决策AI公司深演智能，再次递表港交所

Core Viewpoint - The global market is currently experiencing a surge driven by artificial intelligence (AI) technology, with the Hong Kong stock market becoming a hotspot for AI-related IPOs, exemplified by Beijing DeepBrain Intelligent Technology Co., Ltd. (DeepBrain) submitting its prospectus for listing on the Hong Kong Stock Exchange [1] Group 1: Company Overview - DeepBrain is a leading decision-making AI technology company in China, focusing on AI applications in marketing and sales, holding a market share of 2.6% in the Chinese marketing and sales decision-making AI application market, ranking first by projected revenue in 2024 [2] - The company has a broader market share of 1.6% in the overall decision-making AI application market in China, ranking fourth by projected revenue in 2024 [2] Group 2: Listing Attempts - DeepBrain has made multiple attempts to go public, including a failed application to the New Third Board in July 2016, which was later abandoned due to concerns over market liquidity and long-term strategic goals [3] - The company submitted an application to the Shenzhen Stock Exchange in June 2022 but voluntarily withdrew it in June 2024 after facing multiple rounds of inquiries regarding financial data authenticity, customer reliance, and governance issues [4] Group 3: Financial Performance - DeepBrain's revenue figures for 2022, 2023, and 2024 were 543 million, 611 million, and 538 million yuan respectively, with net profits of 59 million, 61 million, and 22 million yuan, indicating a revenue decline of approximately 12% and a net profit decline of about 64% in 2024 [6] - The decrease in performance is attributed to a downturn in the macroeconomic environment affecting revenue from domestic clients in the FMCG and traditional automotive sectors, as well as adjustments in marketing schedules from some overseas clients [6] - The company's gross margin fell to 27.3% in 2024, influenced by a high sales cost ratio, which accounted for 69.1%, 68.8%, and 72.7% of total revenue from 2022 to 2024 [7] Group 4: Research and Development - DeepBrain has been increasing its R&D investments over the years, with expenditures of 46.9 million, 54.1 million, and 56.3 million yuan from 2022 to 2024, representing 8.6%, 8.8%, and 10.5% of total revenue respectively [7] - The company has completed six rounds of financing, attracting investments from notable funds such as China Mobile Innovation Industry Fund and Shenzhen Capital Group [7]