Q2 2025 Cheetah Mobile Inc Earnings Call

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The relations have Cheetah mobile. Please go ahead.

Thank you operator, welcome to Cheetah Mobiles second quarter 'twenty to 'twenty five earnings conference call with US today are our chairman and CEO, Mr. Fu Sheng, and our director and CFO, Mr. Thomas Yeah fully management's prepared remark.

We'll come back to an 80 section. Please note that the management's Craig will be presented by an AI agent before we begin I refer you to the Safe Harbor statement. Your earnings release, which also applies to our conference call today I will make forward looking.

At this time I would now like to turn the conference call over to our chairman and CEO. Mr. Fu Sheng. Please go ahead.

Helen Zhu: Good day, and welcome to the Cheetah Mobile second quarter 2025 earnings conference call. All participants will be in listen-only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star, then one on a touchtone phone. To withdraw your question, please press star, then two. Please note this event is being recorded. I would now like to turn the conference over to Ms. Helen Zhu, Investor Relations of Cheetah Mobile. Please go ahead.

Good day and welcome to the Cheetah Mobile Q2 2025 earnings conference call.

Thank you everyone for joining us today in the second quarter, we delivered our best results since Q1, 2020, one revenue grew 58% year over year, driven by a 39% year over year increase in Internet business, and then the 86% year over year increase in.

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The other segment.

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Turning loss decreased eight 6% year over year, while non-GAAP operating loss was down 97% from last year almost breakeven.

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Please note this event is being recorded.

First half of 2025, our revenue grew by 47% year over year.

I would now like to turn the conference over to Ms. Helen Zhu, Investor Relations of Cheetah Mobile. Please go ahead.

AI Agent: Thank you, all. Welcome to Cheetah Mobile's second quarter 2025 earnings conference call. With us today are our Chairman and CEO, Mr. Sheng Fu, and our Director and CFO, Mr. Thomas Ren. Following management's prepared remarks, we will conduct the Q&A section. Please note that the management's scripts will be presented by an AI agent. Before we begin, I refer you to the safe harbor statement in our earnings release, which also applies to our conference call today, as we will make forward-looking statements. At this time, I would now like to turn the conference call over to our Chairman and CEO, Mr. Sheng Fu. Please go ahead, Sheng Fu.

We believe we can maintain a fast growth in the second half of 2025, driven by about 100% year over year revenue growth, you know AI and other segments, along with a stable internet business.

Thank you all Peter.

This shows our turnaround is working and gaining momentum.

What is even more important is how we work today.

We have made a I a core part of our process working in an AI and a cheap way.

And the teams are small and flexible using AI everyday to design test and build products much like open source developers.

Helps us move faster and use fewer resources.

And shows AI allows for one person to do it once took a whole team we have been investing in AI says 2016 and at the intersection of AI and robotics. Today, you now have advantages and experience that are hard to replicate.

Welcome to Cheetah Mobile's second quarter 2025 earnings conference call. Joining us today are our Chairman and CEO, Mr. Fun, and the Director and CFO, Mr. Thomas Jen. We will begin with prepared remarks, followed by a Q&A section. Please note that the management update will be presented by an AI agent. Before we begin, I would like to refer you to the safe harbor statements in our earnings release, which also apply to our call today, as we will be making forward-looking statements. I would now like to turn the conference call over to our Chairman and CEO, Mr. Pushon. Please go ahead.

Sheng Fu: Thank you, everyone, for joining us today. In the second quarter, we delivered our best results since Q1 2021. Revenue grew 58% year over year, driven by a 39% year-over-year increase in the internet business and an 86% year-over-year increase in AI and other segments. Our operating loss decreased 86% year over year, while loan debt operating loss was down 97% from last year, almost break even. In the first half of 2025, our revenue grew by 47% year over year. We believe we can maintain fast growth in the second half of 2025, driven by about 100% year-over-year revenue growth in our AI and other segments, along with a stable internet business. This shows our turnaround is working and gaining momentum. What is even more important is how we work today. We have made AI a core part of our process, working in an AI-native way.

Example, deep for our AI tool that challenges video audio and documents into summaries and my maps funds with only three full time employees.

Our Internet business remained solid thanks to our ship from advertising to a subscription model, which has improved user engagement and retention.

