WEIMOB INC aims to achieve approximately 1.339 billion yuan in revenue in 2024 through the synergy of AI and the WeChat ecosystem, with continuous improvement in operating cash flow

According to the Zhitong Finance APP, WEIMOB INC (02013) announced its 2024 performance, achieving revenue of approximately 1.339 billion yuan, gross profit of approximately 596 million yuan, and an adjusted net loss of approximately 533 million yuan, a year-on-year narrowing of 3%. Among them, subscription solutions revenue was approximately 919 million yuan, with the number of paying merchants at 62,924. Smart retail revenue was approximately 618 million yuan, a year-on-year increase of 0.7%, with a year-on-year organic growth of 5.2%, accounting for 67.2% of subscription solutions revenue. Overall average revenue per user increased by 4.2% to 14,598 yuan. During the reporting period, the company actively explored the integration of AI technology with its core business. WEIMOB WAI has successfully connected with over 10 major model platforms, including DeepSeek, Tencent Hunyuan, and Tongyi Qianwen, and has deployed a matrix of 15 AI Agent products targeting industries such as e-commerce and retail. Driven by the capabilities of AI Agents, the monthly active customer count of WEIMOB WAI increased by 74.0% month-on-month, the usage frequency of core functions increased by 248.0% year-on-year, and the adoption rates of AI-generated copy and images increased by 53.4% and 13.4% year-on-year, respectively. The Q&A accuracy rate of the WEIMOB WAI intelligent assistant system reached 88.2%. WEIMOB also officially launched the AI product "WIME" for small and micro e-commerce practitioners, enhancing efficiency across the entire e-commerce operation chain, with an 80% improvement in product material creation efficiency, a 50% increase in store listing speed, and a 60% reduction in team operation costs. During the 2024 Double Eleven shopping festival, the number of active users of WIME increased by over 20%, usage increased by 37.8%, and AI image creation surged by 309.7%. As of December 31, 2024, WIME had accumulated 48,905 registered users, with monthly payment rates and monthly active user numbers continuing to rise, with single-month increases of up to 29.2% and 116.6%, respectively. By focusing on its main business and proactively reducing low-quality operations, along with the steady growth of its smart retail business, the company successfully transformed into a large customer-focused model in 2024. During the reporting period, the company's influence in the large customer market further increased, accounting for 48% of the top 100 fashion retailers in China, 50% of the top 100 commercial real estate firms, and 42% of the top 100 convenience store chains. The number of merchant accounts using integrated solutions (retail + membership + corporate WeChat) increased by 59% year-on-year, and the number of clients with a million-member scale grew by 28% year-on-year, while those with a ten-million-member scale increased by 20% year-on-year. During the reporting period, the company demonstrated significant growth potential in the collaboration with video account influencers. In 2024, the GMV of video account influencers served by the group surged to nearly 300 million, with the number of deeply incubated influencers increasing nearly 7.5 times, and one influencer reaching a single event GMV of ten million, maintaining industry-leading levels. We also provided daily training services for various types of streamers, including lifestyle, food, and drama, with an average single event GMV increase of 400%; we offered "from 0 to 1 incubation" services for influencers, assisting them in gaining over 100,000 followers per month and achieving over 45 million views on short videos. For the entire year of 2024, the group's operating cash flow improved significantly from an outflow of approximately 596 million yuan in the same period last year to an outflow of approximately 332 million yuan, marking a substantial narrowing for three consecutive years, primarily due to the optimization of cash flow from merchant solutions and the reduction of losses in subscription solutions Especially in terms of merchant solutions, the company has adjusted its customer structure, reducing the proportion of gross income from long-term accounts receivable, thereby decreasing the amount of capital occupied and the time cost; at the same time, the company actively communicated with existing customers and successfully shortened the payment terms for some clients. Through these measures, the company has not only improved the turnover rate of accounts receivable but also significantly enhanced the cash inflow from merchant solutions, ensuring financial health and operational efficiency