Core Viewpoint - The company, Huya Technology (01860), anticipates a net profit of $30 million to $38 million for the six months ending June 30, 2025, compared to approximately $7.34 million for the six months ending June 30, 2024 [1] Group 1: Financial Performance - The expected increase in net profit is primarily due to the rapid development of the core business, the programmatic advertising platform Mintegral, where the company holds a technological lead, driving continuous revenue growth [1] - The operating leverage effect under scale is expected to enhance the net profit margin [1]

消息面上，汇量科技(01860)拟于8月29日举行董事会会议考虑及批准中期业绩。根据移动应用广告平台 Applovin最新业绩显示，该公司二季度营收12.59亿美元，同比增长77%，胜市场预期；纯利8.2亿美 元，同比飙升164%；调整后EBITDA为10.18亿美元，同比增长99%；调整后每股盈利2.39美元，优于市 场预期的2.32美元。中金指出，AI成为行业创新核心引擎，"算力-模型-应用-数据"飞轮的正循环已明确 形成，展望2025年下半年，生成式AI技术有望深化渗透，行业供给竞争格局改善及国产替代加速推 进，有望共同构筑半导体及元器件行业成长动能。 汇量科技(01860)盘中拉升逾12%，七月以来股价累计涨幅超1.2倍。截至发稿，涨12.02%，报15.75港 元，成交额4.99亿港元。 值得一提的是，此前，汇量科技宣布入选2025年《财富》东南亚500强(Fortune Southeast Asia 500)榜 单，位列第208位。AI与机器学习持续投入是推动汇量科技增长的核心动力。旗下程序化互动式广告平 台Mintegral作为公司核心增长引擎，在2024年表现尤为突出，收入达14.4亿美元，同 ...

Group 1 - Company stock price increased by over 12% during trading, with a cumulative increase of more than 120% since July, reaching 15.75 HKD with a trading volume of 499 million HKD [1] - The company plans to hold a board meeting on August 29 to consider and approve its interim results [1] - Applovin reported Q2 revenue of 1.259 billion USD, a 77% year-on-year increase, with net profit soaring 164% to 820 million USD, and adjusted EBITDA of 1.018 billion USD, up 99% [1] Group 2 - The company was listed as number 208 in the 2025 Fortune Southeast Asia 500 list, highlighting its growth potential [2] - Continuous investment in AI and machine learning is identified as the core driver of the company's growth [2] - The programmatic interactive advertising platform Mintegral is a key growth engine, projected to generate 1.44 billion USD in revenue for 2024, a 47.2% increase [2] - Mintegral's gaming revenue is expected to reach 1.04 billion USD, a 37% increase, while non-gaming revenue is projected at 403.3 million USD, with an 82% growth [2]

汇量科技(01860)涨超11%，截至发稿，涨11.46%，报11.67港元，成交额3.09亿港元。 消息面上，移动应用广告平台Applovin最新业绩显示，该公司二季度营收12.59亿美元，同比增长77%， 胜市场预期；纯利8.2亿美元，同比飙升164%；调整后EBITDA为10.18亿美元，同比增长99%；调整后 每股盈利2.39美元，优于市场预期的2.32美元。中信证券近期研报指出，生成式AI正将广告网络从"流量 竞争"推向"算法飞轮"时代。AppLovin AXON2.0、汇量科技Mintegral等独立平台凭算法壁垒穿越周期， 收入与分成率同步向上，并向电商、CTV等新场景外溢。预计未来五年程序化广告仍保持较高增长，头 部平台保持领先。 今年一季度，汇量科技程序化广告平台Mintegral表现亮眼，录得收入4.208亿美元，同比大幅增长 48.4%。汇量科技称，自2023年集团发展基于AI和机器学习的智能出价体系以来，包括Target ROAS在 内的智能竞价产品持续得到广告主认可，报告期内，智能出价产品贡献的收入占Mintegral总收入的比例 已超过80%，成为推动Mintegral收入和利润增 ...

智通财经APP获悉，汇量科技(01860)涨超11%，截至发稿，涨11.46%，报11.67港元，成交额3.09亿港 元。 消息面上，移动应用广告平台Applovin最新业绩显示，该公司二季度营收12.59亿美元，同比增长77%， 胜市场预期；纯利8.2亿美元，同比飙升164%；调整后EBITDA为10.18亿美元，同比增长99%；调整后 每股盈利2.39美元，优于市场预期的2.32美元。中信证券近期研报指出，生成式AI正将广告网络从"流 量竞争"推向"算法飞轮"时代。AppLovin AXON2.0、 汇量科技Mintegral等独立平台凭算法壁垒穿越周 期，收入与分成率同步向上，并向电商、CTV等新场景外溢。预计未来五年程序化广告仍保持较高增 长，头部平台保持领先。 今年一季度，汇量科技程序化广告平台Mintegral表现亮眼，录得收入4.208亿美元，同比大幅增长 48.4%。汇量科技称，自2023年集团发展基于AI和机器学习的智能出价体系以来，包括Target ROAS在 内的智能竞价产品持续得到广告主认可，报告期内，智能出价产品贡献的收入占Mintegral总收入的比例 已超过80%，成为推动Min ...