Thank you, everyone, for joining us today. In the second quarter, we delivered our best results since Q1 2021. Revenue grew 58% year-over-year, driven by a 39% year-over-year increase in our internet business and an 86% year-over-year increase in AI and other segments.

<unk> subscriptions make up about 60% of our Internet revenues.

This healthy base gives us the room to invest in new products, all staying financially disciplined.

We are enhancing existing apps like Dubai, and she virus wallpaper apps and PDF tools with AI agents.

For example in Dubai until the virus, we are testing a new AI feature that helps users fixed PC issues, especially long tail problems. They couldn't solve before and early feedback is encouraging.

Operating loss decreased 86% year-over-year, while long gap up. Hurting loss was down 97% from last year, almost break even in the first half of 2025. Our revenue grew by 47% year-over-year. We believe we can maintain fast growth in the second half of 2025 given approximately 100% year-over-year revenue growth in our AI and other segments, along with a stable internet business. This shows our turnaround is working and gaining momentum.

Sheng Fu: Our R&D teams are small and flexible, using AI every day to design, test, and build products, much like open-source developers. This helps us move faster and use fewer resources. In short, AI allows one person to do what once took a whole team. We have been investing in AI since 2016, and at the intersection of AI and robotics today, we now have advantages and experience that are hard to replicate. For example, DeepFlow, our AI tool that turns video, audio, and documents into summaries and mind maps, runs with only three full-time employees. Our core internet business remains solid thanks to our shift from advertising to a subscription-driven model, which has improved user engagement and retention. Today, subscriptions make up about 60% of our internet revenues. This healthy base gives us the room to invest in new AI products, while staying financially disciplined.

We are still in the launch and improvement base almost a utilities.

What is even more important is how we work. Today, we have made AI a core part of our process, working in an AI native way.

We believe chase that has a natural advantage in utility applications.

The end of the day.

Our core value of our utilities is to help people work more efficiently and productively.

For R&D teams that are small and flexible, using AI every day to design tests and build products—much like open source developers—this helps us move faster and use fewer resources.

We can deliver on that we believe users will be willing to use our products.

On the service robotics side, we made solid progress.

Revenues from service robots continue to contribute to growth in the AI and other segment.

He shows AI allows one person to do what took a whole team. We have been investing in AI since 2016, and at the intersection of AI and robotics today, we now have advantages and experience that are hard to replicate.

In late July we completed the acquisition of New factory one of the few robotic arm companies that is already profitable and earns most of its revenue overseas.

For example, people in our AI tool that turns video audio and documents into summaries and mind maps run with only 3 full-time employees.

Combining these new factories strengths with changes distribution network at 100 Park Global partners give us a clear advantage to scale globally.

Our core internet business remains solid thanks to our shift from advertising to a subscription model, which has improved user engagement and retention.

Factory.

Really being used at scale and real world scenarios from.

Today, subscriptions make up about 60% of our internet revenues.

From assembly teaching coaching and dispensing tasks and factories to grabbing beverages, making coffee and views and commercial applications strawberry harvesting in agricultural settings, and even in universities for robotic research.

This healthy base gives us the room to invest in new AI products.

Sheng Fu: We are enhancing existing apps like Dubai Antivirus, wallpaper apps, and PDF tools with AI agents. For example, in Dubai Antivirus, we are testing a new AI feature that helps users fix PC issues, especially long-tail problems they couldn't solve before, and early feedback is encouraging. While we are still in the launch and improvement phase for most AI utilities, we believe Cheetah Mobile has a natural advantage in utility application. At the end of the day, the core value of AI utilities is to help people work more efficiently and productively. If we can deliver on that, we believe users will be willing to use our products. On the service robotics side, we made solid progress. Revenues from service robots continue to contribute to growth in the AI and other segments.

We now have a broader range of robots and are piloting wheeled robots with arms. They can handle more physical tasks in more places.

We believe the true breakthrough and robotics is not just in using the most advanced lab technology.

All staying financially disciplined. We are enhancing existing apps like Dooba and T Virus wallpaper apps and PDF tools with AI agents. For example, in Dubai Antivirus, we are testing a new AI feature that helps users fix PC issues, especially long-tail problems they couldn't solve before, and early feedback is encouraging.

