Group 1 - The core business of online marketing solutions generated a total billing amount of approximately RMB 11.863 billion for the first nine months of 2025, representing a year-on-year increase of about 35.3% compared to the same period in 2024, driven by deeper collaboration with core clients and active expansion of customer and media channels [1] - The retention rate for group advertising clients with billings exceeding RMB 10 million was 94.0%, with 224 new clients added, resulting in a year-on-year increase of 5.9% in total client numbers [1] - The company has expanded its industry coverage to include gaming, financial services, travel, and education, significantly enhancing the breadth and diversity of its client base [1] Group 2 - The overseas e-commerce business strategy initiated at the end of last year has successfully launched in countries such as the United States, the United Kingdom, and Japan, achieving a total gross merchandise volume (GMV) of RMB 41.9 million for the nine months ending September 30, 2025 [2] - The successful expansion into overseas markets represents the company's initial business attempt in the global market, which is expected to drive long-term value growth and create new development space [2] - The company has successfully acquired an overseas short drama platform, launching a strategic layout for overseas short drama business, which features an innovative "interactive chat with characters" function, enhancing user engagement [2]

Group 1 - The total billing amount from the online marketing solutions business reached approximately RMB 11.863 billion for the first nine months of 2025, representing a year-on-year increase of about 35.3% compared to the same period in 2024, driven by deeper collaboration with core clients and active expansion of customer and media channels [1] - The retention rate for group advertising clients with billings exceeding RMB 10 million was 94.0%, with 224 new clients added, resulting in a year-on-year increase of 5.9% in total client numbers [1] - The company has expanded its industry coverage to include gaming, financial services, travel, and education, significantly enhancing the breadth and diversity of its client base [1] Group 2 - The overseas e-commerce business strategy initiated at the end of last year has successfully launched in countries such as the United States, the United Kingdom, and Japan, achieving a total gross merchandise volume (GMV) of RMB 41.9 million for the nine months ending September 30, 2025 [2] - The successful expansion into overseas markets represents the company's initial business attempt in the global market, which is expected to drive long-term value growth and create new development space [2] - The company has successfully acquired an overseas short drama platform, launching its overseas short drama business strategy, which features an innovative "interactive chat with characters" function to enhance user engagement, with an average daily active user (DAU) exceeding 100,000 [2]

Core Insights - The company reported a total billing amount of approximately RMB 11.863 billion for the online marketing solutions business for the nine months ending September 30, 2025, representing a year-on-year increase of about 35.3% [1] - The retention rate for group advertising clients with billings exceeding RMB 10 million was 94.0%, with 224 new clients added, marking a 5.9% year-on-year increase in total client numbers [1] - The company has expanded its industry coverage to include gaming, financial services, travel, and education, significantly enhancing the breadth and diversity of its client base [1] Business Developments - The company's intelligent creative platform, YouChuang, has undergone further upgrades, now featuring key creative functions such as image generation, script writing, voice synthesis, and intelligent video editing [1] - The average daily image generation capability of the image generation function is over 2,000 images per person, while the platform's monthly video output has reached 320,000, with overall efficiency improving by 161% year-on-year [1] - The intelligent advertising platform, YouLiang, has successfully integrated with seven mainstream media ecosystems, serving clients across seven vertical industries including e-commerce, finance, online services, and gaming, thereby enhancing the intelligence and operational efficiency of the company's online marketing solutions [1]