Technology
Amber International Holding Limited Reports Fourth Quarter and Full Year 2025 Unaudited Financial Results
Published
4 months agoon
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– Revenue surged 784.1% YoY to US$66.1 million in the first full year as a Nasdaq-listed company –
– Secured VARA VASP license, expanding access to the UAE’s fast-growing family office and institutional market –
– Unveiled “A-Suite” architecture; first AI-native operating system scheduled for launch in Q1 2026 –
SINGAPORE, April 28, 2026 /PRNewswire/ — Amber International Holding Limited (Nasdaq: AMBR) (“Amber International”, “we,” “us,” or the “Company”), a global leading digital wealth management platform, today announced Fourth Quarter and Full Year 2025 Unaudited Financial Results.
Management Commentary
Michael Wu, Chairman of the Board and CEO of Amber International, commented, “Fiscal 2025 was a defining year for Amber International. In our first full year as a Nasdaq-listed company, we grew total revenue to US$66.1 million, and achieved our first profitable year on a GAAP continuing-operations basis, representing a US$27.9 million turnaround from our 2024 results. Our Amber Premium operations generated US$50.2 million in revenue with 572.1% growth, and Adjusted EBITDA turned positive at US$4.7 million — a US$9.9 million swing year-over-year.”
“These results provide the financial bedrock to build what we believe will define the next generation of digital wealth management. Today, we are introducing A-Suite: a cohesive architecture of three AI-native operating systems designed to coordinate on-chain liquidity, yield generation, and asset distribution at scale. We are building the financial infrastructure for the AI agent economy, where digital assets serve as the economic rails and financial services evolve into agent-native operating systems.”
Vicky Wang, President of Amber International, added, “Our 2025 fiscal year results demonstrate the unmatched quality of our revenue and our clear differentiation from the broader digital asset market. Wealth Management Solutions delivered US$34.9 million for the full year — a 463.6% increase — and constitutes nearly seventy percent of Amber Premium segment revenue. Our platform gross margin reached 74.8%, up from 33.4% a year ago, showing our profitability profile that now aligns with institutional-grade wealth management platforms. Furthermore, closing 2025 with an average of US$1.3 million in Assets on Platform per active client underscores our success in building a premier, institutional-grade platform.”
“Building upon this optimized foundation, 2026 is the year we continue to scale globally. While we continue to advance our product innovations through new tokenized assets and expand our OTC Market Share by optimizing execution workflows, a meaningful catalyst for our business is our regulatory milestone. Leveraging our VARA VASP license granted on April 2, 2026, we have unlocked expanded access to one of the fastest-growing UAE HNWI markets, positioning Amber as one of the few regulated, pan-Asian digital asset wealth platforms capable of serving this client base at institutional standards.”
Fourth Quarter and Full Year 2025 Highlights
Total Revenue: Reached US$16.3 million in Q4 2025, a 240.6% increase from US$4.8 million in Q4 2024. For the full year 2025, total revenue reached US$66.1 million, a 784.1% increase from US$7.5 million in 2024.Wealth Management Solutions Revenue: Reached approximately US$5.9 million in Q4 2025, a 33.4% increase from US$4.4 million in Q4 2024. For the full year 2025, Wealth Management Solutions revenue reached US$34.9 million, a 463.6% increase from US$6.2 million in 2024, representing 69.5% of Amber Premium segment revenue.Gross Profit: Reached US$12.1 million in Q4 2025 at a gross margin of 74.2%, compared to 28.9% in Q4 2024. For the full year 2025, gross profit reached US$49.4 million at a gross margin of 74.8%, compared to 33.4% in 2024.Non-GAAP Adjusted EBITDA from continuing operations: US$50 thousand in Q4 2025, versus a loss of US$1.6 million in Q4 2024. For the full year 2025, Adjusted EBITDA was US$4.7 million, or 7.1% of revenue, improved from a loss of US$5.2 million in 2024.Client Assets on Platform[1]: Stood at US$1.3 billion as of December 31, 2025. Client Assets per Active Client[2] reached US$1.3 million as of December 31, 2025, reflecting the Company’s differentiated client profile.Cumulative KYC’ed Users[3]: Reached 5,229 as of December 31, 2025, up 16.7% from December 31, 2024.
[1] Client Assets on Platform is defined as the total U.S. dollar equivalent value of client assets as of a specific date.
[2] An Active Client is defined as a client who has conducted at least one transaction during any consecutive three months ended as of a specific date, or whose assets under management with the Company greater than US$10 thousand as of a specific date.
[3] Cumulative KYC’ed Users is defined as the total number of clients that completed the Company’s Know Your Customer identity verification as of a specific date. The Company does not offer or provide any services to registered users who have not successfully completed the Know Your Customer identity verification process.
Business Developments and Strategic Updates
In fiscal year 2025, Amber International delivered strong operational and financial performance, completed its first full year as a Nasdaq-listed public company, and executed on several strategic initiatives to expand its addressable market.
Multi-Jurisdiction Regulatory Platform: On April 2, 2026, the Company’s Dubai subsidiary, Amber Premium FZE, received its Virtual Asset Service Provider (VASP) Licence from the Virtual Assets Regulatory Authority (VARA), authorizing regulated VA Broker-Dealer, VA Management and Investment, and VA Lending and Borrowing services. Under the SCA-VARA cooperation framework, this authorization enables the Company to service the broader UAE market under a unified regulatory standard. In Singapore, Sparrow Tech Private Limited, a wholly owned subsidiary of the Company, holds a Major Payment Institution (MPI) licence issued by the Monetary Authority of Singapore. In Hong Kong, the Company, together with Amber Group, continues to advance applications for a VATP licence and SFC Type 1 & 7 licences via WhaleFin Markets Limited and its wholly-owned subsidiary, Amber Custodian Services Limited[4].
High-Quality Revenue Mix and Margin Expansion: Throughout 2025, management continued its deliberate focus on higher-quality and higher-margin revenue streams. Wealth Management Solutions revenue reached US$34.9 million — a 463.6% increase — driven by robust demand for structured products and institutional advisory services. Wealth Management now represents 69.5% of Amber Premium segment revenue, giving the Company one of the highest recurring revenue mixes among peers. Platform gross margin expanded from 33.4% to 74.8%, approaching the profitability profile of an institutional-grade wealth management platform.
Strengthening Client Metrics: Assets on Platform per active client ended the year at US$1.3 million as of December 31, 2025, a metric that significantly differentiates our institutional-grade digital wealth management platform from the retail-focused peers. The Amber Premium community ended the fiscal year with 988 active clients demonstrating exceptional retention through the Q4 market correction. Cumulative KYC’ed users grew 16.7% year-over-year to a record 5,229, representing a highly lucrative pipeline for future capital activation. This growth potential will be further accelerated by our newly secured regulatory licenses, which unlock massive external client expansion opportunities across key global wealth hubs.
AI Integration and MIA Deployment: The Company continued to deepen AI integration across its operations. MIA, the Company’s first in-house developed AI agent, has been deployed externally for content generation, social media consistency, and investor engagement, and internally as a proactive workspace assistant accelerating workflows via a proprietary skill hub and secure internal database.
[4] While WhaleFin Markets Limited (“WML”) and its subsidiary are not currently subsidiaries of the Company, the Company will acquire 100% of the equity interests in WML as part of the DWM Asset Restructuring contemplated in the Merger (as defined below), subject to relevant regulatory approvals. Pending such completion, the Company is entitled to the economic benefits of WML and its subsidiary through existing intercompany arrangements.
Share Repurchase Program
On November 26, 2025, the Company announced a share repurchase program authorizing the purchase of up to US$50.0 million of its ADSs over a 12-month period commencing December 1, 2025. As of December 31, 2025, the Company had repurchased a total of 516,703 ADSs under this program for an aggregate consideration of approximately US$0.9 million. As of December 31, 2025, approximately US$49.1 million remained available for future repurchases under the program, providing significant capacity for opportunistic repurchases alongside continued growth investment.
