Core Viewpoint - DeepYuan Intelligence, previously known as PinYou Interactive, is transitioning to the Hong Kong Stock Exchange in the first half of 2025, having submitted an updated prospectus. The company is a leader in AI applications for marketing and sales decision-making in China, with projected revenue of 540 million yuan and a market share of 2.6% in 2024 [2][8]. Revenue Structure - The revenue structure of DeepYuan Intelligence remains largely unchanged since its previous application for the ChiNext board, with revenue sources primarily from intelligent advertising and data management. The reliance on intelligent advertising is increasing, with its revenue share rising to 93.3% in the first half of 2025 [2][4]. - Revenue figures for 2022 to 2024 are 543 million yuan, 611 million yuan, and 538 million yuan, with 82.1%, 80.5%, and 85.5% of revenue coming from intelligent advertising, respectively [4]. Profitability and Financial Performance - The gross margin of DeepYuan Intelligence has declined compared to its 2022 application for the ChiNext board. The adjusted net profit is projected to be 13.367 million yuan in the first half of 2025 [2]. - The revenue from intelligent data management decreased from 29.169 million yuan in the first half of 2024 to 18.445 million yuan in the first half of 2025, primarily due to budget cuts from clients, especially in the traditional automotive sector [5]. Client and Supplier Dynamics - DeepYuan Intelligence serves 89 Fortune Global 500 companies across various industries, which enhances its credibility in the capital market. However, there is a complex relationship where some clients are also suppliers, leading to potential conflicts of interest [7]. - The company has reported that 70.2% of its revenue in the first half of 2025 came from its top five clients, indicating a high dependency on a limited client base [10]. Market Position and Competition - In the marketing and sales decision AI application market, DeepYuan Intelligence holds a leading position with a market share of 2.6%, while its closest competitors have shares of 2.4%, 2.1%, 1.9%, and 1.8% [8]. - The competitive landscape includes major players in the industry, with DeepYuan Intelligence focusing on providing services rather than competing directly with larger platforms like Tencent and Alibaba [8][9]. IPO Journey - This marks DeepYuan Intelligence's third attempt at an IPO, having previously applied for listings on the New Third Board and the ChiNext board. The company emphasizes the intense market competition it faces [9].

Core Viewpoint - The global market is currently experiencing a surge driven by artificial intelligence (AI) technology, with the Hong Kong stock market becoming a hotspot for AI-related IPOs [1] Group 1: Company Overview - Beijing DeepBrain Intelligent Technology Co., Ltd. (DeepBrain) is a leading decision-making AI company in China, focusing on marketing and sales applications [3] - According to Frost & Sullivan, DeepBrain ranks first in the Chinese marketing and sales decision-making AI application market with a market share of 2.6% based on 2024 revenue [3] - The company has a fourth-place ranking in the overall decision-making AI application market in China, with a market share of 1.6% [3] Group 2: IPO Attempts - DeepBrain has made multiple attempts to go public, including a failed application to the New Third Board in 2016 and a withdrawal of its application to the Shenzhen Stock Exchange in 2024 after three rounds of inquiries [4] - The company submitted a new application for listing on the Hong Kong Stock Exchange on December 1, 2023, after a previous application in May 2025 expired due to not passing the hearing within six months [4] Group 3: Financial Performance - DeepBrain's revenue for 2022, 2023, and 2024 was 543 million, 611 million, and 538 million yuan, respectively, indicating a revenue decline of approximately 12% in 2024 [6] - The net profit for the same years was 59 million, 61 million, and 22 million yuan, showing a significant decline of about 64% in 2024 [6] - The decrease in performance is attributed to a downturn in the macroeconomic environment affecting revenue from domestic clients in the FMCG and traditional automotive sectors [6] Group 4: Cost Structure and R&D Investment - DeepBrain's sales costs were high, accounting for 69.1%, 68.8%, and 72.7% of total revenue from 2022 to 2024 [8] - The company has been increasing its R&D investment, with expenditures of 46.9 million, 54.1 million, and 56.3 million yuan, representing 8.6%, 8.8%, and 10.5% of total revenue during the same period [8] - The company has completed six rounds of financing, attracting investments from notable capital firms [8]

