Transwarp(SH:688031) 智通财经网·2025-08-18 23:12Core Viewpoint - Starry Information Technology (Shanghai) Co., Ltd. has submitted its listing application to the Hong Kong Stock Exchange, with Haitong International as its sole sponsor [1] Company Overview - Starry Technology is an AI infrastructure software provider that integrates AI, big data, and cloud technology to help enterprises efficiently build AI infrastructure software, driving intelligent transformation and business model innovation across various industries [3] - By revenue, the company ranks fifth in China's AI infrastructure software market in 2024 and is the largest pure AI infrastructure software provider [3] - The company has developed a new generation of AI infrastructure software matrix, including big data and cloud platforms (TDH and TDC), distributed databases (ArgoDB and KunDB), data development and governance tools (TDS), AI platforms for large language models and machine learning operations (LLMOps and MLOps), and knowledge platforms (TKH) [3] - As of March 31, 2025, its products and solutions have been implemented in over ten industries, serving more than 1,600 clients, including approximately 110 Fortune China 500 companies [3] - From 2022 to 2024, the average repurchase revenue from existing clients accounted for over 70% of total revenue [3] Business Model - The company focuses on the commercialization of its proprietary software platform, with revenue primarily derived from software license sales and technical services for long-term deployment and operation [4] - The business is divided into three main lines: AI and big data infrastructure software business, solution business, and other business [4] Financial Performance - For the fiscal years ending December 31 and the three months ending March 31, the company reported revenues of approximately RMB 373 million, RMB 491 million, RMB 371 million, and RMB 64 million for 2022, 2023, 2024, and the first quarter of 2025, respectively [6] - The company incurred losses of approximately RMB 272 million, RMB 289 million, RMB 344 million, and RMB 84 million for the same periods [6] - The gross profit for the same periods was RMB 193 million, RMB 257 million, RMB 179 million, and RMB 23 million, respectively [7]