Since 2026, the narrative that "AI will replace software," driven by the rise of AI Agents, has sparked concerns in the capital markets regarding traditional software business models. This has led to a phase of market disfavor towards software stocks. However, amidst this climate of skepticism, WEIMOB INC, steadfastly advancing its "ALL in AI" strategic transformation, has presented a solid annual performance report. This demonstrates a clear path and strong resilience in its successful evolution from a tool-based service provider to an AI-driven intelligent commercial solutions platform.
On March 17, WEIMOB INC released its 2025 annual financial report. The data shows that the company's revenue for the reporting period was RMB 1.592 billion, a year-on-year increase of 18.9%. Its adjusted net profit turned profitable, recording RMB 42 million, compared to a loss of RMB 510 million in 2024. This marks WEIMOB INC's first annual profit turnaround since 2021. Concurrently, 2025 also saw WEIMOB INC achieve positive operating cash flow for the first time since its listing, indicating a fundamental improvement in the company's financial health.
Looking at the second-half performance, WEIMOB INC's growth momentum was particularly strong: revenue reached RMB 817 million, surging 73.1% year-on-year; adjusted net profit was RMB 25 million, compared to a loss of RMB 487 million in the same period of 2024. Clearly, WEIMOB INC's performance accelerated in the second half, with high-speed revenue growth and a significant turnaround to profitability, putting the company's development back on a stable and positive track.
Notably, WEIMOB INC disclosed AI commercialization revenue for the first time in its annual report, reaching RMB 116 million. AI revenue in the second half was RMB 82 million, 237.5% of the first-half figure, representing a quarter-on-quarter increase of 137.5%, indicating sustained acceleration in the company's AI commercialization.
The continuous improvement in financial fundamentals, coupled with significant breakthroughs in AI commercialization, jointly validate the commercial success of WEIMOB INC's "AI+SaaS" strategy. It has demonstrated to the market its ability to deeply integrate AI into its product core and, based on profound industry understanding, create deep "AI + Scenario" solutions, thereby building professional barriers difficult to replace by generic technology.
The market responded positively. On March 18, buoyed by the strong financial results, WEIMOB INC's stock price surged nearly 7% on heavy volume. This further indicates that in the new cycle where AI is reconstructing software industry value, the evolutionary capability and growth path demonstrated by WEIMOB INC are beginning to gain market recognition, and its value warrants re-evaluation.
With the rapid iteration of AI technology, its impact on the software industry has shown distinctly different phase characteristics within a short period. Marked by the popularization of large models, the era of "AI democratization" arrived in early 2025, with the market widely expecting AI to be the core engine driving the SaaS industry into a new "golden decade." However, entering 2026, key breakthroughs in AI Agent technology caused a sudden shift in market expectations. The emergence of "agents" capable of autonomously operating software sparked concerns that "users will no longer need to use software directly," fundamentally impacting the user-seat-based SaaS business model and triggering a collective sell-off in the software sector.
This sharp transition from "empowerment consensus" to "substitution concerns" represents the inevitable growing pains as the software industry transitions from being "software-defined" to "intelligence-defined." It signifies that the old valuation system centered on license counts and user scale is disintegrating, while a new value logic revolving around "intelligence density," "scenario integration," and "ecosystem positioning" is rapidly forming.
This is also validated at the industry level. Data shows that in 2025, growth in general-purpose tool software slowed, whereas deep integration of software and AI created significant value in areas with complex business processes and deep know-how (such as manufacturing, healthcare, finance). Manufacturing SaaS growth exceeded 35%, while healthcare and financial SaaS growth also reached over 25%.
Unlike the speculative sentiment in the market swaying over the "AI+SaaS" concept, WEIMOB INC, closely following global AI technology trends since October 2022, firmly believes that the combination of AI and SaaS will usher in a new era of development for the software industry. Therefore, under the guidance of its "ALL in AI" strategy, the company has continuously deepened its AI product matrix. From launching the basic AI assistant WAI in 2023, to introducing WAI Pro for the enterprise market and WIME for small e-commerce merchants in 2024, to deploying the intelligent office platform AIWork365 in early 2025, and releasing the StarGEO product in early 2026 to address changes in the AI search ecosystem—this product is currently in high demand with continuously improving delivery capabilities. This process fully outlines its strategic deepening trajectory from "tool empowerment" to "scenario cultivation," and then to "ecosystem positioning."
