4月11日，出行科技与服务公司如祺出行（09680.HK）宣布，与低空出行科技生态企业广东高域科技有 限公司（下称"高域科技"）签订战略合作协议，共同推动低空出行服务商业化落地及创新发展。 如祺出行方面称，公司正依托智慧出行平台运营经验和优势，打造立体化智能出行平台，加快推进飞行 汽车融入出行服务生态。值得注意的是，此次合作意味着如祺出行开始将出行服务从传统网约车和 Robotaxi，拓展至低空出行服务场景，成为首家正式在业务层面布局飞行汽车运营的出行服务平台。 出行服务的赛道正从地面向空中延伸。 据了解，低空出行以1000米或3000米以下空域为依托，涉及无人驾驶航空器、飞行汽车等多个方面，涵 盖空中通勤、旅游等多个领域，是低空经济主要应用场景之一。2024年，低空经济首次被写入《政府工 作报告》；今年的《政府工作报告》再次指出，将推动低空经济等新兴产业安全健康发展。据不完全统 计，今年已有超过30个省（区、市）将低空经济纳入年度重点工作部署。 在国家战略和地方政策双重利好下，低空经济作为战略性新兴产业正逐步成为我国经济增长的新引擎。 据中国民航局测算，预计2025年我国低空经济的市场规模将达到1.5万亿元 ...

此次合作，标志着集团自2021年进入Robotaxi市场后，再次拓展出行服务边界，探索包括飞行汽车在内 的低空出行服务运营场景，打造立体化智慧出行平台。 高域于2024年12月成立，主要从事飞行汽车整机及其生态产品的研发、生产、销售与服务。高域已发佈 多旋翼飞行汽车GOVY AirCar、首款复合翼飞行汽车产品 GOVY AirJet，其中GOVY AirCar已获中国民 用航空局民用无人驾驶航空器特许飞行证。 基于集团对智慧出行市场的深刻理解和丰富运营经验，以及高域在飞行汽车的整车研发製造与创新应用 方面的优势，高域及集团将建立战略合作关系，联手以智慧出行平台运营经验和优势，加快飞行汽车融 入出行服务生态，实现从产品到服务无缝对接，为用户带来更便捷、高效的智慧立体出行方式，共同推 动低空出行服务商业化落地及创新发展。低空出行以1000米或3000米以下空域为依托，涉及无人机、无 人驾驶航空器、飞行汽车等多个方面，涵盖空中通勤、旅游等多个领域，是低空经济主要应用场景之 一。 智通财经APP讯，如祺出行(09680)发布公告，近日，公司的关联併表实体广州祺宸科技有限公司与广东 高域科技有限公司("高域")签署战 ...

中证报中证网讯（记者 万宇）3月27日，如祺出行发布2024年度业绩公告。2024年，如祺出行延续 了增长态势，全年总收入达到24.63亿元，同比增长14%，毛利率同比提升80%，全年多项核心财务指标 持续改善。包括网约车和Robotaxi的出行服务作为主营业务，收入同比增长21.2%。如祺出行近日还发 布消息称，探索包括飞行汽车在内的低空出行服务运营场景，打造立体化智能出行平台。 近日广汽集团公开提及，如祺出行平台为广汽智驾研发提供强大数据服务支持。广汽透露，将建设 万卡级别的算力集群以支持千万级场景数据训练，并发挥在B端的运营数据优势、在如祺出行部署超千 台数据采集车，相当于拥有百万级更优质、更有效的C端数据，可以让广汽能培育出性能更优的高阶智 驾模型。 如祺出行近日还在公司官微上发布消息称，正基于运营优势探索包括飞行汽车在内的低空出行服务 运营场景，打造立体化智能出行平台。 作为国内Robotaxi第一梯队公司，如祺出行在Robotaxi方面的进展一直备受市场关注。报告显示， 如祺出行持续加大在Robotaxi等方面的投入，2024年研发开支达到1.4亿元，同比增长18.8%，相关费用 主要用于Robo ...

