MetaLight (2605) investor relations material

Executive summary

• H1 revenue was RMB92.005m, down 5.1% YoY; IFRS net loss narrowed to RMB5.032m from RMB125.505m.

• Adjusted net profit fell 53.6% to RMB13.086m, with phased organisational optimisation severance costs contributing to the decline.

• Chelaile covered 484 cities and towns, with 32.0m average monthly active users, up 6% YoY; operations focused on user experience and more efficient monetisation.

Financial highlights

• Revenue was RMB92.005m versus RMB96.973m; gross profit was RMB68.677m versus RMB75.684m.

• Cost of sales rose to RMB23.3m from RMB21.3m, primarily due to higher cross-network advertising fees; gross margin fell to 74.6% from 78.1%.

• Net loss narrowed mainly because prior-year fair-value losses on convertible redeemable preferred shares and listing expenses did not recur.

• Adjusted net profit was RMB13.086m versus RMB28.183m; H1 2026 adjustment items included RMB5.0m in external donations and RMB12.1m in share-based payment expense.

• R&D expenses rose RMB3.2m to RMB24.8m; administrative expenses fell to RMB30.4m from RMB38.0m, mainly as prior-year listing expenses did not recur.

Outlook and guidance

• H2 priorities include consolidating Chelaile’s user base, improving advertising monetisation efficiency and client mix, and growing data technology services prudently.

• Advertising inventory pricing and delivery accuracy will be optimised using AI algorithms; plans include expanding programmatic partners and cultivating long-tail advertisers.

• Transit Now, Robobus development and the AI fund will progress in stages, subject to validation, delivery resources, regulation, agreements and commercial viability.

• Broader AI product rollout depends on verifiable and repeatable results in accuracy, stability, user experience and resource use.