VOBILE GROUP (03738) announced its first-quarter results for 2026, with revenue increasing approximately 21% year-over-year and surging 44% compared to the fourth quarter of 2025. This performance indicates the company has fully moved past the temporary impacts experienced in Q4 2025 and is now on an accelerated growth trajectory, driven by the AI wave. Revenue from mainland China operations grew about 22% compared to the same period in 2025, while Monthly Recurring Revenue (MRR) increased by approximately 29% year-over-year.
On the asset side, the number of active assets under management reached 5.24 million, representing a 32% year-over-year increase and a net sequential addition of 387,000 assets. Among these, AI-related active assets grew to 870,000, raising their proportion of total active assets from around 12% at the end of 2025 to nearly 17%. The composition of the growth in AI assets has undergone a fundamental shift. Unlike previous quarters where growth was primarily driven by AI-assisted secondary creation, the incremental growth this quarter mainly came from AI-native content such as AI-generated animated series and AI-generated live-action dramas. The production cost per unit of time for this type of content is significantly lower than traditional live-action filming, yet its monetization potential on streaming platforms is nearly on par with traditional content.
The 29% year-over-year growth in MRR continues to outpace the overall revenue growth rate, signaling a structural expansion in the proportion of sustainable, recurring revenue.
Furthermore, DreamMaker, a new business line the company has been focusing on in recent years, has been opened for use by professional creators. In the first quarter, this platform contributed nearly HKD 30 million in revenue, a figure that has essentially matched its total revenue for the full year 2025. Additionally, the platform is expected to establish computing power cooperation partnerships overseas in the second half of the year, which is anticipated to lead to significant volume growth during that period.
Concurrently, the compliance process for VOBILE GROUP's first-phase product (valued in the tens of millions of USD) in the Real World Asset (RWA) sector has been largely completed. The product is expected to be officially launched in Hong Kong in June of this year.
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