The Chinese version of Palantir, Shenzhen Intelligence (02723): Revenue and profit increased in the first half of the year, and the market value increased tenfold

The Zhitong Finance App learned that on August 26, Shenyan Intelligence (02723) released its financial report for the first half of 2026, achieving revenue of 398 million yuan, up 43.6% year on year; gross profit for the period was 98 million yuan, up 30.3% year on year, adjusted net profit of 017 million yuan, up 30.6% year on year. Gross margin and adjusted net interest rate were 24.62% and 4.27% respectively.

Deepen the AI smart circuit for intelligent decision-making, pioneered the core value proposition for AI-driven growth, and fully intelligentized the product system, forming a two-wheel drive for smart products and smart marketing services.

In the first half of the year, revenue from smart products was 0.28 million yuan, up 52.9% year on year, and revenue from smart device marketing services was 370 million yuan, up 42.9% year on year. The revenue shares of the two major businesses were 7% and 93% respectively. There have been obvious changes in the two major businesses. The Agentic product system is gradually being penetrated by benchmark customers on a large scale, and product delivery efficiency and individual customer value have increased simultaneously. The number of orders signed for new smart products and services during this period increased by more than 300% compared to the same period.

The growth of the two smart device businesses is due to the continuous increase in R&D of Shenzhen Intelligence. In the first half of the year, the company released DeepAgent 4.0 Pro, which covered many core scenarios of business operations, accelerated the full AI transformation of products and services, and formed an unshakable technical barrier in the field of AI smart devices.

However, the formation of technical barriers did not happen overnight. First, after 17 years of technical accumulation, the company has deep industry and field expert knowledge, and a strong core technical base; second, it has accumulated massive, high-value, and truly unique industry and enterprise data and a large leading high-quality customer base, which is rich in scenario resources; the third is based on accumulated data and customers, and intelligent products can be continuously iterated, fed and optimized in long-term and real business scenarios, thus forming “entering complex decision-making scenarios for leading customers — obtaining data and results — driving model and product iteration — to form a cross-use scenario Competence — Improvement A closed loop of “product penetration and individual customer value — entering more customers and scenarios”.

The company continues to secure the moat through multi-dimensional initiatives. First, enrich AI agents and create product shields. DeepAgent 4.0 Pro is a unified technology and product platform that comprehensively intelligently upgrades and integrates AlphaDesk, AlphaData, and other AI products and services. The reusability of technology allows the two major businesses to share the technology, data and product capabilities of DeepAgent 4.0 Pro. The company has developed more than 20 new agents, covering AI product innovation scenarios and AI sales channel scenarios, etc., continuously enriching the AI agent matrix for enterprise decision-making.

Second, focus on Lighthouse customers. AI agents are increasing their customer penetration rate at an accelerated pace and seizing the cusp. The company's smart order customers include benchmark customers in various industries such as FMCG, automotive, and pharmaceuticals, such as Procter & Gamble, Ideal Auto, and Cinda Biopharmaceuticals. Of the number of new smart device contracts, most of them come from the world's top 500 companies and industry leaders. Among the newly signed smart device product contracts, about 30% of customers purchased multiple smart devices, and many of these companies deployed more than double digit smart device products at once.

Furthermore, the global strategy is being accelerated, and the first-mover advantage is being deployed in overseas markets. The overseas market is a key pole in the company's strategic layout to accelerate its expansion. Through continuous development and improvement of agent products adapted to overseas business scenarios, the company's overseas market revenue was 95 million yuan, an increase of 38.1% over the previous year, accounting for 23.87% of total revenue. The overseas market has become the second growth point.

Through these strategic initiatives, the company not only stabilized its competitive advantage, but also achieved remarkable results. It is worth mentioning that the company is promoting a “double 100” growth strategy, simultaneously promoting growth from the two dimensions of customer scale expansion and single customer product penetration. At the same time, it will accelerate the “double 100” strategic growth flywheel through strategic mergers and acquisitions to form a two-wheel drive for endogenous growth and epitaxial mergers and acquisitions, and achieve a sustainable increase in the “two-wheel business.”

At the performance briefing, CEO Huang Xiaonan positioned the company as a “Palantir” in the field of sales and marketing, and pointed out that the two sides have a high degree of commonality around complex decision-making scenarios for large enterprises, embedding data and algorithms into cross-scenario business processes, outputting decision systems, and being responsible for results.

In fact, the competitive advantages of the two sides are indeed similar: they are both committed to building decision-making AI capabilities across multiple scenarios and summarizing common semantic layers to form reusable business entities and semantic networks; both use decision systems as deliverables rather than single-point tools to deposit decision-making process data and experiential assets that are difficult to replicate; they target leading enterprises with highly complex decision-making scenarios and high-density data assets. While ensuring revenue stickiness, they also seize the necessary environment for decision AI training.

Across the world, enterprise-level AI decision-making applications have become a consensus path for monetizing the value of AI technology. Industry giants such as Anthropic and OpenAI have all switched to related fields.

As a leader in the decision-making AI industry, Palantir's performance and market capitalization have both recorded significant growth. Revenue has maintained a medium to high double-digit growth rate, while the market capitalization began an upward path in 2023. Thanks to the explosion of the AI application circuit, the market value has doubled 26.6 times so far. Shenyan Intelligence entered the Hong Kong stock market on May 27 this year. In just three months, the market capitalization has surpassed the issue price by 10 times, showing that the market and investors are strongly optimistic about the company's prospects.

Currently, the market capitalization of Shenzhen is HK$59.7 billion, but the market value of Palantir (US stock) is as high as US$426.5 billion. The difference between the two is more than 55 times. Drawing on Palantir's dynamic growth, there is a lot of room for growth in Shenzhen's valuation.

Generally speaking, under the AI-driven growth strategy, smart products and smart marketing services are driven by two wheels, and revenue and profit have increased. The company has built core technical barriers, continuously stabilized the moat through multi-dimensional initiatives, and effectively promoted the “double 100” growth strategy. Furthermore, with product structure optimization and full AI empowerment, the company's profitability has also been significantly improved. Referring to Palantir's growth path, the company will usher in an opportunity to reevaluate.