Beijing Haizhi Technology (2706) Q4 2025 earnings summary

Executive summary

• FY2025 revenue rose 23.4% YoY to RMB621.1m; gross profit increased 47.5% to RMB269.0m, while IFRS loss widened to RMB205.3m. Adjusted net profit grew 42.6% to RMB24.1m.

• Customers served reached 212, up 24.0% YoY; Atlas AI Agent revenue grew 68.4% to RMB145.7m and emerged as a second growth engine.

• Overall gross margin improved 7.0 percentage points to 43.3%, supported by fulfillment efficiency, cost-structure optimization and a larger contribution from higher-margin AI Agent solutions.

Financial highlights

• Revenue was RMB621.1m versus RMB503.1m in 2024; gross profit was RMB269.0m versus RMB182.4m.

• Operating loss was RMB57.3m, compared with operating profit of RMB3.3m in 2024; net loss widened to RMB205.3m from RMB93.7m.

• Adjusted net profit, excluding share-based payments, fair-value changes, redemption-liability changes and listing expenses, was RMB24.1m versus RMB16.9m.

• Basic and diluted loss per share were both RMB0.58, compared with RMB0.29 in 2024.

Outlook and guidance

• Plans include greater R&D investment in graph computing and graph-LLM integration, plus deeper strategic collaboration with leading LLM vendors such as Zhipu AI.

• Priorities include developing dynamic industry world models and extending solutions from finance and energy into aerospace, automotive, healthcare and intelligent mining.

• The strategy targets Southeast Asia and other overseas markets, alongside secure AI governance with permission controls, traceable decisions and compliance guardrails.