In a period when enterprise software valuations are being repriced by the rise of agentic AI, Deepexi Technology Co., Ltd. (1384.HK) has emerged as a rare counterexample: a pure-play enterprise AI platform delivering both technology leadership and bottom-line profitability. The company’s first interim results following its public listing reveal a 115% year-over-year surge in revenue for the first half of 2026, powered by a 209% leap in core AI revenue and a decisive turnaround to quarterly GAAP profitability in the second quarter of 2026. This performance has earned the company “Buy” and “Overweight” ratings from multiple brokerages within its first year of listing.
For the first half of 2026, Deepexi generated RMB 284.0 million in total revenue, a 115.0% year-over-year increase. Its AI business contributed RMB 226.0 million, a 209.2% surge, bringing AI revenue to 79.6% of total turnover. Gross profit reached RMB 160.0 million, up 120.5% year-over-year, with gross profit margin expanding to 56.5%. Crucially, during the second quarter of 2026, Deepexi posted a standalone quarterly net profit of approximately RMB 30.1 million, officially crossing the breakeven threshold. In Hong Kong’s technology sector, pure-play enterprise AI companies achieving quarterly net profitability while sustaining high R&D investment remain exceptionally rare, underscoring Deepexi’s operational efficiency and scalable software delivery.
The company’s revenue composition shows deep vertical reach: industrial manufacturing accounted for more than 50% of total revenue, retail and consumer goods contributed 30%, with expanding footholds in healthcare and smart transportation. In manufacturing, for example, equipment troubleshooting and predictive maintenance involve dense engineering schematics, real-time IoT sensor telemetry, and extensive historical maintenance logs—all of which Deepexi translates into structured logic that AI models can interpret. This deep vertical expertise and proprietary data accumulation create a formidable competitive barrier.
The first quarter of 2026 witnessed what market observers have dubbed the “SaaSpocalypse,” where approximately $2 trillion in market capitalization was erased from B2B software equities due to fears that agentic AI would cannibalize traditional per-seat licensing. The iShares Expanded Tech-Software ETF (IGV) plunged nearly 21% year-to-date, and enterprise software multiples (EV/Sales) cratered from 5.6x to 4.2x. Investors have pivoted toward AI-native infrastructure, rewarding AI-native architecture and measurable workflow ownership. Deepexi sits on the winning side of this divergence: unlike traditional SaaS vendors, its token-based, consumption-driven model aligns with the agentic AI future. The company’s DeepWorks enterprise Agent platform sells AI productivity, not per-seat licenses, enabling enterprises to deploy autonomous agents that replace repetitive administrative work.
Deepexi’s core competitive edge lies in its specialized “Data + AI” dual-engine architecture, anchored by the FastData enterprise data intelligence platform, the FastAGI agentic AI suite, and the Deepexi Enterprise Large Model Platform, supported by its proprietary Deepology ontology dataset with over 2,000 vertical industry skills. The FastData platform, powered by the FastData Foil fusion engine, acts as an intelligent lakehouse that tokenizes structured and unstructured enterprise data. The FastAGI platform and DeepWorks provide a flexible, modular AI operating system with a pluggable architecture that connects seamlessly to leading open-source foundation models such as DeepSeek and Zhipu AI, eliminating vendor lock-in. Through native Model Context Protocol (MCP) frameworks and specialized agents, Deepexi embeds intelligence directly into core business operations. DeepWorks integrates with DingTalk, Feishu, and Tencent Meeting, allowing employees to summon AI copilots for automated reporting and coordination.
On August 12, Deepexi announced a strategic alliance with Huawei Cloud to jointly launch enterprise data intelligence solutions. Huawei Cloud provides Ascend AI computing clusters and distributed cloud infrastructure, while Deepexi brings expertise in enterprise data governance and vertical AI deployments. This partnership secures stable, long-term computing power and drives down token processing costs, establishing ideal conditions for usage-based, token-metered billing models. Falling AI costs are expected to accelerate enterprise adoption of autonomous agents, and Deepexi is positioned to capture this demand wave with a cost structure that improves as token volumes scale.
Reflecting strong capital market confidence, Deepexi announced on August 17 the successful placement of 14,286,000 new H-shares at HK$35.00 per share, raising net proceeds of approximately HK$488.0 million. The company is supported by prominent investors including Hillhouse, 5Y Capital, and BAI, as well as industry-focused investors such as Shanghai AI. The newly raised funds are earmarked for R&D in next-generation enterprise agent systems and token productivity platforms, positioning the company to capture the $206.5 billion AI agent software market projected for 2026.
In an enterprise AI market where 42% of organizations already have AI agents in production and 72% are deploying across production and pilots combined, Deepexi’s proven, governed agentic workflows are no longer an experiment—they are core infrastructure. With its AI-native architecture, rare profitability, model-agnostic platform, proprietary data moat, strategic compute partnership, and institutional validation, Deepexi Technology has proven that enterprise AI can deliver both transformative technology and sustainable profits.
