Core Viewpoint - The company aims to shift its focus towards international business due to favorable market opportunities and strong demand in the global market [2] Financial Performance - In the first half of 2025, the company achieved a revenue of 797 million yuan, a year-on-year increase of 12.2% [2] - The steel trading volume reached 63.8 billion yuan, with a transaction volume exceeding 19.1 million tons [2] - The overall gross profit for the first half of 2025 was 182 million yuan, with contributions from trading services, trading support services, and technology subscription services being 67%, 7.8%, and 6.2% respectively [2] International Business Development - The international business revenue for the first half of 2025 was 340 million yuan, reflecting a year-on-year growth of 38.9% [3] - The trading volume in international business reached 71,000 tons, with a year-on-year increase of 58.0% [3] - The gross profit from international business was 29 million yuan, showing a year-on-year increase of 90.5% [3] - The company has established subsidiaries in several countries including the UAE, Saudi Arabia, Thailand, Malaysia, and Indonesia to enhance its overseas operations [3] Non-Steel Business Expansion - The company has diversified into non-steel sectors, including electronics and non-ferrous metals, with the e-commerce platform for non-ferrous metals currently in trial operation [6] - In the first half of 2025, the gross merchandise volume (GMV) for the non-steel business reached 210 million yuan, a year-on-year increase of 23.0% [6] - The AI commercialization capabilities have improved, with the AI trading assistant and other data assets being developed [6][7] Financial Technology Initiatives - The company has re-entered the financial technology sector through a partnership with Chongqing Fumin Bank, focusing on data and transaction scenarios without bearing actual risks [7] - The new financial model aims to generate data-related income while minimizing risk exposure [7] Future Outlook - The company expresses confidence in future growth, anticipating significant profitability from both domestic and international operations in the coming years [7]

Core Viewpoint - The company has achieved significant progress in various business areas, driven by its strategy focusing on stable domestic growth, globalization, diversification, and comprehensive AI integration [1] Group 1: Financial Performance - In the first half of 2025, the company reported revenue of 797 million, a year-on-year increase of 12.2% [2] - The steel trading volume reached 638 billion, with a total tonnage exceeding 19.1 million tons, showing a 15.2% increase compared to Q4 of the previous year and a 54.8% increase from Q1 [2] - The service commission for small and medium-sized enterprises increased by 27.5% year-on-year [2] Group 2: International Business Growth - The international business revenue reached 340 million, a year-on-year increase of 38.9%, with trading tonnage up by 58.0% and gross profit up by 90.5% [4] - The company is involved in major infrastructure projects in Southeast Asia, addressing supply chain challenges for Chinese enterprises [4] - In Southeast Asia, the trading volume reached approximately 45,000 tons, with a 441% increase compared to the second half of 2024 [4] Group 3: Non-Steel Business Performance - Non-steel trading volume reached 210 million, a year-on-year increase of 23.0%, with the electrical and electronic business growing by 108.9% [7] - The company launched a new e-commerce platform for non-ferrous metals, achieving over 25 million in trial trading volume [7] - AI commercialization has progressed, with the company signing new AI product sales contracts worth 323,000 [7] Group 4: Financial Services and Product Expansion - The company has resumed its financial technology business, serving 23 clients with an approved credit limit of approximately 4 billion [10] - A new marketplace for steel pipes and profiles has been launched, integrating over 400 suppliers to enhance trading services [10] - The company aims to leverage AI systems to optimize the entire trading process [10] Group 5: Future Outlook - The company is on track to become the largest AI industrial internet platform globally, driven by rapid growth in new business areas and international expansion [12]

