KEEP(HK:03650) IPO早知道·2025-08-26 01:06Core Viewpoint - Keep is transitioning from a content-driven platform to an AI-enabled, data-driven smart fitness service, aiming for significant growth in user engagement and revenue through strategic optimization and AI integration [2][3]. 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 and a gross profit of 429 million RMB, resulting in a gross margin increase from 46.0% to 52.2% compared to the same period last year [2]. - The company is experiencing a revenue contraction due to a strategic decision to optimize its product categories and focus on higher-margin businesses, particularly moving away from low-margin operations [2]. Strategic Developments - Keep has successfully deployed an AI infrastructure to restructure its core tools and functionalities into AI coaching services, marking a significant step in its strategic transformation [2]. - As of July 2025, Keep's AI core daily active users exceeded 150,000, with expectations to reach over 1 million by the end of the year [3]. - The AI dietary recording feature has shown strong user retention, with a next-day retention rate of 50% and an overall app daily active user retention rate of 79% [3]. Future Projections - Keep anticipates that its AI annual recurring revenue (ARR) could exceed 200 million RMB by 2026, indicating strong growth potential in its AI-driven services [3].