Fourth Quarter and Full Year 2025 Financial Results Summary
On March 12, 2025, iClick Interactive Asia Group Limited (“iClick”) completed its merger (the “Merger”) with Amber DWM Holding Limited (“Amber DWM”)[5] . The Merger is accounted for as a reverse acquisition for accounting purposes. Accordingly, the Merger is treated as the equivalent of Amber DWM issuing shares for the acquisition of iClick, accompanied by a recapitalization, for accounting purposes. The financial results of iClick have been included in our consolidated financial results since March 12, 2025. We completed one of the disposals in October 2025, and as of the end of year 2025, certain operations under iClick were classified as held-for-sale.
The following table sets forth the key financial metrics of the Company for the periods indicated.
Three Months Ended December 31,
Year Ended December 31,
(US$ in thousands, except per share data; unaudited)
2025
2024
Percentage
change
2025
2024
Percentage
change
Financial Metrics:
Revenue
Wealth Management Solutions
5,935
4,448
33.4 %
34,909
6,194
463.6 %
Execution Solutions
3,391
157
2,059.9 %
11,243
320
3,413.4 %
Payment Solutions
1,231
191
544.5 %
4,086
961
325.2 %
Sub-total of Amber Premium Business[6]
10,557
4,796
120.1 %
50,238
7,475
572.1 %
Marketing and Enterprise Solutions
5,780
—
N/M
15,851
—
N/M
Total revenue
16,337
4,796
240.6 %
66,089
7,475
784.1 %
Gross profit
12,128
1,387
774.4 %
49,436
2,495
1,881.4 %
Operating income/(loss)
1,159
(1,055)
N/M
2,595
(5,306)
N/M
Net income/(loss) from continuing operations
827
(12,099)
N/M
4,665
(23,273)
N/M
Diluted net income/(loss) from continuing
operations per American Depositary Shares
(“ADS”)
0.01
(0.20)
N/M
0.05
(0.38)
N/M
Adjusted EBITDA from continuing operations[7]
50
(1,559)
N/M
4,694
(5,158)
N/M
Adjusted net income/(loss) from continuing
operations[7]
937
(1,629)
N/M
4,858
(5,433)
N/M
Diluted adjusted net income/(loss) per ADS
from continuing operations[7]
0.01
(0.03)
N/M
0.06
(0.09)
N/M
[5] In connection with the Merger, we entered into intercompany services agreements with certain wholly owned subsidiaries of our parent, Amber Group. These agreements would afford us with substantially the same economic benefits as the transactions contemplated under the merger agreement signed in connection with the Merger, pending certain regulatory approvals for DWM Asset Restructuring contemplated under the merger agreement. This includes our entitlement to 100% of the consolidated net income generated from certain contracts associated with WhaleFin Technologies Limited (“WFTL”) (the “WFTL Assigned Contracts”) effective from January 1, 2025 to October 27, 2025, and our entitlement to 100% of the consolidated net income generated from certain contracts associated with AG Global Technology Limited Inc. (“AGTL”) (the “AGTL Assigned Contracts”) effective from October 28, 2025. Therefore, our results for the three months and year ended December 31, 2025 have included the net income from WFTL Assigned Contracts and AGTL Assigned Contracts (collectively, the “Assigned Contracts”), which was not reflected in our results for the corresponding periods in 2024.
[6] Amber Premium business comprises our Wealth Management Solutions, Execution Solutions, and Payment Solutions.
[7] For more details on these non-GAAP financial measures, please see the tables captioned “Unaudited Reconciliations of GAAP and Non-GAAP Results” set forth at the end of this press release.
Fourth Quarter 2025 Results:
Revenue for the fourth quarter of 2025 was US$16.3 million, representing a 240.6% increase year-over-year. The solid performance was contributed by the substantial growth in Amber Premium Business reflected by the Assigned Contracts[8], in addition with the Marketing and Enterprise Solutions following the Merger:
Revenue from Wealth Management Solutions was US$5.9 million in the fourth quarter of 2025, up from US$4.4 million in the same period a year earlier. The growth was driven by stronger institutional adoption of our offerings, supported by the increasing demand for our expanded and advanced investment products and services.Revenue from Execution Solutions reached US$3.4 million in the fourth quarter of 2025, grew from US$0.2 million in the same period of 2024, together with the increase in client trading activities with us and improved fee rate and spread mix during the quarter.Revenue from Payment Solutions rose to US$1.2 million in the fourth quarter of 2025, from US$0.2 million for the same period of 2024, benefited from the and continued structural growth in stablecoin-based payment flows for risk-off positioning and treasury management.Marketing and Enterprise Solutions revenue was US$5.8 million in the fourth quarter of 2025, generated from online marketing, SaaS products and services from iClick.
[8] For purposes of this release, unless otherwise indicated, the financial results discussed under “Amber Premium Business” include the net income attributable to the Company from the Assigned Contracts under the intercompany services agreements as described above.
Gross profit for the fourth quarter of 2025 was US$12.1 million, compared to US$1.4 million in the same period of 2024. Gross profit margin reached 74.2% in the fourth quarter of 2025, from 28.9% in the fourth quarter of 2024. These improvements were mainly driven by the continuous growth of higher-margin Amber Premium offerings and marketing and enterprise solutions.
Total operating expenses were US$11.0 million in the fourth quarter of 2025, increased from US$2.4 million in the same period of 2024. The change reflected our strategic business expansion, accompanied by higher personnel expenses, technology and development expenses, and legal and professional fees.
Operating income was US$1.2 million in the fourth quarter of 2025, compared to US$1.1 million operating loss in the same period of 2024, driven by the growth of higher-margin services, partially offset by increased expenses for expansion.
Other losses, net were US$1.6 million in the fourth quarter of 2025, versus US$11.1 million in the fourth quarter of 2024. The losses in the fourth quarter of 2025 were mainly attributable to the fair value change of crypto assets loan receivables and digital assets, partially offset by the write-off of certain other payables, whereas the losses in the fourth quarter of 2024 were primarily represented the unrealized loss in fair value of digital assets from a related party, which was waived prior to the Merger.
Net income from continuing operations improved to US$0.8 million in the fourth quarter of 2025 from a net loss of US$12.1 million in the same period of 2024.
Adjusted EBITDA from continuing operations was US$50 thousand, versus a loss of US$1.6 million in the same period of 2024. Adjusted net income from continuing operations was US$0.9 million, versus adjusted net loss of US$1.6 million a year earlier.
Net loss from discontinued operations was US$0.3 million in the fourth quarter of 2025, attributable to the financial results of certain operations under iClick that were either disposed of during the quarter or classified as held-for-sale as of quarter end.
Full Year 2025 Results:
Revenue for 2025 surged to US$66.1 million, representing a 784.1% increase year-over-year. The strong momentum was driven by incremental contribution from the growth in the core Amber Premium Business, and the Marketing and Enterprise Solutions following the Merger on March 12, 2025:
Revenue from Wealth Management Solutions reached US$34.9 million in 2025, reflecting robust growth from US$6.2 million in 2024 and broader adoption of our offerings, supported by the strong demand on our diversified investment products and services, including new accumulator/decumulator products introduced in the fourth quarter of 2024.Revenue from Execution Solutions surged to US$11.2 million in 2025, compared to US$0.3 million a year earlier, fueled by the increase in client trading activities with us and improved average fee rate and spread mix throughout the year.Revenue from Payment Solutions rose to US$4.1 million in 2025, from US$1.0 million in 2024, mainly resulting from increased volumes.Marketing and Enterprise Solutions revenue was US$15.9 million in 2025.
Gross profit in 2025 reached US$49.4 million, up from US$2.5 million in 2024. Gross profit margin surged to 74.8% in 2025, from 33.4% in 2024. The substantial growth was mainly contributed from the accelerated growth in Amber Premium business and higher-margin marketing and enterprise solutions.
Total operating expenses were US$46.8 million in 2025, compared to US$7.8 million in 2024, primarily due to higher personnel expenses, technology infrastructure and software services expenses, and legal and professional service fees associated with business expansion and new products and services development.
Operating income was US$2.6 million in 2025, a substantial improvement from the operating loss of US$5.3 million in 2024, driven by a significant increase in gross profit and strengthened operating leverage.
Other gains, net were US$0.5 million in 2025, compared to other losses, net of US$18.1 million in 2024. Other gains, net in 2025 mainly represents the write-off of certain other payables, dividend income from investment, and investment gains during the year, partially offset by fair value change of crypto asset loan receivables and digital assets. The losses in 2024 mainly represented the unrealized fair value loss of digital assets on loan from a related party, and the loan was subsequently waived.
