1. Report Industry Investment Rating - No relevant information provided in the content 2. Core View of the Report - The report focuses on the development and prospects of Tianli Technology in the Internet service industry. It discusses various aspects such as the company's business strategies, responses to market competition, and future plans to enhance its core competitiveness and profitability [23][24][32] 3. Summary by Related Catalogs 3.1. 01 -调研基本情况 (Basic Information of the Research) - The research object is Tianli Technology, belonging to the Internet service industry. The reception time was on August 26, 2025. The listed company's reception personnel included independent directors Zhao Hechun and Zhang Jun, and the financial director and board secretary Gu Lanfang [16] 3.2. 02 -详细调研机构 (Detailed Research Institutions) - The reception object was all investors who participated online in Tianli Technology's (300399) 2025 semi - annual performance briefing, and the reception object type was "other" [19] 3.3. 03 -调研机构占比 (Proportion of Research Institutions) - No relevant content provided 3.4. 04 -主要内容资料 (Main Content Information) - **Business Direction and Capital Utilization**: The company's state - owned enterprise reform selects insurance business (70% of the main business) to support the development of new - quality productivity. However, the company uses idle funds to buy bank financial products. The company will increase investment in 5G, large - scale insurance, large - scale health, and AI computing in the second half of the year, and allocate resources according to the development of the main business [23][24] - **Competition Response**: To maintain and increase market share in the face of fierce competition, the company will focus on continuous technological innovation, business transformation and upgrading, and attracting outstanding talents [25] - **Insurance Business Expansion**: The company, an early entrant in the insurance field with full - license solutions, will output scenario - based insurance products and services. It is currently promoting key projects such as the "Yuankang" project in the large - health field, the "Travel Care - free" series in the vehicle ecosystem, and the insurance mall and intelligent claims settlement projects [26][30] - **Dividend Policy**: The company will optimize the dividend policy to provide more returns to investors [27] - **Seizing Industry Opportunities**: The company will promote the development of its main business by increasing R & D investment, improving the marketing network, expanding the partner ecosystem, and optimizing the management system [28][29] - **Current Difficulties**: The company faces difficulties such as sub - optimal business upgrading or transformation, fluctuations in gross profit margin due to market competition, and less - than - expected innovation. It is taking measures to address these issues [31] - **Second - Half Plan**: In the second half of the year, the company will focus on digital transformation and new business development. In terms of business, it will drive gross profit margin improvement through cost - reduction and efficiency - enhancement measures and business transformation. In terms of management, it will improve management capabilities to support new business development [32][33][34]

Group 1 - The company held a semi-annual performance briefing on August 26, 2025, with participation from independent directors and the financial director [1] - Investors raised concerns about the company's focus on insurance business and the use of long-term capital for bank financial products, questioning how the company plans to enhance technological innovation in the second half of the year [1] - The company emphasized its commitment to R&D innovation, planning to increase investments in 5G, large insurance, health, and AI computing to enhance core competitiveness [1][2] Group 2 - In response to competitive pressures, the company outlined strategies to improve core competitiveness through continuous technological innovation, business transformation, and talent acquisition [1][2] - The company is actively expanding its insurance services and has ongoing key projects, including accident protection for insured vehicles and smart claims projects [2] - The company acknowledged challenges such as business transformation not meeting expectations and market competition affecting gross margins, and it plans to focus on digital transformation and new business development in the second half of the year [2]

Group 1: Company Strategy and Focus Areas - The company emphasizes the importance of R&D innovation, planning to increase investments in 5G, insurance, health, and AI technologies to achieve significant breakthroughs [2][5]. - The company aims to enhance its digital and intelligent capabilities, creating a standardized and comprehensive service system to improve core competitiveness and sustainable development [2][3]. - The company plans to optimize the use of idle funds through proactive management, ensuring maximum asset returns while supporting its main business development [2][3]. Group 2: Market Competition and Response Strategies - In response to intense market competition, the company will focus on continuous technological innovation, timely product development, and strategic adjustments to maintain and expand market share [5][7]. - The company intends to enhance its talent acquisition efforts to support ongoing innovation and business development [5][7]. - The company is committed to improving its marketing network and expanding its partner ecosystem to provide stable foundations for business operations [7][8]. Group 3: Insurance Sector Development - The company is actively developing new service scenarios in the insurance sector, leveraging its comprehensive capabilities in insurance brokerage and technology [6][8]. - Key projects in the insurance sector include "Yuan An Kang" for cancer patient rehabilitation, "Travel Worry-Free" for vehicle insurance, and an insurance marketplace for smart claims [8]. - The company is focused on embracing industry changes and providing scenario-based insurance products to support client development and ensure sustainable growth [6][8]. Group 4: Financial Performance and Shareholder Returns - The company is committed to optimizing its dividend policy to enhance shareholder returns while continuously improving performance [7]. - The company plans to implement cost reduction and efficiency enhancement strategies to drive profit margins higher [8]. - The company will focus on digital transformation and new business development to strengthen its core competitiveness and profitability [8].