Analyze Weimob (02013) 2025 Annual Report: First disclosure of AI annual revenue, overall business fundamentals improve significantly.

On March 17th, WEIMOB INC (02013) released its 2025 annual report, with a total revenue of 1.592 billion RMB, representing an 18.9% increase compared to the same period last year. It is worth noting that WEIMOB disclosed for the first time that AI-related annual revenue reached 116 million RMB. During the reporting period, WEIMOB's gross profit reached 1.195 billion RMB, a year-on-year increase of 100.4%; the gross profit margin increased from 44.5% to 75.1%, achieving high-quality business development. Adjusted EBITA was 155 million RMB, a significant improvement of 143.7% from the previous year's loss; adjusted net profit was 42 million RMB, achieving annual profitability for the first time since 2021; operating cash flow also achieved annual positive growth for the first time since listing, continuously optimizing the financial fundamentals. In 2025, WEIMOB's core business continued to develop steadily and healthily. Subscription solution revenue was 897 million RMB, a slight decrease of 2.3% year-on-year, mainly due to the voluntary reduction of low-quality businesses in the second half of 2024, resulting in a decrease in the number of merchants and deferred revenue. With a focus on business and the increase in AI-related revenue, revenue in the second half of the year stabilized and rebounded year-on-year and quarter-on-quarter. Among them, smart retail revenue was approximately 598 million RMB, with a 9.5% increase in revenue in the second half of the year compared to the first half, accounting for 67% of subscription solution revenue. Business solution revenue was approximately 695 million RMB, a year-on-year increase of 65.1%; gross profit was 631 million RMB, a year-on-year increase of 137.7%, with a gross profit margin increasing from 63.1% to 90.9%. 2025 was a key year for WEIMOB's comprehensive integration of AI technology into business scenarios. Under the guidance of the "All in AI" strategy, WEIMOB's AI product matrix deepened continuously, with significant acceleration in the commercialization process of AI application products such as WAI, WAI Pro, and WIME. The full-year AI-related revenue achieved unprecedented growth. During the year, WEIMOB successfully obtained 200 million USD in financing from international long-term investment institutions, injecting strong momentum into the deep research and international layout of AI technology. WEIMOB's MSCI ESG rating was upgraded to A, marking the recognition of the company's practices in governance, data security, and green low-carbon aspects by the international capital market. AI revenue exceeding one billion for the first time: driving business health and long-term value imagination In the 2025 annual report, WEIMOB disclosed for the first time that the annual revenue related to AI reached 116 million RMB, with revenue of 82 million RMB in the second half of the year, representing a 137.5% increase over the first half. With the optimization of products and the continuous launch of new products, it is expected to maintain high-speed growth. Under the guidance of the "All in AI" strategy, the group's AI product matrix continues to deepen, further launching the all-in-one intelligent office platform AI Work365 based on the AI products targeting small and micro e-commerce practitioners WIME and the AI custom solution for enterprise clients WAI Pro. During the reporting period, the product iteration and commercialization of WEIMOB's WAI accelerated, reconstructing merchant workflows through AI Agent technology. Its capabilities systematically cover intelligent efficiency, intelligent operation and decision-making, and interactive experience, greatly enhancing the business depth and customer stickiness. Throughout 2025, the average monthly active merchants using WAI increased by 66.7% year-on-year, the usage of core functions increased by 77.8% compared to 2024, and the number of new merchants using WAI in building stores increased by 146.6% year-on-year. WIME, as a lightweight AI store building tool, entered into WeChat mini program stores and Xiaohongshu ecosystem, with over 510,000 cumulative users and an active user quantity increasing by 442.7% compared to 2024. WEIMOB's AI layout continues to deepen, extending from "AI + SaaS" to "AI + going global" and "AI + marketing," while exploring the innovative field of AI + intelligent hardware. In September 2025, WEIMOB strategically invested in the North American AI innovation company Genstore.ai, establishing the "WEIMOB going global" business unit. In January 2026, the "WEIMOB Star Launch GEO Solution" was released, covering various industries such as consumables, digital home appliances, business services, software applications, etc., to help businesses occupy key marketing positions in the AI search era. SaaS strategy focusing showing effective stabilization and rebound, while major clients steadily accelerate penetration into the local life industry In 2025, WEIMOB made significant progress in improving income quality, product innovation, and deepening industry solutions by deepening AI technology integration, optimizing customer structure, and expanding across various ecosystems. Since the voluntary reduction of low-quality businesses in the second half of 2024 led to a decrease in the number of merchants and deferred revenue, subscription solution revenue decreased slightly year-on-year during the reporting period. However, with a focus on business and the increase in AI-related revenue, it has stabilized and rebounded. The number of paid.subscription solution merchants reached 58,396, with an average revenue per user of 15,367 RMB increasing by 5.3% year-on-year; smart retail merchants reached 7,699, with 1,205 brand merchants, and the average order revenue of brand merchants was around 183,000 RMB. During the reporting period, integrated solutions such as "Retail + Enterprise Micro" and "Retail + Enterprise Micro + Membership" were increasingly recognized by customers, with GMV of smart retail customers increasing by 10% year-on-year and GMV account numbers exceeding 100 million growing by 30% year-on-year. There was a rising trend in cooperation among group companies with multiple brands and business lines, with the number of customers utilizing multiple accounts growing by 7% year-on-year and the income derived from multiple accounts growing by 31%. In 2025, WEIMOB firmly focused on the local life industry, concentrating on the three main entry points of local life: integrating with Douyin group-buying vouchers for merchant verification to help merchants capture platform traffic; linking up with Meituan group-buying voucher system to expand online traffic channels for merchants; and collaborating with Taobao Flash Buy in