Core Insights - Fourth Paradigm (06682.HK) reported a total revenue of 1.077 billion yuan for Q1 of FY2025, marking a year-on-year increase of 30.1% [2] - The company's gross profit reached 444 million yuan, also reflecting a 30.1% year-on-year growth, with a gross margin of 41.2% [2] - Following the positive earnings report, the stock opened 4% higher and surged over 8% during trading on May 16, reaching 42.9 HKD per share and a market capitalization of 21.1 billion HKD [2] Business Segment Performance - The "Prophet AI Platform," which constitutes 74.8% of total revenue, generated 805 million yuan in Q1, showing a significant year-on-year growth of 60.5% [5] - The SHIFT intelligent solutions segment reported revenue of 212 million yuan, down 14.9% year-on-year, with its revenue share decreasing to 19.7% due to strategic business expansion [5] - The AIGS service segment contributed 60 million yuan, accounting for 5.6% of total revenue [5] R&D and Future Plans - R&D expenses for Q1 amounted to 368 million yuan, an increase of 5.7% year-on-year, with an R&D expense ratio of 34.2%, down 8 percentage points [5] - The company plans to establish Paradigm Group, with the original Fourth Paradigm business becoming a core subsidiary, while also entering new sectors like consumer electronics [6] - The focus remains on enhancing AI capabilities across various industries, with a commitment to not pivoting away from enterprise services [6][7] Market Position and Profitability Outlook - Fourth Paradigm's overall R&D and revenue scale is smaller compared to peers like SenseTime, but it has a larger profit margin potential [7] - Based on current trends, the company is projected to achieve breakeven or positive net profit for FY2025, potentially becoming the third domestic AI software company to report profitability [7] - The vision is to leverage accumulated experience in vertical world models to expand AI capabilities beyond enterprise software, aiming for a broader market reach [8]

Group 1 - The core business progress report for Q1 FY2025 shows total revenue of RMB 1.077 billion, a year-on-year increase of 30.1%, and gross profit of RMB 444 million, also up by 30.1%, with a gross margin of 41.2% [1] - The company has launched an upgraded version of its AI platform, the "XianZhi" platform, which includes the AI Agent full-process development platform, allowing enterprise clients to easily integrate over 150 mainstream large models [1] - The AI platform is equipped with a rich set of ready-to-use AI applications covering multiple core enterprise scenarios, including AIGC, smart office, digital employees, intelligent Q&A, AI local search, decision analysis, large model development tools, model repository, and agent platform [1] Group 2 - The company's enterprise-level AI Agents have been implemented in over 14 industries, including finance, aviation, automotive, healthcare, energy, retail, ports, water conservancy, and education [2] - By transforming enterprise software with AI Agents, the company is horizontally integrating into high-frequency enterprise software products and collaborating with other leading enterprise software companies [2] - The company has launched various AI Agents targeting specific functions, such as "Collaborative Operation AI Agent" for OA processes, "Tax Empowerment Agent" for financial systems, "HR Agent" for human resources, and "Sales Manager Assistant Agent" for sales [2]

第四范式正致力于以「Agent + 世界模型」的技术理念去赋能更多的产业。 本文为IPO早知道原创 作者｜ Stone Jin 微信公众号｜ipozaozhidao 据 IPO早知道消息， 第四范式（ 06682.HK） 于 5月15日发布 了 截至 2025年3月31日 的 2025财年第一季度核心业务进展报告。 报告显示， 第四范式第一季度总收入 10.77亿元 （人民币，下同） ，同比增长 30.1% ；毛利润 4.44亿元，同比增长30.1%，毛利率 则 为 41.2%。 第一季度， 第四范式标杆客户数为 59个，标杆客户平均收入为1167万元，同比增长31.3%。 具体来讲， 作为第四范式所有业务的内核，先知 AI平台 第一季度 营收 8.05亿元，同比增长 60.5% 。 第一季度 ，第四范式先知平台迎来全新升级，基于原有 AI模型开发工具链，进一步推出AI Agent全 流程开发平台。企业客户可通过先知平台上内置的大模型应用平台Model Hub，轻松集成150+主流 大模型，并利用内置的数十个Agent智能体框架，构建完整LLM Ops体系，覆盖AI Agent开发全生 命周期。先知AI平台配 ...