Core Viewpoint - The company reported a revenue of 983 million yuan, a year-on-year increase of 33.83%, and a net profit attributable to shareholders of 76.11 million yuan, a year-on-year increase of 5.69% in its 2025 semi-annual report. Additionally, a high-performance stock incentive plan was announced, aiming for significant revenue and R&D expenditure growth over the next three years [1] Group 1: Business Performance - The company achieved a revenue of 983 million yuan, reflecting a 33.83% year-on-year growth [1] - The net profit attributable to shareholders was 76.11 million yuan, marking a 5.69% year-on-year increase [1] Group 2: Stock Incentive Plan - A stock incentive plan was introduced with performance assessment targets based on 2024, aiming for revenue growth rates of 30.30%, 50%, and 65% over three years [1] - Corresponding R&D expenditure growth rates are set at 18%, 35.70%, and 49.27% [1] - The high targets of the stock incentive plan are expected to enhance employee motivation and creativity, driving sustainable development [1] Group 3: Business Strategy - The company adheres to a "Life + Technology" business philosophy and a development strategy based on "one foundation and two directions" [1] - The strategy focuses on "comprehensive operation of digital goods" and emphasizes two R&D directions: IoT traffic operation and cloud terminal technology [1] Group 4: Digital Goods Operation - The company is iterating its cloud platform system to enhance service productization and expand channel scale [2] - The platform has implemented a three-layer security protection system, improving operational efficiency while optimizing costs [2] - AI large models have been integrated into the cloud platform system, transitioning from "tool-based support" to "intelligent-driven" operations [2] Group 5: IoT Development - The company launched a series of hardware products, including 4G/5G modules and solutions, enhancing its IoT product line [2] - Technological upgrades have significantly reduced hardware costs, and the application of related devices is expected to increase with the advancement of lightweight 5G networks [2] Group 6: Cloud Terminal Technology and AI - The cloud terminal technology R&D and cloud computing operations are viewed as the most promising business segments for the next two to three years [3] - The company is increasing R&D investment in AI technology to enhance internal operational intelligence and create an intelligent ecosystem for management and execution [3] - The integration of AI technology with core business segments aims to build a differentiated competitive advantage and explore emerging markets such as smart homes and intelligent terminals [3]