HONG KONG, Nov 19, 2024 - (ACN Newswire) - Beijing Fourth Paradigm Technology Co., Ltd. (“Fourth Paradigm” or the “Company”, Stock Code: 6682.HK) announced its core business update for the period ended September 30, 2024. The Company achieved a revenue of RMB3.2 billion in the first three quarters of this year, marking a 26.1% year-on-year increase. The gross profit reached RMB1.4 billion, showing a 12.5% year-on-year growth.
The company's core business, the Sage AI platform, has shown significant growth, generating a revenue of RMB2.2 billion, representing a year-on-year increase of 50.2%. According to data from International Data Corporation (IDC), a reputable international research institution, Fourth Paradigm has consistently ranked first in the machine learning platform sector in China in terms of market share for six consecutive years.
The Company continues to enhance key capabilities within the Sage AI platform, such as AI Agent and GPU resource pooling, and has successfully achieved end-to-end capabilities in computing power, platform infrastructure, model development, and application deployment. Through the "Sage Inside" model, Fourth Paradigm has efficiently developed over 40 artificial intelligence products, significantly expanding the boundaries of industrial ecosystems and empowering various industries with artificial intelligence applications.
In the first three quarters, Fourth Paradigm has seen a continual improvement in customer service depth and user engagement. The Company has focused on industries such as transportation, energy and power, finance, and telecommunications, with a total of 224 corporate users, including 98 lighthouse users. On average, lighthouse users, namely Global Fortune 500 companies and publicly listed companies, contribute approximately RMB14.9 million in revenue.
The core business grew by 50.2%, with the "Sage Inside" model and 40 AI products driving long-term growth
The Fourth Paradigm Sage AI platform serves as the nucleus of all operations of the Company. In the first three quarters, the industry-leading large model development and management platform, "Sage AI Platform 5.0", has achieved end-to-end capabilities in computing power, platform infrastructure, model development, and application deployment. The AI platform continues to optimize key capabilities such as AI Agents, GPU resource pooling, and unified model hosting. It also integrates generative AI with various ecosystem products and solutions to advance the deployment of generative AI.
For instance, AI Agent has enhanced the precision of complex reasoning and execution, covering the entire lifecycle from large model Agent design, development, commissioning, deployment, operational analysis, to self-learning optimization, providing a stable and reliable support for Agent production applications. Additionally, the Company has further improved AI Coding products in terms of enterprise-side product functionality and application effectiveness, thus reducing development barriers, enhancing code development efficiency, and transforming enterprise software interaction methods to scale up AI application development.
The Company continues to innovate AI business application models, scaling the construction of AI products applicable to various scenarios through the "Sage Inside" model. As of September 30, 2024, under this model, the Company has developed over 40 AI products, including solutions like intelligent mouse solution, intelligent meeting solution, vGPU, AI Data Foundry, large model toolchains, the integrated platform "Tianshu" for search, advertising and promotion, Model Hub for large model hosting, intelligent number query, AI digital human video generation platform, Smart Archive 2.0 for document digitization management, AI+5G video marketing, AI quality inspection systems, 3D scanning and modeling devices, and many more. These AI products have been widely applied in enterprises, expanding the industry coverage of the Sage AI platform and providing long-term growth impetus for the Company's future business development.
AI Agent empowers multiple solutions, scaling the development of industry large models with demonstrative significance
During the period, Fourth Paradigm further expanded the coverage and penetration of its technology and products across multiple industries and scenarios. In terms of product feature iterations, the Company integrated AI Agent capabilities into AIGS Builder, AIGS CodeX, and various intelligent hardware solutions, enabling products to achieve more complex reasoning and execution capabilities. Moreover, the AI Agent based on reinforcement learning technology has formed a self-learning loop, where the more users engage with it, the stronger the model's reasoning and execution capabilities become.
During the period, the Company collaborated with lighthouse users to jointly create a set of industry-leading large models with demonstrative significance, accelerating the widespread application of AI technology across various industries.
In the field of transportation, the Company partnered with a globally leading port group to build a large model for port supply chain management, providing intelligent capabilities for the transformation of comprehensive port supply chain services and promoting sustainable applications of large models in the port and maritime industries and related businesses. For academic translation, the Company collaborated with Modern Press to establish the first professional publishing large model in China, elevating the translation quality of large models to academic publication standards. Compared to general-purpose large models in professional book translations, this large model showed an improvement of over 30% in BLEU (BLEU: a mainstream evaluation standard for machine translation, primarily assessing translation quality by comparing the similarity between machine-translated results and human reference translations), meeting the high-accuracy translation demands of academic verticals.
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