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against the background of increasingly fierce competition in the audio and video cloud service market, qiniu intelligence has finally ushered in the dawn of listing. on the evening of september 24, qiniu intelligence successfully passed the listing hearing of the hong kong stock exchange and planned to be listed on the main board, which marked a major breakthrough for the company in the capital market. however, behind this good news, the challenges faced by qiniu intelligence cannot be ignored.

continuous losses and transformation pains

qiniu intelligence has been in a state of loss in recent years. from 2021 to 2023, the company's net losses reached 220 million yuan, 213 million yuan and 324 million yuan respectively, with a cumulative loss of more than 750 million yuan in three years. although the company has taken a series of measures to improve its financial situation, including significant layoffs and adjustments to sales and r&d expenses, the loss situation has not been fundamentally reversed. this current situation not only reflects the operating pressure faced by the company in its rapid expansion, but also highlights the fierce competition in the audio and video cloud service industry.

qiniu intelligence's continued losses have triggered market concerns about its profitability and long-term development prospects. however, the company's management believes that the current losses are a necessary stage to make strategic investments for future development. qiniu intelligence is actively adjusting its business structure and increasing investment in research and development of qcdn products in order to occupy a dominant position in the highly competitive cdn market.