Core Viewpoint - The company reported a stable performance in H1 2025, with a slight decline in revenue but significant growth in net profit, indicating effective cost management and development potential in various business segments [1][3]. Group 1: Financial Performance - In H1 2025, the company achieved operating revenue of 3.972 billion yuan, a year-on-year decrease of 1.30% [1]. - The net profit attributable to shareholders was 451 million yuan, reflecting a year-on-year increase of 50.74% [1]. - The net profit excluding non-recurring items was 435 million yuan, up 31.66% year-on-year [1]. - Sales expenses decreased by 10.64% due to reduced promotional costs, while management expenses fell by 2.64% [1]. - R&D expenses surged by 398.31% due to increased investment in research and development [1]. Group 2: Strategic Development - The "Digital South Transmission" strategy is being advanced, focusing on digital transformation and integrating digital teaching materials into the free textbook directory [2]. - As of June 30, 2025, the platform covered 19,151 schools in Guangdong, activating 15.897 million users [2]. - The company launched AI applications such as "AI Assistant" and "AI Learning" to enhance educational services [2]. - The media influence has grown, with over 6.6 million reads across five platforms and a 43% increase in articles with over 100,000 reads [2]. Group 3: Shareholder Returns - As of H1 2025, the company had approximately 2.73 billion yuan in cash [3]. - The cumulative cash dividend over the past three years reached 1.384 billion yuan, with a 2024 dividend amounting to 493 million yuan, representing 60.85% of net profit [3]. - The company plans to continue optimizing its dividend policy and enhancing shareholder value through share buybacks and cancellations [3].