Nuobikan 2025 Results: Revenue Rises 23.7% to RMB 498.16 Million, Net Profit Up 2.1% as Gross Margin Slips

Nuobikan Artificial Intelligence Technology (Chengdu) Co., Ltd. reported 2025 revenue of RMB 498.16 million, a 23.7% year-on-year increase driven by rapid expansion of its urban management solution business. Net profit edged up 2.1% to RMB 117.84 million, constrained by higher costs and heavier R&D spending.

Gross profit improved 12.2% to RMB 266.19 million, yet the Group’s overall gross margin narrowed to 53.4% from 58.9% in 2024. Cost of sales surged 40.2%, reflecting a sharp rise in software procurement and ancillary service costs linked to the business mix shift.

Revenue composition changed markedly. Urban management solutions generated RMB 245.22 million—up 1,207.0% and accounting for 49.2% of total turnover—offsetting declines in transportation solutions (-19.6% to RMB 168.27 million) and energy solutions (-51.5% to RMB 84.67 million).

Operating expenses climbed: R&D outlays rose 39.3% to RMB 82.95 million, and administrative expenses increased 16.4% to RMB 41.67 million following asset additions. Selling and distribution costs fell 8.9% to RMB 14.88 million due to tighter cost control.

Total assets reached RMB 1.47 billion, up 75.5%, supported by funds raised from the December 2025 Hong Kong listing that generated net proceeds of HK$257.43 million. Cash and cash equivalents more than doubled to RMB 384.58 million, while the gearing ratio increased to 30.3% from 23.5% as interest-bearing bank loans expanded.

Operational cash flow strengthened to RMB 85.85 million, a 113.4% improvement, but investing cash outflows widened to RMB 258.33 million on heavier spending for R&D equipment.

The Board proposed no dividend for 2025. Post-balance-sheet events include a share subdivision effective 11 March 2026, converting each RMB 1.00 share into ten shares of RMB 0.10, and the appointment of Mr. Wang Huan as an independent non-executive director.

Management anticipates leveraging China’s “AI+” framework in 2026, targeting deeper penetration in transport, energy and urban governance sectors through its NBK-INTARI platform while maintaining a “technology-driven, scenario-focused” growth strategy.