Core Viewpoint - The company held a semi-annual performance briefing for 2025, addressing investor concerns regarding revenue growth in the vocational education sector, which was overshadowed by higher operating costs leading to a decline in gross margin [1][2]. Group 1: Performance Analysis - The company reported a year-on-year decline in performance for the first half of the year, attributed to three main factors: extended delivery cycles due to project acceptance processes, pressure on product pricing from client budget constraints, and increased depreciation expenses from capitalized investment projects [2]. - The gross margin experienced a slight decline year-on-year, influenced by intensified industry competition and changes in client funding and project proposals [2]. Group 2: Industry Response and Business Planning - In response to the AI wave, the company is adapting to changes in demand for vocational education and industry training by developing a "virtual simulation training engine + vocational education vertical model + data platform" system, which includes capabilities for lesson plan generation and training guidance [3]. - The company aims to enhance brand influence and meet customer needs through deep participation in industry-education integration and vocational skill competitions [3]. Group 3: Robotics Exploration and Investment Project Progress - The company is exploring the application of humanoid robots in business scenarios, with external procurement of robots for training demonstrations at national skill competitions [4]. - Investment projects are gradually generating benefits, improving product technology levels, although current revenue from these projects is low due to depreciation and amortization after capitalization [4].