Marketingforce Management (2556) investor relations material

Executive summary

• Achieved strategic transformation to an AI-native application platform, integrating scenario, data, platform, and model layers.

• Total revenue grew 80.8% year-over-year to RMB2.82 billion, with AI application business and precision marketing services both posting strong gains.

• Adjusted net profit reached RMB151.5 million, up 91.3% year-over-year, marking a turnaround from a significant loss in 2024.

• International expansion advanced with subsidiaries established in Hong Kong, the US, and Singapore, and direct service to local overseas clients.

• No final dividend recommended for 2025; focus remains on reinvestment and capital efficiency.

Financial highlights

• Revenue: RMB2,818 million in 2025, up from RMB1,558.6 million in 2024 (80.8% increase).

• Gross profit: RMB1,184.1 million, up 43.4% year-over-year; gross margin declined to 42.0% from 53.0%.

• Adjusted net profit: RMB151.5 million, up from RMB79.2 million in 2024.

• Net profit: RMB73.3 million, compared to a net loss of RMB876.7 million in 2024.

• Free cash outflow: RMB687.9 million, compared to RMB127.9 million inflow in 2024.

• Gearing ratio improved to 63.5% from 78.4% in 2024.

Outlook and guidance

• Plans to deepen AI application commercialization, expand industry template library, and accelerate international market penetration in 2026.

• Focus on high-quality growth, performance-based billing, and long-term customer contracts.

• Intends to fully utilize proceeds from recent share placings by end of 2026 for AI R&D, M&A, global expansion, and working capital.