QINIU (02567) management and cornerstone investors voluntarily extend the lock-up period by one year, with the increase in AI users indicating a new growth curve.

On October 15th, QINIU (02567) announced that its founder and CEO Xu Shiwei and non-executive director Lu Guihua have committed not to sell their shares in any way for the next 12 months starting from October 16, 2025. Xu Shiwei indirectly owns 329 million shares through Dream Galaxy, while Lu Guihua indirectly owns 108 million shares through Dustland. Together, they hold a total of 21.93% of the company's issued share capital as of the announcement date. Following this, QINIU's cornerstone investor Heshun also made a similar pledge to extend the lock-up period, with the three parties collectively holding 25.13% of the shares. Amid the uncertainties of the changing winds of the trade frictions between China and the US, the liquidity of the Hong Kong capital market continues to fluctuate. Share unlocking days often result in market capitalization shrinking, however, professional investors do not change their judgment of the company's long-term value due to the short-term stock price fluctuations caused by the unlocking. Voluntary lock-up commitments are seen as an important indicator of management confidence in the company and industry's future prospects. The voluntary lock-up commitment by QINIU was announced on October 15th, just a day before the unlocking day. This not only conveyed the affirmation of the company's founder and executives to the future prospects and long-term value of the company but also injected confidence into investors, strengthening their confidence in the company's long-term value. Management's commitment helps boost market confidence in the short term, but the company's fundamentals and market environment are the key factors determining the long-term trend of stock prices. In the first half of 2025, QINIU achieved operating income of 829 million yuan, a year-on-year increase of 16.8%, while the adjusted EBITDA significantly narrowed to -3.5 million yuan. With 14 years of cultivation in the audio and video field, QINIU currently has three major product lines - Media Cloud, AI Cloud, and LinX Cloud, with a renewed focus on AI inference computing power products. The launch of LinX AI in August this year also marks QINIU's comprehensive layout from cloud to edge, aiming to explore the new future of the intelligent hardware AI market. As a leading company in audio and video cloud storage, QINIU continues to expand its presence in the multi-modal AI field. In the first half of 2025, AI-related revenue of QINIU reached 184 million yuan, accounting for 22.2% of total revenue, mainly from AI inference services and computing resource leasing. As of August 2025, the number of developers on the QINIU platform has exceeded 1.69 million, with the number of new registrations continuously growing. The demand for inference computing power in AI application development is increasing, with AI-related users rapidly growing to 15,000. These developments not only demonstrate QINIU's competitive advantage and leading potential in the multi-modal AI field but also lay a solid foundation for the company's future development. With the gradual implementation of multiple AI strategic layouts, continuous deepening of technical innovation and market expansion, QINIU's long-term value will be further highlighted, bringing continuous growth potential and returns for investors.