Minglue Technology-W (02718)'s revenue in the first half of the year increased 18.02% year-on-year to about 760 million yuan, and the smart device business surged sixfold

According to the Zhitong Finance App, Minglue Technology-W (02718) announced its 2026 interim results, with revenue of about 760 million yuan, up 18.02% year on year; gross profit of about 390 million yuan, up 8.31% year on year; loss for the period was 64.227 million yuan, narrowing 68.5% year on year.

Among them, revenue from the intelligent services business increased by about 605.7% year on year to 171 million yuan, which is the main driving force for revenue growth. Relying on self-developed AI agents, the company focuses on the core social media marketing needs of customers, extends AI capabilities from planning strategy generation to content production and execution, and guides the service model from process output to result driven by the achievement of customer key performance indicators. The deep application of AI technology has significantly improved the efficiency of delivery teams, the number of customers has grown rapidly, and the commercial viability of the pay-for-performance model has been further verified. In the data intelligence business, revenue from marketing intelligence services increased 4.2% year-on-year to 344 million yuan, mainly due to the incremental contribution of new products and services during the reporting period. In an environment where the overall marketing investment of enterprises tends to be prudent, marketing intelligence services have achieved positive growth, reflecting the rigidity of customer demand for quantifiable marketing results. The intelligent operation service achieved revenue of 243 million yuan. The smart store operation system covered more than 75,000 offline stores, and the management scale continued to expand.

According to the announcement, the narrowing of losses was mainly due to non-cash items such as changes in the fair value of preferred shares, warrants and convertible notes during the same period last year. During the reporting period, such effects weakened significantly, and the company's capital structure continued to be optimized. At the same time, the company insisted on investing in the future. R&D expenditure increased by 52.3% year-on-year to 229 million yuan during the reporting period, further advancing the process of model and smart device technology research and commercialization. The company will continue to adhere to a technology-driven and innovation-led development path, deepen the digital intelligence transformation layout, and continuously improve the quality and efficiency of operations.

During the reporting period, the company insisted on independent innovation in core technology, launched Octo, the world's first open source and trusted agent collaboration network, promoted open source opening of the end-side model, and achieved phased progress in self-developed Scaling Out-side inference solutions. In the field of embodied intelligence, the company focuses on the direction of VLM/VLA (visual language model/ visual language-action model), continues to explore key technologies such as multi-modal perception, intelligent reasoning and planning, and forwardly lays out technical capabilities for intelligent interaction with the physical world. Octic, the first AI native hardware, was released on time. The technical capabilities and product system continued to be improved, and the ability base for large-scale implementation of intelligent devices became more solid. Deeply grasping the changing needs of enterprises to reduce costs and increase efficiency and focus on effectiveness, the company accurately responds to customer demands with a pay-for-performance model to help customers spend a prudent budget with a definite return. The forward-looking nature of the business model has been verified against the trend. At the capital operation level, the company was officially incorporated into the Hong Kong Stock Connect on June 2, 2026, and the channels for market participation were further smoothed; it signed an acquisition agreement on July 29, 2026 and transferred to Pulian Software (300996. SZ) has 19.07% shares. AI capabilities and industry accumulation are deeply integrated and empowered in both directions. The breadth and depth of the company's intelligent transformation in service to the real economy has risen simultaneously, and the strategic layout for the new form of the smart economy is being fully developed.