Paradigm 2025 Earnings Report | Total Revenue RMB 7.135 Billion, Up 35.6% Year-on-Year, Achieves Turnaround to Profitability

Today (March 30), Paradigm released its 2025 earnings report. The report shows that during this period (as of December 31, 2025), Paradigm's total revenue reached RMB 7.135 billion, achieving high-speed growth compared to the same period last year, with an increase of approximately 35.6%. Adjusted net profit attributable to shareholders was RMB 17.84 million, marking a turnaround from losses to profitability. The company has achieved triple improvements in operational efficiency, business model, and development resilience.

Notably, 2025 is also a milestone year for the company's development. This year, the company completed a comprehensive strategic upgrade from 'Fourth Paradigm' to 'Paradigm Group,' achieving a full transition from an enterprise-level AI platform to a full-stack AI ecosystem. The three core business segments—AI Platform, API, and Agentic AI—worked synergistically, generating revenues of RMB 6.552 billion, RMB 0.8 billion, and RMB 5.03 billion respectively, with year-on-year growth rates of 32%, 129.2%, and 93.2%. This performance breakthrough reflects the accuracy of Paradigm's long-term commitment to AI development philosophy and strategic judgment, demonstrating the company’s forward-looking vision for industry development and its ability to create long-term value.

In 2025, the three core business segments—AI Platform, API, and Agentic AI—formed a new growth pattern driven by multiple engines, mutually empowering each other and jointly promoting the company's high-quality development.

AI Platform continues to be the core driving force behind business growth

Benefiting from the continued strong demand for domestic substitution and the promotion of the 'AI+' initiative, AI Platform, as the company's core business segment, leverages its full-stack product system and leading market position to achieve deep synergy between computing power operations and platforms, lowering the threshold for customers' AI implementation. Meanwhile, relying on a comprehensive technical system and core customer resources, it effectively drives the company’s performance improvement, providing strong support for breaking through annual profitability.

At the product level, the company continues to advance technological iteration and upgrades, focusing on three core products: ModelHub XC, HAMi vGPU, and PhanthyCloud.

PhanthyCloud, as the core carrier of a full-stack AI PaaS cloud service, is committed to integrating various AI capabilities to provide customers with convenient and efficient cloud-based AI services. Currently, PhanthyCloud has achieved seamless integration with ModelHub XC and HAMi vGPU, delivering core capabilities such as model adaptation and computing power scheduling while being fully compatible with various mainstream domestic chips, helping customers efficiently complete their AI digital transformation.

HAMi vGPU, as the core product for GPU resource management, enables flexible sharing and scheduling of GPU resources, allowing customers to flexibly select GPU configurations based on business needs, significantly improving resource utilization.

ModelHub XC is currently the largest domestic innovation model community, aiming to promote the deep adaptation of domestic chips and AI models. As of now, ModelHub XC has adapted over 30,000 models, with a goal to adapt more than 1 million models by 2027.

API business becomes the strongest growth engine

With the scaled application of AI Agents, token consumption is showing exponential growth. The company’s API business, leveraging a flexible 'pay-per-use' model and a comprehensive product ecosystem, along with cross-product versatility and core customer demand, has achieved leapfrog growth, becoming the fastest-growing business segment within the group. Notably, the API business revenue in the first quarter of 2026 has already surpassed the total revenue of 2025, and international business revenue in this sector is expected to grow several times over in the next year.

The API business uses Phanthy Pantheon as the core platform, working with PhanRouter and PhanClaw to build an end-to-end paid ecosystem and achieve deep integration with the Prophet Platform.

Phanthy Pantheon, as the core platform of the token payment ecosystem, integrates cloud services and over 30,000 adapted models, including industry-specific vertical models, providing low-threshold API capabilities that cover hundreds of millions of end-user products, facilitating large-scale implementation of AI technology.

PhanRouter, as a unified gateway product for large-model APIs, helps developers and enterprises seamlessly connect to dozens of mainstream model providers, compatible with OpenAI standards and mainstream domestic chips. It supports private deployment and on-demand token invocation, reducing customer costs and operational complexity.

PhanClaw is an Agent platform deeply integrated into Phanthy Cloud, serving as an extension of the OpenClaw ecosystem. It aims to provide users with comprehensive, controllable, and cost-effective digital assistant services. Working in synergy with Phanthy Pantheon and PhanRouter, it assumes full lifecycle security control of tokens, covering risk prevention, permission allocation, and log auditing, meeting the high-security standards required by industries such as finance and government affairs.

Agentic AI business supports long-term steady growth

The Agentic AI business, as the core foundation of the company's revenue, acts as a 'value multiplier' enabling thousands of industries. By implementing a 'pay-for-results' model and aligning with the national 'AI+' high-quality energy development policy, the company focuses on expanding into high-value industries, achieving rapid business expansion and significant scale effects. Meanwhile, it creates synergies with the AI Platform and API businesses, providing long-term stable support for the company’s revenue and driving high-quality overall business growth.

In terms of business expansion, the company concentrates on core scenarios such as short-term power spot trading and medium-to-long term power transactions, creating an end-to-end AI solution encompassing 'prediction-decision-risk control-review.' This solution has been successfully implemented in multiple pilot provinces within the power sector and recognized by key clients, effectively aiding in improving quality, efficiency, and profitability across the three sub-sectors of wind power, photovoltaics, and energy storage. Currently, this model is rapidly being extended to more sectors like manufacturing and finance.

Looking ahead to 2026, the company will continue to deepen its focus on four strategic directions: advancing AI 2.0 initiatives, accelerating the deployment of industrial-grade AI Agents, fully promoting internationalization, and continuously expanding the consumer market.

In the AI 2.0 strategy, guided by the core concept of 'AI for Everyone,' the company emphasizes fundamental technology research and scenario implementation, perfecting the full-chain technological system to lower the threshold for AI applications, benefiting more enterprises and users. In accelerating the deployment of industrial-grade AI Agents, the 'pay-for-results' model remains central, deepening the focus on key areas such as energy and finance, creating scalable and replicable industry solutions to enhance business scale and profitability. For international expansion, the company continues to strengthen collaborations with overseas brands and channels, building a robust overseas operational framework to support global business layout. In the consumer market, the company addresses core consumer demands by launching smart terminal products with high user experience, further expanding user reach and establishing a dual-driven growth model of 'technology + market.'

Dai Wenyuan, founder of Paradigm, stated that after officially entering the AI 2.0 era and facing a new wave of AI industrial development, we will continue to focus on 'AI Agent + World Model' as our technological core, strengthening computational power and foundational technology strategies to drive deeper realization of AI value. Together with our ecosystem partners, we aim to build a sustainable intelligent future.

Paradigm Group $PHANCY (06682.HK)$ A globally leading general artificial intelligence technology enterprise, with the mission of 'AI for everyone,' it empowers various industries through the technical approach of 'AI Agent + World Model.' Founded in 2014, the company completed its group transformation in 2025, comprising business units such as enterprise services (Fourth Paradigm), large models and AGI (Pantheon), consumer electronics (Paradigm Navigation), smart energy (Paradigm Ark), and smart sports (Paradigm WebMotion). To date, the company has successfully implemented over ten thousand AI applications in fields such as finance, retail, and healthcare, consistently working towards making AI accessible and helping businesses achieve sustainable growth.

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