To date, WEIMOB INC has achieved a comprehensive AI layout from To B to To C, covering multiple dimensions including AI+SaaS, AI+marketing, enterprise-grade customized AI solutions, and personal e-commerce tools. Its AI products have demonstrated strong capabilities in practical applications, helping SMEs, brand merchants, and individual e-commerce sellers improve efficiency and optimize operations.
Notably, based on the deep application of over 10 large models, WEIMOB INC has successfully built a matrix of 15 major AI Agents, covering 58 business scenarios from store setup to private domain operations, capable of building intelligent teams for various business scenarios for enterprises.
On this solid foundation, during the reporting period, WAI, embedded within WEIMOB INC's SaaS offerings, accelerated continuously in both product iteration and commercialization. By reconstructing merchant workflows using AI Agent technology, its capabilities systematically cover three major dimensions: intelligent efficiency improvement, intelligent operations and decision-making, and interactive experience, greatly enhancing business depth and customer stickiness. For the full year 2025, the average monthly active merchant count for WAI increased 66.7% year-on-year, core feature usage frequency rose 77.8% compared to 2024, and the number of merchants using WAI to build stores during the new customer delivery period increased 146.6% year-on-year. WIME, as a lightweight AI store-building tool, entered the WeChat Mini Store and Xiaohongshu ecosystems, accumulating over 510,000 users, with active user volume surging 442.73% compared to 2024.
Benefiting from the continuous deepening of the AI product matrix and its deep integration with business scenarios, WEIMOB INC's AI-related revenue achieved robust growth, reaching RMB 116 million for the full year. Second-half revenue was RMB 82 million, 237.5% of first-half revenue, with a quarter-on-quarter growth of 137.5%, showing an accelerating development trend.
While promoting the comprehensive integration of AI and business, WEIMOB INC is also accelerating its AI innovation layout. During the reporting period, the company strategically invested in the North American AI innovator Genstore.ai and formally established the "WEIMOB Global" business unit, systematically exploring new paths for "AI + Global Expansion." Unlike previous fragmented services for existing clients, this upgrade marks the entry of the global expansion business into an independent, strategic operation phase. WEIMOB INC emphasizes that its global strategy is not simply about traffic agency but leverages AI and agent technology to enhance enterprise efficiency in content generation, SEO optimization, marketing automation, etc., aiming to reduce the cost of brand globalization and accelerate local market penetration. The market expects that with systematic promotion, WEIMOB INC's global business may experience explosive growth.
Furthermore, the company has begun exploring innovative directions such as "AI + Smart Hardware." With continuous optimization of existing products and the sequential launch of new categories, WEIMOB INC's AI business is expected to maintain rapid growth, further consolidating its position as an engine for intelligent enterprise growth.
Facing the current market hype around certain consumer-facing AI products, WEIMOB INC is adopting a differentiated layout strategy. In WEIMOB INC's view, such products primarily target individual users and suit low-frequency, high-error-tolerance scenarios. However, for SaaS merchants, operational decision-making allows little room for error, requiring high precision and reliability, making them unsuitable. Instead, WEIMOB INC, drawing inspiration from the concepts, has chosen an evolution direction more aligned with commercial essence: focusing on developing a hybrid interaction model of "intelligent planning + key confirmation." Under this path, the AI autonomously handles standardized parts (e.g., auto-filling parameters), while leaving key decision points for user selection and confirmation. This achieves significant efficiency gains while ensuring process control and cost control, providing merchants with operational tools that combine intelligence and certainty.
While firmly advancing the "All in AI" strategy and fully embracing the new wave of intelligent commerce, WEIMOB INC has not neglected the foundation of enterprise survival and development. Its AI-driven innovation exploration and its robust business fundamentals are not a zero-sum game but form a powerful synergistic effect.
On one hand, the company accelerates penetration with its diverse AI product matrix, seizing industrial opportunities in the AI Agent era. On the other hand, core SaaS subscription and merchant solution revenue continues to grow, operational efficiency improves significantly, achieving the first annual profit turnaround since 2021. This dual drive of "innovation leadership" and "foundation strengthening" is building WEIMOB INC's unique resilience to navigate cycles and achieve sustained growth in a rapidly changing market.
