Core Viewpoint - The company has demonstrated robust growth in 2024, with a significant reduction in net losses, driven by advancements in AI technology and strategic business focus [1][2][3]. Financial Performance - In 2024, the company achieved revenue of 5.261 billion yuan, a year-on-year increase of 25.1% [1] - Gross profit reached 2.245 billion yuan, maintaining a gross margin of 42.7% [1] - The net loss attributable to shareholders was 269 million yuan, a substantial reduction of 70.4% year-on-year, with a net loss margin of 5.1% [1] - Adjusted net loss for the year was 292 million yuan, narrowing by 29.6% compared to 2023 [1] - R&D expenses amounted to 2.170 billion yuan, representing 41.2% of revenue [1] Business Segments - The "Xianzhi AI Platform" business generated revenue of 3.676 billion yuan, up 46.7% year-on-year [2] - The "SHIFT Intelligent Solutions" business saw revenue decline by 20.3% to 1.022 billion yuan due to a strategic focus shift towards the Xianzhi AI Platform [2] - The "Shishuo AIGS Service" business contributed 563 million yuan, providing efficient development tools and services based on generative AI [2] Industry Expansion - The company maintained its position as the leading machine learning platform in China for six consecutive years, with a customer base expansion of 16% to 161 benchmark users [3] - Average revenue per benchmark user was 19.1 million yuan, with a net revenue growth rate (NDER) of 110% [3] Corporate Restructuring - The company established "Paradigm Group," with its enterprise service business becoming a core subsidiary, and launched a new consumer electronics segment called "Phancy" [4] - Phancy aims to provide AI Agent-based integrated hardware and software solutions, enhancing user interaction and service connectivity [4] Focus on AI Agent - The company is prioritizing the development of AI Agent technology, which can automate various business processes for enterprise clients [5] - In 2024, the company deployed AI Agent solutions across over 10 industries, enhancing operational efficiency [5] Development of Edge AI - The company anticipates significant growth in edge AI, with the launch of the ModelHubAIoT solution expected to facilitate easy deployment of distilled models [6] - Collaborations with partners aim to integrate edge computing capabilities with AI models, enhancing the accessibility of AI technology in consumer electronics [6][7] AI All-in-One Machine Demand - The company has partnered with Huawei to launch the SageOne IA solution, addressing the growing demand for AI model deployment and ensuring data security [8] - The solution enhances performance and flexibility for enterprises, supporting various mainstream large models [8]
第四范式(6682.HK)：业绩稳健转盈可期 全新范式集团体系下消费电子业务或成为重要增长引擎