Core Viewpoint - The global market is currently experiencing a surge driven by artificial intelligence (AI) technology, with the Hong Kong stock market becoming a hotspot for AI-related IPOs, exemplified by Beijing DeepBrain Intelligent Technology Co., Ltd. (DeepBrain) submitting its prospectus for listing on the Hong Kong Stock Exchange [1] Group 1: Company Overview - DeepBrain is a leading decision-making AI technology company in China, focusing on AI applications in marketing and sales, holding a market share of 2.6% in the Chinese marketing and sales decision-making AI application market, ranking first by projected revenue in 2024 [2] - The company has a broader market share of 1.6% in the overall decision-making AI application market in China, ranking fourth by projected revenue in 2024 [2] Group 2: Listing Attempts - DeepBrain has made multiple attempts to go public, including a failed application to the New Third Board in July 2016, which was later abandoned due to concerns over market liquidity and long-term strategic goals [3] - The company submitted an application to the Shenzhen Stock Exchange in June 2022 but voluntarily withdrew it in June 2024 after facing multiple rounds of inquiries regarding financial data authenticity, customer reliance, and governance issues [4] Group 3: Financial Performance - DeepBrain's revenue figures for 2022, 2023, and 2024 were 543 million, 611 million, and 538 million yuan respectively, with net profits of 59 million, 61 million, and 22 million yuan, indicating a revenue decline of approximately 12% and a net profit decline of about 64% in 2024 [6] - The decrease in performance is attributed to a downturn in the macroeconomic environment affecting revenue from domestic clients in the FMCG and traditional automotive sectors, as well as adjustments in marketing schedules from some overseas clients [6] - The company's gross margin fell to 27.3% in 2024, influenced by a high sales cost ratio, which accounted for 69.1%, 68.8%, and 72.7% of total revenue from 2022 to 2024 [7] Group 4: Research and Development - DeepBrain has been increasing its R&D investments over the years, with expenditures of 46.9 million, 54.1 million, and 56.3 million yuan from 2022 to 2024, representing 8.6%, 8.8%, and 10.5% of total revenue respectively [7] - The company has completed six rounds of financing, attracting investments from notable funds such as China Mobile Innovation Industry Fund and Shenzhen Capital Group [7]

Core Viewpoint - The article discusses the ongoing trend of artificial intelligence (AI) technology leading the global market, with Hong Kong's stock market becoming a hotspot for AI-related IPOs, particularly focusing on Beijing DeepBrain Intelligent Technology Co., Ltd. (DeepBrain) which has submitted its prospectus for listing on the Hong Kong Stock Exchange [1]. Group 1: Company Overview - DeepBrain is a leading decision-making AI technology company in China, focusing on marketing and sales applications, holding a market share of 2.6% in the marketing and sales decision-making AI application market as of 2024 [3]. - The company has made multiple attempts to go public, including submissions to the New Third Board in 2016, the Shenzhen Stock Exchange in 2022, and now the Hong Kong Stock Exchange [4]. Group 2: Financial Performance - DeepBrain's revenue for the years 2022 to 2024 was 543 million yuan, 611 million yuan, and 538 million yuan respectively, indicating a revenue decline of approximately 12% in 2024 [7]. - The net profit for the same period was 59 million yuan, 61 million yuan, and 22 million yuan, showing a significant drop of about 64% in 2024 [7]. - The company's gross margin decreased to 27.3% in 2024, attributed to a decline in revenue from domestic clients in the FMCG and traditional automotive sectors, as well as adjustments in marketing schedules from overseas clients [7]. Group 3: Cost Structure and R&D Investment - DeepBrain's sales costs were high, accounting for 69.1%, 68.8%, and 72.7% of total revenue from 2022 to 2024 [8]. - The company has been increasing its R&D investment, with expenditures of 46.9 million yuan, 54.1 million yuan, and 56.3 million yuan over the same period, representing 8.6%, 8.8%, and 10.5% of total revenue respectively [8].