During the reporting period, WEIMOB INC's Subscription Solutions business adhered to the strategic direction of "AI-driven, quality and efficiency enhancement." Through deep integration of AI technology, optimization of customer structure, and expansion of multi-ecosystem collaboration, it made significant progress in revenue quality improvement, product innovation, and deepening industry solutions. Among these, the AI Agent matrix has been integrated into key retail e-commerce scenarios during daily operations and major promotional events like holiday sales. Through deep empowerment via products like WAI Intelligent Shopping Guide and AI Fitting Room, WEIMOB INC successfully helped merchants in industries like apparel and pet supplies achieve growth. For instance, during the Double Eleven period, AI contributed over 70% of the GMV for Septwolves' mini-program, and Huayuan Pet saw member transaction volume double, with AI technology tangibly enhancing operational efficiency and conversion.
Simultaneously, the company continued to broaden ecosystem partnerships and deepen industry focus. On one hand, it deepened collaboration with major platforms like WeChat, Douyin, and Alipay to build omnichannel operational capabilities, and strategically deployed in multiple scenarios like WeChat Mini Stores and local services. On the other hand, it upgraded solutions for industries like smart retail and pet supplies, strengthening integrated "Retail + Enterprise WeChat" services to help merchants achieve online-offline integration and high-quality growth.
Although Subscription Solutions revenue experienced a slight year-on-year decline in 2025, primarily due to the proactive scaling back of low-quality business in the second half of 2024, this business stabilized and recovered in the second half of 2025 as focus intensified and AI contributions increased. Relevant indicators confirm this trend: In 2025, the number of paying merchants for Subscription Solutions reached 58,396, with Average Revenue Per User increasing 5.3% year-on-year to RMB 15,367; the number of Smart Retail merchants reached 7,699, including 1,205 brand merchants, with brand merchant Average Order Revenue Per User being approximately RMB 183,000, demonstrating the steady effectiveness of the key account strategy.
In the Merchant Solutions business, throughout 2025, WEIMOB INC upheld the philosophy of "Science-Driven Omnichannel Operations." By optimizing customer structure, deepening platform ecosystem cooperation, and strengthening AI technology empowerment, it consolidated its market position as a "High-Quality Service Partner," achieving significant improvement in revenue quality and continuous enhancement of profitability.
During the reporting period, WEIMOB INC持续推进 its "AI + Marketing" strategy, deeply applying AI technology across the entire marketing chain. In areas like content creation, ad placement optimization, risk control & compliance, and data reporting, AI not only significantly improved creation efficiency, automatically identified non-compliant materials, and iterated risk control models but also generated visual reports, thereby linking capabilities across operational efficiency, content production, and knowledge沉淀. This achieved cost reduction and efficiency gains while continuously amplifying content creativity.
Concurrently, while continuing to consolidate its leading position in Tencent channels, WEIMOB INC accelerated its multi-platform strategy, achieving important progress: the company formally partnered with Douyin's Jùliàng Engine, obtaining Jùliàng Qiānchuān service provider certification; it became a core partner for Alipay advertising and partnered with Xianyu, unlocking younger user traffic; WEIMOB INC continued to deepen its presence on Xiaohongshu, becoming an official agent in multiple regions, perfecting its "Content + Conversion" service system; and it deepened cooperation with Kuaishou's Cilì Engine, being recognized as a "Top Ten Annual Benchmark Partner."
In 2025, WEIMOB INC's Merchant Solutions helped merchants achieve gross advertising revenue of approximately RMB 16.69 billion. The average spending per paying user was approximately RMB 247,200, down 8.5% year-on-year. This was mainly due to the company's proactive optimization of its customer structure, which, while impacting gross revenue scale in the short term, significantly enhanced operational efficiency. Meanwhile, driven by "AI + Marketing," Merchant Solutions revenue reached RMB 690 million, a year-on-year increase of 65.1%; gross profit surged to RMB 631 million, a sharp increase of 137.7% year-on-year, and the gross profit margin climbed from 63.1% to 90.9%. The strong growth in profitability contributed to the company's operating cash flow turning positive, further solidifying the foundation of financial health.
The market often swings between "excessive optimism" and "excessive pessimism," and such extreme sentiment frequently leads to a dislocation between price and value. When the market becomes overly pessimistic about quality assets, it usually implies a greater margin of safety and potential for future returns.
