Core Viewpoint - *ST Fanli (600228) reported significant growth in revenue and business scale in the first half of 2025, driven primarily by overseas shopping services despite challenges in the third-party shopping industry [1] Group 1: Financial Performance - The company achieved operating revenue of 186 million yuan, representing a year-on-year increase of 36.01% [1] - Overseas shopping services contributed approximately 44 million yuan in revenue, with a monthly compound growth rate of 54% [1] - In May, the monthly transaction volume for overseas shopping exceeded 100 million yuan [1] Group 2: Business Expansion - The number of cooperative merchants surpassed 40,000, with a global presence across over 100 countries, indicating significant globalization efforts [1] - Overseas shopping is emerging as the company's second growth curve in revenue generation [1] Group 3: Technological Advancements - The company invested in AI-based tools for overseas e-commerce shopping, including AI-generated shopping content tools and marketing AI agents for e-commerce merchants and overseas media [1] - These technological upgrades aim to enhance operational efficiency and effectiveness across various aspects of the shopping business [1] - The company plans to offer mature technology tools and services to clients at an appropriate time in the future [1]