玄武云二零二五年中期报告

02 04 05 10 16 26 27 29 31 58 2392 https://ir.wxchina.com/ Harneys Fiduciary (Cayman) Limited4th Floor, Harbour Place103 South Church Street, P.O. Box 10240Grand Cayman KY1-1002Cayman Islands 22 389904 101A Harneys Fiduciary (Cayman) Limited4th Floor, Harbour Place103 South Church Street, P.O. Box 10240Grand Cayman KY1-1002Cayman Islands 183171712–1716 AIAICRMAICRM PaaSSaaScPaaS410.936.5% AI+SaaS2025 41011TMT2,351 SaaSSaaS245.032.9%SaaS26.5%3.495.0%(1)(2)1.3SaaS1,558SaaS1.1 ICC5GICC14iPushICC90% DMP189.738.1% AI+CRM++aPaaS [100]UIUAIDeepSeekU AIDeepSeekSKU––AIAI12 AIaPaaSAIU AIoTAIoT28.633.6%(ARR)62.9%12.4 SaaS19.9%DeepSeek90%26.671.7% AI +AI2025 AI AIAI+ SKUAIAIAI+AI 2025SaaS PaaSSaaSSaaS50%59.6%202456.4%PaaS40.4%202443.6% 202563036.5%410.92024647.5PaaSSaaS PaaS 2025630PaaS41.2%166.02024282.4 SaaS 2025630SaaS32.9%245.02024365.1CRMSaaS 202563038.5%336.02024546.2PaaSSaaS PaaS2025630PaaS41.2%156.02024265.5PaaSPaaS SaaS2025630SaaS35.9%180.02024280.8(i)SaaS(ii)(iii)SaaS 202563026.0%75.02024101.215.6%18.2% PaaS2025630PaaS6.0%20246.0% SaaS2025630SaaS26.5%202423.1%SaaS 20256302.1%48.8202449.9 20256302.1%22.9202423.4 202563012.8%28.6202432.8 20256300.7%2.720242.7 202563042.9%1.620242.9(i)(ii) — —20256302024630—2.11.8 202563020246300.20.2 25.920246306.42025PaaSSaaS 202563094.62024123171.432.4% 202563020241231 202563020241231 202563050.4%2024123148.5% 2025630 202563020241231 2025630 2025630XV(a)XV78(b)352(c)C3 (1)(1)100%(2)100,968,00031,500,00013,500,00018,000,00013,500,00018.02%5.62%2.41%3.21%2.41% (2)100%66,311,77011.83% (3)100%55,542,46010.67% (4) (5)100%13,500,0002.41% 2025630XV(a)XV78(b)352(c) 2025630XV23336 (1)100%53,417,1709.53% (2)31,500,0005.62% 2025630XV23336 202278163.3 (1) 2022 20221212022 2022(i)(ii)(iii)(iv)(v) 202210%56,032,0502025112025630202221,894,00021,894,0002025112025630202248,099,05048,453,050 1%5,603,2051.00(5)(1)2022(10)2022(7)(3) 20222022121202212202023162024520 1.202316202220242026113 2024927202220251015 2.202221 3.17.04(1) 4.2023160.632022630 2024927 202563060986.1202463098.3 13.51B(1) 202413.51B(1) C.2.1 C.2.1C.2.1 C.2.1 202562610%55,706,650 357,013.14376,000 2024630 201650% 2025630 2025828 1 202142622196134thFloor,Harbour Place, 103 South Church Street, P.O. Box 10240, Grand Cayman, KY1-1002, Cayman Islands CRM 20256302025828 2 202563034 20241231 3 20241231 (a) 211 (b)202511 9 718191028 4 20241231 5 5.1 20241231 6 (a) (i)CRM PaaS CRM PaaSPaaScPaaS (ii)CRM SaaS CRMSaaSSaaSCRM 202563020241231 6 2025630 6 (b)2024630 7 (a)PaaSSaaS20256302024630 20256302024630 (b) 8 9 (a) 10 (a)201941[2019]3916%13% 10 (a) [2011]1003% (b) 11— 12— 13 (a) (b) 16.5%20252024630 (c) 13 (c) 25% 201220271215% 20081120%2025630320%25% 200712620081110%5% 14 (a) 20256302024630 (b) 2025202463020252024630 18 (b) (c) (d)3090202563020241231 9202563035,684,0002024123132,937,000 20 20 (b) 21 (a) 2022121 (i) 2023164,985,00012243630%30%40% 21 (a) 2025630263,00020246301,176,000 21 (a) (ii) 20249273,438,00012 0.66 2025630253,00020246309 22 (a)202563035,000,0002024123133,000,000 (b) (c)202563020241231 (a) 202563020241231 24 25 6302024630 26 (a)202563020241231(b)202563020241231 27 (b) 14A 28 2025630 ICC 2025630 20222022121 %