Kunlun Wanwei: Net loss of 1.595 billion yuan in 2024, a turnaround from profit to loss on a year-on-year basis.

Kunlun Wanwei announcement, operating income in 2024 was 5.662 billion yuan, a year-on-year increase of 15.20%. The net loss in 2024 was 1.595 billion yuan, compared to a net profit of 1.258 billion yuan in the same period last year. Basic earnings per share were -1.3 yuan/share. The company plans not to distribute cash dividends, distribute bonus shares, or increase capital through the accumulation fund. Specifically, in order to consolidate the company's leading position in the AI field, research and development investment during the reporting period was further increased, and various short-term costs and related expenses generated had a certain impact on the profit performance of this period; on the other hand, the investment income performance was also lower than in the same period last year, with investment-related losses of 820 million yuan caused by fluctuations in the prices of financial assets. The combination of these two factors resulted in a loss in this reporting period.