Net income from continuing operations was US$4.7 million in 2025, representing a turnaround from net loss from continuing operations of US$23.3 million in 2024.
Adjusted EBITDA and adjusted net income from continuing operations reached US$4.7 million and US$4.9 million, respectively, in 2025, achieving profitability from adjusted EBITDA loss of US$5.2 million and adjusted net loss of US$5.4 million in 2024.
Net loss from discontinued operations was US$2.0 million in 2025.
Balance Sheet Highlights
As of December 31, 2025, the Company had cash and cash equivalents, time deposits and restricted cash of US$33.9 million, compared to US$9.3 million as of December 31, 2024.
Operating Data
In addition to the measures presented in our consolidated financial statements, we use the operating metrics listed below to evaluate our business, measure our performance, identify trends and make strategic decisions:
As of December 31,
(US$ in thousands, unless specified)
2025
2024
Percentage
change
Operating Metrics[9]:
Cumulative KYC’ed users (in number)
5,229
4,479
16.7 %
Active clients (in number)
988
985
0.3 %
Client assets on platform
1,318,413
1,478,884
(10.9 %)
For the three months ended December 31,
2025
2024
Percentage
change
New onboarded KYC’ed users[10] (in number)
161
230
(30.0 %)
Execution trading volume[11]
2,341,376
2,964,789
(21.0 %)
Payment trading volume[12]
533,753
369,358
44.5 %
[9] The operating metrics presented in this press release include operating data from Sparrow business and the Assigned Contracts. While the relevant entities were not consolidated subsidiaries of the Company throughout the relevant periods, their operating data have been included on a pro forma basis for illustrative purposes assuming the completion of DWM Asset Restructuring contemplated in the Merger. As of the date of this earnings release, other than the consolidation of Sparrow business following the relevant regulatory approval in April 2025, the DWM Asset Restructuring has not been completed.
[10] New onboarded KYC’ed user is defined as the number of clients that completed the Company’s Know Your Customer onboarding procedures during the period.
[11] Execution trading volume is defined as the total U.S. dollar equivalent value of two-side spot matched trades transacted of crypto assets between a buyer and seller through the Company, and excluding the deposit or withdrawal of crypto assets during the period.
[12] Payment trading volume is defined as the total U.S. dollar equivalent value of one-side on/off-ramp through the Company during the period.
Outlook
Based on the information available as of the date of this press release, the Company provides the following revenue outlook of Amber Premium business:
First Quarter 2026:
Revenue of Amber Premium business is estimated to be between US$5.1 million and US$5.6 million.
While the broader market downtrend we navigated in the fourth quarter of 2025 has continued into the first quarter of 2026, we are utilizing this period for purposeful strategic optimization. We continue to strategically streamline our resources and fulfill stringent regulatory requirements across our active jurisdictions. With greater regulatory visibility—culminating in the milestone receipt of our VARA VASP license in Dubai—we are proactively refining our client base to focus exclusively on high-value, compliant relationships. This intentional contraction prioritizes the depth and profitability of our network over sheer volume, ensuring we continue to enhance our competitiveness as a sustainable, institutional-grade digital wealth management platform through 2026 and beyond.
Please also refer to the factors set out under the section titled “Safe Harbor Statement.”
Conference Call
The Company will host an earnings conference call at 8:00 AM U.S. Eastern Time on April 28, 2026 (8:00 PM Singapore time on April 28, 2026). Participants are asked to use one of the following teleconferencing numbers to participate in the call and reference the Access ID number 13760041. The Company requests that participants dial in 10 minutes before the conference call begins.
Participant Dial-in Numbers:
Toll Free: 1-844-539-3703
Toll/International: 1-412-652-1273
The conference call will also be available via a live webcast at
https://viavid.webcasts.com/starthere.jsp?ei=1759715&tp_key=74466dd863
Replay Dial-in Numbers:
Toll Free: 1-844-512-2921
Toll/International:1-412-317-6671
Replay Pin Number: 13760041
A replay of the call will be available on Tuesday, April 28, 2026, after 12:00 PM ET through Tuesday, May 12, 2026 at 11:59 PM ET.
The Company’s earnings release and investor presentation will be available shortly after issuance in the Investor Relations section of Amber International’s website at https://ir.ambr.io.
About Amber International Holding Limited
Amber International Holding Limited (Nasdaq: AMBR), operating under the brand name “Amber Premium,” is a global leading digital wealth management platform. As a private banking grade expert in digital wealth management and a subsidiary of Amber Group, Amber Premium is a trusted partner to high-net-worth individuals and leading institutions, delivering institutional-grade market access, execution infrastructure, and investment solutions. The firm is set to redefine the digital wealth management landscape, serving as a proven Nasdaq-listed gateway to digital assets. Learn more at www.ambr.io.
Non-GAAP Financial Measures
The Company uses adjusted EBITDA from continuing operations, adjusted net income/(loss) from continuing operations, and diluted adjusted net income/(loss) from continuing operations per ADS, each a non-GAAP financial measure, in evaluating the Company’s operating results and for financial and operational decision-making purposes. The Company believes that adjusted EBITDA from continuing operations, adjusted net income/(loss) from continuing operations, and diluted adjusted net income/(loss) from continuing operations per ADS help identify underlying trends in the Company’s business that could otherwise be distorted by the effect of the expenses and gains that the Company includes in net income/(loss). The Company believes that adjusted EBITDA from continuing operations and adjusted net income/(loss) from continuing operations provide useful information about the Company’s operating results, enhance the overall understanding of the Company’s past performance and future prospects, assess operating performance on a consistent basis, and allow for greater visibility with respect to key metrics used by the Company’s management in its financial and operational decision-making.
Adjusted EBITDA from continuing operations, adjusted net income/(loss) from continuing operations, and diluted adjusted net income/(loss) from continuing operations per ADS should not be considered in isolation or construed as an alternative to net income/(loss) or any other measure of performance or as an indicator of the Company’s operating performance. Investors are encouraged to review the historical non-GAAP financial measures to the most directly comparable GAAP measures. Adjusted EBITDA from continuing operations, adjusted net income/(loss) from continuing operations, and diluted adjusted net income/(loss) from continuing operations per ADS presented here may not be comparable to similarly titled measures presented by other companies. Other companies may calculate similarly titled measures differently, limiting their usefulness as comparative measures to the Company’s data. The Company encourages investors and others to review the Company’s financial information in its entirety and not rely on a single financial measure.
For more information on these non-GAAP financial measures, please see the table captioned “Unaudited Reconciliations of GAAP and Non-GAAP results” set forth at the end of this press release.
These non-GAAP financial measures were presented with the most directly comparable GAAP financial measures together for facilitating a more comprehensive understanding of operating performance between periods.
Important Notice Regarding Preliminary Financial Information
The financial information presented herein is preliminary and unaudited, and is subject to change in connection with the completion of the Company’s financial closing and audit procedures.
Safe Harbor Statement
This announcement contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact in this announcement are forward-looking statements. These forward-looking statements are inherently uncertain, and shareholders and other potential investors must recognize that actual results may differ materially from the expectations as a result of a variety of factors. Such forward-looking statements are based upon management’s current expectations and include known and unknown risks, uncertainties and other factors, many of which are hard to predict or control, that may cause the actual results, performance, or plans to differ materially from any future results, performance or plans expressed or implied by such forward-looking statements. Further information regarding these and other risks is included in the Company’s annual reports on Form 20-F and other filings with the SEC. Investors can identify these forward-looking statements by words or phrases such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” continue,” “is/are likely to” or other similar expressions. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results.
Media & Investor Contacts
In Asia:
Amber International Holding Limited
Media Relations Team
Phone: +65 6022 0228
E-mail: pr@ambr.io | ir@ambr.io
In the United States:
International Elite Capital Inc.
