Group 1 - The core viewpoint of the news is that Xindian Software (688232) is forecasting a decline in its performance for the first half of 2025, with expected revenue of 670 million yuan, representing a 14.52% decrease compared to the same period last year [1] - The company anticipates a net loss attributable to shareholders in the range of 49.46 million yuan to 74.19 million yuan, which is a significant increase from the loss of 23.67 million yuan in the same period last year [1] Group 2 - The decline in performance is primarily attributed to a 30.94% decrease in revenue from the smart government business, influenced by tightened customer budgets and extended project cycles [3] - Additionally, the smart procurement business and digital construction business experienced declines of 3.75% and 8.01%, respectively [3]

Core Viewpoint - The company is experiencing a significant decline in revenue and an increase in losses for the first half of 2025 compared to the previous year, indicating challenges in its business operations and market conditions [1][2]. Financial Performance - The company expects to achieve a revenue of 670.28 million yuan in the first half of 2025, representing a year-on-year decrease of 14.52% [1]. - The projected net loss attributable to the parent company for the first half of 2025 is between 74.20 million yuan and 49.46 million yuan, which is an increase in loss by 25.80 million yuan to 50.53 million yuan compared to the same period last year, reflecting a year-on-year increase in loss margin of 109.02% to 213.52% [1]. - The net profit attributable to the parent company, excluding non-recurring gains and losses, is expected to be between 122.10 million yuan and 81.40 million yuan, indicating an increase in loss by 7.10 million yuan to 47.80 million yuan compared to the previous year, with a year-on-year increase in loss margin of 9.55% to 64.33% [1]. Business Segments - The company's revenue from the smart procurement business decreased by 3.75% year-on-year, as it transitions from project-based fees to operational fees, aiming to optimize its business structure and enhance operational stability and risk resistance [2]. - Revenue from the smart government business fell by 30.94%, primarily due to tightened customer budgets and extended project implementation cycles, leading to unmet order expectations [2]. - The digital construction business also saw a year-on-year decline of 8.01% [2]. Future Outlook - The company is focusing on smart procurement, smart government, and digital construction, which are foundational to the construction of a digital China and have promising long-term development prospects [2]. - New technologies are driving continuous product upgrades, and increased regulatory compliance requirements are contributing to sustained market demand for the company's products [2]. - The company has launched a series of large model products and established benchmark cases in the first half of the year, with plans to accelerate product promotion and replication in the second half [2]. - There is a gradual recovery trend in order acquisition observed in the first half of the year [2].