Core Insights - Company reported a significant revenue increase of 123.98% year-on-year, reaching 429 million yuan, primarily driven by breakthroughs in the security artificial intelligence business [1] - Despite the revenue growth, the company experienced a net loss of 109 million yuan, which is an increase of 77.52% compared to the previous year [1] Financial Performance - Revenue for the first half of 2025 was 429 million yuan, showing a year-on-year growth of 123.98% [1] - Net profit loss expanded to 109 million yuan, reflecting a year-on-year increase of 77.52% [1] - Sales expenses surged to 362 million yuan, a staggering increase of 739.30%, accounting for 84.38% of total revenue, mainly due to increased channel consulting fees during new business expansion [1] - Research and development expenses decreased to 63 million yuan, down 12.32% year-on-year, with the number of R&D personnel dropping from 207 to 105 [1] Strategic Developments - The company has upgraded its strategy to become a builder of secure computing power ecosystems in the AI era, focusing on expanding its security AI product categories [1] - New products include computing power gateways, heterogeneous orchestration scheduling platforms, and ultra-quiet liquid-cooled intelligent computing integrated machines [1] - The company launched an AI delivery architecture centered around the Luban security large model [1] Management Changes - The company’s board secretary, Ms. Dan Chen, resigned on August 21 for personal reasons and will no longer hold any position, while her 19,000 shares remain unchanged [1] - Chairman Zhong Zhu is temporarily taking over the duties of the board secretary [1]