Deshi Technology (02526) model service revenue surged 101.1% in the first half of the year, and the share of total revenue rose to 86.9%

The Zhitong Finance App learned that on August 7, Deshi Technology (02526) released its 2026 interim results, showing that during the reporting period, the company achieved total operating revenue of about 109 million yuan, an increase of 21.0% year on year; model service revenue of 94.5 million yuan, up 101.1% year on year, accounting for about 86.9% of total revenue; and overall gross margin of 74.1%.

Deshi Technology is the only listed company in the Hong Kong stock and A-share markets focusing on large-scale medical AI models and applications. During the reporting period, model service revenue grew rapidly and became the main source of revenue, indicating that the company's business layout with the iMediimage® medical imaging base model as the core and superimposed data platforms and model services is entering the commercial verification stage. In the same period, revenue from medical imaging software and medical devices was about 11 million yuan, which was under phased pressure. Mainly, some customers waited for AI AutoVision® to be approved and the upgrade plan was evaluated. The relevant tenders were postponed until the second half of the year, and the revenue for the whole year is worth looking forward to.

As of the reporting period, the company has formed a total of 158 specialist sub-models, of which 145 special models have been operated in 87 top three hospitals, and the products and services cover more than 400 medical institutions. The AI AutoVision® chromosome karyotype image-assisted diagnostic software obtained a Class III medical device registration certificate from the State Drug Administration in May this year.

With the continuous accumulation of model capabilities and platform ecosystem, Deshi Technology has officially entered a new stage of the “Medical Imaging AI Research and Production Acceleration Platform” — with self-developed iMediimage® medical imaging base models as the core, superimposing data platform capabilities, and outputting specialist models and services upward. It has formed a complete closed-loop ecosystem of “base model - specialist model - service and product - actual application feedback - model iteration”. This flywheel is spinning at an accelerated pace, driving the continuous deepening of commercial verification.

The company said that in the future, it will continue to promote base model iteration, specialist model development, and hospital scenario deployment, and promote the expansion of medical imaging AI from single-point products to platform-based and large-scale applications. It is worth noting that the company is expected to be included in the Hang Seng Composite Index in late August and officially included in the Hong Kong Stock Connect trading list around September 7. At that time, the company's stock liquidity and trading activity are expected to further increase.