Unisound AI Technology (9678) H1 2025 earnings summary

Executive summary

• Revenue grew 20.2% year-over-year to RMB404.97 million for H1 2025, driven by enhanced AI capabilities and deeper industry penetration.

• Gross profit increased 13.0% to RMB130.84 million, but gross margin declined to 32.3% due to higher hardware costs in integrated solutions.

• Loss for the period widened by 16.6% to RMB298.33 million, mainly due to increased administrative and finance costs.

• Adjusted net loss (non-IFRS) was RMB122.45 million, up 5.2% year-over-year, after adding back interest on redemption liabilities and listing expenses.

• Successful IPO on HKEX in June 2025 raised HK$236.94 million in net proceeds.

Financial highlights

• Revenue: RMB404.97 million (+20.2% YoY); Gross profit: RMB130.84 million (+13.0% YoY).

• Gross margin: 32.3% (down from 34.4% YoY).

• Loss for the period: RMB298.33 million (+16.6% YoY); Adjusted net loss: RMB122.45 million (+5.2% YoY).

• R&D expenses: RMB168.13 million, 41.5% of revenue.

• Cash and cash equivalents: RMB241.69 million as of June 30, 2025.

Outlook and guidance

• Focus on advancing general and expert-level large models, intelligent agents, and chip optimization.

• Plans to leverage industry knowledge, Atlas infrastructure, and data flywheel for sustainable competitive advantages.

• Proceeds from IPO to be used for R&D, emerging business opportunities, and working capital over the next five years.

• Expanding intelligent agent applications in healthcare, smart cockpits, and enterprise services.