公开信息显示，截至2025年2月，如祺出行平台运营Robotaxi合计超过300辆；在粤港澳大湾区核心区 域，自有车队的安全运营里程超过200万公里，已覆盖3000余个站点。 除了基本业务，如祺出行也正在基于自身网约车及Robotaxi商业化运营优势，持续布局自动驾驶运营数 据解决方案，并为广汽集团的智驾研发提供数据服务支持，同时计划探索包括飞行汽车在内的低空出行 服务运营场景，打造立体化智能出行平台。 本报讯(记者李雯珊)3月27日，广州宸祺出行科技有限公司(以下简称"如祺出行")发布2024年度业绩公 告。公司全年总收入24.63亿元人民币，同比增长14%，且连续三年保持双位数增长，报告期内毛利率 与2023年相比大幅改善，显示多项核心财务指标持续改善及盈利能力向好。 公告显示，如祺出行全年出行服务订单达1.13亿单，同比增长15.7%，平台注册用户为3450万，同比增 长45%。公司出行服务及技术服务两大核心业务均实现增长，其中，包括网约车和Robotaxi的出行服务 作为主营业务，为如祺出行贡献了21.99亿元的收入，同比增长21.2%。 如祺出行在业绩报告中称，将继续实施既定业务战略，包括利用已有成 ...

在竞争激烈的网约车行业，平台需要寻求更多的增长可能。3月27日，如祺出行（9680.HK）发布了 2024年财报。财报显示，2024年如祺出行收入为24.6亿元，同比增长14%。年度净亏损为5.6亿元，较 2023年同期的人民币6.9亿元减少18.6%。 如祺出行过去几年一直处于亏损状态。2021年、2022年和2023年，如祺出行年内亏损分别为6.84亿元， 6.27亿元和6.93亿元。财报显示，如祺出行亏损收窄主要是因为技术服务的收入增加，该服务的毛利率 高于网约车业务。此外，出行服务的毛损率得到改善，通过采取更审慎的客户奖励政策，减少了向客户 和司机提供的奖励。除了上述因素，平台改善了运营效率，使每笔订单的平均 IT服务费、折旧及摊销 等进一步优化。 收入成本上，2024年的收入成本同比增加8.1%至25亿元，主要受以下因素影响：司机服务费随着网约 车业务扩大而增加，车队销售及维修业务相关的车辆采购成本减少，导致汽车服务站的成本减少。此 外，向第三方出行服务平台支付的费用增加，如祺出行表示透过相互合作的第三方出行服务平台获得的 订单量增加，令应付相互合作的第三方出行服务平台的服务费有所增加。 去年7月1 ...

Core Insights - The company, 如祺出行, reported a total revenue of 2.463 billion RMB for the year 2024, marking a 14% year-on-year growth, with a significant increase in gross margin by 80% [1][2] - The company aims to expand its ride-hailing and Robotaxi services internationally, improve operational efficiency, and enhance the Robotaxi experience [1] Revenue Growth - The core business revenue from ride-hailing and Robotaxi services reached 2.199 billion RMB, reflecting a 21.2% increase year-on-year [2] - The registered user base grew to 34.5 million, a 45% increase, while the total ride service orders reached 113 million, up 15.7% year-on-year [2] - Overall transaction volume increased by 8.7% to 2.979 billion RMB, driven by the rise in order volume [2] Profitability Improvement - The gross profit margin improved significantly, with a year-on-year increase of 80%, and gross profit improved by 76.5%, leading to an 18.6% increase in profit [2] - Factors contributing to the margin improvement include increased technology service revenue, reduced incentives for customers and drivers, and enhanced operational efficiency [2] Investment in Autonomous Driving - The company invested 140 million RMB in R&D for Robotaxi and operational areas, a year-on-year increase of 18.8% [3] - The operational range of Robotaxi services expanded from Nansha, Guangzhou to Baoan and Nanshan in Shenzhen, and other areas [3] - As of February 2025, the company operated over 300 Robotaxi vehicles, covering more than 2 million kilometers in the Greater Bay Area [3] Low-altitude Travel Services - The company is exploring low-altitude travel service operations, including flying cars, to create a comprehensive intelligent travel platform [5] - The partnership with GAC Group aims to leverage data services for advanced autonomous driving model development [4]

Financial Performance - The company's revenue for the year ended December 31, 2024, was RMB 2,463,426 thousand, representing a 14.0% increase compared to RMB 2,161,063 thousand in 2023[4] - The gross loss decreased significantly by 76.5% to RMB 35,400 thousand from RMB 150,445 thousand in the previous year[4] - Operating loss improved by 18.6% to RMB 483,453 thousand from RMB 593,853 thousand in 2023[4] - The company reported a net loss of RMB 564,182 thousand, a reduction of 18.6% compared to RMB 692,794 thousand in the previous year[6] - The company reported a pre-tax loss of RMB 368,953,000 for 2024, an improvement from a loss of RMB 441,489,000 in 2023[26] - The company reported a loss attributable to ordinary shareholders of RMB 562,985,000 for 2024, compared to RMB 692,490,000 in 2023, representing a decrease of approximately 18.7%[32] - Adjusted net loss (non-IFRS measure) for the year ended December 31, 2024, was RMB 