Core Insights - The company reported total revenue of approximately RMB 381.3 million, representing a year-on-year decrease of about 14.9% primarily due to a decline in revenue from AR and VR marketing services [1] - The gross profit reported was approximately RMB 80.7 million, a year-on-year decrease of about 35.6% [1] - The company incurred a loss of approximately RMB 123.5 million for the six months ending June 30, 2025, a decrease of about RMB 187 million compared to a profit of approximately RMB 63.5 million in the same period of 2024 [1] - The net profit margin fell from approximately 14.2% in the first half of 2024 to -32.4% in the first half of 2025, attributed to the decline in revenue, reduced gross margin, significant increase in impairment losses on trade receivables, and substantial rise in selling expenses [1]