报告期内，大华股份加快技术创新与产业落地深度耦合，布局多维感知、人工智能、智能计算、数据通 信、图数融合等领域，推进大模型在各行业复制落地，持续推出问数、天系大模型一体机、文搜 NVR、荧光 2.0 等新产品，打造具备极致竞争力的软硬件产品。 在行业侧，持续行业聚焦，对特定行业进行全面复制，回归大视频战略，打造高价值和性价比的产品和 方案；在新业务产品上，做好资源适配，稳步提升优势产品的业务体量。在创新业务方面，聚焦主航 道，进一步强化创新业务与集团主营业务的融合互补，持续技术创新，推动各业务板块更健康成长。 大华股份表示，公司始终致力于推动数据要素的价值化进程，以数据资源化供给者、资产化践行者、商 品化赋能者为定位，以技术+生态双轮驱动，形成覆盖数据全生命周期的解决方案，并携手生态伙伴， 助力构建繁荣的数据要素市场。从多维感知、多元连接、视图智能、开放平台等维度出发，实现星汉大 模型和多维数据的深度融合，实现从感知智能到数据智能、再到业务智能的闭环，全面助力城市高效治 理与企业数智化升级。 8月15日，大华股份公布2025年半年报，公司营业收入为151.8亿元，同比上升2.1%；归母净利润为24.8 亿元， ...

Core Viewpoint - The announcement of the semi-annual profit forecast for 2025 by Baiwang Co., Ltd. has attracted significant market attention, marking a solid step in its transformation from a traditional SaaS tax service provider to an AI data intelligence company [1][3]. Financial Performance - Baiwang's total revenue for the first half of 2025 is projected to be between 330 million to 380 million, representing a substantial increase of 17.2% to 34.9% compared to 281.6 million in the first half of 2024 [8]. - AI business revenue is expected to be around 58 million to 63 million, indicating a strong start for the company's AI initiatives [8]. - Gross margin is anticipated to improve from 39.2% in the first half of 2024 to between 45% and 50% in the first half of 2025 [8]. - The net profit is projected to be between 3 million to 5 million, a significant turnaround from a loss of 445.8 million in the same period last year [8][18]. Strategic Transformation - Baiwang is recognized for its early adoption of AI technology and its decisive transformation efforts, characterized by agility and determination [4][11]. - The company has focused on the "Digital Electric Enterprise" initiative, leveraging its partnership with the State Administration of Taxation as a key advantage in the ongoing tax reform [5][6]. - Baiwang has rapidly iterated its product offerings, establishing a clear product matrix with three main AI products: Jindun, Wenshu, and Ruijie [11][18]. Market Position and Future Outlook - The SaaS sector is becoming increasingly competitive, with traditional players and new entrants flooding the market [10]. - Baiwang's strategic partnerships with major tech companies like Huawei and Alibaba Cloud are expected to enhance its market presence and customer base, particularly among state-owned enterprises and SMEs [19][20]. - The company is likely to continue its growth trajectory in the second half of 2025, supported by its strong performance and proactive market initiatives [19][22].