AI Agents indeed bring a series of challenges to the SaaS industry, including narrowing overall industry profit margins, pressure on customer software budgets, and lowered barriers to in-house development. This explains the previous market's "indiscriminate selling" of the SaaS sector, essentially a valuation adjustment based on anticipated negatives.
However, the core capabilities of Agents are built upon mature software architectures, high-quality data, and clear permission systems. Their value primarily lies in enhancing automation levels and process management efficiency, not in bypassing or replacing SaaS software itself.
Presently, the investment logic for software stocks is gradually shifting from the earlier phase of "indiscriminate selling" to "structural revaluation." This is because, after the previous decline, a new consensus is beginning to form in the market regarding the future development trends of SaaS.
Stephen Bersey, Head of US Technology Research at HSBC, recently published a report titled "Software Will Eat AI," arguing that the market's panic is a misjudgment. He posits that software will be the primary mechanism for AI diffusion within the world's largest enterprises, and 2026 will be the year software monetization kicks off. Despite the industry poised for massive expansion, sector valuations are at historical lows, highlighting their investment value.
NVIDIA's CEO Jensen Huang recently stated plainly in an interview that the market guessed wrong, and vertical SaaS will be the true winners in the AI era.
CITIC Securities also pointed out that software companies possessing advantages like industry know-how and high-quality data are expected to build moats and fully benefit from the value growth brought by AI empowerment in the AI Agent era.
The logic behind this is that SaaS companies with profound industry knowledge and data can simultaneously increase token consumption revenue, maintain or expand profit margins, while transforming intangible know-how into standardized, deliverable, value-based "intelligent labor." This allows them to切入 more core business processes, capturing higher premiums and accessing broader budget markets. This will be the primary source of future收益 for SaaS companies with high-quality industry know-how.
WEIMOB INC undoubtedly belongs to this category. Its moat exists on three levels. First is the deep accumulation of functionality and business logic. Mature e-commerce SaaS encompasses thousands of feature points, understanding their需求差异 and interaction logic requires long-term accumulation; core business rules (like composite pricing, stacked membership benefits) are encapsulated within the system, highly隐蔽, making them difficult to模仿 externally or reverse-engineer via AI.
Second is significant scale effects and cost advantages. The shared SaaS model allows SMEs to enjoy enterprise-grade capabilities at lower costs, while the server, maintenance, and security investments for self-built systems are prohibitive for most companies. Simultaneously, the system's ability to scale from handling hundreds to hundreds of thousands of clients constitutes a high-replication-barrier operational and architectural advantage.
Third is the high-barrier private data and scenario knowledge. Under compliance frameworks, core customer data is not publicly available, preventing external AIs from accessing real business flows and decision-making scenarios for training. This private data沉淀 within the system and the operational know-how derived from it form a formidable competitive barrier.
AlixPartners noted in a recent report that AI is fundamentally reshaping the logic of software development, sales, and valuation. The report suggests that by 2026, the valuation method for enterprise software will shift from traditional ARR multiples to a hybrid model incorporating AI leverage ratios and business outcome-based metrics. This signifies that the capital market's valuation system for software companies is entering a全新阶段, and the AI-driven revaluation of SaaS value is unstoppable.
WEIMOB INC has敏锐地捕捉到 the key trend of the AI industry transitioning from "conversational" to "executive." The company not only established its "All in AI" strategy early but also announced during the latest earnings call that it will upgrade its underlying technical framework—evolving from the workflow-based Agent 1.0 to a skill-scheduling-based Agent 2.0—to strengthen AI's autonomous execution and coordination capabilities in actual business scenarios.
Simultaneously, while deeply integrating AI into its products and business, WEIMOB INC is also pioneering business model innovation: shifting from the past subscription model primarily based on SaaS seats to a hybrid revenue model combining AI usage volume and outcomes, truly linking technological value closely with commercial results.
Against this backdrop, with its continuously optimizing financial fundamentals and significantly accelerating AI commercialization process, WEIMOB INC, supported by a clear strategic transformation path and solid business progress, is poised to be among the first to receive market revaluation in this shift of valuation paradigms. It could become a benchmark case for accelerated value释放 under the new system. The current stage may well represent a golden window for long-term investors to establish positions.