Group 1 - Company Meituan has been ranked 208th in the 2025 Fortune Southeast Asia 500 list, which highlights the highest revenue companies in Southeast Asia, reflecting strong financial performance in 2024 [1] - In 2024, Meituan achieved a total revenue of $1.51 billion, representing a year-on-year growth of 43.0%, with gross profit reaching $316.3 million, up 45.6% [1] - The adjusted EBITDA for 2024 was $138.3 million, marking a growth of 31.3% [1] Group 2 - The core driver of growth for Meituan is its continuous investment in AI and machine learning, with its programmatic interactive advertising platform Mintegral being a key growth engine [1] - Mintegral generated $1.44 billion in revenue in 2024, a 47.2% increase year-on-year, with smart bidding products contributing over 70% of total revenue [1] - The diversified vertical strategy has shown significant results, with Mintegral's gaming business revenue reaching $1.04 billion, a growth of 37.0%, while non-gaming revenue surged by 82.0% to $403.3 million [1][2] Group 3 - The CEO of Meituan emphasized the company's focus on transforming complex problems into growth opportunities in the rapidly evolving AI and advertising technology landscape [2] - The Fortune Southeast Asia 500 list showcases the economic vitality of the region, with the 500 companies generating a total revenue of $1.82 trillion [2]

Core Insights - The company, 汇量科技, reported strong financial performance for the three months ending March 31, 2025, with a significant revenue increase and enhanced profitability [1] - The Mintegral platform's revenue reached $420.8 million, reflecting a year-on-year growth of 48.4% [1] - Net profit for the company was $19.882 million, showing a remarkable year-on-year increase of 177.9% [1] Revenue Breakdown - The intelligent bidding products, including Target ROAS, contributed over 80% of Mintegral's total revenue, highlighting their role as a key growth driver [1] - The gaming category on the Mintegral platform generated $30.57 million in revenue, marking a substantial year-on-year growth of 50.7% [2] - Non-gaming categories also performed well, with revenue of $11.51 million, representing a year-on-year increase of 42.5% [2] Strategic Developments - The company has made significant investments in AI and machine learning for its bidding systems, which have been well-received by advertisers [1] - The optimization of advertising budget structures and a more balanced business layout have been achieved through the continuous enhancement of Mintegral's intelligent bidding capabilities [2]

Group 1 - The U.S. House of Representatives passed a significant tax and spending bill proposed by the Trump administration, which includes a controversial provision regarding AI regulation that prohibits states from enforcing any laws or regulations on AI models, AI systems, or automated decision-making systems for the next ten years [1] - The addition of the AI regulation clause sparked concerns within the tech industry about the future development and use of AI in the U.S., leading to a shift in reliance towards independent AI systems in other countries [1] Group 2 - Hong Kong-listed AI company, HuiLian Technology (01860), reported a strong revenue growth of 54.6% year-on-year in Q3 2024, achieving revenue of $416 million, primarily driven by its programmatic advertising platform, Mintegral, which generated $402 million, a 57.6% increase [2] - Another Hong Kong-listed AI firm, Fubo Group (03738), saw a 20% increase in revenue to HKD 2.4 billion in 2024, with gross profit rising 24% to HKD 1.1 billion and a gross margin improvement of 1.3 percentage points to 43.8%; adjusted net profit surged 380% to HKD 180 million, attributed to the expansion of U.S. operations and improved operational efficiency [2]

Group 1 - The company, 汇量科技 (01860), reported an annual revenue of $1.508 billion for the year ending December 31, 2024, representing a year-on-year growth of 43.0% [1] - Net income reached $399 million, showing a year-on-year increase of 40.4% [1] - Gross profit was $316 million, with a year-on-year growth of 45.6% [1] Group 2 - The core business, Mintegral, generated $1.443 billion in revenue for 2024, marking a 47.2% increase and accounting for approximately 95.7% of total revenue [1] - The intelligent bidding system based on machine learning and AI, launched in 2021, has significantly improved advertising budget efficiency for developers, contributing over 70% of Mintegral's total revenue in 2024 [1] - The gaming category maintained stable growth with revenue of $1.04 billion, up 37.0%, while non-gaming revenue surged to $403 million, reflecting an 82.0% increase and accounting for 27.9% of total revenue [1] Group 3 - Mintegral has assisted over 10,000 top developers and 100,000 leading applications globally in acquiring quality users, with daily ad requests exceeding 300 billion [2]

Core Viewpoint - The public fund star stock, HuiLiang Technology, experienced a dramatic 38% drop after announcing a potential sale of its core AI technology business, Mintegral, amid pressures from DeepSeek's open-source project and data security allegations against its US counterpart, AppLovin [1][4][10] Group 1: Stock Performance and Market Reaction - HuiLiang Technology achieved a tenfold increase in stock price over four months, largely driven by the performance of AppLovin, which saw a 60-fold increase over two years [1][2] - Following the announcement of the potential sale, investors who had followed fund managers into HuiLiang Technology faced significant pressure, anticipating a negative market reaction [1][2] - The stock's drop on February 27 was preceded by a 20% decline in AppLovin's stock, indicating a strong correlation between the two companies [6][10] Group 2: Business Operations and Market Context - HuiLiang Technology operates as an AI-driven programmatic advertising platform, providing solutions for user acquisition and traffic monetization [3][8] - The company has benefited from international expansion and has been a focus for A-share fund managers seeking investment opportunities in the AI sector [3][7] - The potential sale of Mintegral raises concerns about the company's core business, which is critical for its revenue, especially given that 45% of its total revenue comes from the European and American markets [10] Group 3: Regulatory Environment and Industry Challenges - New US regulations aimed at protecting personal data may impact HuiLiang Technology's operations, as the company acknowledges the potential effects of these changes on its business [5][10] - The scrutiny faced by AppLovin regarding data security and advertising practices could have ripple effects on HuiLiang Technology, given their similar business models [6][10] - The competitive landscape includes major players like META, Google, and ByteDance, indicating that HuiLiang Technology operates in a challenging environment with significant competition [8]