While we are still in the launch and improvement phase for most utilities,

About finding technologies that match real world use cases, which can scale and generate earnings for the company.

We've chased that has a natural advantage to the application.

At the end of the day.

The future of robotics is exciting.

Value of.

Our years of experience tell us that real commercial adoption depends on delivering sustainable ROI.

A utility is to help people work more efficiently and productively.

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If we can deliver on that, we believe users will be willing to use our products.

Our strategy is to stay optimistic get patients moving forward steadily.

On the service robotic side, we made solid progress.

We will continue to identify scalable use cases and grow the business gradually.

Sheng Fu: In late July, we completed the acquisition of UFactory, one of the few robotic arm companies that is already profitable and earns most of its revenue overseas. Combining UFactory's strengths with Cheetah Mobile's distribution network and 100-plus global partners gives us a clear advantage to scale globally. UFactory arms are already being used at scale in real-world scenarios, from assembly, picking, printing, and dispensing tasks in factories to grabbing beverages, making coffee and beers in commercial applications, strawberry harvesting in agricultural settings, and even in universities for robotic research. We now have a broader range of robots and are piloting wheeled robots with arms that can handle more physical tasks in more places. We believe the true breakthrough in robotics is not just in using the most advanced lab technology, but about finding technologies that match real-world use cases which can scale and generate earnings for the company.

Revenues from service robots can continue to contribute to growth in the AI and other segments.

That said, we want to caution investors that it is not something that will reach mass deployment in the coming quarters.

The service robotics market is still developing but a agents are making robots smarter and easier to use.

In late July, we completed the acquisition of a new factory, one of the few robotic arm companies that is already profitable and earning small revenue overseas.

Things, adding agents.

Our next generation of voice system powered by AI agents.

Scale globally.

Earlier this year, our voice enabled a robot revenue in China grew by about 100% in Q2.

Driven by recurring demand from our existing channel partners alongside expansion into new high quality customers in healthcare education elder care and cultural institutions, such as the National Center for the performing Arts.

Manufacturing arms are already being used at scale in real-world scenarios, from assembly, picking, painting, and dispensing tasks in factories to...

In addition, this growth does not rely on one off large orders, but comes from steady and repeats demand, especially in use cases like for guiding on reception, which shows that are sustainable to.

Grab making coffee and beers in commercial applications, strawberry harvesting in agricultural settings, and even in universities for robotic research. We now have a broad range of robots, and we are piloting wheel robots with arms that can handle more physical tasks in multiple places.

Few companies have in both our global experiencing consumer internet products and use of real World Robotics operations.

Sheng Fu: While the future of robotics is exciting, our years of experience tell us that real commercial adoption depends on delivering sustainable ROI that customers can clearly see. Our strategy is to stay optimistic, yet patient, moving forward steadily. We will continue to identify scalable use cases and grow the business gradually. That said, we want to caution investors that it is not something that will reach mass deployment in the coming quarters. The service robots market is still developing, but AI agents are making robots smarter and easier to use, since adding AgentOS, our next generation voice system powered by AI agents. Earlier this year, our voice-enabled robot revenue in China grew by about 100% in Q2, both driven by recurring demand from our existing channel partners, alongside expansion into new high-quality customers in healthcare, education, elder care, and cultural institutions such as the National Center for the Performing Arts.

The unique combination allows us to apply AI agent technology across both software and hardware, creating synergies that are hard to replicate supporting our goal to become a leading servicer of our company in the coming years.

We believe the true breakthrough in robotics is not just in using the most advanced lab technology but about finding technologies that match real-world use cases, which can scale and generate earnings for the company. While the future of robotics is exciting, our years of experience tell us that commercial adoption depends on delivering sustainable ROI.

The customers can clearly see.

Looking ahead, our core Internet business remains healthy and profitable.

Our strategy is to stay optimistic yet patient, moving forward steadily.

Investing in AI tools, and robotics with discipline and we are on track to reach profitability in the near term.

We will continue to identify scalable use cases and grow the business gradually.

Our strong cash position in June that give us the flexibility to grow while keeping our finances strong.