instant retail, digital marketing, and technological innovation. WEIMOB also systematically strengthened the middle-tier business capabilities of subscription solutions, enabling comprehensive access of orders and members from public and private domains and mainstream operating channels to the SaaS middle-tier, and integrating the rights and verification management of mainstream voucher distribution channels into the SaaS Voucher Center. With the strengthened middle-tier business, both order and member business achieved steady positive growth year-on-year: merchant POS, WeChat mini store, and Taobao Tian orders increased by 56.26%, 901%, and 78% respectively year-on-year; Alipay's Tap to Pay membership increased by 2659%. The AI Agent matrix has been integrated into key retail e-commerce scenarios during daily operations and major promotional periods. During the Singles' Day sales period, merchants using AI shopping guides saw a 30% increase in sales. In the retail clothing industry, menswear brand Qipai achieved great success during the 2025 Singles' Day period by deploying WAI shopping guide intelligently, automatically reaching and operating high-value customers, contributing to over 70% of GMV in its mini-program store and becoming a core driver of performance growth. In the pet consumption industry, WEIMOB's pet industry solution deeply integrated with WAI helped Huayuan Pets quickly upgrade the online store visually and intelligently recommend products, resulting in a doubling of member transaction amounts year-on-year. Furthermore, to address the high return rate of online fashion brands, WEIMOB launched an AI fitting feature, utilizing Alibaba's Ask on Modeling technology and self-developed technology to provide real try-on effects and intelligent outfit recommendations, effectively increasing order decision conversion rates and reducing return rates. Consolidating marketing advantages across all channels: gross profit margin increased to 90.9% Adhering to the "scientific-driven overall operation" concept, WEIMOB consolidated its market position as a "premium service partner" by optimizing customer structure, deepening platform eco-cooperation, and enhancing AI technology empowerment, achieving significant improvements in revenue quality and continuous profitability enhancement. The WEIMOB merchant solution helped businesses post approximately 16.69 billion RMB in advertising revenue, with an average spending per paying user of 247,174 RMB, a year-on-year decrease of 8.5%. By adjusting the customer structure proactively, WEIMOB no longer served some low-margin, high-fronted or long-settled customers, leading to a slight decline in gross revenue, but improving operational efficiency and far surpassing revenue growth in gross margin. With operating cash flow turning positive, financial health was ensured. WEIMOB continued to advance the "AI + Marketing" strategy in 2025, extensively applying AI technology in marketing across all scenarios, significantly improving creative efficiency. Through AI content compliance models that automatically identify illegal materials, risk control was iterated and enhanced, visual AI reports were automatically generated through AI technology to drive data-driven decisions. With AI product-assisted creation accounting for over 60%, the efficiency of content generation increased by over 45% on average, with a utilization rate of over 70%. Applying AI technology in content creation, advertising optimization, content risk control, and data reporting, WEIMOB has interconnected capabilities across the entire chain from operational efficiency to content production, risk control compliance, and knowledge accumulation, achieving cost reduction and efficiency enhancement alongside enlarging creative capabilities. WEIMOB continued to consolidate its leading position in the Tencent channel. During the reporting period, merchants' advertising consumption on the Video Number platform increased by 29% year-on-year. It received important awards such as the Tencent Advertising "Strategic Cooperation Award," with a total of 25 awards throughout the year, covering various industries such as leisure drinks, consumables, daily essentials, and health. In addition, WEIMOB actively expanded into platforms such as Douyin, Xiaohongshu, Kuaishou, Alipay, Huawei HarmonyOS, etc., expanding market share. During the reporting period, WEIMOB officially cooperated with Tencent's Quantum Engine under the Douyin group, obtained the Quantum Thousand Rivers Service Provider license, and became its comprehensive advertising agency. Further deepening the cooperation with Kuaishou Magnetic Engine, WEIMOB was recognized as the "Annual Top Ten Benchmark Partner." As a core partner of Alipay advertising, WEIMOB's advertising consumption on Alipay increased by over 50 times year-on-year, emphasizing the eco-cooperation with Xianyu platform, obtaining the "Xianyu Super Bright Agent Service Provider" qualification, unlocking a gateway to 600 million young users for merchants. WEIMOB delved deeper into the Xiaohongshu ecosystem, becoming the official agent in four major regions: Shanghai, Jiangsu, Zhejiang, and Chongqing, perfecting the "content seeding + conversion" service system, with platform consumption on Xiaohongshu growing by 112% year-on-year. With a comprehensive service capability in food and beverage, education and training, and internet trading platforms, WEIMOB was selected for the Xiaohongshu "Preferred Service Partner List" and received recognition in the "Cosmetics & Personal Care" and "Maternity" tracks. Business Outlook Looking ahead, WEIMOB stated that in 2026, it will firmly drive the dual strategic engines of "All in AI" and "WEIMOB going global" to reshape its business model and drive value growth. On the one hand, continuing to iterate and enrich the AI product matrix while actively exploring AI strategies in various B2B, B2C, and global spheres. On the other hand, WEIMOB will closely follow the forefront of AI technology, embracing the technological advancements and business layouts in the AI field by ecosystems such as Tencent (especially the WeChat ecosystem) and Alibaba, and deeply integrating eco-collaboration for industrialization application innovation. Simultaneously, WEIMOB will continue to deepen its presence in the WeChat e-commerce ecosystem, seize new growth opportunities, expand its presence across multiple channels, and tap into the business potential of local life. Additionally, WEIMOB will focus on international business expansion, providing brand internationalization services such as AI-based website construction and marketing automation by integrating Genstore.ai's capabilities, offering a full-service solution from official website construction to advertising and social media marketing for brand promotion, further deepening international layouts.