中信建投指出，第四范式作为企业级AI领跑者，近年来收入持续高增，净亏损持续收窄，盈利模式愈发清晰。标杆客户数和收入稳定增长，下游行业拓展顺利。2023年推出的式说大模型和AIGS服务平台为公司打开了生成式AI的市场空间，凭借对企业级数据、痛点和自身强大的软件能力，未来有望持续提升份额。Fourth paradigm (06682) rose over 9% in early trading, as of press time, up 6.93%, at 47.85 Hong Kong dollars, with a turnover of 0.245 billion Hong Kong dollars.
According to the Guotong Finance APP, the fourth paradigm (06682) rose over 9% in early trading, up 6.93% as of the time of publication, at 47.85 Hong Kong dollars, with a turnover of 0.245 billion Hong Kong dollars.
On the news side, Fourth Paradigm's core business revenue has grown rapidly. The company achieved revenue of 3.218 billion yuan in the first three quarters, a year-on-year increase of 26.1%, and gross profit of 1.35 billion yuan, a year-on-year growth of 12.5%. Among them, the core business, the Prophet AI platform, achieved revenue of 2.171 billion yuan, a year-on-year growth of 50.2%, accounting for over 67% of total revenue.
China Securities Co.,Ltd. pointed out that as a leader in enterprise-level AI, Fourth Paradigm has seen continuous high revenue growth in recent years, with net losses continuously narrowing and a more clear profit model. The number of benchmark clients and revenue have steadily increased, and downstream industry expansion has been smooth. The large-scale models and AIGS service platform launched in 2023 have opened up the market space for generative AI for the company, and with its strong software capabilities in enterprise-level data and pain points, it is expected to continue to increase its market share in the future.
