On March 30, DC HOLDINGS (00861) released its 2025 annual results, delivering a strong performance. The company achieved a milestone turnaround to profitability through the deep implementation of its "AI for Process" strategy in supply chain scenarios. During the reporting period, the company's revenue reached RMB 21.015 billion, a 26% year-on-year increase. Net profit attributable to shareholders swung strongly from a loss of RMB 254 million in the same period last year to a profit of RMB 31.42 million. The company demonstrated robust cash flow, with net cash from operating activities of RMB 490 million and cash on hand of RMB 3.488 billion. New contract value reached RMB 16.19 billion, indicating ample order backlog.

This annual report disclosed several key metrics for the first time, clearly showcasing the company's multi-dimensional operating results: First, Non-IFRS metrics improved significantly, with adjusted net profit jumping from negative RMB 127 million last year to RMB 215 million, while adjusted EBITDA doubled to RMB 612 million. Second, the company introduced its "service-based business" segment, which provides end-to-end fulfillment, e-commerce operations, and digital-intelligent enablement services to customers using integrated supply chain and full-stack data intelligence technologies. Service-based revenue reached RMB 10.14 billion in 2025, accounting for 48% of total revenue. Third, the operating segments were reclassified into "Data Intelligence Services," "Integrated Supply Chain Services," and "Fintech Services and Others," highlighting the company's strategic focus on the "AI + Supply Chain" core business.

The performance reversal is underpinned by the comprehensive upgrade of DC HOLDINGS' "Data x AI" strategy. The "Yan Yun AI First FDE (AI-First Forward Deployment Engineer)" system, a 3.0 model derived from a National Technology Invention Award first prize, serves as the technical foundation for the integrated supply chain business, achieving a 30-50x leap in operational efficiency. By implementing the "AI for Process" concept, the company infused full-stack AI capabilities into core supply chain scenarios, integrating them with over two decades of data assets and industry knowledge. This led to the creation of the supply chain intelligent agent cluster "Xiao Jin," which comprehensively reconstructed execution systems such as OMS, WMS, TMS, and BMS, resulting in significantly improved operational effectiveness.

Leveraging a high-stickiness service-based business model, the company adopted a dual-drive approach of "Customer + Ecosystem." In 2025, it signed strategic cooperation agreements with 15 industry clients and ecosystem partners. Annual shipment volume increased by approximately 40% year-on-year, and the net dollar retention rate reached 100%, laying a solid foundation for stable, high-margin growth in the future. This return to profitability marks a substantial success in the company's transition towards a high-quality, high-stickiness service-oriented business model.