Annabelle Zhang
Tel: +1 (646) 866-7928
E-mail: amber@iecapitalusa.com
(financial tables follow)
AMBER INTERNATIONAL HOLDING LIMITED
Unaudited Condensed Consolidated Statements of Comprehensive (Loss)/Income
(US$’000, except share data and per share data, or otherwise noted)
Three Months Ended
December 31,
Year Ended
December 31,
2025
2024
2025
2024
Continuing operations
Revenue
16,337
4,796
66,089
7,475
Cost of revenue
(4,209)
(3,409)
(16,653)
(4,980)
Gross profit
12,128
1,387
49,436
2,495
Operating expenses
Research and development expenses
(1,201)
(129)
(10,812)
(452)
Sales and marketing expenses
(2,074)
(26)
(7,933)
(80)
General and administrative expenses
(7,694)
(2,287)
(28,096)
(7,269)
Total operating expenses
(10,969)
(2,442)
(46,841)
(7,801)
Operating income/(loss)
1,159
(1,055)
2,595
(5,306)
Finance income, net
238
19
548
104
Other (losses)/gains, net
(1,616)
(11,063)
505
(18,071)
(Loss)/income from continuing operations before share of
losses from an equity investee and income tax credit
(219)
(12,099)
3,648
(23,273)
Share of losses from an equity investee
(12)
—
(50)
—
(Loss)/income from continuing operations before income tax
credit
(231)
(12,099)
3,598
(23,273)
Income tax credit
1,058
—
1,067
—
Net income/(loss) from continuing operations
827
(12,099)
4,665
(23,273)
Net income attributable to non-controlling interests
—
—
—
—
Net income/(loss) from continuing operations
attributable to the Company’s ordinary shareholders
827
(12,099)
4,665
(23,273)
Discontinued operations
Net loss from discontinued operations
(258)
—
(2,035)
—
Net loss attributable to non-controlling interests
1
—
1,121
—
Net loss from discontinued operations attributable to
the Company’s ordinary shareholders
(257)
—
(914)
—
Net income/(loss)
569
(12,099)
2,630
(23,273)
Net income/(loss) attributable to the Company’s ordinary
shareholders
570
(12,099)
3,751
(23,273)
Net income/(loss) from continuing operations
827
(12,099)
4,665
(23,273)
Other comprehensive loss:
Foreign currency translation adjustment, net of US$nil tax
(1,308)
—
(1,309)
—
Comprehensive (loss)/income from continuing operations
attributable to the Company’s ordinary shareholders
(481)
(12,099)
3,356
(23,273)
Three Months Ended
December 31,
Year Ended
December 31,
2025
2024
2025
2024
Net loss from discontinued operations
(258)
—
(2,035)
—
Other comprehensive income/(loss):
Foreign currency translation adjustment, net of US$nil tax
—
—
—
—
Comprehensive loss from discontinued operations
(258)
—
(2,035)
—
Comprehensive loss from discontinued operations
attributable to noncontrolling interests
—
—
(15)
—
Comprehensive loss from discontinued operations
attributable to the Company’s ordinary shareholders
(258)
—
(2,050)
—
Comprehensive (loss)/income attributable to the
Company’s ordinary shareholders
(739)
(12,099)
1,306
(23,273)
Net income/(loss) from continuing operations per ADS
attributable to the Company’s ordinary shareholders
— Basic
0.01
(0.20)
0.05
(0.38)
— Diluted
0.01
(0.20)
0.05
(0.38)
Weighted average number of ADS used in per share
calculation:
— Basic
93,762,225
61,966,949
86,636,218
61,966,949
— Diluted
93,775,581
61,966,949
86,649,319
61,966,949
Net loss from discontinued operations per ADS attributable
to the Company’s ordinary shareholders
— Basic
(0.00)
—
(0.01)
—
— Diluted
(0.00)
—
(0.01)
—
Weighted average number of ADS used in per share
calculation:
— Basic
93,762,225
61,966,949
86,636,218
61,966,949
— Diluted
93,762,225
61,966,949
86,636,218
61,966,949
Net income/(loss) per ADS attributable to the Company’s
ordinary shareholders
— Basic
0.01
(0.20)
0.04
(0.38)
— Diluted
0.01
(0.20)
0.04
(0.38)
Weighted average number of ADS used in per share
calculation:
— Basic
93,762,225
61,966,949
86,636,218
61,966,949
— Diluted
93,775,581
61,966,949
86,649,319
61,966,949
AMBER INTERNATIONAL HOLDING LIMITED
Unaudited Condensed Consolidated Statements of Financial Position
(US$’000)
As of December 31, 2025
As of December 31, 2024
Assets
Current assets
Cash and cash equivalents, time deposits and restricted cash
33,902
9,326
Accounts receivable, net of allowance for credit losses of US$1,855 and
US$nil as of December 31, 2025 and December 31, 2024 respectively
5,490
12
Crypto assets loan receivables
42,141
69,934
Digital assets
45,958
4,832
Amounts due from related parties
32,371
11,533
Collateral receivables
3,407
14,414
Other current assets, net of allowance for credit losses of US$nil and
US$nil as of December 31, 2025 and December 31, 2024, respectively
33,646
2,184
Assets held for sale
17
—
Total current assets
196,932
112,235
Non-current assets
Goodwill
53,136
16,735
Intangible assets
2,949
160
Other assets
3,362
704
Total non-current assets
59,447
17,599
Total assets
256,379
129,834
Liabilities and equity
Current liabilities
Accounts payable
3,080
763
Collateral payables
10,941
14,414
Liabilities due to customers
69,926
71,523
Payable to related parties
48,031
9,980
Other current liabilities
12,043
2,884
Liabilities held for sale
1,277
—
Total current liabilities
145,298
99,564
Non-current liabilities
Other liabilities
769
485
Total non-current liabilities
769
485
Total liabilities
146,067
100,049
Equity
Share capital
90,061
13,500
Accumulated losses
(33,139)
(36,890)
Reserve
53,390
53,175
Total equity
110,312
29,785
Total equity and liabilities
256,379
129,834
AMBER INTERNATIONAL HOLDING LIMITED
Unaudited Reconciliations of GAAP and Non-GAAP Results
(US$’000, except share data and per share data, or otherwise noted)
Adjusted EBITDA from continuing operations represents net income/(loss) from continuing operations before (i) depreciation and amortization, (ii) finance income, net, (iii) income tax credit, (iv) share-based compensation, (v) other gains, net, (vi) unrealized loss in fair value of digital assets, and (vii) cost related to merger.
The table below sets forth a reconciliation of the Company’s adjusted EBITDA from continuing operations from net income/(loss) from continuing operations for the periods indicated:
Three Months Ended
December 31,
Year Ended
December 31,
2025
2024
2025
2024
Net income/(loss) from continuing operations
827
(12,099)
4,665
(23,273)
Add/(less):
Depreciation and amortization
409
89
1,451
379
Finance income, net
(238)
(19)
(548)
(104)
Income tax credit
(1,058)
—
(1,067)
—
EBITDA from continuing operations
(60)
(12,029)
4,501
(22,998)
Add/(less):
Share-based compensation
(220)
—
591
—
Other gains, net
(972)
(81)
(2,144)
(167)
Unrealized loss in fair value of digital assets
1,302
10,551
1,302
18,007
Cost related to merger[13]
—
—
444
—
Adjusted EBITDA from continuing operations
50
(1,559)
4,694
(5,158)
Adjusted net income/(loss) from continuing operations represents net income/(loss) from continuing operations before (i) share-based compensation, (ii) other gains, net, (iii) unrealized loss in fair value of digital assets, and (iv) cost related to merger. There are no material tax effects on these non-GAAP adjustments.
The table below sets forth a reconciliation of the Company’s adjusted net income/(loss) from continuing operations from net income/(loss) from continuing operations for the periods indicated:
Three Months Ended
December 31,
Year Ended
December 31,
2025
2024
2025
2024
Net income/(loss) from continuing operations
827
(12,099)
4,665
(23,273)
Add/(less):
Share-based compensation
(220)
—
591
—
Other gains, net
(972)
(81)
(2,144)
(167)
Unrealized loss in fair value of digital assets
1,302
10,551
1,302
18,007
Cost related to merger[13]
—
—
444
—
Adjusted net income/(loss) from continuing operations
937
(1,629)
4,858
(5,433)
[13] Cost related to the merger relates to legal and professional fees.
