On February 24, the sports technology company Keep (03650) issued a performance forecast on the Hong Kong Stock Exchange regarding its 2025 fiscal year results. The announcement stated that for the 12-month period ending December 31, 2025, the company recorded an attributable loss to its owners of approximately RMB 72 million, representing a significant narrowing of about 87% compared to the attributable loss of RMB 535 million in the previous fiscal year. On a non-IFRS basis, Keep achieved an adjusted net profit of approximately RMB 25 million in 2025, marking a turnaround to profitability. This compares to an adjusted net loss of RMB 470 million in the 2024 fiscal year.
The announcement highlighted that the improvement in the company's profitability is primarily attributed to the initial success of its strategic refocus on AI development and business structure optimization. Furthermore, through refined operations across all business segments, the company achieved a comprehensive enhancement in operational efficiency, alongside a continuous increase in the revenue contribution from high-margin business lines. As a result, Keep sustained an expansion in gross margins across its various business segments during 2025. Effective cost control was realized through optimizations in marketing, supply chain management, workforce productivity, and administrative efficiency.
The announcement emphasized that Keep's strategic focus remains centered on two core pillars: advancing AI capabilities and upgrading its proprietary branded products. In terms of AI and intelligent solutions, the company will accelerate the exploration and development of large language models for sports and health, AI agents, and AIGC to boost user engagement, enrich content generation, and improve the overall user experience. Regarding the enhancement of its proprietary fitness products, Keep plans to drive the development and iteration of leading and high-potential product categories tailored to user demographics and exercise scenarios, while optimizing channel strategies to expand market coverage.
Earlier in 2025, Keep founder Wang Ning issued a company-wide letter commemorating the 10th anniversary of Keep's founding and announcing the company's commitment to an "All in AI" strategy. He emphasized leveraging a decade of accumulated sports data to transition online fitness from recommendation-based to generative approaches, aiming to continually lead the sports technology industry. Subsequently, Keep launched Kinetic.ai, a specialized model for the sports and health vertical, and simultaneously introduced its first universal AI fitness coach, Kaka, based on this model. It has been reported that Kaka has undergone multiple iterations and now offers features such as intelligent workout plan generation, smart training guidance, exercise data tracking, and dietary logging and evaluation.