Total revenues were RMB208.5 million, an increase of 5.4% from RMB197.9 million for the same period in 2024. Subscription revenue from users was RMB28.5 million, a decrease of 38.4% from RMB46.3 million for the same period in 2024. Licensing revenues from content aggregators and distributors were RMB144.7 million, an increase of 26.8% from RMB117.9 million. Revenue from content sold to hardware manufacturers was RMB14.3 million, a decrease of 38.9% from RMB23.4 million. Revenue from sales of digital educational hardware devices was RMB21.0 million, an increase of 103.9% from RMB10.3 million. Cost of revenues was RMB177.5 million, an increase of 36.4% from RMB130.1 million. Sales and marketing expenses were RMB8.8 million, a decrease of 20.0% from RMB11.0 million. General and administrative expenses were RMB20.7 million, an increase of 73.9% from RMB11.9 million. Research and development expenses were RMB25.4 million, an increase of 95.4% from RMB13.0 million. Operating loss was RMB23.9 million, compared to operating income of RMB32.0 million for the same period in 2024. Non-GAAP loss from operations was RMB18.7 million, compared to non-GAAP income from operations of RMB32.0 million for the same period in 2024. Net loss attributable to shareholders was RMB21.3 million, compared to net income attributable to shareholders of RMB26.6 million for the same period in 2024. As of June 30, 2025, cash and cash equivalents and restricted cash balance was RMB55.2 million. In January 2025, the company, through its subsidiary Shanghai Jinxin, and a third company jointly set up Hainan Aixin Education Technology Limited. The company injected capital of RMB0.51 million and holds 51% of interest in Hainan Aixin.