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 Exchanges and Clearing Limited (HKEX), providing a profit forecast for its 2025 annual results. The announcement said that within the 12 months ended December 31, 2025, it recorded an attributable loss to owners of approximately RMB 72 million (RMB, the same below), narrowing by about 87% year over year from the attributable loss to owners of RMB 535 million in the previous year. Under non-International Financial Reporting Standards (non-IFRS) measurement, in 2025 Keep recorded an adjusted net profit of approximately RMB 25 million, turning a loss into a profit. The figure for 2024 was an adjusted net loss of RMB 470 million.

The announcement stated that the improvement in the company’s profitability was mainly attributable to the initial effectiveness of the company’s strategic adjustments, which focused on AI development and optimizing its business structure.

Meanwhile, the announcement explained that through refined operations across all lines of business, the operating efficiency of each business segment has been comprehensively improved, and that the revenue proportion of businesses with higher gross margins continued to expand. Based on this, in 2025 Keep achieved continued expansion of gross margins across its business segments, and through optimization initiatives such as marketing optimization, supply chain optimization, improvements in productivity per employee, and improvements in administrative efficiency, achieved effective expense control.

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

At the beginning of 2025, Keep founder Wang Ning released an all-staff letter to commemorate Keep’s 10th anniversary and also announced that the company would go All in on AI, saying that it would build on the accumulation and refinement of a decade of sports data to move online fitness from recommendations to generation, continuing to lead the sports technology industry.

Shortly thereafter, Keep released a proprietary model dedicated to the sports and health vertical domain, Kinetic.ai, and based on this model it simultaneously launched its first general AI coach, Kaka. It is understood that Kaka has iterated through multiple versions and has introduced multiple functions, including intelligent sports plan generation, intelligent training guidance, sports data logging, diet logging, and evaluation.

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