That said, we want to caution investors that it is not something that will reach mass deployment in the coming quarters.

That transformation is just getting started but it is already producing results.

The service robotics market is still developing, but agents are making robots smarter and easier to use.

Two growth engines.

Since adding agent OS.

A a power utility apps and AI robots that work together as synergistic forces combining software and hardware to create a stronger moat expand our market reach and to open new growth opportunities at.

Our next-generation voice system, powered by AI agents.

Earlier this year, a voice-enabled robot, Revenue, in China, grew by about 100% in Q2, both driven by recurring demands from our existing channel partners.

At the same time, our solid intranet business and strong cash reserves provide a stable base.

With over seven years of RMB in AI focused strategy and a culture of innovation. We are confident about the road ahead.

Sheng Fu: In addition, this growth does not rely on one-off large orders, but comes from steady and repeat demand, especially in use cases like tour guiding and reception, which shows it is sustainable. Few companies have both our global experience in consumer internet products and use of real-world robotics operations. This unique combination allows us to apply AI agent technology across both software and hardware, creating synergies that are hard to replicate, supporting our goal to become a leading service robot company in the coming years. Looking ahead, our core internet business remains healthy and profitable. We will keep investing in AI tools and robotics with discipline, and we are on track to reach profitability in the near term. Our strong cash position and zero debt give us the flexibility to grow while keeping our finances strong. The transformation is just getting started, but it is already producing results.

Convention into new high-quality customers in healthcare, education, elder care, and cultural institutions such as the National Center for the Performing Arts.

Thank you Felicia.

Everyone. Thank you for joining the call.

Otherwise stated all financial figures are presented in RMB.

In addition, this group does not rely on one-off large orders that come from steady and repeat demand, especially in use cases like poor guiding and reception, which shows it as sustainable. Few companies have both our global experience in.

Consumer internet products.

This quarter of a point to point defined.

And use of real-world robotics operations.

We continue to make meaningful progress narrowing our losses and improving productivity.

As we remain focused on execution efficiency and financial discipline.

This unique combination allows us to apply AI agent technology across both software and hardware, creating synergies that are hard to replicate, supporting our goal to become a leading service robot company in the coming years.

On a normal kind of phases, we almost reached the breakeven point on the operating level in Q2.

We walked you through the key financial results and a coffee.

Revenue reached RMB 295 community.

Looking ahead, our core internet business remains healthy and profitable. We will keep investing in AI tools and robotics, and we are on track to reach profitability in the near term.

58% year over year, and 14% quarter over quarter, marking a strong acceleration gross profit increased by 85% year over year, and 19% quarter over quarter to RMB 220 million gross margins improved to 76%.

Our strong cash position and geo depth give us the flexibility to grow while keeping our finances strong.

Sheng Fu: We are building two growth engines: AI-powered utility apps and AI robots that work together as synergistic forces, combining software and hardware to create a stronger moat, expand our market reach, and open new growth opportunities. At the same time, our solid internet business and strong cash reserves provide a stable base. With over seven years of R&D in AI, our focused strategy, and a culture of innovation, we are confident about the road ahead.

A transformation is just getting started, but it is already producing results.

We are building two growth engines.

AI powered utility apps.

And AI a robot.

From 65% in the year ago quarter, and 73% in the previous quarter operating loss narrowed to RMB 11 immediately.

That work together as synergistic forces, combining software and hardware to create a stronger mode, expand our market reach, and open new growth opportunities.

86% year over year decrease of 58% quarter over quarter decrease.

At the same time, our solid internet business and strong cash reserves provide a stable base.

On a non-GAAP basis, our operating loss declined $2 million down 97% year over year at 86% quarter over quarter.

With over 7 years of R&D in AI, our focus strategy and a culture of innovation, we are confident about the road ahead.

Thomas Ren: Thank you, Fusia. Hello, everyone, and thank you for joining the call. Unless otherwise stated, all financial figures are presented in RMB. In the second quarter of 2025, we continue to make meaningful progress in narrowing our losses and improving profitability as we remain focused on execution efficiency and financial discipline. In fact, on an on-the-ground basis, we almost reached the break-even point on the operating level in Q2. Let me walk you through the key financial results in the quarter. Total revenue reached RMB 295 million, up 58% year over year and 14% quarter over quarter, marking a strong acceleration. Gross profit increased by 85% year over year and 19% quarter over quarter to RMB 212 million. Gross margin improved to 76%, up from 65% in the year-ago quarter and 73% in the previous quarter.

