Changes in Hong Kong stocks | Paradigm Intelligence (06682) rose more than 9%, API business revenue increased 860% year-on-year in the first half of the year, Macquarie's initial target price of HK$59

The Zhitong Finance App learned that Paradigm Intelligence (06682) rose more than 9%. As of press release, it had risen 9.47% to HK$29.58, with a turnover of HK$247 million.

According to the news, Paradigm Intelligence recently disclosed the 2026 interim results, showing that the company achieved revenue of RMB 3,765 billion in the first half of the year, an increase of 43.4%; net profit to mother was RMB 119 million, turning a year-on-year loss into a profit; and adjusted net profit to mother of RMB 150 million, which was corrected from last year's loss. The three major sectors worked together during the reporting period. Among them, the API business achieved revenue of RMB 464 million, a significant increase of 860.8% over the previous year, becoming an important growth engine for the Group; the AI Platform business revenue was RMB 3,088 billion, up 30.0% year on year; and Agentic AI business revenue was RMB 214 million, up 4.9% year on year. In the first half of the year, the number of customer token calls increased by about 620% year-on-year, and the number of available computing power resources expanded to 28,000 PFLOPS. ModelHub has accumulated more than 200,000 sets of “model x chip” adaptation combinations.

Macquarie released a research report covering Paradigm Intelligence for the first time, giving it an Outperform rating. The target price is HK$59, which is close to 100% of the potential increase in current stock prices. The bank pointed out that at present, the market is still mainly based on the understanding paradigm of traditional enterprise AI software companies, and the company's business positioning and growth drivers have changed markedly, and it is transforming from an enterprise AI software company to an AI infrastructure platform. The bank expects the company's revenue to be 10.95 billion yuan in 2026, an increase of 53.5% over the previous year. It believes that as the scale of revenue expands and the growth rate of R&D and operating expenses falls below the revenue growth rate, operating leverage will gradually be released, and profit growth and valuation revaluation are expected to be realized simultaneously.

It is worth noting that Paradigm Intelligence has been ranked first in the market share of machine learning platforms in China for seven consecutive years (IDC data). As of the first half of the year, the company had orders of about RMB 7 billion, and has accumulated more than 500 invention patents.