MINIEYE (02431) announced its interim results for the six months ended June 30, 2025. The group achieved revenue of 346 million yuan, representing a year-over-year increase of 46.07%. Loss attributable to owners of the company was 152 million yuan, up 40.16% compared to the same period last year. Loss per share was 0.38 yuan.
In the first half of this year, we continued to iterate our intelligent driving solutions and further improve our intelligent driving product portfolio. In February 2025, we launched the iPilot 4 Plus intelligent driving solution, built on Horizon Journey 6M chips. It can integrate with LiDAR and other multi-sensor systems, enabling urban navigation assistance and spot-to-spot functionality covering urban areas, highways, and parking lots across all scenarios. Leveraging end-to-end algorithms, it further optimizes decision-making efficiency and generalization capabilities in complex scenarios.
In June 2025, we introduced the higher-performance iPilot 4 Pro intelligent driving solution. This solution is developed based on a chip platform with higher computing power of 256TOPS. It not only provides more intelligent and comfortable urban navigation experiences but also achieves breakthroughs in complex scenario decision-making, extreme weather conditions, and complex intersection handling, effectively expanding the range of urban scenario adaptability while improving traffic efficiency and avoidance response speed. iPilot 4 Pro has secured platform-level project awards from vehicle manufacturers and is expected to enter mass production in the first half of 2026.
The group continues to build a progressive intelligent driving business layout from L0 to L4 levels, achieving breakthrough progress in L4 autonomous driving business iRobo during the first half of this year. Among these developments, the L4 unmanned minibus business achieved the first breakthrough, completing commercial deployment in Suzhou in February. This milestone marks that our L4 autonomous driving technology has gained market validation and officially become a new business growth driver.
During the reporting period, the unmanned minibus business accelerated expansion, with operations deployed across multiple provinces and cities nationwide including Heilongjiang, Shanghai, and Hangzhou, accumulating over 10 projects in total.
Meanwhile, we have keenly captured new scenario opportunities. Since this year, driven by both local government policy support and industrial capital influx, unmanned logistics and other freight scenarios have entered a period of commercial breakthrough. Recent local policies including the "Guangzhou Intelligent Connected Vehicle Innovation Development Regulations" (February 28, 2025), the "Beijing Autonomous Vehicle Regulations" (April 1, 2025), and the "Shanghai High-Level Autonomous Driving Leading Zone Development Action Plan" (July 26, 2025) have been successively released, providing clear compliance guidance for supporting autonomous driving industry development in various regions.
Leveraging our early deployment in L4 autonomous driving technology, the group has focused on technical research and product development for unmanned logistics and other freight scenarios, actively exploring commercialization opportunities.