范式2025年中期业绩：收入26.26亿元 同比增长40.7% 亏损大幅收窄71.2%

Core Insights - The company reported a significant revenue increase of RMB 2.626 billion, representing a year-on-year growth of approximately 40.7% [1] - Adjusted net loss narrowed to RMB 43.7 million, a reduction of about 71.2% compared to the previous year [1] - The AI platform business, a core segment, generated RMB 2.149 billion in revenue, up approximately 71.9% year-on-year, accounting for about 81.8% of total revenue [1] Financial Performance - Total revenue reached RMB 2.626 billion, a 40.7% increase from the previous year [1] - Adjusted net loss decreased to RMB 43.7 million from RMB 151.6 million, marking a 71.2% improvement [1] - The combined expenses as a percentage of revenue fell from 58.2% to 44.5% [1] - R&D expenses increased by approximately 5.1%, with the expense ratio declining by 11.5% to 34% [1] - Accounts receivable decreased significantly from RMB 3.086 billion at the end of last year to RMB 1.967 billion [1] Business Development - The company advanced the "AI Agent + World Model" initiative, achieving 90 benchmark users, an increase of 4 from the previous year, with an average revenue per user of RMB 17.98 million, up 56.6% [2] - The company maintained its leading position in the Chinese machine learning platform market for seven consecutive years, according to IDC [2] New Business Exploration - The company is exploring new fields under the "AI+" strategy, including "AI + Stablecoin" and "AI + Energy Storage," focusing on risk management and optimization of power trading strategies [3] - The company aims to capture emerging trends and explore new commercial values and application scenarios [3] Ecosystem Development - The Phancy consumer electronics business launched several products, including smartwatches and smart glasses, with plans to expand into smart toys and wearables [4] - The company is building a new ecosystem for smart terminal devices, collaborating with Huawei on AI model capabilities and integrating with high-performance, low-power chips [4] - Strategic partnerships with Broadcom for AI communication chips aim to enhance the company's competitive edge in consumer electronics [4] Future Outlook - The company is committed to a strategy focused on "technology-driven, customer value, and ecosystem win-win" to solidify its market position and drive future growth [5]