Core Points - SS&C ALPS Advisors announced a rebranding and strategic changes to the ALPS | O'Shares Europe Quality Dividend ETF, effective October 1, 2025 [1] - The fund will be renamed to ALPS | O'Shares International Developed Quality Dividend ETF [1] - The new ticker symbol for the fund will be OEFA [1] - The underlying index for the fund will change to O'Shares International [1]

Core Viewpoint - The company reported a steady revenue growth in the first half of 2025, but a significant decline in net profit, primarily due to stock payment expenses, indicating a mixed performance in financial health [1][2][4]. Financial Performance - In H1 2025, the company achieved a revenue of 502 million yuan, a year-on-year increase of 13.01% [1]. - The net profit attributable to shareholders was 3 million yuan, down 91.90% year-on-year [1]. - The non-recurring net profit was -19 million yuan, indicating a narrowing loss compared to the previous year [1]. - In Q2 2025, the company generated a revenue of 267 million yuan, up 16.01% year-on-year, but the net profit turned negative at -7 million yuan [2]. Business Segments - EDA software sales contributed 414 million yuan in revenue, a year-on-year increase of 7.41% [2]. - The technical service business emerged as a significant growth driver, achieving 67 million yuan in revenue, a growth of 28.37% year-on-year [2]. - International revenue reached 55 million yuan, showing a substantial increase of 90.39% year-on-year, reflecting the company's competitive edge in overseas markets [2]. R&D Investment - The company maintained a high level of R&D investment, totaling 365 million yuan in H1 2025, with a research expense ratio of 72.84% [3]. - Seven new core EDA tools were launched, enhancing the product matrix and addressing key areas in digital and analog circuit design [3]. - The introduction of the Argus 3DIC platform filled a gap in high-end 3DIC design tools domestically, supporting the development of domestic chips [3]. Market Position and Strategy - The company is positioned to benefit from the trend of domestic substitution in the semiconductor industry, aiming for comprehensive tool coverage in design, wafer manufacturing, and other areas by 2025 [4]. - The focus on 3DIC and Chiplet technologies aligns with the evolution of post-Moore's Law, providing critical support for the independent development of domestic chips [4]. - The revenue forecast for 2025-2027 is adjusted to 1.599, 2.076, and 2.674 billion yuan, with corresponding growth rates of 30.8%, 29.8%, and 28.8% [4].