Core Viewpoint - Beijing DeepZero Technology Co., Ltd. (DeepZero) is seeking to list on the Hong Kong Stock Exchange, but it faces significant challenges as its revenue and net profit are declining in contrast to the high growth rates of the industry [1][4]. Company Overview - DeepZero claims to be the leading company in China's marketing and sales decision AI application market, yet it has reported a decline in both revenue and net profit for 2024 [1][4]. - The company aims to use the funds raised from the IPO for continuous R&D, expanding its sales network, seeking strategic acquisitions, and general corporate purposes [2]. Financial Performance - Revenue for DeepZero from 2022 to 2024 was 5.43 billion, 6.11 billion, and 5.38 billion RMB, respectively, with a year-on-year decline of 11.9% in 2024 [4][5]. - Net profit figures for the same period were 59.36 million, 60.66 million, and 21.97 million RMB, showing a significant year-on-year decline of 64.5% in 2024 [4][5]. Market Position - DeepZero claims a market share of 2.6% in the marketing and sales decision AI application market, ranking first, but the top three companies only hold a combined market share of 7.1% [7][8]. - The competitive landscape includes several AI giants, such as Fourth Paradigm and SenseTime, which have significant advantages in the market [8][9]. Profitability and Margins - The overall gross margin for DeepZero from 2022 to 2024 was 30.9%, 31.2%, and 27.3%, indicating a downward trend [10][11]. - The gross margin for its intelligent advertising business was 27.7%, 30.7%, and 27.4%, while the intelligent data management business saw a more significant decline from 45.9% to 26.6% [10][11]. R&D Investment - R&D expenditures for DeepZero from 2022 to 2024 were 46.87 million, 54.06 million, and 56.34 million RMB, representing only 8.6%, 8.8%, and 10.5% of total revenue, which is significantly lower than industry peers [13][15]. Customer Concentration - Revenue from the top five customers accounted for over 50% of total revenue from 2022 to 2024, indicating a high concentration risk [16]. - The largest customer, Alibaba, has seen its contribution drop from 4.4 billion RMB in 2021 to approximately 0.9 billion RMB in 2024, leading to a shift in the customer base [17].

Core Viewpoint - DeepYuan Intelligent has officially submitted its prospectus to the Hong Kong Stock Exchange, aiming to capitalize on the AI agent market by leveraging its AI-enabled decision-making technology [1][3] Group 1: Market Position and Strategy - The company is focusing on the "scenario-based AI agent" development, launching products like Deep Agent for advertising and customer service, which aligns with industry needs for AI-enabled decision systems [3] - The Chinese decision AI application market is projected to reach 34.5 billion yuan in 2024, with DeepYuan's marketing and sales decision AI platform accounting for 58.8% of this market, and a CAGR of 36.2% from 2024 to 2029 [3][4] Group 2: Product Offerings and Performance - DeepYuan's core products include AlphaDesk, which enhances ad click-through rates by over 40%, and AlphaData, which improves customer retention rates by 32% through comprehensive lifecycle management [4] - The Deep Agent product integrates the DeepSeek model with industry expertise, serving major clients across five key industries, and has achieved a market share of 2.6%, leading the sector by 1.8 percentage points [3][4] Group 3: Research and Development - The company has established AI laboratories in cities like Beijing and Shanghai, with R&D investment exceeding 25% for three consecutive years [4] - The AI marketing solutions have been implemented in over 200 enterprises, processing more than 1 billion decision requests daily [4]

Core Viewpoint - Shenyan Intelligent Technology Co., Ltd. has submitted its listing application to the Hong Kong Stock Exchange, positioning itself as a leading player in the decision-making AI technology sector in China, particularly in marketing and sales applications [1] Financial Performance - In 2022, 2023, and 2024, the company recorded revenues of RMB 542.9 million, RMB 611.2 million, and RMB 537.9 million respectively, with a notable decline in 2024 attributed to challenging macroeconomic conditions affecting client marketing budgets and timelines [2] - Net profits for the same years were RMB 59.4 million, RMB 60.7 million, and RMB 21.5 million, indicating significant pressure on operations reflected in the 2024 profit drop [2] Client Dependency - The company relies heavily on a concentrated client base, with revenues from the top five clients accounting for 51.1%, 50.2%, and 54.6% of total revenue in 2022, 2023, and 2024 respectively, and the largest client contributing 22.6%, 14.0%, and 17.8% of total revenue [2] Market Competition - The decision-making AI application market in China is highly competitive and rapidly evolving, with new technologies and business models emerging continuously, posing a risk to the company's market position if it fails to maintain its competitive advantages in technology innovation, R&D capabilities, industry expertise, and brand recognition [3]

