Core Insights - The company achieved operating revenue of 32.36 billion yuan in the first half of 2025, representing a year-on-year growth of 4.87%, while net profit attributable to shareholders decreased by 47.33% to 0.096 billion yuan, with no dividends or bonus shares declared [1] - AI technology is deeply empowering various business developments, and the application scenarios for the metaverse are continuously expanding [1] - The company's R&D investment reached 0.035 billion yuan in the first half of 2025, marking a year-on-year increase of 29.55% [2] Revenue and Profitability - The company's internet marketing revenue increased by 4.87% year-on-year [1] - The overseas business accounted for over 80% of total revenue, amounting to 27.005 billion yuan, with both year-on-year and quarter-on-quarter growth [2] - The expected net profit attributable to shareholders for 2025-2027 is projected to be 0.443 billion, 0.466 billion, and 0.5 billion yuan respectively [2] Business Development and Partnerships - The self-developed intelligent marketing platform, Luban, achieved double-digit growth in both year-on-year and quarter-on-quarter revenue, winning multiple awards [1] - The company is enhancing the BlueAI creative platform and collaborating with leading video generation models and Adobe for video production [1] - The company has launched VR exhibitions in various scenic spots and is in discussions for numerous projects, including national museums [1] Strategic Growth and Market Position - Major strategic partnerships with platforms like Meta, Google, and TikTok For Business have shown robust growth in advertising revenue [2] - The global AI-driven advertising platform Moloco continued its rapid growth, becoming a new media growth point [2] - The company is building a differentiated competitive barrier through a dual-driven approach of AI technology and global platform construction [2]