Chalk (02469) released its annual report: increased investment in research and development, with a user base of 9.12 million showing strong resilience.

According to the China Finance APP, on April 27, Fcn (02469) officially disclosed its annual report for 2025. The annual report data shows that the company achieved operating income of 2.677 billion yuan for the year, and the adjusted net profit was 281 million yuan. Specifically, Fcn's gross profit was 1.433 billion yuan, which was basically flat compared to last year, and the corresponding gross profit margin increased from 52.5% to 53.5%. Two key data points are worth noting: first, against the backdrop of revenue adjustments, Fcn's user data demonstrated strong resilience, with an average of 9.12 million monthly active users during the reporting period, which was basically flat compared to the same period last year; second, the company continues to increase its investment in AI technology research and development, with a research and development investment of 245 million yuan in 2025, a 10.6% increase compared to the same period last year, further strengthening the company's technological moat.