Core Viewpoint - After failing to list on the ChiNext board, the company is now attempting an IPO on the Hong Kong Stock Exchange, but it faces significant challenges as its net profit for 2024 is projected to decline by over 60% year-on-year [1][3]. Company Overview - The company, Beijing Deep AI Technology Co., Ltd. (Deep AI), is a leading decision-making AI technology firm in China, ranking first in the marketing and sales decision-making AI application market [1]. - The company focuses on decision-making AI applications with strategic emphasis on marketing and sales scenarios, including intelligent advertising and data management [1]. Financial Performance - For the fiscal years ending December 31, the company's revenue figures were approximately RMB 542.9 million in 2022, RMB 611.2 million in 2023, and projected RMB 538 million in 2024 [2]. - Corresponding net profits were approximately RMB 59.4 million in 2022, RMB 60.7 million in 2023, and are expected to drop to RMB 21.5 million in 2024, reflecting a year-on-year decline of 64.52% [3]. - The gross margins for intelligent advertising were 27.7% in 2022, 30.7% in 2023, and are expected to decrease to 27.4% in 2024, while for intelligent data management, the margins were 45.9%, 33.3%, and are projected to fall to 26.6% respectively [3][4]. Market Insights - The market size for decision-making AI applications in China has significantly increased from RMB 10.6 billion in 2020 to an expected RMB 34.5 billion in 2024, with a compound annual growth rate (CAGR) of 34.3% from 2020 to 2024 [2]. - The market is projected to reach RMB 161.5 billion by 2029, with a CAGR of 36.2% from 2024 to 2029 [2]. Shareholder Structure - The controlling shareholders, Huang Xiaonan and Xie Peng, hold approximately 20.96% and 14.77% of the company's equity, respectively [5]. - An agreement for unified voting actions among shareholders was established to ensure consensus during shareholder meetings [5]. IPO History - This is not the company's first attempt to enter the capital market; it previously sought to list on the ChiNext board but withdrew its application in June 2024 after entering the inquiry stage in July 2022 [5].

Core Viewpoint - Beijing DeepYuan Intelligent Technology Co., Ltd. (DeepYuan Intelligent) has submitted a listing application to the Hong Kong Stock Exchange, with ICBC International as its sole sponsor [1] Company Overview - DeepYuan Intelligent is a Chinese decision-making AI technology company focusing on marketing and sales scenarios, providing decision-making AI applications that include intelligent advertising and data management [4] - The company operates two flagship platforms, AlphaDesk and AlphaData, which leverage advanced AI algorithms and multimodal data to enable intelligent and automated decision-making in marketing and sales [4] Market Opportunity - According to Frost & Sullivan, the market size for decision-making AI applications in China is projected to reach RMB 34.5 billion by 2024 and grow to RMB 161.5 billion by 2029, representing a compound annual growth rate (CAGR) of 36.2% from 2024 to 2029 [4] - The segment focused on marketing and sales AI decision-making platforms is expected to grow from RMB 20.3 billion in 2024 to RMB 94.4 billion by 2029, with a robust CAGR of 36.5% during the same period, indicating a rising demand for intelligent, data-driven marketing solutions [4] Competitive Position - Based on projected revenue for 2024, DeepYuan Intelligent ranks first in the Chinese marketing and sales decision-making AI application market [5] - Approximately 80% of the company's revenue is derived from providing intelligent advertising and data management services [5] Client Base - The company's clients primarily consist of large and medium-sized enterprises in China with digital transformation needs, while also serving overseas clients [5] - Revenue from the top five clients for the years ending December 31 for 2022, 2023, and 2024 was RMB 277 million, RMB 307 million, and RMB 294 million, respectively, accounting for 51.1%, 50.2%, and 54.6% of total revenue for those years [5] Financial Performance - For the fiscal years 2022, 2023, and 2024, DeepYuan Intelligent reported revenues of approximately RMB 543 million, RMB 611 million, and RMB 538 million, respectively [7] - The net profits for the same periods were approximately RMB 59.4 million, RMB 60.7 million, and RMB 21.5 million [7] - Detailed financials show that gross profits were RMB 167.9 million, RMB 190.5 million, and RMB 146.6 million for the respective years [8]