The diluted adjusted net income/(loss) from continuing operations per ADS for the periods indicated are calculated as follows:
Three Months Ended
December 31,
Year Ended
December 31,
2025
2024
2025
2024
Net income/(loss) from continuing operations
827
(12,099)
4,665
(23,273)
Add: Non-GAAP adjustments
110
10,470
193
17,840
Adjusted net income/(loss) from continuing operations
937
(1,629)
4,858
(5,433)
Denominator for diluted net income/(loss) from
continuing operations per ADS – Weighted average
ADS outstanding
93,775,581
61,966,949
86,649,319
61,966,949
Denominator for diluted adjusted net income/(loss)
from continuing operations per ADS – Weighted
average ADS outstanding
93,775,581
61,966,949
86,649,319
61,966,949
Diluted net income/(loss) from continuing operations
per ADS
0.01
(0.20)
0.05
(0.38)
Add: Non-GAAP adjustments
0.00
0.17
0.01
0.29
Diluted adjusted net income/(loss) from continuing
operations per ADS
0.01
(0.03)
0.06
(0.09)
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SOURCE Amber International Holding Limited
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Technology
TCL Electronics (01070.HK) Delivers Strong Growth in 2026 Interim Results
Published
16 minutes agoon
August 28, 2026By
Adjusted Profit Attributable to Owners of the Parent Surges by 54.3% YoY to HK$1.64 Billion
Acquisition of TCL Air Conditioning Business to Advance All-Category Smart Device Layout
Results and Operational Highlights
Leveraging the strategy of “Globalisation” and “Premiumisation”, TCL sustained strong growth momentum in operational performance. In the first half of 2026, revenue increased by 16.4% year-on-year (“YoY”) to HK$63.76 billion, adjusted profit attributable to owners of the parent increased by 54.3% YoY to HK$1.64 billion.
TV business: In the first half of 2026, overall revenue from the TV business increased by 24.3% to HK$35.25 billion YoY and TCL TV ranked 2nd globally by shipment[1], of which global shipment of Mini LED TV increased by 77.1%, with shipment remaining No. 1 globally[2]. International markets are still the core growth driver of the Company. Gross profit in international markets increased by 70.6% YoY to HK$4.82 billion.
Internet business: In the first half of 2026, revenue from the internet business increased by 16.1% to HK$1.69 billion YoY, while gross profit amounted to HK$1.03 billion, increased by 30.4% YoY. Among these, the high-margin international internet business recorded a YoY growth of 74.6% in revenue, accounting for over 50% of total revenue and driving the overall gross profit margin up to 61.1%, with profitability continuing to improve.
Innovative business: In the first half of 2026, innovative business maintained steady development with revenue grew YoY by 2.5% to HK$20.37 billion.
Strategic acquisition: TCL Electronics announced the proposed acquisition of TCL Industries Holdings’ air-conditioning-related business. The acquisition aims to advance its “all-category smart device” layout strategy and further expand the Company’s revenue and profitability.
HONG KONG, Aug. 28, 2026 /PRNewswire/ — TCL Electronics Holdings Limited (“TCL Electronics” or the “Company”, 01070.HK) today announced its unaudited interim results for the six months ended 30 June 2026. Benefitting from the effective implementation of its strategies of deepening global channel penetration and upgrading its mid-to-high-end product portfolio, the Company recorded a 16.4% increase YoY in revenue to HK$63.76 billion. The increase in shipment from Mini LED and large-sized products drove a notable improvement in overall ASP, while gross profit recorded YoY increase of 30.3% to HK$10.90 billion.
Meanwhile, the Company continued to deepen refined operations across the entire value chain and optimise resource allocation efficiency, achieving effective cost and expense control, with overall expense[3] ratio at 11.7% during the reporting period. Bolstered by improved operating efficiency driven by AI and digital tools as well as economies of scale, the Company’s profitability continued to improve, with profit after tax recording a YoY growth of 54.4% to HK$1.62 billion and adjusted profit attributable to owners of the parent recording a YoY growth of 54.3% to HK$1.64 billion during the period. In the first half of 2026, the Company’s annualised return on equity increased by 4.2 p.p. YoY to 16.5%, maintaining a sound financial position. TCL ranked 12th in Gartner’s 2026 Asia-Pacific Supply Chain Top 15, fully demonstrating the comprehensive strength and international competitiveness of the Group’s supply chain system.
In terms of strategic development, on 31 March 2026, the Company entered into a transaction framework agreement with Sony in relation to the home entertainment sector through establishing a joint venture. Both parties will integrate their respective strengths in technologies, branding and supply chains to jointly build a new global home entertainment ecosystem, providing strategic support for expansion into the mid-to-high-end market.
In terms of the capital market, the Company is included for the first time in major indices including the “Hang Seng Composite Large-Cap & Mid-Cap Index” and the “Hang Seng SCHK Electronics Theme Index”. Meanwhile, the Company received investment-grade ratings from three international credit rating agencies, Moody’s, S&P Global Ratings and Fitch Ratings for the first time, demonstrating the international capital market recognition of the Company’s operating performance, profitability and risk management capabilities.
Premiumisation and Larger-Screen Upgrades Drive Strong Performance of Display Business in International Markets
In the first half of 2026, the Company’s TV business outperformed the industry, supported by its strong product competitiveness and global channel advantages. During the reporting period, revenue from the Company’s TV business amounted to HK$35.25 billion, representing a YoY increase of 24.3%; gross profit reached HK$6.79 billion, up 50.5% YoY; and gross profit margin increased by 3.4 p.p. YoY to 19.3%. In the first half of 2026, TCL TV’s global shipment market share reached 14.9%, up 0.7 p.p. YoY, maintaining its No.2 position globally. Its global sales revenue market share reached 13.4%, ranking among the top three globally[4]. Global shipment of Mini LED TVs, upgraded with SQD technology as their core, reached 2.43 million units, representing a YoY increase of 77.1%. Global shipment market share maintained No.1[5]. This further expanded the Company’s premium product portfolio and validated the effectiveness of the Company’s mid-to-high-end transformation and its global operating capabilities.
In terms of international markets, supported by the continued implementation of the mid-to-high-end strategy and targeted brand marketing, TCL TV’s revenue reached HK$25.44 billion, representing a YoY increase of 29.6% and accounting for as much as 72.2% of TCL TV’s total revenue. Gross profit increased by 70.6% YoY to HK$4.82 billion. The gross profit margin increased by 4.5 p.p. to 18.9%. In Europe, the penetration rate in key sales channels increased to 75%, driving revenue in the European market up by 17.2% YoY. In North America, revenue and ASP increased by 26.3% and over 18% YoY, respectively, driven by an improved product mix and a focus on mid- to high-end products. Driven by the on-going deepening of localised operations, revenue from emerging markets increased by 37.3% YoY, significantly outperforming the overall markets.
In PRC market, the Company outperformed the industry with its product competitiveness. Revenue increased by 12.5% YoY to HK$9.81 billion, while gross profit rose by 17.0% YoY to HK$1.98 billion in the first half of 2026. The shipment market share of Mini LED TV remained No. 1[6] in the industry, demonstrating strong operating resilience.
The Company’s small- and-medium-sized display business has been deeply engaged in the channels of leading network operators in Europe and the United States (“U.S.”). In the first half of 2026, revenue increased by 27.4% YoY to HK$5.81 billion, while gross profit increased by 31.6% YoY to HK$0.83 billion. The smart commercial display business leveraged the TV business’s globally leading resource advantages. In the first half of 2026, revenue increased by 23.2% YoY to HK$0.62 billion, while gross profit increased by 32.0% YoY to HK$0.07 billion.
Internet Business Sustains Strong Growth Momentum, Cumulative Users of TCL Channel Platform Reached Record High
In the first half of 2026, revenue from the Company’s internet business amounted to HK$1.69 billion, representing a YoY increase of 16.1%, while gross profit amounted to HK$1.03 billion, increasing YoY by 30.4%. Among these, the high-margin international internet business recorded YoY growth of 74.6% in revenue, accounted for over 50% of total revenue and drove the overall gross profit margin up to 61.1%, profitability continues to improve.
Leveraging the scale advantages of its TV end-products and asset-light operating model, the Company’s internet business deepened its cooperation with global internet giants including Google, Roku and Netflix. TCL Channel platform continued to enrich its content ecosystem, adding more than 110 local channels in the U.S., Brazil and France, viewing time for live-streaming content increased by 131% YoY. Its video-on-demand business launched more than 4,400 content items, with viewing time increasing by 106% YoY. At the end of June 2026, cumulative users of the platform exceeded 53.59 million, while total average daily usage time in Europe, North America and Latin America increased by 95% YoY. The increase in both user scale and engagement further strengthens the foundation for business monetisation.