Core Viewpoint - DeepBrain Intelligence has submitted its listing application to the Hong Kong Stock Exchange, with ICBC International as the sole sponsor [1] Group 1: Market Position - According to Frost & Sullivan, DeepBrain Intelligence ranks first in China's marketing and sales decision AI application market with a market share of 2.6% based on 2024 revenue [1] - The company ranks fourth in China's overall decision-making AI application market with a market share of 1.6% [1] Group 2: Company Overview - DeepBrain Intelligence is one of the earliest companies in China to apply AI technology for digital transformation in enterprise marketing and sales [1] - The company offers AI applications focused on marketing and sales scenarios [1] Group 3: Key Platforms - The company has two flagship platforms: AlphaDesk, a proprietary AI decision-making platform for advertising launched in 2011, and AlphaData, an intelligent data management platform aimed at automating and optimizing advertising investments [1] - In February 2025, the company plans to launch the enterprise AI intelligent system DeepAgent, which will interface with open-source large language models to further enhance marketing automation and efficiency [1] Group 4: Client Base and Retention - The primary clients of the company are large and medium-sized enterprises with complex decision-making needs and high levels of digitalization, having served approximately 530 end customers, including 89 Fortune Global 500 companies [1] - The net revenue retention rate for core products is high, with AlphaDesk exceeding 85% and AlphaData exceeding 80% [1]

Core Viewpoint - Beijing DeepYuan Intelligent Technology Co., Ltd. has submitted its application for listing on the Hong Kong Stock Exchange for the second time this year, focusing on AI applications in marketing and sales [1] Company Overview - The company is a leading decision-making AI technology firm in China, ranking first in the marketing and sales decision-making AI application market with a market share of 2.6% as of 2024 [1] - It ranks fourth in the overall decision-making AI application market in China with a market share of 1.6% [1] - The company has developed two flagship platforms, AlphaDesk and AlphaData, and plans to launch a new product line, DeepAgent, in 2025 [1][2] Product Details - AlphaDesk, developed since 2011, is an AI decision-making platform for digital advertising, enabling automated and optimized ad placements across multiple media platforms [2] - DeepAgent, set to launch in February 2025, will consist of a series of intelligent agent products aimed at enhancing marketing automation and decision-making quality [2] Client Base - The company has established a client base focused on large and medium-sized enterprises with complex decision-making needs, serving approximately 530 clients, including 89 Fortune Global 500 companies [3] - The company maintains high customer loyalty, reflected in a net revenue retention rate of over 85% for AlphaDesk and over 80% for AlphaData [3] Financial Performance - The company's revenue for the six months ending June 30 for the years 2022, 2023, 2024, and 2025 was approximately RMB 543 million, RMB 611 million, RMB 538 million, and RMB 277 million respectively [4] - The comprehensive income for the same periods was RMB 59.21 million, RMB 53.09 million, RMB 17.67 million, and RMB 6.50 million respectively [5] - The gross profit margins for these periods were 30.9%, 31.2%, 27.3%, and 27.1% respectively [6] Industry Overview - The AI application market in China is projected to grow from RMB 20 billion in 2020 to RMB 63.9 billion by 2024, with a compound annual growth rate (CAGR) of 33.7% [7] - The decision-making AI application market is expected to expand from RMB 10.6 billion in 2020 to RMB 34.5 billion by 2024, with a CAGR of 34.3% [7] - The marketing and sales decision-making AI application market is anticipated to grow from RMB 6.2 billion in 2020 to RMB 20.3 billion by 2024, with a CAGR of 35.0% [7]

