Core Insights - Weimob Group reported a total revenue of RMB 775 million for the first half of 2025, with an adjusted year-on-year increase of 7.8% after accounting for the impact of reduced rebate rates for merchant solutions in the first half of 2024 [1] - The company achieved an adjusted EBITDA of RMB 72 million, marking its first profit since 2022, and an adjusted net profit of RMB 17 million, its first profit since 2021 [1] - Overall revenue quality improved, with a gross profit of RMB 582 million and a gross margin increase from 66.4% to 75.1%, a year-on-year increase of 8.7 percentage points [1] Revenue Breakdown - AI-related revenue reached approximately RMB 34 million, benefiting from breakthroughs in AI commercialization [1] - Subscription solutions revenue was RMB 438 million, showing a quarter-on-quarter increase of 1.38% [1] - Merchant solutions revenue was RMB 338 million, with a year-on-year growth of 45.3% after adjusting for the rebate rate impact, and a gross margin increase from 74.5% to 91.3% [1] User Engagement and Product Development - The average monthly active merchant count for WAI SaaS grew by 57% compared to the second half of 2024 [2] - The usage of the store setup agent increased by 4.5 times, and the number of merchants using product listing features grew by 3.9 times [2] - The number of registered users for WIME, an AI website building tool, reached 116,000, a 139% increase from the end of 2024, with revenue rising by 172% [2] Market Position and Client Growth - Weimob's smart retail revenue was RMB 286 million, accounting for 65.2% of subscription solutions revenue, with a total of 8,323 merchants [3] - The average order revenue per brand merchant was RMB 179,000, with significant growth in GMV for clients using integrated solutions [3] - The number of paid merchants for merchant solutions grew by 1.5% to 39,281, with an average spending of RMB 219,523 per paid merchant, an increase of 1.9% [3] Future Outlook - The company plans to fully embrace AI and promote the application of AI Agents, while continuing to strengthen its presence in the WeChat e-commerce ecosystem [4] - Weimob aims to explore international markets, particularly in North America, and enhance its capabilities in local life services [4] - The focus for the second half of 2025 will be on high-value clients and optimizing resource allocation to enhance operational quality and explore new growth opportunities through AI [4]