ZHI-TECH(SZ:300785)2025-08-26 14:14Financial Performance - In the first half of 2025, the company achieved operating revenue of 582 million CNY, reflecting a decline due to strategic contraction of low-margin businesses and short-term impacts from business transformation [3] - Net profit attributable to shareholders reached 12.69 million CNY, a year-on-year increase of 65.75% [3] - Gross margin improved by 2.23 percentage points to 49.20% compared to the same period in 2024 [3] - Sales and management expenses decreased by 19.46% and 17.03% respectively, indicating effective cost control [3] - Net cash flow from operating activities improved significantly to 6.7 million CNY, compared to -48.44 million CNY in the previous year [3] AI Strategy and Development - The company invested 180 million CNY in R&D in 2024, accounting for 11.96% of operating revenue [4] - Significant upgrades were made to the "What Worth Buying" app, enhancing user decision-making through AI-driven features [4][6] - The AI shopping assistant was upgraded from "Xiao Zhi" to "Zhang Da Ma," focusing on user efficiency and personalized shopping experiences [12] - The monthly average consumption of tokens for third-party model APIs reached 73.634 billion in June 2025, an increase of 84.10% from December 2024 [5] - The "Hai Na" MCP Server recorded over 8 million calls in June 2025, with a month-on-month growth exceeding 80% [5] Market Trends and Future Outlook - The e-commerce sector exhibits seasonal characteristics, with the second half of the year typically showing stronger performance [5] - The company anticipates a narrowing of revenue decline in the second half, supported by the peak shopping season [8] - The introduction of national subsidy policies has positively impacted GMV, with a 13% year-on-year increase during the 618 shopping festival [9] - Emerging categories such as new energy vehicles and local services have shown significant growth, validating the company's product iteration strategy [10] User Engagement and Growth Strategies - The new app version has led to a 15% increase in average GMV per user and a 5% increase in content access duration [6] - The company plans to enhance user acquisition efforts in the second half, focusing on expanding new channels and improving user experience [8] - The transition to interest-based consumption has resulted in a nearly 20% increase in user engagement and a retention rate improvement of over 9 percentage points [7] International Expansion - The company has launched local versions of "What Worth Buying" in Thailand and Indonesia, with plans to expand to Vietnam, Malaysia, and Saudi Arabia [12] - The international strategy focuses on content and smart marketing, leveraging AI tools to assist Chinese brands in establishing recognition abroad [12] Conclusion and Future Vision - The CEO emphasized the importance of AI in driving future growth, with a commitment to increasing R&D investment related to AI [15] - The company aims to create unique AI-driven products that enhance consumer decision-making and improve overall user experience [16] - The long-term vision includes establishing a strong position in the AI-driven consumer content ecosystem, balancing both C-end and B-end applications [13]