DEEPEXI TECH (01384) announced a positive profit alert after the market close on March 6, projecting 2025 revenue to reach between approximately RMB 400.8 million and RMB 425.1 million, representing a year-on-year increase of about 65% to 75%. With its formal inclusion in the Hong Kong Stock Connect scheduled for March 9, an influx of mainland southbound capital is expected to significantly enhance liquidity. Market expectations for a revaluation of this scarce AI stock are heating up, and under the influence of these dual catalysts, DEEPEXI TECH's long-term value is becoming increasingly prominent.

The announcement indicated that sustained R&D investment in 2024 led to a concentrated release of technological achievements in 2025. Consequently, revenue from the core FastAGI enterprise-grade AI solution surged by over 175% compared to the same period in 2024, establishing it as the primary engine for overall revenue growth. Furthermore, the company's operational performance improved simultaneously, with the net loss narrowing by over 23% year-on-year. After excluding the impact of non-operating items, the adjusted net loss also decreased substantially by approximately 65% to 75% compared to 2024. The company's full-year performance continued its strong growth trajectory, substantiating the commercial value of enterprise AI applications with solid operational data.

As a benchmark enterprise in the field of large model AI applications for enterprises in the Hong Kong stock market, DEEPEXI TECH has undergone a systematic refresh of its fundamentals post-listing. A dual upgrade in both customer structure and revenue system has made the company's development foundation increasingly solid. In terms of customer structure, leveraging capital empowerment and brand enhancement after listing, the company has simultaneously improved the breadth, quality, and stickiness of its customer coverage. It has successfully deployed stable, high-quality, and replicable industrial generative AI applications in key sectors such as manufacturing, consumer retail, healthcare, and transportation. This has led to widespread market recognition and adoption of the FastAGI solution, a continuously expanding client base, and strategic partnerships for joint R&D and scenario co-creation with some benchmark customers, forming a virtuous cycle of ecosystem collaboration that significantly boosts the company's development.

Regarding the revenue mix, the initial post-IPO structure, which was predominantly based on Data technology-related services, has gradually evolved into a pattern centered on the FastAGI enterprise AI solution. This business has become the primary driver of revenue growth, a core achievement attributable to the company's increased investment in computing power and FastAGI R&D during 2024. By 2025, a solid product foundation was established, achieving scaled implementation across multiple sectors. Concurrently, the traditionally strong data governance business has continued to iterate, forming deep synergies with the core FastAGI business. The integrated "Data Governance + Enterprise Large Model + AI Application" solution enables mutual reinforcement. The rapid expansion of the national sales network has also fostered balanced revenue growth across regions, further consolidating the basis for revenue increase.

From a current perspective, 2026 may mark the inaugural year where enterprise AI applications transition from "pilot exploration" to "scaled explosion." As underlying large model capabilities mature and inference costs decline exponentially, coupled with the urgent global corporate need to transition from "data cloud migration" to "business intelligence," enterprise AI solutions are shifting from being "nice-to-have tools" to "mission-critical infrastructure." Having achieved an earnings breakthrough in 2025, DEEPEXI TECH is well-positioned at the industry's starting line. The deep application of its FastAGI platform in fields like manufacturing and healthcare aligns precisely with the most concentrated demands for industrial intelligent transformation expected in 2026. It is foreseeable that as industry penetration accelerates, DEEPEXI TECH, as a first mover, will fully capitalize on the "first wave of benefits from this inaugural year," potentially leading to a steeper revenue growth curve.

Beyond this, DEEPEXI TECH's confidence in long-term growth is rooted in its comprehensive accumulation across technology, commercialization, and ecosystem strategy. The company persistently focuses on independent R&D of core technologies and has continued to increase R&D investment post-listing, building a full-stack, self-developed technology system encompassing "Data Foundation + Large Model Platform + Application Solutions." The FastDataFoil data fusion platform addresses industry challenges in multi-modal data governance, while the Deepexi enterprise large model platform achieves full-process self-reliance from data construction to security. A 94.31% self-developed code rate and the industry-leading Deepexi-Guard security model create a formidable and difficult-to-replicate technological barrier, enabling the company to respond rapidly to client needs and develop customized AI solutions tailored to specific enterprise logic.

Supported by this technological prowess, the company's commercialization capabilities have achieved a qualitative improvement. The optimization of fundamentals post-listing has propelled the company from "creating benchmark cases" into the phase of "industry-wide scaled replication." It is systematically and logically replicating the successful experiences gained with benchmark clients like China Haicheng and Han's Laser to other clients within the same industries. The enhancement of the national sales and service network has significantly increased regional customer service efficiency and response speed. Combined with the operational logic of "Data Engineering + Model Engineering + Application Engineering," this effectively reduces the implementation cost and cycle time for AI solutions, making scaled commercial deployment the norm.

Simultaneously, the capital empowerment following its market listing has enabled continuous deepening of the company's ecosystem布局. Joint R&D explorations with institutions like the Southern University of Science and Technology and The Hong Kong Polytechnic University have achieved deep integration of industry, academia, and research in core technologies like multi-modal large models and AI agents. Strategic collaborations with computing power service providers and industry leaders have facilitated the sharing and complementarity of computing resources, industry scenarios, and customer resources.

Looking at peers in the Hong Kong market, recent sentiment towards the AI application sector has warmed. MINIMAX (00100.HK) saw its stock price rise strongly following a 158.9% year-on-year revenue increase for 2025. Zhipu AI (02513.HK) also gained market favor after releasing its new-generation GLM-5 model, with its share price repeatedly hitting new highs. With its imminent inclusion in the Stock Connect, DEEPEXI TECH is poised to directly encounter the surging "northbound water" (mainland capital). Possessing both an "earnings surge" and a position as a "leader in enterprise AI," DEEPEXI TECH has the potential to replicate, or even surpass, the revaluation seen in leading peers, positioning it as a core target for southbound capital allocating to the enterprise large model and AI application space.