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 ...

Core Insights - 如祺出行 reported a revenue of 2.46 billion yuan for 2024, representing a year-on-year growth of 14% [1] - The annual net loss narrowed to 560 million yuan, a decrease of 18.6% compared to the 690 million yuan loss in 2023 [1] - The company has been in a loss position for several years, with losses of 684 million yuan, 627 million yuan, and 693 million yuan in 2021, 2022, and 2023 respectively [1] Financial Performance - Revenue cost increased by 8.1% to 2.5 billion yuan in 2024, influenced by rising driver service fees and increased payments to third-party ride service platforms [1] - The gross margin improved due to increased revenue from technology services, which have a higher margin than ride-hailing services [1] Market Position and Competition - The proportion of revenue from ride-hailing services increased from 83.9% in 2023 to 89.2% in 2024 [4] - The average transaction value per order decreased by 5.7% to 26.4 yuan in 2024 compared to 28 yuan in 2023 [4] - The company is facing intense market competition, particularly in Guangzhou, which remains its largest market [4][5] Research and Development - R&D expenditure for 2024 was 140 million yuan, an increase of 18.8%, primarily due to enhanced R&D capabilities and investments related to Robotaxi [4] - Revenue from other business segments, including Robotaxi, was only 2.04 million yuan, a slight increase of 2% from 2 million yuan in 2023, accounting for just 0.1% of total revenue [4] Regulatory Environment - Regulatory scrutiny has increased, with multiple agencies conducting inspections and requiring compliance from ride-hailing platforms, including 如祺出行 [5] - In 2024, the number of operational violations for several ride-hailing platforms, including 如祺出行, ranked among the highest in Guangzhou [5]

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]