Investment Rating - The report maintains a "Recommended" rating for the company, considering its business accumulation in the financial sector and forward-looking layout in artificial intelligence [4][6]. Core Viewpoints - The company has launched an employee stock ownership plan, focusing on AI and blockchain business, with a target of achieving a revenue growth rate of no less than 10% in 2025 and 20% in 2026 based on 2024 revenue [1]. - The company reported a revenue of 345 million yuan in H1 2025, a year-on-year increase of 14.26%, but a net profit decline of 71.51% due to increased investments in AI [2]. - The company is deepening its financial services, with a significant revenue drop in its core financial technology services but substantial growth in data center services and AI services [3]. Summary by Sections Employee Stock Ownership Plan - The company announced a stock incentive plan covering 12 executives, with a total of 1,476,155 restricted shares, representing approximately 0.434% of the total share capital [1]. Financial Performance - In H1 2025, the company achieved a revenue of 345 million yuan, with AI-related revenue growing over 100% [2]. - The breakdown of revenue shows a significant decline in financial technology services, while data center services and AI services saw substantial growth [3]. AI Business Development - The company officially launched an AI product matrix aimed at B-end customers, enhancing its business capabilities through AI-native architecture [4]. - The company has established partnerships with major players like Alibaba Cloud, Tencent Cloud, and Microsoft Cloud, and has obtained numerous software patents [3]. Financial Forecast - The forecast for net profit from 2025 to 2027 is 22 million, 50 million, and 87 million yuan, with respective growth rates of 139.1%, 132.1%, and 73.4% [4][5]. - The projected PE ratios for 2025 to 2027 are 450, 194, and 112, indicating a potential valuation reshaping due to AI business contributions [4][5].