Core Viewpoint - Qiniu Intelligent (02567) has announced that He Shun has signed a voluntary commitment to extend the lock-up period for its shares, reflecting confidence in the long-term value and prospects of the group [1] Group 1 - He Shun has committed to not selling any of its shares or entering into any transactions with similar economic effects for an additional twelve months from the original expiration date [1] - The new lock-up period will be from October 16, 2025, to October 15, 2026, inclusive [1] - As of the announcement date, He Shun holds a total of 63.9 million shares, representing approximately 3.20% of the total issued shares [1]

Core Viewpoint - Qiniu Intelligent (02567.HK) demonstrates confidence in the long-term value and prospects of the group through voluntary commitments made by its Chairman and CEO, Xu Shiwei, and non-executive director, Lv Guihua, to extend their shareholding lock-up period for an additional 12 months [1] Summary by Relevant Sections - **Shareholding Commitments** - Xu Shiwei and Lv Guihua have each signed voluntary commitments to extend their original lock-up period for their shares by another 12 months, starting from the original expiration date [1] - The new lock-up period will last from October 16, 2025, to October 15, 2026 [1] - **Shareholding Details** - As of the announcement date, Xu Shiwei indirectly holds a total of 329,861,880 shares, representing approximately 16.52% of the total issued shares [1] - Lv Guihua indirectly holds a total of 108,052,380 shares, accounting for about 5.41% of the total issued shares [1] - Together, the shares held by Xu Shiwei and Lv Guihua total 437,914,260 shares, which is approximately 21.93% of the total issued shares [1] - The shares mentioned are the entirety of the holdings by the relevant directors as of the announcement date, excluding any unexercised options [1]

Core Viewpoint - Qiniu Intelligent (02567) demonstrates confidence in the long-term value and prospects of the group through voluntary commitments made by its chairman, CEO, and executive director, Xu Shiwei, along with non-executive director, Lv Guihua [1] Group 1 - Xu Shiwei and Lv Guihua have signed voluntary commitments to extend their original lock-up period for all shares held in the company for an additional twelve months, starting from the original expiration date [1] - The new lock-up period will last from October 16, 2025, to October 15, 2026, during which they will not sell any shares or enter into any transactions with similar economic effects [1]

Core Viewpoint - Qiniu Intelligent (02567) demonstrates confidence in the long-term value and prospects of the group through voluntary commitments made by its chairman, CEO, and executive director, Mr. Xu Shiwei, and non-executive director, Mr. Lv Guihua [1] Group 1 - Mr. Xu and Mr. Lv have signed voluntary commitments to extend their original lock-up period for all shares held in the company for an additional twelve months [1] - The original lock-up period, which started from the listing date, is now extended until October 15, 2026, including both the start and end dates [1] - This commitment reflects their support for the group's continuous, stable, and healthy development [1]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負 責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部 或任何部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 Qiniu Limited 七牛智能科技有限公司 （於英屬維爾京群島註冊成立並遷至開曼群島及於開曼群島存續的有限公司) (股份代號: 2567) 自願性公告 基石投資者自願延長禁售承諾 本 公 告 由 七 牛 智 能 科 技 有 限 公 司（「本公司」，連 同 其 附 屬 公 司 及 合 併 聯 屬 實 體， 統 稱「本集團」）自 願 作 出。 茲提述本公司日期為2024年9月30日之招股章程及本公司日期為2024年10月15日 之 最 終 發 售 價 及 配 發 結 果 公 告，內 容 有 關（其 中 包 括）：禾 順 有 限 合 夥（「禾 順」）就 合 共63,900,000股 本 公 司 股 份（「股 份」）訂 立 之 基 石 投 資 協 議 及 其 禁 售 承 諾，禁 售 期 為 上 市 日 期（即2024年10月16日）後 十 二(12)個 月（包 括 首 尾 兩 日）（「原禁售期」）。 原禁 ...

本 公 司 欣 然 宣 佈，作 為 顯 示 本 公 司 主 席、首 席 執 行 官 兼 執 行 董 事 許 式 偉 先 生 及 非執行董事呂桂華先生對本集團之長遠價值及前景充滿信心，並支持本集團持續、 穩定及健康發展，彼等已各自簽訂以本公司為受益人之自願承諾，據此，彼等各 自承諾自願延長彼等就持有之所有本公司股份各自作出由上市日期起計為期十 二(12)個 月（包 括 首 尾 兩 日）期 間 的 原 有 禁 售 承 諾。許 先 生 及 呂 先 生 承 諾 由 原 到 期 日期起計另一個十二(12)個月內不會出售彼等之任何股份或訂立任何具有相同 經濟影響的交易，由2025年10月16日起至2026年10月15日（包 括 首 尾 兩 日）。 – 1 – 於本公告日期，(i)許先生透過Dream Galaxy間接持有合共329,861,880股股份，佔已 發行股份總數約16.52%；及(ii)呂先生透過Dustland間接持有合共108,052,380股股份， 佔已發行股份總數約5.41%。上述股份乃許先生及呂先生所持有的全部本公司股 份，而 有 關 股 份 總 數 為437,914,260股，佔 已 發 行 股 份 ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年9月30日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 七牛智能科技有限公司 呈交日期: 2025年10月8日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 02567 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 5,000,000,000 | USD | | 0.0001 | USD | | 500,000 | | 增加 / 減少 (-) | | | 0 | | | | USD | | | | 本月底結存 | | | 5,000,000,000 | USD | | 0.0001 | USD | | 500,000 | 本月底法定/註冊股 ...