Core Viewpoint - The company, Zhaogang Group, reported a strong performance in the first half of 2025, with significant growth in both revenue and international business, driven by strategic initiatives in AI and diversification of services [1][2][3][4][5][8][9] Group 1: Financial Performance - In the first half of 2025, Zhaogang Group achieved a revenue of 797 million yuan, representing a year-on-year increase of 12.2% [1] - The platform's steel trading volume reached 638 billion yuan, with a total trading tonnage exceeding 19.1 million tons, showing a quarter-on-quarter increase of 54.8% from the first quarter [2] - The international business revenue grew by 38.9% to 34 million yuan, with trading tonnage increasing by 58.0% and gross profit rising by 90.5% [3] Group 2: Strategic Initiatives - The company is focusing on a strategy of stable domestic growth, globalization, diversification, and full AI integration, leading to breakthroughs in multiple business areas [2] - Zhaogang Group is actively expanding its international presence, with subsidiaries established in several countries, including the UAE and Malaysia, to capitalize on infrastructure demands [3] - The company is exploring the application of stablecoins and RWA in overseas markets to enhance transparency and reduce credit costs in commodity trading [3] Group 3: Non-Steel Business Expansion - Non-steel business transactions reached 21 million yuan, marking a year-on-year growth of 23.0%, with the electrical and electronic sector seeing a remarkable increase of 108.9% [4] - The company has launched a non-ferrous metal e-commerce platform in collaboration with Trafigura, achieving a trial transaction volume of over 25 million yuan [5] Group 4: AI and Technology Integration - Zhaogang Group's AI strategy has led to significant operational efficiency improvements, with a reduction in operating expenses by 0.3% year-on-year [5] - The company has developed various AI-driven tools, including a trading assistant and logistics tracking app, contributing to a total data asset valuation of 2.3 million yuan [5] Group 5: Financial Services and Product Diversification - The company has resumed its financial technology business by partnering with Chongqing Fumin Bank, serving 23 clients with an approved credit limit of approximately 4 billion yuan [8] - Zhaogang Group is set to launch a new marketplace focusing on small steel varieties, integrating resources from over 400 leading steel mills and traders [8]

Core Insights - The company, Zhaogang Group, reported a robust performance in the first half of 2025, achieving a revenue of 797 million yuan, a year-on-year increase of 12.2% [2] - The company is focusing on a strategic framework that includes domestic stability, globalization, diversification, and comprehensive AI integration [1] Domestic Performance - In the first half of 2025, Zhaogang Group's steel trading volume reached 638 billion yuan, with a total transaction tonnage exceeding 19.1 million tons [2] - The platform has registered over 16,000 suppliers and 189,000 customers, covering more than 650,000 SKUs [2] - The service commission for small and medium-sized enterprises increased by 27.5% year-on-year [2] International Expansion - The international business revenue reached 340 million yuan, marking a year-on-year growth of 38.9%, with transaction tonnage increasing by 58.0% [4] - The company is actively involved in major infrastructure projects in Southeast Asia, such as the China-Thailand high-speed railway and the Malaysia logistics center, addressing supply chain challenges for Chinese enterprises [4] - A processing plant in Dubai is set to be operational by the end of the year, with an annual production capacity of 400,000 tons [5] Non-Steel Business Growth - Non-steel sector transactions amounted to 210 million yuan, reflecting a year-on-year increase of 23.0%, with the electrical and electronics segment growing by 108.9% [7] - The company has launched a new e-commerce platform for non-ferrous metals in collaboration with Trafigura, achieving a trial transaction volume exceeding 25 million yuan [7] AI Integration and Efficiency - The company has made significant strides in AI commercialization, with a new AI model registered and sales contracts worth 323,000 yuan signed during the reporting period [7] - The operational efficiency improved, with operating expenses decreasing by 0.3% compared to the previous year [7] Financial Services and Product Expansion - Zhaogang Group has resumed its financial technology services, partnering with Chongqing Fumin Bank and serving 23 clients with a total approved credit of approximately 4 billion yuan [9] - The company is set to launch a new trading platform focusing on small varieties of steel products, integrating resources from over 400 leading steel mills and traders [9] Future Outlook - The company aims to become the world's largest AI industrial internet platform, driven by rapid growth in new business areas, international expansion, and AI commercialization [11]