Bairong Inc. reports strong revenue and profit growth in first half 2025

Bairong Inc. reported a 22% increase in total revenue, reaching RMB1,611.80m for the six months ended June 30, 2025, up from RMB1,321.35m in the same period of 2024. Gross profit also rose by 22% to RMB1,182.43m from RMB967.16m, maintaining a gross profit margin of 73%. Profit for the period increased by 41% to RMB201.22m, while non-IFRS profit grew by 29% to RMB254.45m, with a non-IFRS profit margin of 16%.

The growth was driven by a 19% increase in MaaS revenue to RMB501.94m and a 45% increase in BaaS – Financial Scenario revenue to RMB856.96m. BaaS – Insurance Scenario revenue, however, decreased by 19% to RMB252.90m. Research and development expenses increased by 33% to RMB301.54m, reflecting increased investments in AI, while sales and marketing expenses grew by 20% to RMB606.28m. The company's gearing ratio improved to 0.15 as of June 30, 2025, from 0.21 at the end of 2024.