INKEVERSE Group Limited reported first-half 2026 revenue of RMB1.98 billion, a 26.0% drop from the prior-year period, reflecting business restructuring, heightened competition and softer user spending.
Gross profit slipped 8.3% to RMB1.17 billion; however, gross margin expanded to 59.1% from 47.7% on a more profitable product mix and tighter cost controls.
Operating profit fell 43.0% to RMB210.49 million, weighed down by a 11.3% increase in selling and marketing expenses to RMB1.10 billion and a 143.6% surge in administrative expenses to RMB264.48 million, the latter driven mainly by a RMB159.83 million impairment on cryptocurrency holdings amid market weakness.
Net profit declined 54.0% to RMB126.09 million, while non-IFRS adjusted net profit—excluding RMB9.60 million of share-based payments—dropped 51.8% to RMB135.69 million.
Key operating metrics deteriorated: average monthly active users slipped 21.4% year on year to 15.86 million, though average revenue per user inched up 5.4% to RMB23.3.
Cash and cash equivalents stood at RMB2.24 billion at 30 June 2026; the current ratio was 5.5 and gearing remained low at 0.2. Financial assets at fair value through profit or loss rose to RMB1.29 billion, helped by unrealised gains of RMB462.00 million on listed equities and derivatives.
Capital expenditure totalled RMB129.20 million, primarily for equipment, leasehold improvements and intangible assets. Borrowings increased to RMB239.44 million, including a USD15 million revolving credit facility guaranteed by the parent company.
Post-period, the firm issued 387.49 million new shares in two tranches (completed 15 July 2026), raising approximately HKD328.47 million net to fund high-performance GPU acquisitions and bolster working capital for its AI computing infrastructure and overseas expansion.
Management reiterated its dual-engine strategy of technological innovation and globalisation, with priority on AI-driven product upgrades, overseas business scaling in Southeast Asia and MENA, and prudent management of cryptocurrency-related risks.