Recent financial season, familiesScience and technology enterprisesThey're all very well-regarded, and in a group of technology firmsThunderThe name seems familiar and strange. What do we think of this old tech giant's report card
I. Strengthening of operations
According to the first financial report, on 12 march, unaudited financial statements were released as of 2025. According to the financial statements, in 2025, the total battalion received $462. 4 million, an increase of 42. 5 per cent over the same period; in the fourth quarter, the firm received $143. 3 million, a 70 per cent increase over the same period; and the annual general accounting standards (gaap) net profit was $1,047. 6 million. The year-round increase in offshore operations accounts for 97. 5 per cent and 24. 9 per cent。
In terms of strategic investment, investment in film innovation has led to rapid growth in performance, and she has also claimed that the revenue from advertising from the purchase of tigers has begun to increase. It also announced the sale of 50 per cent of its cloud computing business to achieve strategic focus and reduce financial and operational risks。
Ii. What do you think of the speed of returning to the high-growth track
Now, in the face of intense competition in the market, the swift handing over of an eye-opened report card is a sign that this old internet enterprise is officially out of growth bottlenecks and back on the high-growth track. How do we look at this card
First, the fundamentals are stable and the second growth curve erupts. Rapid income growth is in a healthy and sustainable pattern, with steady fundamentals of mature business as well as explosive growth resulting from new operations。
Membership services have been one of its main sources of income as a fast business. Membership services received $154. 8 million per year in 2025, an increase of 15. 8 per cent over the same period; and $42. 1 million per quarter, an increase of 22. 4 per cent over the same period. This steady growth is due to rapid vertical deepening of product functions. To tap the value potential of the existing user base, the rapid upgrading of products around the “one-size-fits-all” core demand not only optimizes the basic experience of downloading, cloud disk storage and play-off, but also targets features such as the one-key downloading of large models, the mcp protocol self-contained downloads of agent, which accurately match the user's diverse landscape needs, while increasing user coverage through diversified access, which both consolidates its market share in downloading and cloud storage and provides stable financial support for new business exploration and inputs。
Live and other internet-based value-added services have become the second-growth curve of rapidness, especially in the case of live broadcast operations abroad. By the fourth quarter of 2025, the operation had doubled its year-on-year growth of $170. 2 million, or 97. 5 per cent, for the entire year, and $55. 1 million, or 102. 8 per cent, for the fourth quarter. The increase in offshore live radio operations was mainly due to the outbreak in emerging markets. Rapidly capturing the dividends of internet entertainment demand in emerging markets, they successfully cut into blue sea markets such as south-east asia, the middle east and north africa through localized operations and product optimization。
Second, technology goes hand in hand with investment, building synergistic industrial ecology. Rapid growth is not an accident, but results from its long-term adherence to the core strategy of “technology as kings” and its precise asset optimization and investment configuration, building differential advantages through technological breakthroughs, achieving synergistic growth through the integration of resources and laying the foundations for long-term development。
In technology r & d, r & d cost $80 million, or 17. 3 per cent of the total, for the year 2025 and $21. 9 million for the fourth quarter. High inputs have led to technological breakthroughs, with the release in 2025 of a decentrized technology solution that allows users to view videos in browsers, and cooperation has been established with a number of mainstream mobile phone manufacturers. This breakthrough, which is key to building differential competitive advantage on cloud services tracks, is expected to break the competitive pattern of existing cloud services markets, transform technological capabilities into scenes and expand operational boundaries。
At the same time, strategic investments and asset optimization reflect the principle of maximizing resource allocation efficiency. Rapids show a forward-looking vision: long-term investment in film innovation has yielded considerable returns. The acquisition of tiger piston not only contributes to the revenue of advertising, but also achieves synergy between its resources and its own flow. In addition, the company's initiative to sell 50 per cent of its cloud computing business and retain 20 per cent of its equity interest is a wise move to focus on niche tracks and to continuously share the value of future growth while separating non-core operations and reducing operational risks. This set of operations achieves capital value addition and business complementarity and optimizes the overall asset structure。
Thirdly, the overseas break-up, with diversified structures resistant to cyclical risks. The high rate of growth in overseas operations is not only a central highlight of the rapid period 2025, but also a solid foundation for long-term development in the future, marking a new phase in its formal transition from single market dependence to globalization. The high pace of overseas operations provides a solid foundation for rapid long-term development. In 2025, offshore operations grew by 97. 5 per cent over the same period, increasing to 24. 9 per cent of the total, and much faster than domestic operations. This indicates a rapid break from the growth bottlenecks in the single market to find new growth engines in the global market, in line with the trend towards globalized enterprise development. Lee kimbo, chairman and chief executive officer of the thunder group, referred to the doubling of the overseas live voice service expansion, further demonstrating the strategic validity of internationalization。
Diversification of income structures is a powerful weapon to respond rapidly to market changes. Revenues from single-member income to televised and strategic investments abroad have reduced rapid dependence on a single business, resulted in more stable overall revenue collection and improved responsiveness to industry cycle fluctuations and market competition. In addition, the rapidness of the cash flow is maintained, with the company holding cash, cash equivalents and short-term investments of $305. 2 million as at 31 december 2025, providing solid financial guarantees for future development。
In the long run, through a series of combinations of diverse ecological fists, it has succeeded in switching to a high-growth trajectory. In the future, it is possible to achieve higher-quality growth with the available advantages, through sustained and deep-tilling in the scientific and technological industries。
