Core Viewpoint - The article highlights the significant growth of Yunzhisheng's large model business, which has driven rapid revenue increases in two key business scenarios: daily life and healthcare [3][4]. Financial Performance - In the first half of 2025, Yunzhisheng reported a revenue of 405 million RMB, representing a year-on-year growth of 20.2% [4]. - Revenue from the large model business surged by over 457% to nearly 100 million RMB [4]. Technology Development - The Shanhai large model, upgraded from the UniCore model based on BERT to a GPT architecture, has expanded its capabilities, including retrieval-augmented generation (RAG), intelligent agents, multimodal fusion, and deep reasoning [6]. - The model's parameter scale has exceeded 100 billion, maintaining a top-tier performance in evaluations such as OpenCompass and SuperCLUE [6]. Application in Various Sectors - The Shanhai large model enables efficient development of intelligent agents in vertical fields like healthcare and transportation, reducing the solution development cycle by over 40% [7]. - In healthcare, Yunzhisheng has developed various intelligent agent products, including medical record generation and quality control systems, which have been implemented in multiple institutions [7]. - In the smart cockpit sector, the company has successfully delivered a digital assistant intelligent agent to domestic car manufacturers, enhancing response speed while protecting user privacy [7]. Revenue Sources - The primary revenue source for Yunzhisheng comes from AI products and solutions, which are categorized into daily life and healthcare scenarios. In the first half of 2025, revenue from daily life was 335 million RMB, while healthcare revenue was 70 million RMB [10]. - The company sold 1.65 million AI chips in the first half of 2025, with cumulative sales reaching nearly 100 million chips by June 30, 2025 [14]. Client Engagement - In the daily life sector, Yunzhisheng had 309 clients, with revenue per client increasing by 20.1% year-on-year to 1.084 million RMB [14]. - In the healthcare sector, revenue per client reached 1.013 million RMB, a significant increase of 116.2% year-on-year, driven by enhanced AI capabilities [15]. Research and Development - To maintain its leading position in the AI industry, Yunzhisheng has increased its R&D investment, with spending of 168 million RMB in the first half of 2025, accounting for 41.5% of total revenue [15]. - The company has achieved notable results in various fields, including top rankings in MedBench evaluations and participation in the development of national standards for AI large models [17].