在全球化布局方面，公司先后在中国香港、东京、吉隆坡等地设立办公室，组建"一站式"出海服务团 队。今年5月，灵感岛海外首个AI创新孵化中心在东京成立，标志着天下秀技术出海进入实质化阶段。 上半年，天下秀主营业务WEIQ红人营销平台持续成长，稳步推进"超级连接器"战略。截至上半年末， 平台累计注册商家客户数达21.9万个，较2024年末增长11118个；平台注册红人账户数累计达354.5万 个，其中职业化红人账户数达215.6万个；入驻WEIQ平台的MCN机构数量达19902家，较2024年末增长 741家。 公司聚焦"AI+出海"战略，以技术驱动商业模式创新。AIGC内容创作与智能营销平台"灵感岛"完成从单 一工具到智能营销生态的进化，推出六大Agent智能体，覆盖从创意内容生产到数据智能分析的全链 路。 转自：中国证券报·中证网 中证报中证网讯（记者 杨梓岩）8月21日晚，天下秀发布的2025年半年报显示，公司上半年实现营收 18.44亿元，净利润0.36亿元。上半年，公司毛利率同比提升1.56个百分点，达19.14%。 ...

Financial Performance - In the first half of 2025, the company achieved total operating revenue of 1.844 billion yuan and a net profit attributable to shareholders of 36 million yuan [1] - The company's gross margin increased by 1.56 percentage points year-on-year, reaching 19.14% [1] - In Q2 2025, the company reported operating revenue of 947 million yuan, a quarter-on-quarter increase of 5.6%, and a net profit of 23 million yuan, a quarter-on-quarter increase of 73% [1] Business Growth and Strategy - The company, as the first red economy platform enterprise in A-shares, continues to see growth in its core business, the WEIQ influencer marketing platform, validating its "super connector" strategy [1] - By the end of the first half of 2025, the cumulative number of registered merchant clients reached 219,000, an increase of 11,118 from the end of 2024 [1] - The number of registered influencer accounts reached 3.545 million, with 2.156 million being professional influencer accounts [1] - The number of MCN institutions on the WEIQ platform reached 19,902, an increase of 741 from the end of 2024 [1] Technological Innovation and Global Expansion - The company focuses on the "AI + Going Global" strategy, driving innovation in technology-driven business models [2] - The AIGC content creation and intelligent marketing platform "Inspiration Island" has evolved into a smart marketing ecosystem, launching six major Agent intelligences covering the entire link from creative content production to data intelligence analysis [2] - The company has established offices in Hong Kong, Tokyo, Singapore, and Kuala Lumpur, forming a one-stop overseas service team [2] - In May, the first overseas AI innovation incubation center of Inspiration Island was established in Tokyo, marking a substantial step in the company's technology going global [2] - The "technology + ecosystem" dual-driven strategy has shown significant results, creating greater value for global clients and creators [2]

Group 1 - The company reported a revenue of 897 million yuan and a net profit attributable to shareholders of 13.33 million yuan for Q1 2025, with a year-on-year net profit growth of 44.99% after excluding non-recurring gains and losses [1] - The company focuses on the influencer economy, providing services to content creators, MCNs, and brands, aiming to enhance business efficiency through technology-driven solutions [1] - R&D expenses reached 21.99 million yuan, with a focus on AI and blockchain technologies, enhancing content production efficiency for e-commerce [2] Group 2 - The "CONNECT 2025" partner conference was held, discussing new technologies and ecosystems in influencer marketing, and launching a strategic partnership plan for 2025 [3] - The company’s AIGC platform "Linggan Island" significantly improved its product iteration, reducing the time to extract successful product patterns from historical data to 28 seconds and lowering generation costs to one-third of the industry average [2] - The company is leveraging blockchain technology to support cultural brands and has implemented digital tourism projects in various cities during the 2025 Spring Festival [2]

