博睿数据20260210

Summary of the Conference Call for 博睿数据 Company Overview - Company: 博睿数据 (Bori Data) - Industry: AI-driven monitoring services and data collection Key Points and Arguments 1. New Revenue Streams: In 2026, 博睿数据 will focus on two new billing modules: AI Agent billing and AI system observability billing, marking a shift towards AI-driven monitoring services, which is expected to significantly increase revenue sources [2][5][20] 2. Partnership with 火山引擎: The company has restarted its collaboration with 火山引擎 (Volcano Engine) to integrate third-party soft probes into its platform and plans to host cloud broadcast measurement data, enhancing its AI capabilities and market competitiveness [2][7] 3. Billing Model: 博睿数据 charges based on hardware assets (CPU core count), daily active users, and data volume. For example, an 8-core CPU server subscription costs approximately 200 RMB per year, while a dual CPU server costs 3,200 RMB [2][6][9] 4. Data Collection Business: The company emphasizes the importance of real-time monitoring and measurement during the operational phase to help clients manage unpredictable peak access and improve testing efficiency, particularly for clients in sectors like banking [2][13] 5. Client Collaborations: 博睿数据 is collaborating with major companies like 字节跳动 (ByteDance) and 华为 (Huawei), with expectations of gradual service adoption. For instance, revenue from Huawei is projected to be around 10 million RMB in 2025, indicating growth potential with ByteDance [2][14] 6. AI Project Demand: There has been a surge in inquiries regarding AI Agent solutions since Q4 2025, with 博睿数据 winning an AI Agent project that includes observability control for traditional systems [4][5] 7. Market Dynamics: The domestic HMM (Hybrid Monitoring Management) market is primarily occupied by local manufacturers, with foreign companies gradually exiting. This trend favors domestic companies like 博睿数据, providing opportunities to expand market share [4][21][22] 8. Future Expectations: 博睿数据 anticipates continued expansion into the Middle East and Central Asia in 2026, aiming to enhance performance through subscription revenue models and new growth points from AI-related billing and collaborations with major firms [20] Additional Important Information 1. APM Tool Demand: The explosion of agent demand is seen as a positive driver for the company's APM (Application Performance Management) tools, necessitating a better understanding of token consumption to optimize efficiency [3] 2. Server Market Estimation: The company estimates server market size based on the number of servers and CPU core counts, with specific pricing models for different configurations [9][15] 3. Technical Services on 火山引擎: 博睿数据 provides technical services on 火山引擎, supporting various programming languages and allowing developers to integrate probes easily [10][11] 4. Collaboration with PE Fund: After transferring to a PE fund, 博睿数据 expects synergistic effects, leveraging the fund's industry investment experience to attract large clients and increase revenue [19]