Financial Performance - Total revenue for the six months ended June 30, 2025, was RMB 829.4 million, an increase of 16.8% compared to RMB 710.4 million for the same period in 2024[12]. - The company recorded a loss of RMB 33.4 million for the six months ended June 30, 2025, a significant reduction of 81.4% from a loss of RMB 179.6 million in the same period of 2024[13]. - Adjusted net loss (non-IFRS) was RMB 28.6 million, down 28.1% from RMB 39.8 million in the prior year[14]. - Adjusted EBITDA (non-IFRS) loss was RMB 3.5 million, a 64.6% improvement from a loss of RMB 9.9 million in the previous year[14]. - Total comprehensive loss for the six months ended June 30, 2025, was RMB 198.6 million, compared to RMB 34.7 million for the same period in 2024, primarily due to changes in the fair value of convertible redeemable preferred shares[51]. Revenue Breakdown - AI-related revenue reached RMB 184.0 million, accounting for 22.2% of total revenue for the period[13]. - Total revenue from MPaaS products increased by 16.4% to RMB 591,412,000 for the six months ended June 30, 2025, driven by growth in QCDN, Kodo, and Dora[30]. - QCDN revenue reached RMB 375,772,000, accounting for 64% of total MPaaS revenue, compared to 68% in the previous year[29]. - APaaS revenue increased by 24.4% to RMB 221,895,000, primarily due to a significant rise in video marketing revenue[33]. - Total revenue from other services for the six months ended June 30, 2025, was RMB 16.1 million, accounting for approximately 1.9% of total revenue[37]. User and Market Insights - As of June 30, 2025, the registered developer user base exceeded 1.6 million[15]. - The number of users for AI large model services exceeded 10,000 by early August 2025, indicating strong market demand[26]. - AI inference computing in China is projected to grow at a compound annual growth rate of 190% from 2024 to 2028, with its scale expected to surpass training computing by 2028[26]. - The global AI audio and video application market is shifting towards commercial implementation, requiring low latency and high concurrency capabilities[25]. Cost and Expenses - Sales cost increased by 20.4% from RMB 558.0 million for the six months ended June 30, 2024, to RMB 671.9 million for the six months ended June 30, 2025, consistent with revenue growth[38]. - R&D expenses rose by 6.9% from RMB 70.7 million for the six months ended June 30, 2024, to RMB 75.6 million for the same period in 2025, driven by increased investment in APaaS and AI-related projects[42]. - Selling and marketing expenses decreased from RMB 56.0 million for the six months ended June 30, 2024, to RMB 49.9 million for the same period in 2025, due to ongoing cost control efforts[43]. - Administrative expenses decreased from RMB 57.0 million for the six months ended June 30, 2024, to RMB 45.0 million for the same period in 2025, reflecting continued cost management[45]. Assets and Liabilities - Non-current assets decreased by 6.4% to RMB 190.6 million from RMB 203.6 million as of December 31, 2024[12]. - Current assets decreased by 11.0% to RMB 888.4 million from RMB 998.7 million as of December 31, 2024[12]. - Current liabilities decreased by 11.9% to RMB 662.5 million from RMB 752.2 million as of December 31, 2024[12]. - Total equity attributable to owners of the parent decreased by 6.8% to RMB 405.7 million from RMB 435.5 million as of December 31, 2024[12]. - The company's debt-to-asset ratio as of June 30, 2025, was 62.4%[52]. Cash Flow and Investments - The net cash flow used in operating activities for the six months ended June 30, 2025, was RMB 89.5 million, primarily due to a pre-tax loss of RMB 33.3 million[54]. - The net cash flow used in investing activities for the same period was RMB 149.7 million, mainly from cash outflows related to fixed deposits[56]. - The net cash flow used in financing activities was RMB 5.6 million, reflecting cash inflows from new borrowings offset by repayments of lease liabilities and other borrowings[58]. - Total capital expenditures for the six months ended June 30, 2025, amounted to RMB 17.3 million[60]. Corporate Governance and Compliance - The company has complied with all applicable Chinese laws and regulations without facing any penalties or enforcement actions during the reporting period[81]. - The audit committee consists of three independent non-executive directors, ensuring compliance with listing rules regarding audit committee composition[94]. - The company has maintained high standards of corporate governance to protect shareholder interests[89]. Shareholder Information - As of June 30, 2025, the total number of issued shares of the company is 1,996,644,474 shares[2]. - The company did not declare any interim dividend for the six months ending June 30, 2025[93]. - The company has adopted a share incentive plan in August 2025 that does not involve issuing new shares[99]. - The company has adopted a pre-IPO share scheme to attract and retain top talent since January 14, 2013[110]. Stock Options and Incentives - The total number of stock options granted under the pre-IPO share option plan is 131,225,193, with 129,798,693 options remaining unexercised as of June 30, 2025[129]. - The maximum number of shares that may be granted or issued under the pre-IPO share option plan is capped at 18,107,143 shares, excluding the impact of capitalized issues[123]. - The exercise price for stock options granted to executives ranges from $0.015 to $0.3000, with the highest number of options (50,400,000) granted to the executive director Chen Yiling at an exercise price of $0.0459[129]. - The company has adopted a post-IPO share option plan approved by shareholders on September 25, 2024, effective from the listing date[131]. - The purpose of the post-IPO share option plan is to incentivize qualified participants for their contributions to the company and to retain outstanding employees[132].