Core Insights - The company, Tianxiaxiu, reported a stable performance in its 2024 annual financial results, achieving a revenue of 4.066 billion yuan and a net profit of 51 million yuan despite macroeconomic pressures [1] - The influencer marketing sector is experiencing growth, with professional influencers increasing by 44.7% to over 2.12 million, indicating a strategic resilience during industry adjustments [1] Group 1: Technology-Driven Upgrades - The WEIQ platform reached new heights in 2024, with registered merchant clients totaling 208,212, an increase of 8,423 from the previous year [2] - The number of registered influencer accounts surpassed 3.464 million, with professional influencers growing by 65,700 to 2.127 million, marking a 44.7% increase [2] - The shift towards "precision" in brand budgets is validating the company's strategic insights, as income from mid-tail influencers accounted for 87% of the platform's revenue [2] Group 2: AI Technology Integration - AI technology is reshaping the marketing landscape, with mainstream applications automating repetitive tasks, allowing marketers to focus on strategy and creativity [7] - The company's "Linggan Island" initiative leverages AIGC technology to enhance the entire marketing chain, from creative inspiration to performance tracking, significantly improving marketing efficiency [9] - Linggan Island has developed a SaaS-level solution for enterprises, enabling bulk content generation and management across various marketing scenarios, thus enhancing marketing efficiency [10] Group 3: Cross-Border Marketing Expansion - The cross-border influencer marketing market is experiencing explosive growth, with the company accelerating its global strategy [11] - In 2024, the company launched the "Xingyi" incubator brand in Tokyo, focusing on nurturing Chinese content creators in Japan and facilitating localized marketing for Chinese brands [11] - The cross-border influencer marketing market is projected to exceed 100 billion yuan by 2025, with a compound annual growth rate of 35% [11] Group 4: Industry Evolution - The marketing industry is entering a new development cycle, shifting from scale expansion to a focus on efficiency and value [12] - The company's AI-driven full-chain approach and cross-border marketing model are expected to be key drivers for the transformation and upgrading of the influencer marketing industry [12] - The future trajectory of the company may redefine the value creation logic in the digital marketing era [12]

Core Insights - The influencer economy is experiencing a significant slowdown in growth due to macroeconomic pressures and the peak of traffic dividends, with the industry market size reaching 6.4 trillion yuan in 2023, a year-on-year growth of 18.3%, down from 48% in 2021 [1][2] - Tianxiexiu, a leading company in the influencer economy, reported a revenue of 4.066 billion yuan and a net profit of 51 million yuan for 2024, demonstrating strong operational resilience in a complex market environment [1][2] Industry Overview - The influencer economy is transitioning from rapid growth to refined operations, with the market size expected to exceed 8 trillion yuan by 2025, indicating continuous growth despite a slowdown in growth rates [2][3] - The number of registered merchants on Tianxiexiu's WEIQ platform reached 208,200, and the number of influencers increased to 3.464 million, with professional influencers growing by 44.7% year-on-year [2][3] Business Strategy - Tianxiexiu is enhancing its core business through the WEIQ influencer marketing platform, which has achieved key breakthroughs in connecting supply and demand, reflecting the increasing aggregation effect of leading companies in the influencer economy [2][3] - The company is leveraging AI technology to improve data and content services, creating a virtuous cycle that supports efficient service for small and medium-sized businesses [4][5] Technological Innovation - Tianxiexiu has introduced API technology to integrate its self-developed influencer placement platform with ByteDance's platforms, exploring new paths for technological collaboration [3] - The company's AIGC product "Linggan Island" has established three differentiated advantages, including a vast marketing database, a functional matrix for content creators and businesses, and compliance certifications [4][5] Global Expansion - The global influencer marketing market is projected to grow rapidly, reaching $32.55 billion by 2025, with Tianxiexiu's overseas marketing strategy focusing on both "technology output" and "resource integration" [5] - The company has launched Japanese and English versions of Linggan Island to support cross-border marketing, while its Japanese subsidiary has obtained cross-border agency qualifications [5]