Core Viewpoint - The company, Yealink Network, anticipates a decline in net profit for the first half of 2025 due to uncertainties in the international trade environment, despite stable gross margins and ongoing sales efforts [1][2]. Financial Performance - Yealink Network projects revenue for the first half of 2025 to be between 2.64 billion and 2.667 billion yuan, representing a year-on-year decrease of 0% to 1% [1]. - The expected net profit is between 1.224 billion and 1.251 billion yuan, reflecting a year-on-year decline of 8% to 10% [1]. - The company's non-recurring net profit is estimated to be between 1.14 billion and 1.165 billion yuan, down 7% to 9% year-on-year [1]. Business Operations - The company has made orderly progress in expanding its sales operations, but the uncertainties in the international trade environment have disrupted short-term business developments [1]. - The transition period for the relocation of overseas production capacity has caused a temporary impact on order shipments [1]. - Despite macroeconomic challenges, the company's gross margin remains stable, although the expense ratio has increased due to lower-than-expected revenue growth and the impact of tariff policies [1]. Market Environment - Yealink Network has previously disclosed risks related to international trade policies and tariffs, highlighting the potential challenges posed by the current unstable global political environment and complex geopolitical situations [2]. - The implementation of "reciprocal tariffs" by the U.S. government since 2025 has raised concerns about increased tariff costs, which could compress profit margins and affect the stability of overseas order deliveries [2]. - The company is closely monitoring policy developments and has deployed strategic measures to adapt to potential changes in trade policies [2]. Shareholder Actions - Recently, the company announced that its actual controller's concerted action party, Xiamen Yiwanlian Information Technology Service Co., Ltd., plans to reduce its shareholding by up to 1.8 million shares, representing no more than 0.14% of the total share capital [3]. - The reason for the reduction is attributed to personal funding needs of certain shareholders, with the selling price determined based on market conditions at the time of the sale [3].

Core Viewpoint - Company expects a slight decline in revenue and net profit for the first half of 2025, continuing a trend of negative growth observed in the first quarter [1][2] Financial Performance - Estimated revenue for January to June 2025 is between 26.40 billion to 26.67 billion yuan, a decrease of 0% to 1% year-on-year [1] - Estimated net profit attributable to shareholders is between 12.24 billion to 12.51 billion yuan, a decline of 8% to 10% year-on-year [1] - Net profit after excluding non-recurring gains and losses is projected to be between 11.399 billion to 11.649 billion yuan, down 7% to 9% year-on-year [1] Business Environment - The company cites uncertainties in the international trade environment as a factor affecting short-term business progress [1] - The transition period for overseas production capacity has caused temporary impacts on order shipments [1] - Despite macroeconomic challenges, the company's gross margin remains stable, although the expense ratio has increased due to lower-than-expected revenue growth and tariff policies [1] Shareholder Activity - Major shareholders plan to reduce their holdings by up to 1.8 million shares, representing 0.14% of the total share capital, due to personal funding needs [2] - Previous significant share reductions by shareholders have led to stock price declines [3] Business Focus - Company maintains a stable competitive position in core business areas with good downstream market demand [2] - The company emphasizes core technology innovation and global layout strategies to ensure product competitiveness and operational efficiency [2] - Main products include business headsets, portable conference phones, and personal mobile office cameras [2]