Kunlun(300418)2024-08-29 13:37Financial Performance - In the first half of 2024, Kunlun Wanwei achieved total revenue of 2.5 billion yuan, a year-on-year increase of 3.2% [2] - The overall gross margin reached 78.2%, maintaining a high level [2] - Overseas business revenue amounted to 2.21 billion yuan, a year-on-year increase of 9.0%, accounting for 88.2% of total revenue [2] Investment in AI Development - R&D expenses for the first half of 2024 reached 760 million yuan, a year-on-year increase of 115.7% [2] - The company is committed to investing in the development and iteration of generative AI foundational models [2] AI Product Innovations - The company launched the "Tiangong 3.0" model with 400 billion parameters, showing significant performance improvements in semantic understanding and logical reasoning, with enhancements exceeding 20% in technical knowledge and over 30% in math, reasoning, and creative writing capabilities [3] - The daily active users (DAU) of the Tiangong AI Smart Assistant surpassed 1 million during the reporting period [3] - The AI social application Linky achieved a DAU of over 500,000, integrating storytelling, script creation, and chat interaction features [3][5] New AI Platforms and Applications - The company released the AI music model SkyMusic 2.0, capable of generating songs with over 500 words of lyrics and lasting up to 6 minutes, marking a significant advancement in the AIGC music model field [4] - The AI short drama platform SkyReels was launched, allowing users to create high-quality videos with integrated script generation and scene planning [4][6] Market Expansion and Future Outlook - The company aims to expand Linky into more global markets, targeting a DAU of 10 million in the long term [5] - The AI short drama product SkyReels is expected to penetrate the UGC market, with plans to increase the creator base over the next 1-2 years [6] - The company is focused on balancing AI investment and returns, emphasizing the importance of product innovation and user growth [6][8]