XtalPi Holdings (2228) H2 2024 earnings summary

Executive summary

• Achieved CNY 266 million in revenue for 2024, up 53% year-over-year, with accelerated growth in the second half reaching 73% year-over-year.

• Adjusted net loss narrowed to CNY 457 million, down 13% year-over-year, reflecting improved operational efficiency and cost control.

• Monthly average cash burn reduced by 23% to CNY 48 million, and cash balance increased by 10% to CNY 3,123 million at year-end.

• Customer base expanded from 75 in 2021 to over 280 in 2024, with significant global client growth and repeat business from leading pharma companies.

• Commercialization of AI and robotics solutions expanded into new materials, agriculture, and traditional Chinese medicine sectors.

Financial highlights

• Revenue reached CNY 266 million in 2024, a 53% increase year-over-year; second half growth accelerated to 73%.

• Adjusted net loss was CNY 457 million, down 13% year-over-year.

• Monthly average cash burn reduced by 23% to CNY 48 million.

• Cash and cash equivalents plus financial assets at FVTPL: CNY 3,123 million at year-end 2024, up 10% year-over-year.

• R&D expenses totaled CNY 480 million, focused on personnel, cloud computing, and material technologies.

Outlook and guidance

• Expects continued revenue growth and new business milestones in 2025, driven by global expansion and new verticals.

• Continued investment in AI-driven drug discovery and robotics, with expansion into new industries such as materials science and agriculture.

• Ongoing collaborations with global pharmaceutical and technology leaders to drive innovation and commercialization.

• Plans to deepen collaborations with leading pharma, materials, and consumer goods companies globally.

• Focus on scaling AI-powered robotics and data-driven platforms to maintain industry leadership.