Financial Performance - Company reported total revenue of 211 million yuan for the first half of 2025, a year-on-year increase of 5.43% [1] - Net profit attributable to shareholders reached 11.67 million yuan, up 55.32% year-on-year [1] - In Q2 2025, total revenue was 153 million yuan, reflecting a 19.64% increase year-on-year, while net profit was 22.15 million yuan, up 126.37% year-on-year [1] - Gross margin improved to 46.86%, an increase of 11.34% year-on-year, and net margin rose to 5.54%, up 47.61% year-on-year [1] - Total operating expenses (selling, administrative, and financial) amounted to 44.12 million yuan, accounting for 20.9% of revenue, an increase of 8.89% year-on-year [1] Accounts Receivable - Company has a significant accounts receivable balance, with accounts receivable amounting to 807.44% of the latest annual net profit [1][2] Business Growth Drivers - Growth in immigration and comprehensive policing business, with a 43.9% increase in the number of people checked by immigration management agencies in 2024 [3] - Rapid expansion in overseas markets for security documents, with overseas revenue of 131 million yuan, a 29% increase year-on-year, and actual contributions from overseas clients reaching 176 million yuan, up 72.51% year-on-year [3] - Introduction of smart delivery solutions, resulting in a 216% revenue increase compared to the previous year [3] - Innovations in smart transportation products, with successful launches in various cities and exploration of overseas markets [3]

Group 1: Company Performance and Growth Drivers - The main growth points for the company in 2024 include a 43.9% increase in the number of people checked by immigration management agencies, totaling 610 million [2] - The company’s security document business saw overseas revenue reach 131 million, a 29% increase year-on-year, while actual contributions from overseas clients amounted to 176 million, marking a 72.51% growth [3] - The company’s smart mailing solutions led to a 216% revenue increase, with a 79% success rate in winning bids for postal projects [3] Group 2: Future Growth Strategies - The company aims to leverage AI technology to enhance product value and expand into new markets, focusing on trusted identity products and solutions [4] - Plans include strengthening overseas strategic layouts and building an ecosystem around the Belt and Road Initiative, targeting projects in various sectors such as election and government services [4] Group 3: Core Competencies and Competitive Advantages - The company’s core competencies include technological innovation, with over 30% of staff in R&D and advanced security document technologies [5] - It is the only Chinese company listed as a supplier of machine-readable travel documents by ICAO, enhancing its recognition in overseas markets [5] - The company has a robust manufacturing quality management system and extensive project implementation experience, allowing for rapid customization to meet diverse client needs [5] Group 4: Competitors in Overseas Markets - Major competitors in the overseas market include Entrust from the USA and Neopost from Germany [6]

（1）AI技术驱动战略，从智能设备到场景智能体服务商。公司 深耕可信身份领域，凭借深厚的技术沉淀与积累，相关技术及产品已 广泛应用于国内外多行业多场景之中，特别是数字身份凭证制作设备 及证件工艺，已比肩国际一流企业水准。在技术快速变革的当前，我 们仍然有许多短板和差距，需要快速补齐。2025年，紧跟行业前沿， 充分融合人工智能、机器人、大模型等先进技术要素，全力推动公司 技术迭代升级，产品精益求精，重构我们的智慧政务、智慧交通的设 备类产品，变为场景智能体服务商。 （2）加大海外战略布局，完善产业链，建设海外生态圈。公司 将围绕国家"一带一路"的发展战略，基于雄帝科技在可信身份领域 及安全证照的专业能力、创新能力、服务能力，以证件类、选举类、 政务类项目为主要业务目标，结合不同国家的实际需求，提供符合本 地需求的专业的整体解决方案，同时在技术创新、商业模式创新打开 新思路，继续打造好布基纳法索国家的运营模式样板，争取将该模式 复制到更多国家，推进本地化运作，建立本地化队伍，实现多维、多 模式的产业生态。同时，加强海外业务的产业链及生态建设。积极布 局，确定方向，加大对东南亚、中东、非洲、南美等地区的投入，对 ...