Kunlun(SZ:300418) Sou Hu Cai Jing·2025-07-15 07:27Core Viewpoint - Kunlun Wanwei reported a total operating revenue of 5.662 billion yuan for 2024, a year-on-year increase of 15.20%, but faced a net loss of 1.947 billion yuan, a decline of 227.01% [1][3] Financial Performance - The company experienced a net loss of 1.595 billion yuan in 2024, marking a significant downturn compared to previous years where it maintained profitability [3] - In the first quarter of 2025, Kunlun Wanwei reported an operating revenue of 1.764 billion yuan, a year-on-year increase of 46.07%, but still recorded a net loss of 929.4 million yuan, a decline of 352.40% [3] Strategic Focus - The primary reasons for the 2024 loss were attributed to a substantial increase in research and development investment in the artificial intelligence sector, with R&D expenses reaching 1.54 billion yuan, a 59.5% increase from the previous year [3] - The company is committed to its AI strategy, emphasizing that AI represents a rare opportunity, and despite short-term losses, it will continue to invest to maintain its position among the top players in AI [3] Future Outlook - CEO Fang Han indicated that Kunlun Wanwei is in a phase of user acquisition and aims to achieve full profitability by 2026, with aspirations to become a major player in the industry [1][3]