Core Viewpoint - The strategic partnership between Qiniu Intelligent and Wuxiang Cloud Valley aims to make AI inference computing power affordable, targeting the trillion-level AI inference market as the industry shifts from "heavy training" to "heavy inference" [2][3]. Group 1: Market Opportunity - The collaboration is positioned to capitalize on the explosive growth of inference computing power, with predictions indicating a distribution of "5% training and 95% inference" in AI computing needs [3]. - The demand for inference is expected to grow exponentially, with token usage in AI applications increasing significantly, as evidenced by Google's token processing volume doubling from 480 trillion to 960 trillion in just two months [3][4]. - The partnership targets a significant gap in the inference computing market, which is becoming the primary focus as AI applications become more prevalent [3]. Group 2: Competitive Advantage - Qiniu Intelligent has a first-mover advantage in inference computing, having built a robust platform since 2011, with over 1.69 million developers contributing to its ecosystem [5][6]. - The collaboration with Wuxiang Cloud Valley enhances Qiniu's infrastructure capabilities, with an investment of 3.6 billion yuan to support high-performance computing clusters [5][6]. - The combination of "ecosystem + infrastructure" creates a strong competitive barrier that is difficult for single vendors to replicate [5][6]. Group 3: Growth Potential - The partnership aligns with national policies promoting "inclusive AI," which may lead to additional support and resources [6]. - The collaboration will explore vertical industry solutions, such as "AI + education" and "AI + energy," tapping into sectors with low digitalization and high demand for AI services [6]. - Qiniu Intelligent is positioned to leverage its geographical advantage in Guangxi to provide cross-border inference services, facilitating the expansion of Chinese AI applications into Southeast Asia [6]. Group 4: Business Model and Financial Outlook - Qiniu Intelligent has developed a comprehensive business model that integrates foundational infrastructure, AI engines, and end-user applications, enhancing its market position [7][8]. - The company's AI Cloud segment has shown significant growth, with revenues reaching 184 million HKD in the first half of 2025, a 64.6% year-on-year increase [10]. - The financial trajectory indicates a nearing profitability point, with adjusted EBITDA narrowing to -3.5 million HKD, driven by the high-margin AI business [13][14]. Group 5: Valuation and Market Position - The current market valuation does not fully reflect Qiniu Intelligent's transition to a high-growth AI infrastructure provider, as it remains categorized as a traditional media cloud service [16][17]. - Compared to international peers, Qiniu's valuation multiples are significantly lower, suggesting potential for revaluation as the company progresses through a catalyst-rich period [17]. - The extensive developer ecosystem of over 1.69 million provides a solid foundation for revenue growth, with any increase in conversion rates leading to substantial revenue elasticity [15].

Core Viewpoint - Qiniu Intelligent (02567) has entered a strategic partnership with Wuxiang Cloud Valley to scale AI inference computing power, targeting the trillion-dollar AI inference market [1] Company Summary - Qiniu Cloud's stock rose by 5% in early trading, reaching 1.46 HKD with a trading volume of 2.3144 million HKD [1] - The company has three main product lines: Media Cloud, AI Cloud, and LinX Cloud, focusing on AI inference computing products [1] - In the first half of this year, Qiniu Cloud's AI-related revenue reached 184 million CNY, accounting for 22.2% of total revenue, primarily from AI inference services and computing resource leasing [1] Industry Summary - The partnership aims to provide accessible AI inference computing power for enterprises and entrepreneurs, indicating a significant growth opportunity in the AI inference market [1] - The demand for AI inference on Qiniu Cloud's platform has rapidly increased, with the number of AI-related users growing to 15,000, supported by over 50 callable large models [1]