Financial Performance - Deepexi Technology Co., Ltd. reported a revenue of RMB 414,991,000 for the year ended December 31, 2025, representing a 70.8% increase compared to RMB 242,926,000 in 2024[2] - The gross profit for the same period was RMB 228,555,000, an increase of 81.1% from RMB 126,177,000 in the previous year[3] - The total comprehensive loss for the year was RMB (934,559,000), a 25.5% improvement from RMB (1,254,990,000) in 2024[3] - Adjusted net loss (non-HKFRS measure) decreased by 71.4% to RMB (27,535,000) from RMB (96,389,000) year-over-year[2] - The company reported a pre-tax loss of RMB 934,509,000 for 2025, an improvement from a loss of RMB 1,254,990,000 in 2024[25] - The total loss for the year was RMB 934.6 million, a decrease of RMB 320.4 million compared to RMB 1,255.0 million in the same period last year, representing a reduction of 25.5%[59] - Adjusted net loss (non-HKFRS measure) for the year was RMB 27.5 million, a significant decrease of 71.4% from RMB 96.4 million in the previous year[61] Revenue Sources - Revenue from customer contracts increased to RMB 414,991,000 in 2025, up 71% from RMB 242,926,000 in 2024[16] - FastAGI enterprise-level AI solutions generated RMB 254,466,000 in revenue for 2025, a significant increase from RMB 90,396,000 in 2024[17] - FastData enterprise-level data intelligence solutions contributed RMB 160,525,000 in revenue, slightly down from RMB 152,530,000 in 2024[17] - Revenue from the FastAGI enterprise-level AI solution reached RMB 254.5 million, a remarkable increase of 181.5% compared to RMB 90.4 million in the previous year, accounting for 61.3% of total revenue[40][41] - Revenue from the FastData enterprise-level data intelligence solution was RMB 160.5 million, a modest increase of 5.2% from RMB 152.5 million in the previous year, representing 38.7% of total revenue[41][50] Assets and Liabilities - Cash and cash equivalents rose significantly to RMB 686,339,000 from RMB 208,317,000, indicating improved liquidity[4] - Trade receivables increased to RMB 307,614,000 from RMB 166,233,000, suggesting growth in sales and customer base[4] - The company’s total assets reached RMB 834,946,000, a substantial recovery from a negative net asset position of RMB (3,674,309,000) in 2024[4] - The company had a total trade payables and notes payable of RMB 111,695 thousand as of December 31, 2025, up from RMB 83,623 thousand in 2024, indicating increased liabilities[34] - Trade receivables and notes receivable increased to RMB 326,558 thousand in 2025 from RMB 185,057 thousand in 2024, indicating a significant growth in outstanding receivables[30] - The debt-to-capital ratio decreased to 23.4% from 965.3%, a reduction of 941.9 percentage points, primarily due to the issuance of H-shares and increased cash flow from operations[75] Corporate Developments - Deepexi Technology Co., Ltd. transitioned from a limited liability company to a joint-stock company on April 8, 2025, enhancing its corporate structure[5] - The company’s shares were listed on the Hong Kong Stock Exchange on October 28, 2025, marking a significant milestone for its capital market presence[6] - The company was established on May 3, 2018, and restructured into a joint-stock company on April 8, 2025[95] - The board of directors includes both executive and independent non-executive members, ensuring a diverse governance structure[96] - The company is committed to high standards of corporate governance and has adhered to the corporate governance code as per the Hong Kong Listing Rules[90] Research and Development - Research and development expenses increased to RMB 107,708,000 from RMB 81,399,000, reflecting a focus on innovation[3] - R&D expenses rose by 32.3% to RMB 107.7 million, driven by investments in training and fine-tuning foundational models and enhancing AI application capabilities[53] - The company is focusing on enterprise-level AI application solutions to address challenges in adopting large model AI technologies, aiming to enhance operational efficiency and decision-making[38] - The company has developed the Deepexi enterprise large model, integrating capabilities across various vertical industries to enhance operational efficiency[83] Customer Base and Market Presence - The number of customers grew to 130 in 2025, a 46.1% increase from 89 in 2024, significantly contributing to revenue growth[44] - The company has no single customer contributing over 10% of total revenue, indicating a diversified customer base[14] - The company aims to expand its sales network and customer base in China, with 30% of the raised funds (RMB 179.89 million) designated for this purpose[86] Financial Management - The company incurred costs of goods sold and services amounting to RMB 186,436,000 in 2025, up from RMB 116,749,000 in 2024[20] - The company has a cumulative tax loss of RMB 1,248,191,000 in mainland China as of December 31, 2025, which can offset future taxable profits[25] - The company is recognized as a "high-tech enterprise" in China, benefiting from a reduced corporate income tax rate of 15%[23] - The actual interest rates for bank loans range from 2.60% to 3.00%, with a total of RMB 60,894 thousand due within one year as of December 31, 2025[35] Future Outlook and Risks - The company aims to enhance its market presence through strategic initiatives and potential expansions[95] - The company faces several risks, including potential reputational damage from AI technology defects and compliance issues with cybersecurity and data protection laws[81] - The company has no plans for significant investments or capital asset investments beyond those disclosed in the announcement[80] Dividend Policy - The company has no plans to declare or pay any dividends for the years ending December 31, 2024, and 2025[27] - The company has not proposed any final dividends for the fiscal year ending December 31, 2025[87] Audit and Reporting - The financial statements for the year ending December 31, 2025, will be audited by Ernst & Young, although no assurance will be provided on the preliminary announcement[92] - The annual report for 2025 will be available on the company's website and the Hong Kong Stock Exchange website[93] - The report period for the financial results is from January 1, 2025, to December 31, 2025[94]
滴普科技(01384) - 2025 - 年度业绩