457.8 million, down 15.4% from RMB 541.2 million in 2023[68] - Net loss for the year ended December 31, 2024, was RMB 564.2 million, a decrease of 18.6% from RMB 692.8 million in 2023[66] Revenue Breakdown - Revenue from ride-hailing services reached RMB 2,196,924,000 in 2024, up 21% from RMB 1,812,133,000 in 2023[19] - The total transaction value reached RMB 2,978.8 million, an increase from RMB 2,741.0 million, reflecting a growth of 8.7%[5] - The average transaction value per order decreased slightly to RMB 26.4 from RMB 28.0[5] - Total revenue for the year ended December 31, 2024, was RMB 2,463,426,000, representing an increase of 14% from RMB 2,161,063,000 in 2023[26] - Total revenue increased by 14.0% from RMB 2,161.1 million in 2023 to RMB 2,463.4 million in 2024, driven by higher ride-hailing transaction volume[46] - Ride-hailing service revenue grew by 21.2% from RMB 1,814.1 million in 2023 to RMB 2,199.0 million in 2024, primarily due to increased ride-hailing transaction volume[49] Operational Metrics - The number of registered passengers increased to 34.5 million, up from 23.8 million in 2023, marking a growth of 45.3%[5] - The number of orders rose from 97.7 million in 2023 to 113.0 million in 2024, with daily orders increasing from 267.8 thousand to 309.6 thousand[49] Expenses and Costs - Research and development expenses totaled RMB 141,361,000 in 2024, compared to RMB 118,943,000 in 2023, indicating a 19% increase[30] - Sales and marketing expenses decreased by 10.4% from RMB 218.9 million in 2023 to RMB 196.2 million in 2024, attributed to reduced promotional spending[58] - General and administrative expenses fell by 12.4% from RMB 155.0 million in 2023 to RMB 135.7 million in 2024, due to decreased listing expenses and improved operational efficiency[59] - The company reported a significant reduction in general and administrative expenses, which were RMB 135,694,000 in 2024 compared to RMB 154,979,000 in 2023[26] - The company incurred financial costs of RMB 1,770,000 in 2024, a decrease from RMB 2,615,000 in 2023[28] Assets and Liquidity - Cash and cash equivalents increased significantly to RMB 1,016,618 thousand from RMB 612,858 thousand, indicating improved liquidity[8] - The total assets less current liabilities improved to RMB 1,116,167 thousand from a negative RMB 1,406,248 thousand in 2023[8] - Trade receivables rose to RMB 28,597,000 in 2024, up from RMB 20,044,000 in 2023, indicating a year-over-year increase of approximately 42.5%[35] - Prepayments increased to RMB 78,400,000 in 2024 from RMB 62,869,000 in 2023, marking a growth of about 24.7%[37] - Trade payables decreased to RMB 66,838,000 in 2024 from RMB 78,168,000 in 2023, a decline of approximately 14.5%[38] - Current ratio increased from 33.3% as of December 31, 2023, to 455.8% as of December 31, 2024[74] - Total debt as of December 31, 2024, was RMB 38.9 million, a decrease from RMB 69.0 million as of December 31, 2023[71] Strategic Initiatives - The company plans to continue expanding its ride-hailing services and invest in technology development to enhance operational efficiency[11] - The company plans to expand its ride-hailing and Robotaxi services internationally, optimize operational management through data analysis, and enhance brand awareness[45] - The company aims to expand its market presence and enhance its service offerings through strategic initiatives[111] Shareholder Information - The weighted average number of ordinary shares increased to 140,929,175 in 2024 from 90,000,000 in 2023, reflecting a significant increase in share issuance[33] - The total issued and paid-up ordinary shares increased to 196,343,994 in 2024 from 90,190,000 in 2023, reflecting a substantial increase due to share issuance[40] - The company had no dividends declared or paid for the year