A：At present, the company is firmly at the head of the AI real-time data market, with revenue reaching 0.97 billion yuan in the first half of the year, a sharp increase of 389 per cent over the same period last year; net profit was 72.51 million yuan, with an adjusted net profit of 67 million. The full release of the company's profitability, customer retention rate of more than 90%, and overseas revenue growth is significant, the overall operating indicators are good, verifying the company's deep value in the AI infrastructure track and long-term development potential.

A：The company has built a full-link product matrix from the computing power data token model to the application around the enterprise AI landing. AIDP at the bottom converts the internal and external raw data of the enterprise into high-quality data sets. The middle layer provides AI capability and professional model and scene token through token one. The upper token road connects the professional model scenario token with the enterprise requirements to realize model matching circulation and exchange. At the same time, the company is also expanding its cooperation with its head partners to form a complete closed loop from the bottom of the computing power to the upper AI application.

A：In the 1.0 phase of training and testing, the company successfully replicated to nine high-barrier industries, established the AI data infrastructure capability of more than 300 product modules, and verified the generality and portability of the industry. Entering the 2.0 phase of this year, the company standardized month-to-month move as a drive, open a new growth curve, through the token call volume charge to solve the problem of insufficient supply of high-quality data in the AI landing.

A：The changes on the demand side are reflected in four aspects: first, the AI demand of enterprises is released at an accelerated pace, shifting from calling common models to creating value by combining their own data and business processes; Second, AI capabilities are further moving towards business scenarios, and enterprises need a complete full-link infrastructure. Third, the value of scenario tokens is increased, and high-quality scenario tokens more directly serve enterprise decision-making. Fourth, enterprises' requirements for independent control and security compliance continue to increase.

A：In the first half of the year, the company's revenue structure underwent a qualitative change. The revenue share of diversified industries increased from 53% in the same period last year to 88%, and revenue increased by more than 700 year-on-year. This breakthrough is due to four core aspects: the basic market of the stable management industry, the continuous expansion of new industries, the construction of a sound industrial ecology, and the accelerated verification of the scene token factory in multiple industries.

A：The company's business model has been commercialized, with token business revenue accounting for 11% and revenue reaching 0.105 billion yuan. The AR growth of the new token business is strong, the call volume continues to increase, and the market's rigid demand and value recognition of the company's scenario token exceeds expectations. This core breakthrough mainly comes from four aspects.

A：The token billing model pioneered by the company directly drives business decisions through data token calls, and some businesses have successfully achieved a breakthrough shift from one-time projects to continuous revenue based on token calls. This model optimizes the allocation of resources and promotes the innovation and upgrading of business models through real-time and dynamic billing mechanisms. The QOS operating system integrates the data processing process into five core links, including the conversion from raw data to token, smart body calls, compliance metering, and full link audit. This operating system solves the problem of tuning the computing power governance model, especially in the context of computing power shortage, effectively reduces the deployment cost, builds the computing power infrastructure and full link facilities required for enterprise AI transformation, and continues to create real business value for customers.

A：In the first half of 2023, the company accelerated the landing of token OS and token business models in overseas markets. Revenue in overseas markets increased by 264 year-on-year, and completed the establishment of subsidiaries in Japan and Singapore, further improving the overseas layout. At the same time, the company has reached strategic cooperation with Shenzhen Data Exchange and Beijing International Big Data Exchange, strengthening the ecological foundation of data compliance circulation and token business.

A：In the latest period, the company's revenue surged 389 year-on-year, reaching the highest level in history. Gross profit margin stabilized at 60%, thanks to pricing power and platform model. Net profit has turned positive significantly, with the core driving force coming from the steady expansion of the proportion of high-profit businesses, the optimization of income structure and the improvement of expense rate. The value of customers has increased significantly, with unit price of customers increasing by 240 year on year and the number of customers. Per capita contribution up 379, organizational efficiency has been fully released, the financial structure is sound, and the asset-liability ratio remains at a very low level.

A：The two types of features we are currently seeing are more prominent. One is a macro-level customer who positions the AI as a key tool for future strategic transformation, and the other is a customer who has a clear understanding of the AI's landing in the business scenario. These two types of customers usually have a certain amount of business volume and professional accumulation, they through the AI capability support, the past professional accumulation into data assets, the formation of unique AI capabilities, and in the scale of deployment to reflect the business value. As a result, such customers will see AI as a core strategic investment for the company's future development, rather than a simple operating expense, and thus continue to invest intensively.

A：For some of the clients now working with, the AI budget comes mainly from the need for business enhancement and strategic transformation, which is fundamentally different from the traditional IT budget. Some companies include AI usage in their assessment indicators, and while there may be no cost, this reflects a perception of AI budgeting. At the same time, due to the current fierce competition in the market, many companies hope to maintain a leading position through AI technology, so the AI budget to a large extent reflects the company's management's expectations for future development and the determination of technology investment.

A：At this stage, the company will give priority to promoting token OS and tokenized business models to complete product verification, compliance adaptation and benchmarking scenarios in key overseas markets. On this basis, we will gradually expand the coverage of customers and application scenarios, and increase the contribution of overseas business revenue. At this stage, more attention is paid to whether overseas business can form replicable products and scenario models, rather than simply pursuing short-term revenue scale. With the expansion of overseas high-value industrial scenarios, overseas business is expected to gradually form new growth space and long-term growth curve. The core starting point of the company's deployment of computing power business is to meet the needs of customers for computing power, data security, independent control and integrated delivery capabilities in the process of AI construction pilot to large-scale deployment. It is mainly aimed at medium and large enterprise customers, who have high requirements for computing power stability, data security and integrated service capabilities. The company provides computing power deployment, computing power leasing and software and hardware integration services, and flexibly formulates contract terms and commercial terms according to customer needs. On the data side, the company has carried out strategic cooperation with national data exchanges to explore data compliance circulation and desensitization applications. Accelerate the implementation of AI capabilities in high-value scenarios by working with industry partners.

A：The company's current cash abundance, on the one hand, stems from the rapid growth of business scale brought about by the increase in revenue and project services, on the other hand, according to customer demand to carry out computing power leasing and deployment business, the first half of the centralized procurement of computing power resources and hardware equipment investment is to lay the foundation for long-term growth. As infrastructure construction is gradually completed and sustained revenue is generated, the economy's cash flow will also accelerate. In addition, the technology refinancing completed in July further consolidated cash reserves, which will help improve cash flow in the second half of the year and support new industry development and overseas business development. In terms of capital expenditures, the company follows strict evaluation criteria, balancing market demand, gross margin migration cycle, ROI and other factors to ensure optimal capital allocation efficiency. For the full-year performance guidance, it is expected that strong growth will continue. The growth momentum will come from four aspects: accelerated demand, accelerated diversification, accelerated goods business and accelerated international business. The specific figures will be subject to the final announcement.