Steady Growth in Photovoltaic Business, with TCL AiMe AI Companion Robot Pioneering a New Blue Ocean in Consumer Electronics Market
In terms of innovative business, the photovoltaic business maintained its “relatively asset-light” positioning, optimised its business structure, focused on profitability, and expanded into core markets with strong power absorption capacity, high electricity prices and stable returns. The international markets continued to focus on core European countries, leveraging the synergies between SunPower’s brand influence and TCL’s global channel resources to accelerate the product deployment and business expansion of its “integrated energy solutions for photovoltaics, energy storage and heating”. During the first half of 2026, revenue steadily increased by 2.3% YoY to HK$11.39 billion.
Capitalising on market opportunities arising from the convergence of AI and IoT, the Company launched TCL AiMe in August 2026. Designed to provide emotional companionship in home scenarios, TCL AiMe is the world’s first companion robot, featuring a modular design, human-like facial-expression interaction and whole-home voice collaboration. TCL AiMe is officially launched in August 2026 and is expected to open up a new blue ocean in the consumer electronics sector.
Acquisition of TCL Air Conditioning Business to Advance All-Category Smart Device Layout
On 15 July 2026, the Company announced its proposed acquisition of the business of TCL air conditioner for a total consideration of HK$5.61 billion. Subject to the fulfilment of the conditions precedent, the transaction is expected to be completed in the fourth quarter of 2026 and subsequently consolidated into the Company’s financial statements. The global HVAC market offers substantial growth potential, driven by multiple factors including the increasing prevalence of extreme weather, rising penetration rates in emerging markets and demand for energy-efficiency upgrades. Upon completion of the transaction, the acquisition is expected to effectively strengthen the Company’s earnings base. The Company will leverage its mature global sales network and localised operating capabilities to unlock synergies across globalisation, branding and supply chains for a valuation re-rating, and continue to enhance returns for shareholders.
Looking ahead, the Company will continue to consolidate its global business foundation, implement a clear premiumisation development path, strengthening the profit contribution from ecosystem businesses and cultivate diversified growth drivers. Leveraging its core strengths in global strategic layout, technological innovation, the all-category smart device ecosystem and the home entertainment platform jointly established with Sony, the Company will continue to unlock its operating potential, capitalise on industry development opportunities and achieve long-term, steady, sustainable and high-quality growth.
[1] Source: Omdia, global brand TV shipment data for 2026 H1.
[2] Source: Omdia, global brand Mini LED TV shipment data for 2026 H1.
[3] Overall expenses comprise selling and distribution expenses and administrative expenses.
[4] Source: Omdia, global brand TV shipment data for 2026 H1.
[5] Source: Omdia, global brand Mini LED TV shipment data for 2026 H1.
[6] Source: Omdia, global brand Mini LED TV shipment data for the first half of 2026.
– Ends –
About TCL Electronics
TCL Electronics Holdings Limited (01070.HK, incorporated in the Cayman Islands with limited liability) has been listed on the Main Board of The Stock Exchange of Hong Kong Limited since November 1999. Its business scope covers display business, innovative business, and internet business. Guided by the business philosophy of “Strategy Guidance, Innovation Driven, Advanced Manufacturing and Global Operation”, TCL Electronics actively embraces transformation and innovation and focuses on breaking into the mid-to-high-end global market, and strives for an all-category layout for the “Smart IoT Ecosystem”. Dedicated to providing users with all-scenario smart healthy living experiences, TCL Electronics aims to become a leading global intelligent terminal enterprise. TCL Electronics is included in the list of eligible shares for the Shenzhen-Hong Kong Stock Connect. It is a constituent stock of the Hang Seng Stock Connect Hong Kong Index, the Hang Seng Composite LargeCap & MidCap Index, and the “Hang Seng SCHK Electronics Theme Index”. Since 2018, the Company has been awarded an ESG rating of A by Hang Seng Indexes Company for several consecutive years.
For more information, please visit TCL Electronics’ investor relations website at http://electronics.tcl.com, or access the official WeChat account of TCL Electronics Investor Relations.
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SOURCE TCL Electronics Holdings Limited
Technology
MetaLight (02605.HK) Announces 2026 Interim Results: Net Loss Narrows Significantly, with Adjusted Net Profitability Sustained
Published
16 minutes agoon
August 28, 2026By
HONG KONG, Aug. 28, 2026 /PRNewswire/ — MetaLight Inc. (“MetaLight” or the “Company”; Stock Code: 02605.HK), a public transit information service provider powered by time series data analytics and AI technology, today announced its interim results for the six months ended June 30, 2026 (the “Reporting Period” or the “first half of 2026”). 2026
Interim Results Highlights
Total revenue was approximately RMB92.0 million, down approximately 5.1% year on year, mainly reflecting mobile internet market competition and phased commercialization adjustments to improve product experience.Gross profit was approximately RMB68.7 million, down approximately 9.3% year on year, with gross margin at approximately 74.6%.Net loss narrowed significantly to approximately RMB5.0 million from RMB125.5 million during the Reporting Period. Adjusted net profit (non-IFRS measure)(1) was approximately RMB13.1 million, down approximately 53.6%, mainly due to the revenue decline and severance expenses arising from phased organizational optimization.Chelaile’s cumulative users increased approximately 6.1% to 354 million; average monthly active users rose approximately 6% year on year to 32.0 million; and its average rating across six major app stores improved approximately 8.4% between January and June 2026.
Dr. Sun Xi, Chairman and Chief Executive Officer of MetaLight, stated: “In the first half of 2026, the Company remained focused on its core business and consolidated Chelaile’s product and user base, while continuing to extend the application of its public transit data and technological capabilities and steadily advancing TransitNow’s localization validation, the R&D of the Robobus operations support platform, and AI-related initiatives. The significant year-on-year narrowing of our net loss mainly reflected the non-recurrence of fair value losses on convertible redeemable preferred shares and listing-related expenses recognized in the corresponding period last year. Chelaile’s user base and engagement continued to grow, indicating that demand for the core product remains solid. We will continue to prudently balance improvements in product usage experience with greater commercialization efficiency, and use product and service value to drive improvements in our core business.
TransitNow and the Robobus operations support platform build on the Company’s existing public transit data and technological capabilities, while AI-related initiatives begin with product R&D and business collaboration. We believe that capability extension is reflected not only in products entering more markets and application scenarios, but also in whether technology can be embedded into more efficient ways of working across the organization. The Company continues to advance its AI-native organization, integrate AI Agents into R&D, testing and related workflows, and gradually apply proven methods and capabilities to its core business. The integration of AI with education and related industrial investment remain at an early stage. We will allocate resources based on actual needs, validation results and commercial feasibility, with long-term competitiveness and shareholder value as the ultimate measures.
Looking ahead to the second half of the year, the Company will continue to consolidate Chelaile’s product and user base and prudently advance business and market development based on its existing capabilities and resources. We will use verifiable phased outcomes as the basis for assessment, validate new development directions while improving our core business, and communicate the Company’s actual progress with shareholders in a timely and candid manner.”
2026 Interim Financial Review
Revenue
The Group’s revenue decreased from approximately RMB97.0 million for the six months ended June 30, 2025 to approximately RMB92.0 million for the six months ended June 30, 2026. Revenue from mobile advertising services was approximately RMB89.5 million, representing a year-on-year decrease of approximately 5.0%, while revenue from data technology services was approximately RMB2.5 million. The decrease in revenue primarily reflected competitive conditions in the mobile internet market and the Group’s adjustments to certain advertising inventory and display frequencies during the Reporting Period to reduce advertising disruption to users and improve product usage experience. These adjustments had a short-term impact on mobile advertising revenue, resulting in a decrease of approximately RMB4.7 million. The relevant display frequencies gradually stabilized during the Reporting Period.
Gross Profit and Gross Margin
Gross profit decreased by approximately 9.3% from approximately RMB75.7 million for the six months ended June 30, 2025 to approximately RMB68.7 million for the six months ended June 30, 2026. Gross margin decreased by approximately 3.5 percentage points from approximately 78.1% for the six months ended June 30, 2025 to approximately 74.6% for the six months ended June 30, 2026. The decrease in gross profit and gross margin was mainly due to an increase in cost of sales, which rose by approximately RMB2.0 million from approximately RMB21.3 million to approximately RMB23.3 million, and increased as a percentage of revenue from approximately 22.0% to approximately 25.4%, primarily reflecting higher cross-network advertising fees and server rental costs.
