Achieved the first full-year GAAP net profit in company history, marking a successful transition to a pure SaaS business model.

Revenue growth was primarily driven by the developer subscription services segment, which reached a record RMB 61.9 million in Q4.

The global flagship product, EngageLab, served as the primary growth engine, achieving a USD 10 million ARR milestone with 186% year-over-year growth.

Management attributed success to the strategic decision in 2022 to venture into overseas markets rather than relying solely on domestic demand.

Gross profit expansion of 23% outpaced revenue growth of 13%, reflecting a shift toward higher-margin, high-quality revenue streams.

Operational efficiency improved significantly, evidenced by a 37-day accounts receivable turnover and the highest operating cash inflow since 2020.

The company expanded its global footprint into 18 new countries during Q4, bringing the total reach to over 70 countries and regions.

Full-year 2026 revenue guidance is set between RMB 450 million and RMB 480 million, implying 20% to 28% year-over-year growth.

Management expects the EngageLab revenue growth momentum to be sustained for at least the next 24 months.

The strategic roadmap for 2026 focuses on 'growth acceleration' through continued global expansion and disciplined financial management.

Future growth phases are expected to be driven by a new AI strategy intended to complement the existing SaaS infrastructure.

Guidance assumes stable domestic business performance and continued effective utilization of the 17-partner global ecosystem.

Market Intelligence revenue declined 24% year-over-year, which management attributed to continued weak demand for Chinese app data.

Value-Added Services saw a 101% sequential increase driven by seasonal shopping festivals, despite a 13% year-over-year decline.

The company maintained its share repurchase program, buying back 73,000 ADSs in Q4 for a cumulative total of 400,000 ADSs.

Deferred revenue reached a historical high of RMB 178.7 million, which management views as a key indicator of predictable future revenue and customer loyalty.

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Management highlighted the 'courage to venture outside the comfort zone' by initiating overseas expansion in 2022 without prior international infrastructure.

The company made a 'monumental shift' by building EngageLab as a brand-new product with distinct specs for global markets rather than repurposing domestic tools.

Total organizational alignment ensured that investment in global data centers and infrastructure was balanced with financial discipline.

Management expressed high confidence based on the 'fruit of hard labor' from the past three years, noting that growth is now 'very certain' due to the solid foundation laid.

The business model is now characterized by four pillars: proven GAAP profitability, stable domestic growth, EngageLab as the primary growth driver, and a forthcoming AI strategy.

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