Core Viewpoint - The company has shown signs of recovery with a positive revenue growth in Q3 2025, indicating a transition from a phase of adjustment to a growth trajectory [2] Financial Performance - In Q3 2025, the company achieved a revenue of 216 million yuan, reflecting a year-on-year increase [1] - The total revenue for the first three quarters was 554 million yuan, showing a slight decline compared to the previous year, but the rate of decline has been narrowing for three consecutive quarters [1] - Contract liabilities increased by 49.41% year-on-year, amounting to an additional 73.54 million yuan, indicating stronger customer signing intentions and a more solid foundation for future revenue recognition [1] - Accounts receivable decreased by 24.81%, down by 119 million yuan, while cash received from sales and services grew by 13.06%, demonstrating improved cash flow health [1] Product Development - The company has significantly improved delivery efficiency and quality management for its new A9 product, with contract amounts for delivered projects increasing by 263% year-on-year [1] - The integration of artificial intelligence with collaborative scenarios has led to AI-related contract amounts exceeding 100 million yuan, with new customer signings accounting for 37.1%, becoming a key driver for market expansion [1]