Selling Expenses
Selling expenses increased slightly from approximately RMB18.7 million for the six months ended June 30, 2025 to approximately RMB18.8 million for the six months ended June 30, 2026, primarily due to an increase in sales personnel costs.
Administrative Expenses
Administrative expenses decreased from approximately RMB38.0 million for the six months ended June 30, 2025 to approximately RMB30.4 million for the six months ended June 30, 2026, primarily because one-off listing-related administrative expenses incurred in the corresponding period last year did not recur during the Reporting Period.
Research and Development Expenses
Research and development expenses were approximately RMB24.8 million for the six months ended June 30, 2026, representing an increase of approximately RMB3.2 million from the corresponding period last year, primarily due to an increase in R&D personnel costs.
Net Loss and Adjusted Net Profit during the Report Period
Net loss for the Reporting Period was approximately RMB5.0 million, compared with approximately RMB125.5 million for the corresponding period last year. The significant narrowing was mainly attributable to the non-recurrence of fair value losses on convertible redeemable preferred shares and listing-related expenses recognized in the corresponding period last year.
Adjusted net profit (non-IFRS measure)(1) was approximately RMB13.1 million, representing a decrease of approximately 53.6% from approximately RMB28.2 million for the corresponding period last year. The decrease mainly reflected a slight decline in revenue and severance compensation expenses arising from the phased optimization of the Group’s organizational and personnel structure during the Reporting Period. The relevant adjustments for this phase were largely completed during the Reporting Period, and the associated severance compensation expenses were also mainly incurred during the Reporting Period.
Cash Position
As of June 30, 2026, the Group had cash and cash equivalents of approximately RMB40.9 million and time deposits of approximately RMB175.8 million. Net cash used in operating activities during the Reporting Period was approximately RMB4.0 million.
Note: (1) The Group defines adjusted net profit (non-IFRS measure) as profit or loss for the period adjusted to exclude the effects of fair value losses on financial liabilities at fair value through profit or loss, listing expenses, loss on disposal of equity investments, fair value changes of equity investments measured at fair value through profit or loss, one-off external donation expenses and share-based payment expenses for equity-settled share option schemes.
2026 Interim Business Review
During the Reporting Period, the Group continued to focus on its real-time public bus information service, prioritizing the consolidation of its product and user base while continuing to extend the application of its public transit data and technological capabilities. Beyond the core business, these capabilities are gradually extending to TransitNow, demand-responsive public transport, and the operations support platform for autonomous-driving public bus (Robobus). AI-related initiatives include AI technology reserves, the development of an AI-native organization and the AI-focused venture capital fund. As these businesses are at different stages of development, the Group will advance them prudently based on actual progress, product performance, resource requirements and commercial feasibility.
In its core business, in response to intensifying competition in the mobile internet market, the Group made the consolidation of Chelaile’s product and user base a current operating priority. Taking into account external feedback and product experience assessments, the Group adjusted certain advertising inventory and display frequencies during the Reporting Period to reduce advertising disruption to users and improve product usage experience. The relevant display frequencies gradually stabilized during the Reporting Period. During the same period, Chelaile’s average rating across six major app stores increased by approximately 8.4% in June 2026 compared with January 2026. As of June 30, 2026, the service covered 484 cities and towns under a unified basis that excludes duplicate counting; cumulative users increased to approximately 354 million, representing growth of approximately 6.1% from the end of 2025; and average monthly active users during the Reporting Period reached approximately 32.0 million, representing year-on-year growth of approximately 6%.
In its overseas business, TransitNow was launched on iOS and Android platforms in mid-April 2026. It is currently available in Singapore, Hong Kong, Melbourne, Sydney, Brisbane, Kuala Lumpur and other supported cities. TransitNow is an extension and upgrade of the Group’s original Busio business, using a standalone technical architecture developed specifically for overseas business scenarios. Service continuity for existing users was preserved during the migration. The overseas business remains in an early promotion and localization validation stage. The Group will continue to monitor product usage, data integration and market feedback, and refine its product and operational arrangements accordingly.
In public transit service scenarios, the Group continued to develop its public transit analytics platform and demand-responsive public transport services. Demand-responsive public transport has been implemented in more than 20 cities in China, covering more than 60 service areas and generating cumulative service orders exceeding 10 million. During the Reporting Period, the Group also participated in the research and content drafting of the Demand-Responsive Public Transport Technology and Service Guidelines led by the China Academy of Transportation Sciences.
In autonomous-driving public bus (Robobus), the Group positions itself as a technology service provider that empowers public transport operators in their transition to Robobus operations. During the Reporting Period, the Group carried out solution design and R&D for the Robobus operations support platform, focusing on capabilities including vehicle operation monitoring, abnormal incident handling support and operational analytics. The platform is designed to provide underlying data intelligence and decision support for public transport operators. This direction remains at an early stage, and further progress is subject to product validation, cooperation arrangements, regulatory requirements and commercial feasibility.
In developing its AI capabilities, the Group continued to advance research and innovation and their practical application in its products. A peer-reviewed paper co-authored by the Group on bus arrival prediction was accepted to the KDD 2026 Applied Data Science Track, and the relevant method has been applied to Chelaile’s arrival prediction service. In one week of online validation across two cities served by Chelaile, the method reduced storage usage by approximately 90% and CPU usage by approximately 25%, while maintaining broadly comparable prediction performance. The Group also continued to advance the development of an AI-native organization and deepen the application of AI Agents in R&D, testing and related workflows; these initiatives remain under ongoing validation and iteration.
In AI-related investment, the AI-focused venture capital fund in which the Group participated has completed private investment fund filing and entered the project screening stage. As of June 30, 2026, the fund had completed one investment project. The Group will prudently advance the relevant work based on the fund’s operations and project progress.
Future Outlook
Looking ahead to the second half of 2026, the Group maintains a prudent stance on the short-term trajectory of the mobile advertising market. In its core business, the priority for the second half will be to prudently improve monetization efficiency and optimize the revenue mix, while consolidating Chelaile’s product and user base and continuing to improve product usage experience. The Group will use AI algorithms to optimize advertising inventory pricing strategies and placement accuracy, expand its network of programmatic advertising platform partners, reach long-tail advertisers, and gradually improve its client mix and revenue mix. In data technology services, the Group will prudently undertake projects after considering delivery resource alignment and commercial returns, and explore ways to increase the contribution of the related revenue. On the user side, Chelaile will continue to deepen its presence in third-tier and lower-tier cities and, subject to filing progress, gradually make natural language interaction and other functions available, advancing the product’s evolution toward an intelligent travel assistant. Genuine demand for public transit travel exists over the long term, and product and service value remain the foundation for improving the core business.
In its innovative businesses, the Group will advance TransitNow’s localized operations and market development at a measured pace based on actual validation results and resource requirements, continue the R&D and solution validation of the Robobus operations support platform, and prudently advance the subsequent work of the AI-focused venture capital fund based on the fund’s operations and project progress. These businesses are at different stages of development, and their progress remains subject to product readiness, user demand, cooperation arrangements, regulatory procedures, investment progress and commercial feasibility. The Group will use verifiable phased outcomes and commercial feasibility as the basis for subsequent assessment and resource allocation.
The Group will continue to be guided by users’ actual needs, enhance product and service value, and optimize resource allocation based on the actual progress and commercial feasibility of each business.
About MetaLight
MetaLight Inc. (Stock Code: 02605.HK) is a public transit information service provider powered by time series data analytics and AI technology. Guided by its mission of serving the public through advanced technology, the Company has independently developed a time series intelligence technology system centered on an AI Model Building Platform and AI model libraries for three industry verticals: public bus, renewable energy and industrial internet. The system integrates capabilities in large-scale data access, pre-processing, labeling, model training and foundation model adaptation. Based on this technology system, the Company operates the Chelaile real-time public transit information platform, providing commuters with real-time bus arrival predictions, vehicle location tracking and travel route planning, while also offering public transit analytics platforms and data technology services to transport operators. According to CIC data as of December 31, 2024, Chelaile was the largest real-time public transit information platform in China by city coverage. As of June 30, 2026, it covered 484 cities and towns nationwide with approximately 354 million cumulative users, committed to making public transit more convenient and efficient. For more information, please visit www.metalight.ai.