Net loss attributable to Cheetah mobile shareholders decreased by 82% year over year, and 32% quarter over quarter to RMB 23 million, our non-GAAP net loss attributable to chew on mobile shareholders now by 87% year over year at 30%.

Thank you for shopping. Hello everyone, and thank you for joining the call. Only, let's otherwise state all financial figures are presented in RMB for the second quarter of 2025.

We continue to make meaningful progress in narrowing our losses and improving profitability.

5% quarter over quarter for RMB 14 billion.

As we remained focused on execution efficiency and financial discipline,

These probability improvements reflect our ongoing efforts to sharpen the focus <unk>.

The efficiency and optimize our cost structure, particularly as we as Judy Chu from early stage experimentation for par whole pie focused execution in our AI initiatives.

And our pay our robotics business.

We have exciting certain compute expensive direction, such as creating our own foundation models, a strategic shift that significantly reduced infrastructure spend at the same time, we have streamlined our R&D process by leveraging AI tools and refocus resources.

Thomas Ren: Operating loss narrowed to RMB 11 million, an 86% year over year decrease and a 58% quarter over quarter decrease. On an annual basis, our operating loss declined to RMB 2 million, down 97% year over year and 86% quarter over quarter. Net loss attributable to Cheetah Mobile shareholders decreased by 82% year over year and 32% quarter over quarter to RMB 23 million. Our non-GAAP net loss attributable to Cheetah Mobile shareholders narrowed by 87% year over year and 35% quarter over quarter to RMB 14 million. These profitability improvements reflect our ongoing efforts to sharpen focus, improve efficiency, and optimize our cost structure, particularly as we have shifted from early-stage experimentation to ROI-driven execution in our AI initiatives. In our AI robotics business, we have exited certain compute-intensive directions, such as planning our own foundation models, a strategic shift that significantly reduced infrastructure spend.

AI utility applications that generate user value for example, R&D expenses accounted for 54% of our AI and others segment revenue in the quarter.

In fact, on a non-gaap basis, we almost reached the break even point on the operating level in Q2, let me walk you through the key financial results in the quarter pole. Revenue reached R&B 295 million up, 58% year-over-year and 14% author of a quarter. Marking a strong acceleration. Gross profit increased by 85% year-over-year, and 19% quarter over quarter to R&B 202 million, gross margin improved to 76% up from 65% in a year ago, quarter and 73%, in the previous quarter operating loss, narrowed to R&B 11 million and 86% year-over-year. Decrease at 58% quarter over quarter, decrease

Going from 39% in the year ago quarter, and <unk>, 8% in the previous quarter.

These efforts have materially improved the operating profit of our AI and other segment, where adjusted operating losses decreased 63% year over year and 32% quarter over prior.

Find 2 medium down, 97% year-over-year, and 86% auto over quarter.

Looking ahead, we remain confident in our ability to achieve profitability with a clear and disciplined strategy.

Two key drivers for this pad first our Ethernet business continues to deliver steady profits and.

Not lost attributable, shareholders, decreased by 82% year-over-year, and 32% quarter over quarter to R&D 23 meter, a long after net loss, A curable to Cha mobile shareholders mauled by 87% year-over-year and 35% quarter over quarter to R&B 14 million.

There is a solid financial foundation in Q2, adjusted operating margin for this segment was 14% up from 12% in the year ago quarter.

Our transition from an App centric model for user subscription model is showing good momentum.

This probability improvement reflects our ongoing efforts to sharpen focus, improve efficiency, and optimize our cost structure, particularly as we transition from early-stage experimentation to our focus on execution in our AI initiatives.

This momentum is sustainable.

By lowering our newest cohorts and diversified distribution channels.

Secondly in our authors segment, we are building for long term profitability by growth in both our consumer facing AI tools and enterprises facing robotics.