ended December 31, 2024, consistent with 2023[41] - The company does not recommend a final dividend for the year ending December 31, 2024[95] Risk Management - The company faces credit, liquidity, interest rate, and currency risks, which are actively managed[83] - The company has no significant foreign currency risk as of December 31, 2023[91] Governance and Compliance - The company has established an audit committee consisting of three independent non-executive directors to oversee financial reporting and internal controls[103] - The audit committee reviewed the group's annual performance for the year ending December 31, 2024, and confirmed that the financial statements were prepared in accordance with applicable accounting standards[103] - The company has not engaged in any purchase, sale, or redemption of its listed securities from the listing date until December 31, 2024[101] - There have been no changes to the board of directors that require disclosure under the listing rules as of the announcement date[102] - The annual report for the year ending December 31, 2024, will be published on the stock exchange and the company's website, containing all required information[105] - The company has not disclosed any insider trading violations by employees during the period from the listing date to the announcement date[100] Research and Development - The company is focused on developing L4 and L5 autonomous driving technologies for its Robotaxi services[111] - The company’s research and development costs had a tax deduction impact of RMB 32,742,000 in 2024, compared to RMB 28,493,000 in 2023, an increase of about 14.5%[31] - The net proceeds from the global offering amounted to approximately HKD 982.4 million, with 40% allocated for R&D activities[92]

Financial Performance - Revenue for the six months ended June 30, 2024, was RMB 1,037,053 thousand, representing a 13.6% increase compared to RMB 912,624 thousand in the same period of 2023[2] - Gross loss improved to RMB (32,445) thousand, a 54.1% reduction from RMB (70,689) thousand year-on-year[2] - Operating loss decreased to RMB (255,887) thousand, a 17.4% improvement from RMB (309,642) thousand in the prior year[2] - The net loss attributable to equity shareholders was RMB (331,634) thousand, slightly improved from RMB (345,410) thousand year-on-year[2] - The company reported a total comprehensive loss of RMB (334,990) thousand for the period, compared to RMB (363,840) thousand in the same period last year[6] - The company reported a loss before tax of RMB 193,397,000 for the six months ended June 30, 2024[19] - The company’s loss attributable to equity shareholders for the six months ended June 30, 2024, was RMB 331,634,000, compared to RMB 345,410,000 for the same period in 2023[27] - The company’s total comprehensive loss for the six months ended June 30, 2024, was RMB 331,634,000, reflecting ongoing challenges in the market[25] - Net loss for the six months ended June 30, 2024, was RMB 331.6 million, a decrease of 4.0% from RMB 345.4 million in the same period of 2023[63] - Adjusted net loss (non-IFRS measure) decreased by 14.0% from RMB 281.3 million for the six months ended June 30, 2023, to RMB 242.0 million for the same period in 2024[65] Revenue Breakdown - Revenue from ride-hailing services amounted to RMB 878,514,000, up from RMB 789,875,000 in the previous year, indicating a growth of about 11.2%[15] - The revenue from fleet sales and maintenance services was RMB 149,250,000, compared to RMB 118,518,000 in the same period last year, reflecting a growth of approximately 25.9%[15] - The company’s technology services revenue increased to RMB 8,740,000 from RMB 3,169,000 year-on-year, marking a growth of approximately 175.5%[15] - The company's ride-hailing service revenue increased by 11.1% to RMB 879.1 