Forward-Looking Statements
In addition to statements of historical fact, this press release contains forward-looking statements relating to the Company’s business outlook, estimates of financial performance, forecast business plans, development strategies and projections of anticipated trends in our industry. Forward-looking statements can generally be identified by the use of forward-looking terminology such as “may,” “might,” “can,” “could,” “will,” “would,” “expect,” “believe,” “continue,” “estimate,” “anticipate,” “forecast,” “intend,” “plan,” “seek” or “timetable.” Such forward-looking statements are based on the information available to the Company and the outlook as at the time of publication of this press release. Such forward-looking statements are based on certain projections, assumptions and premises, some of which involve subjective factors or factors beyond our control. Such forward-looking statements may prove to be inaccurate and may not materialize in the future. Such forward-looking statements involve a number of risks and uncertainties. In view of the risks and uncertainties, forward-looking statements contained in this press release should not be construed as representations by the Board or the Company that such plans and objectives will be achieved, and investors should not place undue reliance on such statements. Except as required by law, neither the Company, its Board, employees nor agents assume any obligation to publicly release any revisions, corrections or updates to the forward-looking statements contained in this press release to reflect events or circumstances occurring after the date of this press release or unanticipated events, nor do they assume any liability for any losses arising from the failure to realize or inaccuracy of any forward-looking statements.
Investor and Media Inquiries
MetaLight Inc.
Investor Relations
Email: ir@metalight.ai
Condensed Consolidated Statement of Profit or Loss
For the six months ended June 30, 2026
2026
RMB’000
(Unaudited)
2025
RMB’000
(Unaudited)
Revenue
92,005
96,973
Cost of sales
(23,328)
(21,289)
Gross profit
68,677
75,684
Other income and gains
4,225
2,223
Selling expenses
(18,819)
(18,649)
Administrative expenses
(30,440)
(37,976)
Research and development expenses
(24,818)
(21,633)
Reversal of impairment losses on financial assets, net
463
712
Fair value loss on financial liabilities at fair value through profit or loss
–
(119,202)
Other expenses and losses
(6,457)
(4,246)
Finance costs
(154)
(478)
Share of profits of joint ventures
844
–
Loss before tax
(6,479)
(123,565)
Income tax credit/(expense)
1,447
(1,940)
Loss for the period
(5,032)
(125,505)
Attributable to:
Owners of the Company
(4,930)
(125,505)
Non-controlling interests
(102)
–
(5,032)
(125,505)
Loss per share attributable to ordinary equity holders of the Company
Basic (RMB)
(0.03)
(1.69)
Diluted (RMB)
(0.03)
(1.69)
Condensed Consolidated Statement of Financial Position
As of June 30, 2026
June 30, 2026
RMB’000
(Unaudited)
December 31, 2025
RMB’000
(Audited)
NON-CURRENT ASSETS
Property and equipment
912
1,138
Right-of-use assets
2,134
3,258
Intangible assets
183
231
Investments in joint ventures
41,638
–
Investment in an associate
–
–
Prepayments, other receivables and other assets
8,484
4,965
Financial investments
18,097
17,293
Deferred tax assets
9,890
8,443
Total non-current assets
81,338
35,328
CURRENT ASSETS
Trade receivables
35,466
42,473
Prepayments, other receivables and other assets
19,457
21,091
Financial investments
18,562
55,113
Time deposits
175,794
206,885
Cash and cash equivalents
40,948
38,693
Total current assets
290,227
364,255
CURRENT LIABILITIES
Trade payables
4,295
5,857
Contract liabilities
368
235
Other payables and accruals
9,372
24,731
Interest-bearing bank borrowings
–
10,000
Lease liabilities
1,167
2,216
Income tax payable
–
8
Total current liabilities
15,202
43,047
Net current assets
275,025
321,208
Total assets less current liabilities
356,363
356,536
NON-CURRENT LIABILITIES
Lease liabilities
97
203
Total non-current liabilities
97
203
Net assets
356,266
356,333
EQUITY
Share capital
109
109
Reserves
355,554
356,224
Equity attributable to owners of the Company
355,663
356,333
Non-controlling interests
603
–
Total equity
356,266
356,333
Non-IFRS Financial Measures
For the six months ended June 30
Unit: RMB’000
2026
2025
Loss for the period
(5,032)
(125,505)
Adjusted for:
Fair value loss on financial liabilities at fair value through profit or loss
–
119,202
Listing expenses
–
17,499
Loss on disposal of equity investments
–
–
Fair value changes of equity investments at fair value through profit or loss
1,019
3,712
External donation expenses
5,000
–
Share-based payment expenses for equity-settled share option schemes
12,099
13,275
Adjusted net profit (non-IFRS measure)
13,086
28,183
Note: For the definition of adjusted net profit (non-IFRS measure), please refer to note (1) above. External
donation expenses were newly added as an adjustment item for the current period; no related expenses were
incurred in the corresponding period in 2025.
View original content:https://www.prnewswire.com/apac/news-releases/metalight-02605hk-announces-2026-interim-results-net-loss-narrows-significantly-with-adjusted-net-profitability-sustained-302862890.html
SOURCE MetaLight Inc.
Technology
Invisors ranks no. 12 on the Atlanta Business Chronicle 2026 Best Places to Work list
Published
16 minutes agoon
August 28, 2026By
ATLANTA, Aug. 28, 2026 /PRNewswire/ — Atlanta Business Chronicle revealed that Invisors, a Workday Services Partner, is ranked no. 12 on its 2026 Best Places to Work list in the medium company category. This marks Invisors’ sixth consecutive year on the list, which recognizes companies in the metro-Atlanta area that successfully go above and beyond for their employees.
In a research-backed employee experience survey conducted by Quantum Workplace, Atlanta employees were surveyed on Invisors’ work environment, people practices and other measures. Invisors’ placement is based on the responses submitted by it’s employees. Read more about the values and practices that make Invisors who they are at invisors.com/company-overview.
“When Invisors was founded, we were a small team with a big vision. Today, we’ve grown to more than 475 team members globally, and we believe that growth starts with hiring exceptional people and creating an environment where they want to stay, grow and build something together,” shares Will Hardy, Managing Partner at Invisors. “As our company continues to evolve, we’re investing in innovation, including how we help our people and customers take advantage of AI. Being recognized as a Best Place to Work is a meaningful reflection of the culture our team has built, and we’re excited to continue creating opportunities for our people to learn, innovate and shape what’s next.”
Atlanta has always been central to Invisors’ story. With its headquarters and largest employee base located here, the city’s energy and drive for innovation show up in the way the company works. Invisors is proud to be part of the community and to consistently be recognized alongside other leading employers. Learn more about Invisors’ efforts to engage with the community at invisors.com/community.
This year, Invisors has received several recognitions based on revenue, growth and employee-satisfaction, including the Inc. 5000 Fastest-Growing Private Companies in America, South Florida’s Best Places to Work list and Great Place to Work US certification. Additionally, Invisors was recognized by the University of Florida for our Corporate Partnership. These awards highlight Invisors’ dedication to a meaningful company culture and our team’s values. We are proud to invest in our people as much as we do in our business. Discover the latest Invisors news and recognitions at Invisors at https://www.invisors.com/news.
About Invisors
As a certified Workday Services Partner, Invisors helps customers utilize their organizational data to make better-informed business decisions through the deployment of Workday. Invisors’ success is measured by their clients’ ability to achieve their big-picture vision. From initial deployments to ongoing projects, Invisors is dedicated to elevating perspectives and transforming results. Learn more by visiting invisors.com.
View original content to download multimedia:https://www.prnewswire.com/news-releases/invisors-ranks-no-12-on-the-atlanta-business-chronicle-2026-best-places-to-work-list-302862872.html
SOURCE Invisors
TCL Electronics (01070.HK) Delivers Strong Growth in 2026 Interim Results
MetaLight (02605.HK) Announces 2026 Interim Results: Net Loss Narrows Significantly, with Adjusted Net Profitability Sustained
Invisors ranks no. 12 on the Atlanta Business Chronicle 2026 Best Places to Work list
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