en.Wedoany.com Report, March 30 - Iluvatar Corex (9903.HK) released its first post-Hong Kong listing performance report for 2025, presenting a report card of rapid revenue growth. The report shows the company achieved annual revenue of 1.034 billion yuan, a year-on-year increase of 91.6%; gross profit of 558 million yuan, up 110.5% year-on-year; and adjusted net loss of 438 million yuan, narrowing by 32.1% compared to the previous year. As a key player in the domestic GPU track, Iluvatar Corex's first annual report since listing has attracted significant market attention, with the strong performance of its core general-purpose GPU business being the biggest highlight. Through continuous dedication to the general-purpose GPU field, Iluvatar Corex has established this business as the absolute core pillar of its revenue.
From a business structure perspective, Iluvatar Corex's core general-purpose GPU business generated annual revenue of 923 million yuan, a significant year-on-year increase of 149.6%, accounting for 89.3% of total revenue. This data fully demonstrates that Iluvatar Corex has achieved notable results in expanding its presence in the general-purpose GPU market, with its product commercialization and deployment capabilities continuously strengthening. Relying on its self-developed general-purpose GPU architecture, Iluvatar Corex has made continuous breakthroughs in computing performance and ecosystem compatibility, meeting the urgent demands of high-performance computing scenarios such as AI large model training and scientific computing, thereby driving the rapid growth of its core general-purpose GPU business.
In terms of customer and scenario deployment, Iluvatar Corex has also demonstrated strong momentum for expansion. As of the end of 2025, Iluvatar Corex has served over 340 clients across various industries, with its products and solutions deployed in more than 1,000 instances across fields including the internet, AI large models, scientific research, finance, healthcare, education, and transportation. This extensive industry coverage indicates that Iluvatar Corex's general-purpose GPU products have progressed from early-stage exploratory applications to large-scale deployment, forming a multi-industry, multi-scenario three-dimensional application pattern. Particularly in the AI large model and internet sectors, Iluvatar Corex has gained recognition and repeat orders from leading clients due to the high cost-performance ratio and stable performance of its products.
Looking at financial indicators, while Iluvatar Corex achieved high-speed growth in revenue and gross profit, its adjusted net loss narrowed by over 30%, indicating a gradual improvement in the company's profitability. As the scale effect of Iluvatar Corex's core general-purpose GPU business becomes apparent and downstream application demand continues to be released, the company's first-mover advantage in the wave of domestic substitution is expected to be further translated into operational benefits. Industry analysis suggests that Iluvatar Corex's first post-IPO performance report validates its competitive strength in the general-purpose GPU market and injects confidence into the development of domestic high-performance computing chips. In the future, whether Iluvatar Corex can continue to exert effort in technology iteration and ecosystem building will be crucial for consolidating its market position and achieving profitability.
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