Core Viewpoint - The company reported steady growth in its 2025 semi-annual report, with significant achievements in AI commercialization, leading to a 125.91% year-on-year increase in AI business revenue [1][5]. Financial Performance - In the first half of 2025, the company achieved revenue of 1.045 billion, a year-on-year increase of 4.08%, and a net profit attributable to shareholders of 45 million, up 6.09% year-on-year. However, the net profit excluding non-recurring items decreased by 9.89% to 36 million [2]. AI Integration and Product Development - The company’s AI capabilities, integrated with the Dingjie Athena platform and major models like Microsoft Azure GPT, have led to the launch of the first AI-integrated PLM product, securing nearly 100 client contracts and several successful deployments [3][5]. - The AI-enabled product upgrades have resulted in a revenue increase of 11.05% in the R&D design sector, generating 57 million [3]. Operational Efficiency - AI tools have been utilized to enhance internal operations, leading to a 9.94% reduction in R&D investment to 162 million, while the total number of employees decreased by 6.26% to 4,794 [4]. - The company strategically focuses on high-value self-developed products in the AIoT sector, improving business gross margins [4]. International Business Expansion - The company’s overseas operations showed robust growth, particularly in Southeast Asia, where revenue increased by over 60% year-on-year, contributing to a solid foundation for global expansion [1][4]. - In the first half of 2025, non-mainland China business revenue reached 569 million, a year-on-year increase of 3.65% [4]. Future Projections - Revenue projections for 2025-2027 are estimated at 2.613 billion, 2.933 billion, and 3.297 billion, with year-on-year growth rates of 12.09%, 12.26%, and 12.43% respectively. Net profit attributable to shareholders is expected to be 203 million, 248 million, and 302 million, with growth rates of 30.49%, 22.16%, and 21.61% [1][5].

Group 1: Company Performance - In 2024, the company achieved operating revenue of 2.331 billion CNY and a net profit attributable to shareholders of 156 million CNY, marking a dual growth in both metrics [2] - Revenue from mainland China reached 1.177 billion CNY, while revenue from non-mainland China was 1.154 billion CNY, reflecting a year-on-year growth of 7.53% [2] - The net profit attributable to shareholders grew by 3.59% year-on-year, with a gross margin of 58.25% [3] Group 2: Cost Management - The company effectively controlled its sales expense ratio and management expense ratio, with management expenses decreasing by 1.21 percentage points and sales expenses decreasing by 1.34 percentage points in 2024 [5] Group 3: Strategic Initiatives - The company plans to continue advancing its "Smart+" strategy in 2025 to enhance performance and provide better returns to shareholders and society [3] - The company is focusing on integrating AI technologies into its operations, particularly through the MACP protocol to facilitate natural communication and collaboration among AI agents [4] Group 4: International Business Development - In Southeast Asia, the company has expanded its local teams in Thailand, Vietnam, and Malaysia, achieving over 90% localization in its talent pool [4] - The company collaborates with strategic partners like China Telecom and KPMG to enhance services for Chinese enterprises going abroad, covering industries such as automotive, electronics, and new energy [4] Group 5: Product Development - The company has made significant advancements in its AI applications and the Athena platform, launching a multimodal large model and an agent development platform [4] - The company maintains a leading market share in the PLM sector, driven by over 20 years of expertise in R&D design [6]