Core Viewpoint - The company is a pioneer in the industrialization of AGI technology in China, with rapid deployment of AI solutions in daily life and healthcare sectors driven by its proprietary 600 billion parameter model, "Shanhai Model" [2][3]. Group 1: Company Overview - The company, founded in 2012, established the Atlas AI infrastructure in 2016 and launched the Shanhai Model in 2023 [2]. - The company's ownership structure includes Yun Si Shang Yi at 24.08%, Yun Chuang Interactive at 3.80%, and key shareholders Dr. Huang, Dr. Liang, and Dr. Kang holding 3.78%, 2.27%, and other shares respectively [2]. - As of mid-2025, the company has 454 employees, with 68.7% in research and development [2]. Group 2: Financial Projections - The company is projected to achieve revenues of 12.68 billion, 19.43 billion, and 26.59 billion RMB for the years 2025, 2026, and 2027, representing year-on-year growth rates of 35%, 53%, and 37% respectively [1]. - The net profit attributable to the parent company is expected to be -2.45 billion, -1.35 billion, and -1.04 billion RMB for the same years, with growth rates of 46%, 45%, and 23% respectively [1]. Group 3: Business Performance - In 2024, the company achieved revenue of 9.39 billion RMB, a year-on-year increase of 29.1% [3]. - Revenue from daily life services and healthcare grew by 27.8% and 34.4% in 2024, and 20.2% and 22.28% in the first half of 2025 respectively [3]. - The company sold 36 million AI chips to developers and customers in 2024, supporting its AI solutions in various sectors [3]. Group 4: Market Growth - The AI solutions market in China is projected to reach 180.4 billion RMB in 2024, with a five-year compound annual growth rate (CAGR) of 33.7%, expected to grow to 1,174.9 billion RMB by 2030 [4]. - The company ranks fourth in the Chinese AI solutions market and third in the daily life AI solutions market, while also ranking fourth in the healthcare AI market [4].
云知声(9678.HK)首次覆盖：AGI技术产业化的先行者