KEEP(HK:03650) 财联社·2025-08-25 11:26Core Viewpoint - Keep has successfully achieved a turnaround to profitability in the first half of 2025, focusing on AI-driven platform transformation and operational efficiency improvements [1][2][6]. Financial Performance - In the first half of 2025, Keep reported revenue of 822 million RMB, with an adjusted net profit of 10.35 million RMB, compared to a net loss of 167 million RMB in the same period last year [2][3]. - The gross profit reached 429 million RMB, with a gross margin increase from 46.0% to 52.2% year-on-year [1][3]. - The adjusted net profit margin was 1.3%, a significant improvement from the previous year's adjusted net loss margin of 15.5% [2]. User Metrics - Keep maintained an average monthly active user base of 22.49 million and an average monthly subscription member count of 2.8 million in the first half of 2025 [1][3]. - The membership penetration rate increased to 12.4%, up from 11.1% in the same period of 2024 [1][3]. - The average revenue per monthly active user rose to 6.1 RMB, a 4.5% increase from 5.8 RMB in the previous year [3]. Strategic Focus - Keep is undergoing a strategic transformation from a content-driven platform to an AI-enabled, data-driven fitness service [4][6]. - The company has successfully restructured its AI infrastructure and launched the basic version of its AI coach [1][4]. - Key milestones in AI development include the integration of a multi-agent system and the launch of the AI coach Kaka, which has shown strong user retention metrics [5][6]. Future Outlook - Keep aims to establish a clear growth path through the implementation of its AI strategy and operational efficiency improvements, enhancing its competitive edge [6].