Core Insights - The 2025 World Artificial Intelligence Conference (WAIC) emphasizes the transformation of AI from technology to productivity, with a focus on "Agent" as a key term in the industry [1] - The sports industry is accelerating its entry into the AI value explosion phase, with companies like Crazy Sports positioning themselves as benchmarks for intelligent transformation [1] Company Strategy - Crazy Sports' strategic focus aligns with the "Agent industrialization" direction highlighted at WAIC, launching the first domestic sports vertical large model "Ruyi" in 2024 and the world's first sports prediction model "Foretell" in 2025 [3] - These initiatives reflect a shift towards practical applications of AI, emphasizing decision support and predictive capabilities in complex environments [3] Business Impact - The "Foretell" prediction platform has undergone rigorous testing during the 2025 FIFA Club World Cup, showcasing its ability to process vast amounts of event data in "second-level" updates, providing unprecedented timeliness and objectivity in sports predictions [4] - This platform exemplifies the "RaaS" (Robotics as a Service) concept, integrating predictive analytics with interactive capabilities for a comprehensive smart service portal in sports [4] Data and Policy Advantages - Crazy Sports benefits from a robust data foundation, leveraging a 25-year historical database from its platform, China Football Lottery, combined with real-time data from major global events, creating a significant data barrier for competitors [4] - National policies are driving the intelligent upgrade of the sports industry, with the government identifying sports as a key area for development, targeting a market exceeding 5 trillion yuan [5] Future Outlook - Crazy Sports' exploration in AI illustrates a clear path from short-term efficiency gains to long-term value creation, contributing valuable practices to the broader sports industry's intelligent transformation [7] - With strong data assets and favorable policies, Crazy Sports is positioned to lead the sports industry towards a more intelligent, efficient, and imaginative future [7]

Core Insights - Rebate Technology (stock code: 600228) reported significant growth in key operational metrics during the 2025 618 shopping festival, indicating strong performance and market resilience [2][4] Group 1: Operational Performance - Active user count during the 618 period increased by 209.5% year-on-year [2] - The number of guided orders rose by 123.7%, with transaction value increasing by 104.3% and rebate amount soaring by 472.1% compared to the same period in 2024 [2] - Categories such as home appliances, mobile communications, computers, digital products, and furniture led in guided transaction value, while categories like gaming/toys, second-hand goods, smart devices, pharmaceuticals, and medical equipment saw transaction value growth exceeding 200% [2] Group 2: Business Strategy and Development - The company has established a business system comprising online shopping guidance, advertising promotion, and platform technology services, driven by a dual strategy of "online shopping guidance + performance marketing" [4] - Online shopping guidance integrates product and service information through rebates, price comparisons, coupon distribution, and content marketing to direct users to third-party e-commerce platforms, generating commission and advertising revenue [4] - The company invested 30.42 million yuan in R&D in 2024, accounting for 12.47% of its main business revenue, and has obtained 163 software copyrights and 7 invention patents under substantive review [4] Group 3: International Expansion - Rebate Technology is actively exploring international markets, having signed a strategic cooperation agreement with Awin, a leading global e-commerce affiliate marketing platform, to establish cross-border promotion mechanisms [5] - This partnership aims to help domestic brands efficiently connect with European media channels, niche bloggers, and localized traffic sources, thereby reducing initial trial and error costs and enhancing the ability to tackle cross-border operational challenges [5]