million for the six months ended June 30, 2024, compared to RMB 790.9 million for the same period in 2023[51] - Fleet sales and maintenance revenue rose by 25.9% to RMB 149.3 million for the six months ended June 30, 2024, compared to RMB 118.5 million for the same period in 2023[51] Operational Metrics - The number of registered passengers increased to 33.8 million, up from 21.6 million in the previous year, marking a significant growth[3] - Total transaction volume reached RMB 1,295.9 million, compared to RMB 1,250.1 million in the same period last year, indicating a steady increase[3] - The average transaction amount per order was RMB 26.7, down from RMB 28.9 in the previous year, reflecting a change in transaction dynamics[3] - The number of orders rose from 43.2 million in the six months ended June 30, 2023, to 48.5 million in the same period of 2024, representing an increase of approximately 7.6%[46] Cash Flow and Liquidity - Cash and cash equivalents decreased to RMB 373,040 thousand from RMB 612,858 thousand as of December 31, 2023, indicating a liquidity challenge[7] - The company has a cash flow forecast indicating sufficient operational funds to meet its liabilities for at least the next twelve months[11] - The net cash used in operating activities for the six months ended June 30, 2024, was RMB 200.0 million, a decrease from RMB 373.3 million for the same period in 2023[68] - The company's total debt as of June 30, 2024, was RMB 35.5 million, a decrease from RMB 68.9 million as of December 31, 2023, reflecting a reduction in financial obligations[69] - The current ratio decreased from 33.3% as of December 31, 2023, to 21.9% as of June 30, 2024, primarily due to cash outflows from operations[72] Investment and Development - The company plans to continue expanding its ride-hailing services and invest in technology development to enhance operational efficiency and user experience[9] - The company plans to expand its ride-hailing and Robotaxi services internationally and optimize its service platform[48] - The company’s strategy includes a focus on expanding its market presence and enhancing its technology offerings, as indicated by the significant increase in R&D expenditures[34] - Research and development expenses for the six months ended June 30, 2024, amounted to RMB 59,646,000, up from RMB 43,831,000 for the same period in 2023, reflecting a 36% increase[24] - Capital expenditures for the first half of 2024 were RMB 5.8 million, down from RMB 22.0 million in the first half of 2023, showing a significant reduction in investment[75] Governance and Compliance - The board of directors includes both executive and independent non-executive members, ensuring a diverse governance structure[92] - The audit committee, consisting of three independent non-executive directors, has been established to review the interim performance of the group[85] - The interim financial report for the six months ended June 30, 2024, has been reviewed by the independent auditor KPMG according to the relevant standards[86] - The interim report will be published on the Hong Kong Stock Exchange and the company's website, containing all required information as per listing rules[87] Market Position and Future Outlook - The company completed its initial public offering on July 10, 2024, issuing 30,004,800 shares and raising approximately HKD 984 million[11] - The company is currently in the process of developing L4 and L5 autonomous driving technologies for its Robotaxi services[91] - The company raised approximately HKD 983.6 million from its global offering, with no changes to the proposed use of proceeds as disclosed in the prospectus[78] - The company had a total of 466 full-time employees as of June 30, 2024, with a focus on competitive compensation and employee development[76]