Thomas Ren: At the same time, we have streamlined our R&D process by leveraging AI tools and refocused resources on AI utility applications that generate user value. For example, R&D expenses accounted for 24% of our AI and other segments' revenue in the quarter, down from 39% in the year-ago quarter and 28% in the previous quarter. These efforts have materially improved the operating profit of our AI and other segments, where adjusted operating losses decreased 63% year over year and 32% quarter over quarter. Looking ahead, we remain confident in our ability to achieve profitability with a clear and disciplined strategy. We see two key drivers for this path. First, our internet business continues to deliver steady profits and serves as a solid financial foundation. In Q2, adjusted operating margin for this segment was 14%, up from 12% in the year-ago quarter.

Our our robotics business.

Privatizing Sellable use cases with clear user demand and engagement emphasizing our core competence denied powered voice interaction, including natural conversation capabilities similar to a L. M O M.

In our AI and robotics business, we have exited certain computing-expensive directions, such as planning our own foundation models. This strategic shift has significantly reduced infrastructure spend. At the same time, we have streamlined our R&D process by leveraging AI tools and focused resources on AI utility applications that generate user value. For example, R&D expenses accounted for 24% of our AI and other segment revenue in the quarter, down from 39% in the year-ago quarter.

Agents and we omitted any normal visit which we believe offers the most reliable.

The effective solution for scalable robust big Florida.

Continuously improving our robust intelligence and product experience. So do I agents are maintaining a lean and agile team structure.

And 28% in the previous cost, these efforts have materially improved. The operating profit of our AI and other segments was adjusted operating losses, which decreased 63% year-over-year.

In 32% quarter over quarter.

A recent milestone with our acquisition of Hewlett Packard, one of the few profitable robotic arm companies globally.

Factory brings a proven track record of profitable growth clear market position.

Consistent value creation, when you're aligned with our vision to scale differentiated robotic solutions over time.

Thomas Ren: Our transition from an ad-centric model to a user subscription-driven model is showing good momentum. We believe this momentum is sustainable, supported by loyal news cohorts and diversified distribution channels. Second, in our AI and other segments, we are building for long-term profitability by growth in both our consumer-facing AI tools and enterprise-facing robotics. For our robotics business, we are prioritizing scalable use cases with clear user demand and engagement, emphasizing our core competence. In AI-powered voice interaction, including natural conversation capabilities similar to LLM-based agents, and we avail indoor mobility, which we believe offers the most reliable and cost-effective solution for scalable robot deployment. Continuously improving our robots, intelligence, and product experience through AI agents and maintaining a lean and agile team structure. A recent milestone was our acquisition of UFactory, one of the few profitable robotic arm companies globally.

Looking ahead, we remain confident in our ability to achieve profitability. Our clear and disciplined strategy identifies several key drivers for this path. First, our internet business continues to deliver steady profits and serves as a solid financial foundation. In Q2, adjusted operating margin for this segment was 14%, up from 12% in the Euro group.

On the AI tools front Steve.

Seafood, an AI tool that southern Horizon video audio P. D F and other documents is to kind of size. The takeaways of mind mix has shown encouraging early user adoption validating product market fit our balance sheet remains strong as of the 13th of June 2025.

Our transition from an Arctic model for a user subscription to a model is showing good momentum. We believe this momentum is sustainable, supported by loyal users. We are utilizing cohorts and diverse side distribution channels.

$282 million in cash and cash equivalents of $110 million in long term investments.

Second in our AI and other segments, we are building for long-term growth. This is exemplified in both our consumer-facing AI tools and enterprise-facing robotics.

We generated RMB 362 million in operating cash flow during the quarter. This financial strength gives us the flexibility to continue investing in high potential eye probe opportunities, while maintaining capital discipline.

We will also remain open to strategic M&A.

I can accelerated capability building targeted verticals.

For our robotics business, we are prioritizing saleable use cases with clear user demand and engagement. We are emphasizing our core competency in AI-powered voice interaction, including natural conversation capabilities similar to our live-based agents. We believe this focus on mobility offers the most reliable and cost-effective solution for scalable robotics employment.

Summarize this was another quarter of measurable progress on our path to breakeven.

We are encouraged by early signs of sustainable profitability supported by one of profitable and resilient Internet business too.

Continuously improving our robots' intelligence and product experience through AI agents and maintaining a lean and actual team structure.

