Shenzhen Xunce Technology (3317) H2 2025 earnings summary

Executive summary

• FY2025 revenue rose 103.3% YoY to RMB1,284.66m, while reported net loss widened to RMB129.65m; adjusted net loss narrowed to RMB54.85m after excluding listing expenses.

• H2 revenue reached RMB1,086.81m vs RMB197.85m in H1; adjusted results swung from a RMB104.98m H1 loss to RMB50.13m H2 profit.

• Growth reflected accelerating enterprise AI data demand, broader industry deployment and higher revenue per customer; FY gross margin fell as product mix shifted and new-industry customers expanded.

Financial highlights

• Revenue was RMB1,284.66m, up 103.3% YoY; gross profit was RMB792.08m, up 63.4% YoY.

• Net loss was RMB129.65m vs RMB97.85m in 2024; loss attributable to parent owners was RMB94.06m vs RMB84.01m.

• Adjusted net loss, excluding Global Offering listing expenses, narrowed to RMB54.85m from RMB82.37m.

• Basic and diluted loss per share was RMB0.31 vs RMB0.28 in 2024.

Outlook and guidance

• 2026 strategy targets expansion into power, telecoms, urban management, manufacturing, healthcare, energy, robotics and commercial aerospace, alongside continued investment in frontier AI applications.

• Plans include exploring token-based billing and revenue sharing, overseas opportunities, and strategic partnerships with computing-power and algorithm providers.

• Management sees AI shifting toward inference and large-scale enterprise deployment, increasing demand for high-quality, structured, scenario-specific real-time data.