Core main business growth of 149.6%, reasoning business surged by 238.2%. Tianshu Zhixin to deliver an impressive performance in 2025.

On March 30, China’s leading provider of general-purpose GPU products and AI computing power solutions—TianShu Zhixiong (9903.HK)—officially released its 2025 annual performance report. In 2025, the company continued to deepen its focus on the core domain of general-purpose GPUs, leveraging both technical innovation and commercial deployment in a two-way effort, achieving breakthrough progress in hard-core technology and a steady improvement in operational efficiency and quality. Amid the wave of domestic substitution and AI, it delivered a high-quality development answer to the market.

Data shows that in 2025, TianShu Zhixiong achieved revenue of RMB 1.03B, a substantial year-over-year increase of 91.6%. The revenue scale realized a leap forward, fully reflecting the market competitiveness of its core products and the strength of demand. Gross profit was RMB 558M, up 110.5% year over year. Gross profit growth clearly outpaced revenue growth, highlighting the company’s efficient transformation of technical value into commercial value. After adjustment, net loss was RMB 438M, narrowing by 32.1% year over year; the loss reduction exceeded expectations, and the company’s operating conditions continued to improve.

Technological iteration solidifies the ramparts; full-stack deployment drives high-growth in the main business

The general-purpose GPU product business is the engine for TianShu Zhixiong’s performance growth and its core competitiveness. In 2025, the company consistently followed the product strategy of “training and inference-driven,” continuing to iterate and upgrade its core products in the TianQian and ZhiKai series. At the same time, it actively laid out a new track for edge-side computing power, building technical ramparts in an all-round way.

Data shows that in 2025, revenue generated by TianShu Zhixiong’s general-purpose GPU products reached RMB 923 million, up 149.6% year over year, and accounted for 89.3% of the company’s total revenue for the same year. The organic strength of core main-business growth was outstanding, becoming an absolute pillar supporting the company’s revenue growth.

Among them, the TianQian series, as the flagship product line of TianShu Zhixiong focusing on training, achieved revenue of RMB 584 million in 2025, up 116.7% year over year, becoming the core force behind domestically produced AI training computing power. The ZhiKai series, designed specifically for cloud and edge inference application scenarios, achieved revenue of RMB 339 million in 2025, up significantly by 238.2% year over year, with a particularly impressive growth rate.

In 2025, TianShu Zhixiong proactively advanced co-design of software and hardware, continuously improving its full-stack technology layout. During the reporting period, the company released a new generation software development platform. It natively supports the industry’s mainstream GPU programming models, providing full-stack software support for the release of computing power from its self-developed GPGPU chips and for large-scale commercial use.

It is understood that after deep optimization, the platform achieved a code migration efficiency improvement of more than 80%. It supports “minute-level” smooth migration of operators, with compilation code performance leading in the industry, enabling the company to build a full-stack technology moat that is difficult to replicate.

In the area of edge-side computing power, in 2025, TianShu Zhixiong continued to deepen its edge AI development, closely following frontier and device-side AI development trends. Based on the existing general-purpose GPU technology foundation, it introduced the advanced computing products in the TongYang series, which are used in applications such as robots and smart terminals. It successfully expanded its business boundaries into emerging fields such as embodied intelligence.

This product series extends the multi-compute integration and high-concurrency inference capabilities of cloud infrastructure to cutting-edge application scenarios. By integrating CPU and GPU computing resources through different high-speed interfaces, its core metrics—including computing capability, latency, and bandwidth—have reached international mainstream standards. It has already been deployed in a large number of application scenarios, fully demonstrating the company’s technical strength and market competitiveness in the edge-side computing power domain.

Ecosystem building lays a solid foundation; commercialization fully moves into deployment

In terms of developer relations and software ecosystem development, in 2025, TianShu Zhixiong, with the DeepSpark open-source community as its core vehicle, continued to increase investment in all-dimension open-source ecosystem and developer system building based on a solid foundation of completing adaptation of more than 610 mainstream algorithm models. It strengthened advanced adaptation capabilities that natively support Day0 releases of new model structures and new operators, seamlessly matching the fast iteration cycle of large-model technologies. This showcases the company’s deep technical accumulation in underlying software-hardware co-optimization and its ability to lead the ecosystem.

Benefiting from strong product strength, robust technical support, and a well-established ecosystem layout, TianShu Zhixiong’s commercialization and deployment achieved remarkable results in 2025, successfully realizing the key leap from single-point verification to large-scale commercial use.

In 2025, TianShu Zhixiong’s customer base continued to expand, and industry coverage continued to deepen. It has cumulatively served more than 340 customers, covering multiple key areas such as the internet, AI large models, scientific research, financial services, healthcare, education, and transportation. Its related products and solutions have completed more than 1,000 scenario-based deployments and implementations, with commercialization results steadily coming to fruition.

Overall, in 2025, TianShu Zhixiong, relying on its full-stack self-developed technical ramparts, a product layout integrating training and inference, and meticulous ecosystem building, achieved fast growth in both revenue and gross profit. It stood out in the domestic general-purpose GPU sector, winning multiple impressive results.

Looking ahead, the company will continue to adhere to the philosophy of independent R&D, steadily promote structural iteration and performance upgrades across its three major product lines: TianQian, ZhiKai, and TongYang. It will continuously improve the developer ecosystem and software system, and further deepen collaborative synergy with upstream and downstream partners. As a core enterprise in China’s domestic computing power domain, it has broad room for growth and distinct long-term investment value.

Contact: Hong Kong Economic Times Advertising Department, Listed Companies Unit │ annteam@hket.com