Bairong AI Earnings Call Transcripts
Fiscal Year 2025
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FY2025 revenue was CNY 2.92B, with positive reported and non-IFRS profit despite significant AI investment and policy pressure. MaaS grew 9%, while 2026 priorities center on converting AI-agent capabilities into scalable value.
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H1 revenue rose 22% to CNY 1.612bn, with 73% gross margin and CNY 254m adjusted net profit. BaaS cloud and MaaS grew, while insurance regulation and telecom restrictions pose H2 headwinds; guidance remains double-digit growth.
Fiscal Year 2024
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FY24 revenue rose 9% and adjusted net profit reached CNY 376m, while reported net profit declined. FY25 guidance targets double-digit revenue growth, with higher AI investment and near-term margin pressure expected.
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H1 revenue rose 6% to CNY 13.21bn, while adjusted net profit was CNY 197m. BaaS drove growth; management cited early recovery, continued AI investment and expansion into non-financial markets, alongside macro and insurance-sector risks.