全球化布局：以"中国智造"服务全球数字化进程 国务院《关于深入实施"人工智能+"行动的意见》明确提出推动人工智能技术与垂直行业深度融合，加 速产业智能化升级。在这一政策导向下，海能达作为中国专网通信领域的领军企业，率先提出的"AI专 网"理念与解决方案，成为践行国家战略的行业典范。通过将AI技术深度融入专网通信全链条，海能达 正推动行业从基础通信向智能决策跃迁，为全球公共安全、应急管理、能源交通等领域提供"中国智 造"的新范式。 以AI专网为核心，打造"智能+"基础设施新底座 海能达敏锐把握国家"人工智能+"行动的战略机遇，在业内首次系统提出"AI专网"发展框架，以技术智 能化、应用场景化、安全可信化、生态开放化为方向，实现从传统通信管道向智能基础设施的质变。 AI专网构建"感知-传输-决策-执行"全链条智能化体系，终端层嵌入AI算法实现实时数据采集与本地处 理；管道层通过动态资源分配优化网络覆盖；平台层整合指挥调度系统与AI大模型，实现全局资源管 理与秒级响应决策。海能达每年研发投入超营收15%，在全球拥有7个研发中心，坚持钻研攻克核心技 术，将轻量化AI模型部署终端设备，实现人脸车牌识别、环境感知、多语言 ...

Core Insights - The company reported a revenue of 2.26 billion yuan for the first half of 2025, a year-on-year decrease of 17.5%, and a net profit of 93.58 million yuan, down 42.4% [1] - The comprehensive gross margin improved to 51%, an increase of 5 percentage points year-on-year, with domestic sales gross margin rising by 11 percentage points [1] - Operating cash flow reached a five-year high of 240 million yuan, a year-on-year increase of 526% [1] Financial Performance - The decline in revenue and profit was primarily due to delays in the delivery of certain overseas projects and a decrease in EMS business revenue [1] - In the second quarter alone, net profit was 63 million yuan, representing a year-on-year increase of 26% and a quarter-on-quarter increase of 130%, indicating enhanced profitability [1] - Financial expenses decreased by 107 million yuan year-on-year, benefiting from optimized debt structure, reduced financing costs, and increased foreign exchange gains [1] Strategic Developments - Over the past five years, the company has made structural adjustments to underperforming businesses, increasing the main gross margin from 49.6% in 2021 to 56.2% in the first half of 2025 [2] - The operating expense ratio decreased from 46.8% in 2021 to 40.9% in 2024, with operating cash flow remaining positive for seven consecutive years [2] - The company introduced the "AI Private Network" concept in the first half of 2025, focusing on technological research and market expansion, with sales and R&D expenses increasing by 8% year-on-year [2] Market Performance - The company has made significant strides in the narrowband communication sector, enhancing its product offerings and expanding its market presence in various industries, including railways and energy [3] - In the domestic market, the company has supported innovative models in public safety and secured important orders in energy and judicial sectors [3] - The company achieved major project breakthroughs in overseas markets, deepening global cooperation and participating in international exhibitions [3] AI Private Network Initiative - The company has positioned itself as a leader in the "AI Private Network" concept, integrating AI into specialized communication networks to enhance operational efficiency and decision-making capabilities [4] - The initiative aims to transform traditional private networks into intelligent infrastructures capable of dynamic optimization and collaborative capabilities [4] - Future plans include further integration of AI technology into a broader range of industry-specific private network ecosystems [4]