CHENQI TECH recently announced its interim results for the first half of 2025. According to the announcement, the company achieved total revenue of RMB 1.676 billion in the first half, representing a year-on-year increase of 61.7%. Notably, CHENQI TECH recorded its first positive gross margin during the period.
The company's gross profit reached RMB 37.438 million in the first half, up 215.4% compared to the same period last year, with the gross margin reaching 2.2%.
During the reporting period, CHENQI TECH's two core business segments—mobility services and technology services—both achieved growth. Mobility services, which include ride-hailing and Robotaxi services, contributed RMB 1.636 billion in revenue for the first half, representing an 86% year-on-year increase. Technology services, encompassing AI data and model solutions as well as high-definition mapping, saw revenue growth of 207% year-on-year.
The interim report shows that CHENQI TECH achieved a breakthrough in profitability, with gross profit-related indicators turning positive for the first time in the first half. The company's gross profit totaled RMB 37.438 million, up 215.4% year-on-year, while the gross margin improved significantly from -3.1% in the same period last year to 2.2% in the current period, representing an improvement of 170.97 percentage points and achieving positive territory for the first time.
CHENQI TECH attributed the overall gross margin improvement to increased user traffic driving higher order volumes, optimization of customer incentive measures and driver cost structure, and strengthened driver confidence in the platform, despite intensified competition in China's mobility services market.
The report shows that while recording substantial growth in both order volume and revenue with positive gross margin in the first half, CHENQI TECH also achieved significant cost reductions across multiple categories. Total orders increased to 73.3 million in the first half, up 51.13% year-on-year, driving transaction volume growth to RMB 2.032 billion, up 56.83% year-on-year. Meanwhile, sales and marketing expenses, finance costs, and other related costs decreased substantially during the reporting period, with finance costs dropping 43.4% year-on-year, and general administrative expenses and sales and marketing expenses both declining by over 20%.
Regarding the Robotaxi business, the announcement disclosed that the company has invested over HK$137 million in autonomous driving and Robotaxi operational service R&D activities since its listing, with plans to invest an additional HK$256 million from 2026 onwards. According to official information from CHENQI TECH, as of June 30 this year, the platform operated over 300 Robotaxi vehicles, with services covering core areas of the Greater Bay Area. First-half order volume grew by over 470% year-on-year, while monthly active users increased by over 70% year-on-year.
In July this year, CHENQI TECH announced the launch of its "Robotaxi+" strategy, establishing an open "Robotaxi+" platform that welcomes all Robotaxi services meeting local regulatory standards to operate on the platform. The company plans to expand Robotaxi operations to 100 core cities over the next five years, partnering with autonomous driving companies, fleet operators, and other partners to build a Robotaxi fleet exceeding 10,000 vehicles.