Shenzhen, China, April 28, 2025 – MicroAlgo Inc. (NASDAQ: MLGO) announced its 2024 financial results, reporting a net income of RMB 53.4 million (USD 7.3 million) on total revenues of RMB 541.5 million (USD 75.3 million) for the year ending December 31, 2024. This represents a significant recovery from the previous year’s net loss of RMB 266.2 million in 2022. The company attributes this turnaround to its strategic decision to concentrate on central processing algorithm services, which now account for all of its revenue, moving away from intelligent chips and services segment.
The company’s focused strategy on central processing algorithm services has yielded positive results, generating revenues of RMB 541.5 million (USD 75.3 million). MicroAlgo’s ability to deliver integrated solutions tailored to customer requirements has been a key factor in its success. The company’s ongoing investment in research and development, totaling RMB 111.7 million (USD 15.5 million) in 2024, has been instrumental in fostering innovation and maintaining a competitive advantage in the rapidly changing technological environment.
MicroAlgo’s 2024 achievements highlight its capacity to leverage the increasing need for central processing algorithm services in sectors like internet advertising and online gaming. Strategic initiatives, such as broadening application areas and diversifying the customer base, have positioned the company for sustained growth in the central processing algorithm services market. With a strong financial position, including approximately RMB 1,035.9 million (USD 144.1 million) in cash and cash equivalents as of December 31, 2024 (compared to RMB 317 million in 2023), MicroAlgo is well-prepared to pursue strategic opportunities and further develop its technological capabilities.
Quote from Min Shu, CEO of MicroAlgo:
“We are very happy with MicroAlgo’s 2024 performance, with the achievement of profitability and the demonstration of the strength of our central processing algorithm services. Our dedication to innovation and the provision of cutting-edge solutions has allowed us to offer substantial value to our clients. As we move forward, we will keep investing in research and development, growing our market presence, and pursuing strategic possibilities to strengthen our position as a leader in the data intelligence processing sector. We are sure of our ability to generate sustainable growth and build long-term value for our shareholders.”
The information provided in this press release is not exhaustive and is subject to the full details contained in the Company’s annual report on Form 20-F. The annual report, including the Company’s audited consolidated statements, is available on the SEC’s website at http://www.sec.gov and on the Company’s investor relations website at http://ir.microalgor.com/.
About MicroAlgo Inc.
MicroAlgo Inc. is focused on creating and using custom central processing algorithms. By integrating these algorithms with software, hardware, or both, MicroAlgo offers complete solutions that help customers increase their customer base, improve user satisfaction, achieve cost savings, reduce power use, and meet technical objectives. MicroAlgo’s services include algorithm optimization, accelerating computing without hardware upgrades, lightweight data processing, and data intelligence. The company’s ability to efficiently optimize software and hardware through custom central processing algorithms is a key factor in its long-term growth.
Safe Harbor / Forward-Looking Statements
This release contains forward-looking statements that are subject to risks and uncertainties, many of which are beyond MicroAlgo’s control. These risks are detailed in the Risk Factors section of MicroAlgo’s reports on Forms 20-F and 6-K filed with the SEC, available at www.sec.gov. Terms like “expect,” “estimate,” “project,” and similar expressions identify these statements, which include expectations about future performance and financial impacts.
MicroAlgo is not obligated to update these statements after this release, except as required by law.
Contact
MicroAlgo Inc.
Investor Relations
Email: ir@microalgor.com
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