Thunder Software Technology (300496) Q4 2025 earnings summary

Executive summary

• Revenue reached ¥7.78 billion in 2025, up 44.45% year-over-year, with net profit attributable to shareholders at ¥450.14 million, up 10.47% year-over-year.

• Core growth driven by AIOS platform, with significant expansion in smart IoT and overseas markets.

• Smart IoT revenue surged 133.26% year-over-year, while overseas revenue grew 81.57%.

• Net profit margin improvement mainly due to higher gross margin in IoT and cost control.

Financial highlights

• Operating income: ¥7.78 billion, up 44.45% year-over-year.

• Net profit attributable to shareholders: ¥450.14 million, up 10.47% year-over-year.

• Gross margin: 31.67%, down 2.62 percentage points year-over-year.

• Basic EPS: ¥0.9792; diluted EPS: ¥0.9735.

• Net assets: ¥10.34 billion, up 5.79% from previous year-end.

• Operating cash flow: ¥679.70 million, down 9.74% year-over-year.

Outlook and guidance

• Strategic focus on AIOS and AI Agent, aiming to lead in AI-native operating systems and industry AI.

• Continued investment in R&D and global expansion, with emphasis on automotive, IoT, and robotics.

• Anticipates further growth in AI-driven products and international markets.