Keep releases earnings forecast: expects to record an adjusted net profit of 25 million yuan in 2025.

On February 24, sports technology company Keep (03650.HK) issued an announcement on the Hong Kong Stock Exchange, providing a profit forecast for its 2025 annual results. The announcement stated that within the 12 months ended December 31, 2025, the company recorded attributable loss to owners of approximately RMB 72 million, narrowing by about 87% year over year from the attributable loss to owners of 535 million yuan in the prior year. Under non-IFRS measurement, in 2025 Keep recorded an adjusted net profit of approximately RMB 25 million, turning a loss into a profit. In 2024, this figure was an adjusted net loss of RMB 470 million.

The announcement pointed out that the improvement in the company’s profitability was mainly attributable to the initial effectiveness of the company’s strategic adjustments to focus on AI development and optimize its business structure.

Meanwhile, the announcement explained that through fine-grained operations across its entire line of businesses, the operating efficiency of each business segment has been comprehensively improved, and the revenue share of businesses with high gross margins has continued to expand. Based on this, in 2025 Keep achieved ongoing expansion in the gross margins of each business segment, and through optimization initiatives such as marketing optimization, supply chain optimization, productivity improvements, and administrative efficiency improvements, it achieved effective cost and expense control.

The announcement said Keep’s strategic focus still revolves around two major core pillars: enhancing AI capabilities and upgrading products under its own brand. In terms of AI intelligence, it will accelerate the exploration and development of its sports health large language model, AI agents, and AIGC to enhance user engagement, enrich content generation, and improve user experience. In the area of upgrading its own-brand fitness products, it will focus on user groups and sports scenarios to drive the development and iteration of advantaged categories and high-potential categories, optimize channel strategies, and expand market coverage.

In early 2025, Keep founder Wang Ning released an all-employee letter to commemorate Keep’s 10th anniversary and also announced that the company will “All in AI,” stating that it will enable online fitness to move from recommendations to generation based on the accumulation and refinement of decade-long sports data, and continue to lead the sports technology industry.

Shortly afterward, Keep released a proprietary model for the vertical sports health domain, Kinetic.ai, and based on this model it also launched its first general-purpose AI coach, Kaka. It is understood that Kaka has iterated through multiple versions and has introduced multiple capabilities, including intelligent sports plan generation, intelligent training guidance, sports data recording, dietary recording, and assessment and evaluation, among others.

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