Zhidemai Technology's AI revenue in the first three quarters reached 108 million yuan, up 233% year-on-year

On October 29, Worth Buying Technology released its 2026 third-quarter report. In the first three quarters, it achieved operating revenue of 828 million yuan, a year-on-year increase of 2.79%. Among this, AI-related business revenue reached 108 million yuan, an increase of approximately 233% compared with 32.2905 million yuan in the same period last year, and its proportion of total revenue rose from 4% to 13%.

According to the company's statistical methodology, AI-related revenue includes revenue contributed by AI products, AI features within products, and AI-generated content, as well as revenue generated from providing services to customers using AI tools. This portion of revenue comes from both the AI application of existing businesses and the commercialization of new products.

Overall profitability remains in an adjustment phase. In the third quarter, the company's revenue was 209 million yuan, a year-on-year decrease of 6.66%; in the first three quarters, net loss attributable to shareholders of the listed company was 52.5058 million yuan, compared with a profit of 13.4486 million yuan in the same period last year. The company said that the decline in the revenue share of information promotion and internet performance marketing platforms, which have higher gross margins, lowered the overall gross margin, while investment in business and AI technology affected profit for the period.

In the first three quarters, the company's R&D expenses were 118 million yuan, accounting for 14.2% of revenue; among this, R&D investment in the third quarter exceeded 42 million yuan, a year-on-year increase of approximately 11%. Upgrading existing products, developing new products, and expanding external services are the main directions of technology investment.

Product updates are first reflected in the shopping business. The "SMZDM" app continues to use AI for search, recommendations, and content production; the AI shopping assistant "Zhang Dama" launched features such as "Today's Best Prices" and "AI Search" in the first half of the year, combining product, content, and consumption data to provide users with product selection, price comparison, and discount inquiry services, covering categories such as digital products, outdoor goods, and home goods.

The company is also integrating shopping services into third-party products. The "SMZDM Shopping Assistant" Skill launched in June this year has been implemented in products such as Tencent WorkBuddy and HarmonyOS Xiaoyi Claw, providing consumer decision support for these agents. Worth Buying has thereby added service channels beyond its own app.

Another external service is the "Haina" MCP Server. It organizes consumer content and product information into standardized data for use by large models, agents, and intelligent terminals. In the first three quarters, "Haina" output reached 3.39 billion times, including 1.15 billion times in the third quarter. For Worth Buying, consumer information accumulated over the long term is thereby entering more external AI products.

The brand marketing business also has new product launches. In June this year, "Zhishu" was upgraded to "Zhishu Matrix", incorporating brand performance on traditional media, social platforms, and AI platforms into unified analysis. It tracks not only situations in which brands are mentioned, but also analyzes how AI describes brands and products, helping companies identify information deviations, compare competitor performance, and adjust content and communication methods.

OpenHubs, officially launched in July, further expands the service targets to enterprises and developers with needs for using large models. When enterprises use multiple models at the same time, they need to handle different interfaces, accounts, permissions, and billing rules. OpenHubs centralizes these operations into one platform, providing unified model access, call monitoring, usage statistics, and cost management services.

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