Company Overview - The company is a decision-making AI technology firm in China, focusing on AI applications for marketing and sales scenarios. It ranks first in the Chinese marketing and sales decision-making AI application market with a market share of 2.6% as of 2024 [3]. - The company is one of the earliest adopters of AI technology for digital transformation in enterprise marketing and sales, integrating AI with business scenarios to build a product foundation based on technology, data intelligence, and industry expertise [3]. - The company has developed flagship platforms AlphaDesk and AlphaData, and plans to launch DeepAgent, a series of enterprise AI agent products, in 2025 to enhance marketing automation and efficiency [3][4]. Product Details - AlphaDesk, developed since 2011, is a proprietary AI decision-making platform for digital advertising, enabling advertisers to automate and optimize ad placements across multiple media platforms [4]. - DeepAgent, set to launch in February 2025, consists of a series of intelligent agent products that utilize AI-driven analytics and consumer insights to automate operational processes and improve decision quality [4]. - As of the last practical date, the company has signed 17 contracts related to DeepAgent, with a total contract value of approximately RMB 11.9 million [4]. Client Base - The company has established a client base focused on medium to large enterprises with complex decision-making needs and high levels of digitalization, serving around 530 clients, including 89 Fortune Global 500 companies [5]. - The company maintains high customer loyalty, reflected in a net revenue retention rate of over 85% for AlphaDesk and over 80% for AlphaData during the performance record period [5]. Financial Performance - The company's revenue for the six months ending June 30 for the years 2022, 2023, 2024, and 2025 was approximately RMB 543 million, RMB 611 million, RMB 538 million, and RMB 277 million respectively [7]. - The comprehensive income for the same periods was RMB 59.2 million, RMB 53.1 million, RMB 17.7 million, and RMB 6.5 million respectively [8]. - The gross profit margin for the same periods was 30.9%, 31.2%, 27.3%, and 27.1% respectively [9]. Industry Overview - The AI application market in China is projected to grow from RMB 20 billion in 2020 to RMB 63.9 billion in 2024, with a compound annual growth rate (CAGR) of 33.7% [11]. - The decision-making AI application market in China is expected to expand from RMB 10.6 billion in 2020 to RMB 34.5 billion in 2024, with a CAGR of 34.3% [13]. - The marketing and sales decision-making AI application market in China is anticipated to grow from RMB 6.2 billion in 2020 to RMB 20.3 billion in 2024, with a CAGR of 35.0% [15].

Company Overview - Beijing Deep AI Technology Co., Ltd. (referred to as Deep AI) has submitted its application for listing on the Hong Kong Stock Exchange for the second time in 2023, with ICBC International as the sole sponsor [1] - The company specializes in decision-making AI technology, focusing on AI applications in marketing and sales scenarios [4] - According to Frost & Sullivan, Deep AI ranks first in the Chinese marketing and sales decision-making AI application market with a market share of 2.6% based on projected 2024 revenue [4] Product and Technology - Deep AI has developed two flagship platforms, AlphaDesk and AlphaData, which are designed for intelligent advertising and data management [4] - The company launched DeepAgent, a series of enterprise AI agents, in February 2025, which integrates open-source large language models (LLMs) to enhance marketing automation and efficiency [5] - AlphaDesk, developed since 2011, is an AI decision-making platform for digital advertising, enabling automated and optimized ad placements across multiple media platforms [5] Client Base and Retention - The company has established a client base focused on large and medium-sized enterprises with complex decision-making needs and high levels of digitalization, serving approximately 530 clients, including 89 Fortune Global 500 companies [6] - Deep AI maintains high customer loyalty, reflected in a net revenue retention rate of over 85% for AlphaDesk and over 80% for AlphaData during the performance record period [6] Financial Performance - The company's revenue for the years ending June 30 for 2022, 2023, 2024, and the first half of 2025 was approximately RMB 543 million, RMB 611 million, RMB 538 million, and RMB 277 million respectively [6][10] - The comprehensive income for the same periods was RMB 59.2 million, RMB 53.1 million, RMB 17.7 million, and RMB 6.5 million respectively [7][10] - The gross profit margin for the years ending June 30 for 2022, 2023, 2024, and the first half of 2025 was 30.9%, 31.2%, 27.3%, and 27.1% respectively [8][10] Industry Overview - The AI application market in China is projected to grow from RMB 20 billion in 2020 to RMB 63.9 billion by 2024, with a compound annual growth rate (CAGR) of 33.7% [11] - The revenue scale of the decision-making AI application market in China is expected to increase from RMB 10.6 billion in 2020 to RMB 34.5 billion by 2024, with a CAGR of 34.3% [13] - The marketing and sales decision-making AI application market in China is anticipated to grow from RMB 6.2 billion in 2020 to RMB 20.3 billion by 2024, with a CAGR of 35.0% [15]

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]