Our ROI focused ice strategy and three strong capital flexibility to invest in long term growth. We are now happy to take your questions.

Thomas Ren: UFactory brings a proven track record of profitable growth, clear market position, and consistent value creation, fully aligned with our vision to scale differentiated robotic solutions over time. On the AI tools front, DeepFlow, an AI tool that summarizes video, audio, PDF, and other documents into concise takeaways and mind maps, has shown encouraging early user adoption, validating product-market fit. Our balance sheet remains strong. As of June 30, 2025, we held $282 million in cash and cash equivalents, and $110 million in long-term investments. We generated RMB 362 million in operating cash flow during the quarter. This financial strength gives us the flexibility to continue investing in high-potential AI growth opportunities while maintaining capital discipline. We will also remain open to strategic M&A that can accelerate capability building in targeted verticals. To summarize, this was another quarter of measurable progress on our path to break-even.

They received a milestone with our acquisition of a few factors—one of the few profitable robotic arm companies globally.

Thank you we will now begin the question and answer session.

Your factory brings a proven track record of profitable growth, a clear market position, and consistent value creation, all aligned with our vision. The scale-differentiated robotic solutions have developed over time.

Ask a question you May press Star then one on a touchtone phone.

If you are using a speakerphone please pick up your handset before pressing the key.

And so at any time. Your question has been addressed and you would like to withdraw your question.

Please press Star then two.

At this time, we will pause for amendment to assemble our roster.

on the AI tools front Deepu, an AI tool that summarizes video audio, PDFs. And other documents these to concise takeaways and mind maps. As shown encouraging early, user adoption validating product Market, fit our balance sheet remains strong, as of the 30th of June 2025 in the, our 282 billion dollars in cash and cash, equivalents and 100.

The first question today will come with a will come from Thomas Chong of Jefferies. Please go ahead.

Dollars in long-term Investments.

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We generated R&B 362 million in operating cost flow during the quarter. This financial strength gives us the flexibility to continue investing in high-potential, high-growth opportunities while maintaining capital discipline.

Yeah.

Got you.

Okay.

Hi.

What you said.

Great.

We will also remain open to strategic M&A. I can accelerate capability building in targeted verticals.

Alright.

Pardon me.

Thomas Ren: We are encouraged by early signs of sustainable profitability, supported by, one, a profitable and resilient internet business, two, a disciplined ROI-focused AI strategy, and three, strong capital flexibility to invest in long-term growth. Thank you. We are now happy to take your questions.

Understood.

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Internet Business 2, a discipline ROI focused strategy with three strong tactical flexibilities to invest in long-term growth. Thank you. We are now happy to take your questions.

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Helen Zhu: Thank you. We will now begin the question and answer session. To ask a question, you may press star, then one on a touchtone phone. If you are using a speaker phone, please pick up your handset before pressing the keys. If at any time your question has been addressed and you would like to withdraw your question, please press star, then two. At this time, we will pause for a moment to assemble our roster. Ladies and gentlemen, please stand by for the English translation of the Q&A session. Please note that there may be a delay before the translation begins. There may also be a delay in between questions. Please do not disconnect.

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Thank you. We will now begin the question and answer session. To ask a question, you may press star, then 1 on your telephone.

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Our next question today will come from Brendan Sow CIC. Please go ahead.

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Our next question today will come from J T South of.

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Operator.

The next question. Thank you.

Our next question today will come.

Sandra Lee of <unk> Securities. Please go ahead.

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The next question today will come from and sang Wong of Everbright Securities. Please go ahead.

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Our next question today will come from Guam, Pangong Salience Acaridae. Please go ahead.

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Our next question will come from Jack Yang Mizuho. Please go ahead.

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Operator.

Operator can you. Please check if we have any further.

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Let's see if I'd like to ask a question. Please press star and then one potential and they can.

Yeah.

At this time I am not telling any additional questions in the question queue.

Okay and then.

And alcohol.

Thank you.

Okay. Thank you ladies and gentlemen.

First of all.

Yes. Thank you so much for joining our conference call today, if you have any further questions.

This is Kelly.

Elsewhere.

Thank you so much.

The conference has now concluded we do thank you for attending.

Today's presentation.

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