mobilecryptoearninggames| Wanxing Technology held 2023 annual results briefing, annual revenue of 1.481 billion yuan and profit increased significantly

On April 27th, Wanxing Technology (300624), a listed company of AIGC software A shares, (300624)MobilecryptoearninggamesWu Taibing, chairman of Wanxing Technology, and his senior team attended the meeting, which was attended by 119 investors and analysts from 90 well-known institutions, including Goldman Sachs, Red shirt Capital, Morgan Stanley, UBS Securities, UBS assets, China International Capital Corporation, Citic Securities (600030), Wells Fargo Fund, Boshi Fund and Alpha Fund.

At the meeting, the management of Wanxing Technology explained the company's performance, technology research and development, product layout, team building, industrial ecological construction and other investors' concerns, and answered in detail hot topics such as AIGC layout, B-end business development, market development, future development planning and so on.

Wu Taibing said that in 2023, the company continued to dig deep into digital creative business, invested heavily in the research and development of AI audio and video technology, created a large audio and video multimedia model "Skyscreen" with "multimedia", "vertical solution" and "localization", and actively explored R & D and innovative products, promoted a series of intelligent upgrading and high-frequency innovation of products, and comprehensively embraced the historical opportunities of AIGC. At the same time, the company vigorously promotes the introduction of global talents, motivates employees through equity incentives, etc., to consolidate the global strategic layout; strengthen ecological cooperation in the field of AI, and join hands with OpenAI, Baidu, iFLYTEK (002230) and Intel to promote the ecological development of AI technology and applications, so as to enhance efficiency for global content creators.

In the interactive exchange session, in response to the technical products and business strategy issues that investors are concerned about, Wu Taibing said that the company will continue to improve the ability of the big model, on the one hand, it will gradually apply the corresponding atomic capabilities to promote the AI of the original products and some innovative products, on the other hand, it will focus on promoting the AI production of resource materials to meet the creators' customized content needs, and obtain market demand and suggestions through user feedback. Back-feed the company's large model and related technology continuous update and product optimization, the use of data flywheel to achieve positive circular development of technology and products.

At the same time, the company will expand the B-end business, steadily improve the government and enterprise business by fitting users' material resources and services, and insist that products are king, provide localized solutions for users, and continue to promote the Chinese market. At the same time, the company will strengthen cooperation with domestic and foreign technology manufacturers and well-known enterprises, build AI ecology, give full play to the ability of local marketing and user operation, and ensure sustainable revenue growth.

Looking to the future, Wu Taibing said that 2024 will be the first year of AI video creation, and video creative products will still be one of the important growth drivers of the company in 2024. The company will continue to promote the Skyscreen large model technology to fully land on Wondershare Filmora/ Wanxing Meow Ying and other products, and provide users with more comprehensive empowerment in all aspects of video creation; at the same time, document creativity and drawing creative products will take advantage of the mature text and picture capabilities of the big model to accelerate the realization of innovative capabilities such as intelligent content generation and intelligent editing, and gradually upgrade, helping the company's business to grow steadily. With the gradual maturity and development of audio and video technology, promote rapid breakthroughs in cloud products, high-frequency innovation, and promote the expansion of revenue increment.

According to the reported data, Wanxing Technology achieved operating income of 14% in 2023.Mobilecryptoearninggames81 billion yuan, up 25.49% over the same period last year, and the net profit returned to the mother was 86.2057 million yuan, an increase of 113.20% over the same period last year, deducting 89.6831 million yuan from non-net profit, an increase of 817.45% over the same period last year. In the first quarter of 2024, Wanxing invested heavily in the R & D and optimization of many technological capabilities of Wanxing "Skyscreen". On the basis of the high increase in Q1 last year, the first-quarter results achieved operating income of 358 million yuan, an increase of 0.90% over the same period last year, and a net profit of 25.6498 million yuan, an increase of 22.99% over the same period last year. 22.7679 million yuan was deducted from non-net profit, an increase of 26.59% over the same period last year, and revenue and profit maintained positive growth. At the same time, Wanxing Technology uses advanced AI technology to create diversified creative software products and services, realize the landing or optimization of video face changing, image tracking, AI music generation and other functions, and speed up the research and development of China's first large audio and video multimedia model, Wanxing "Skyscreen". Its Wanxing Meow Ying, Wanxing pdf, Yitu Picture, Ink Dao and other products have been upgraded, cloud AI toolkit Media.io is completely refreshed, and new AIGC products such as Wanxing Pobao, Wondershare TruMate, Wondershare Kwicut are launched.

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