TLDR: Bairong Inc., a leading cloud-based AI service provider, announced robust interim financial results for the first half of 2025, with a 22% year-on-year revenue growth to RMB1,611.80 million and sustained profitability. The company’s BaaS – Financial Scenario business saw a significant 45% revenue increase, largely attributed to its generative AI-driven solutions, including the newly registered national large language model, BR-LLM, and the CybotStar enterprise-level intelligent agent platform.
BEIJING – Bairong Inc. (HKEX: 6608), a prominent cloud-based artificial intelligence (AI) turnkey service provider, has released its interim financial results for the six months ended June 30, 2025, showcasing substantial growth and continued profitability.
The company reported a total revenue of RMB1,611.80 million for the first half of 2025, marking a 22% increase compared to RMB1,321.35 million in the same period of 2024. This growth was accompanied by a healthy non-IFRS profit of RMB254.45 million, with the non-IFRS net profit margin remaining strong at 16%, a 1 percentage point increase year-on-year.
Mr. Zhang Shaofeng, Founder, Chief Executive Officer, and Chairman of the Board, highlighted the company’s strategic success: “In the first half of 2025, the Company achieved a year-on-year revenue growth of 22% while maintaining sustained profitability. The revenue of our MaaS business increased by 19% year-on-year. Our BaaS business also achieved rapid growth, especially the revenue of the BaaS financial industry cloud driven by generative AI, which surged by 45% year-on-year. Our gross profit remained strong at over 70% while non-IFRS profit for the period reached 254 million, with a non-IFRS net profit margin of 16%. This demonstrates that our investments in the AI business have not only brought first-mover advantages but also achieved meaningful economies of scale. In terms of technology and products, relying on the intelligent voice product VoiceGPT and the Bairong enterprise-level intelligent agent platform CybotStar, we have deeply integrated our cross-industry AI capabilities into high-potential sectors such as telecom operators, medical care, and large-scale retail. Notably, the commercialization of the Bairong CybotStar enterprise-level intelligent agent platform has been commercialized.”
Segment Performance:
Model as a Service (MaaS): Revenue from MaaS business grew by 19% to RMB501.94 million. This increase is primarily due to expanded application fields and enhanced product competitiveness through AI algorithm optimization. The number of Key Clients reached 167, with an average revenue per Key Client of RMB2.28 million and a retention rate of 98%.
Business as a Service (BaaS): The BaaS business as a whole saw a 23% increase in revenue. The BaaS – Financial Scenario business was a significant driver, with revenue surging by 45% to RMB856.96 million. This growth is directly linked to the successful deployment of generative AI solutions.
BaaS – Insurance Scenario: Revenue in this segment decreased by 19% to RMB252.90 million. However, total premiums increased by 9% to RMB3,118.79 million, with first-year premiums up 5% and renewal premiums up 15%. The persistency rate of life insurance premiums remained above 90%.
AI Innovation and Product Development:
Bairong Inc. continues to solidify its position as an AI leader. Following the algorithm registration of its enterprise-grade agent platform, CybotStar, the company’s proprietary large language model, BR-LLM, has now achieved national large-model registration. Leveraging BR-LLM, Bairong has launched a comprehensive suite of AI products, including CybotStar, Digital Humans, and VoiceGPT intelligent voice capabilities. This creates a complete AI product ecosystem, from customized foundational models and mid-layer agent development to final solution delivery.
Financial Health and Investments:
Gross profit for the Group increased by 22% to RMB1,182.43 million, maintaining a stable gross margin of 73%. Research and development expenses rose by 33% to RMB301.54 million, reflecting increased investments in AI at the corporate level. This represents 19% of the total revenue. The company held cash and cash equivalents of RMB833.52 million and a cash reserve of RMB2,895.78 million as of June 30, 2025. Bairong also repurchased 3,274,500 Class B Shares for approximately HK$25.78 million to enhance shareholder value.
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Bairong Inc. applies natural language processing (NLP), privacy computing, machine learning, cloud computing, and other technologies to provide services. Its MaaS services utilize discriminant AI for digitalization of KYC and KYP processes, while BaaS services use discriminant AI for user stratification and generative AI-powered VoiceGPT for user interaction. The company’s solutions are widely adopted across various industries, including banking, consumer finance, insurance, e-commerce, and logistics.
