assistant "小值" was launched, providing personalized recommendations and price comparisons, with its service volume increasing by 40.1% during the "双11" shopping festival compared to "618" [5][6]. Industry Context - The e-commerce industry in 2024 presents both opportunities and challenges, with AI technology being a focal point for growth [2][6]. - The company has formed partnerships with various AI model companies and smart device products to enhance its AI capabilities and consumer data utilization [7].

Core Viewpoint - The article emphasizes the transformative impact of generative AI on various industries, likening it to the industrial revolution brought by electricity. It highlights the rapid growth of AI applications and the necessity for companies to adapt and innovate in this new era of AI 2.0 [2][5][16]. Group 1: AI Revolution and Industry Transformation - Generative AI is seen as a revolutionary force, with DeepSeek achieving 20 million daily active users in just 20 days, surpassing the initial growth of ChatGPT, indicating a shift towards a participatory AI era [2]. - Companies are urged to rethink how AI can drive change across industries and how to harness its potential for tangible outcomes [2][3]. - The need for industries to embrace AI is becoming a consensus, as AI is reshaping the foundational logic of technology ecosystems [5]. Group 2: Challenges and Opportunities for Developers - Many AI products are still in the deployment phase rather than being deeply integrated, leading to a disconnect between the capabilities of large models and the specific needs of vertical applications [5]. - The traditional technology architecture is insufficient for enhancing user experience, necessitating a fundamental technological restructuring [5]. - The choice of technological foundation is critical for companies to build their next-generation core competencies, with HarmonyOS positioning itself as a key player in this transition [5][7]. Group 3: HarmonyOS and Developer Support - HarmonyOS offers comprehensive support for developers throughout the product lifecycle, including design, development, testing, and distribution, while also providing system performance advantages [7]. - The system has integrated over 15 AI capabilities, allowing developers to easily implement complex functionalities with minimal coding [7][8]. - A partnership with DeepSeek enhances developer efficiency by providing real-time code assistance and logical extensions, facilitating the deployment of optimized AI models [8][9]. Group 4: Ecosystem and Market Dynamics - HarmonyOS is redefining ecosystem rules by creating new entry points for applications, moving away from a centralized app store model to a more user-intent-driven approach [11]. - The introduction of "meta-services" allows lightweight applications to operate without installation, shifting the focus from download numbers to service value [11]. - The collaboration between developers and HarmonyOS is fostering a new model where both parties contribute to creating applications that meet contemporary demands [9][12]. Group 5: Future Goals and Market Potential - HarmonyOS aims to establish a robust ecosystem with a target of 100,000 applications by 2025, indicating a significant growth ambition [14][15]. - The platform's unique capabilities, including multi-device integration and real-time AI analysis, are expected to enhance user experience and expand market opportunities [15][13]. - The evolution of digital civilization requires deep collaboration between developers and platforms to achieve a dual leap in technology and ecosystem [16].