Investment Rating - The investment rating for the company is "Outperform the Market" (maintained) [1][9] Core Viewpoints - The company has been selected as a city partner for the construction of the Harmony ecosystem in Xi'an, collaborating with various industry partners to create a leading smart transportation ecosystem [2][3] - The company's all-scenario AI business has seen significant growth, with revenue reaching 656 million yuan in the first half of 2025, representing a year-on-year increase of 130% [2][6] - The company maintains its profit forecast, expecting revenues of 18.881 billion, 21.071 billion, and 23.467 billion yuan for 2025, 2026, and 2027 respectively, with corresponding net profits of 693 million, 914 million, and 1.045 billion yuan [2][9] Summary by Sections Company Overview - The company has been appointed as the leading unit for the smart transportation field in Xi'an, working with multiple partners to implement a full-chain approach in consulting, planning, design, products, solutions, and industry [2][3] AI Business Growth - The all-scenario AI business has become a new growth engine for the company, with a structured 4E AI system that includes various product families and industry applications, contributing to significant revenue growth [6][9] Financial Forecast - The company forecasts revenue growth rates of 11.4%, 11.6%, and 11.4% for the years 2025, 2026, and 2027, with a corresponding price-to-earnings ratio of 24, 18, and 16 times [2][9]

Group 1 - The core viewpoint of the article highlights that China Software International (00354.HK) reported a revenue of RMB 8.507 billion for the first half of 2025, reflecting a year-on-year growth of 7.3% [1] - The company's diversified business showed positive trends, with core customer revenue experiencing steady growth and the foundational business stabilizing [1] - The all-scenario AI business emerged as a new growth engine, generating approximately RMB 656 million in revenue, which represents a significant year-on-year increase of 130% [1] Group 2 - The profit attributable to the owners of the group for the period was RMB 316 million, marking a year-on-year increase of 10.4% [1]