
Mobvista Inc. (股份代號:1860)(於 開 曼 群 島 註 冊 成 立 的 有 限 公 司) 202512 31 (1) (2) (3) IFRS20251231 2025 2013Nativex 2016Mintegral 2019 ——Mintegral MobvistaCEO I. Ad-techMar-tech ROIApp(s) II. 20252025AIAI 2.1. Statista20254,0702026–20309.95%630 Sensor Tower20255.33.8%34AI Chatbots(Open Internet) 2.2. Sensor Tower20251%92%81% AI 2.3. Statista20255,860(IAA)65%(IAP)35%IAAIAP Statista60%IAP40%IAAIAAIAPIAP III. MintegralMintegral 3.1. 1)2)DSPADXSSP3) 3.2. MintegralDSPADX SSPMintegral GameAnalyticsGA IV. 2013SaaS 4.1.—(App(s)) 2013KOL —Glocal 2015AIMintegral MintegralMintegralROIMintegralApp(s)App(s)Mintegral Mintegral10,000100,0004,000 SaaS—Ad-tech+Mar-tech Ad-techMar-tech2019SaaSAd-techMar-tech 2016GameAnalytics2021XMPPlayturbo V. MintegralAd-techMar-techAd-techAd-tech90%Mar-tech 5.1.Ad-techMintegral 5.1.1 MintegralApp(s) 5.1.2 ROAS7 11-23Mintegral 5.1.3 Mintegral130 MintegralMintegral74.6%Mintegral25.4% 5.1.4 MetaGoogleApp(s)MintegralMintegralAppLovinUnity AdsGoogle AdMobPangle Meta AudienceNetworkMintegral 5.1.4.1 MintegralGameAnalytics 5-8SDKSDKSDKSDKMintegralROIROI MintegralMintegral 5.1.4.2 AI 5.1.4.3 Mintegral (1)(2)Mintegral(3) (4) 5.1.5 ROI Mintegral(RTB)(Ad Exchange)Mintegral 5.2.Ad-tech Mintegral 5.3.Mar-techGameAnalytics GameAnalyticsGASaaSRobloxPC VRLiveOpsGA 29499 GA30 GA 5.4.Mar-tech SaaS 5.5. 20252,046.735.7%Mintegral1,960.935.9%95.8%20235Mintegral4AIROASCPE(IAA)(Hybrid)(IAP)Mintegral80% 67.943.9%36.0%Mintegral 18.02.5% 5.5.1GrowthHub 2023Growth HubSaaSMintegralAds SDK2022202512212 5.5.2 20235MintegralIAA ROASMintegralMintegralROASMintegral20247MintegralTarget CPE20254MintegralTarget ROASHybrid ROAS20257Mintegral IAP ROASIAPMintegralMintegralMintegral MintegralIAPROAS 5.5.3 1,462.120241,039.840.6%MintegralMintegral74.6%Mintegral498.823.7%2024403.3MintegralMintegral VI. Ad-techMar-tech Growth HubAd-techMar-techAd-techMintegralMar-techSaaSROIAd-techMar-tech Growth Hub 6.1.MintegralAd-tech MintegralMintegral MintegralMintegralMintegralMintegral 6.2.Mar-techMar-tech Mar-techMintegral SaaSSaaSSaaS 6.3. EMEA 6.4. MintegralSDKSOC2 Type1Type2SOC3 ISO27001kidSAFE+COPPA 6.5.AI AIAIAI(Copilot)AI(Autopilot)AIAI AILLM/AIGCStable DiffusionMeta Segment AnythingPlayturboAIAIAIAI MaxCloudDevOps CopilotDevOpsCopilotDevOps CopilotAutopilotMaxAgent, MaxAgentMulti-AgentRAG MaxAgent AIMintegralROI VII. APPMoboReaderMoboReels MintegralROAS —— FOMOGames 2019Fear OfMissing OutTwisted RopesUntangle3D —— Trailmix Games2017Love & Pies —Merge Mystery2021 MintegralROAS —— 1. SaaS 202512312,046.720241,507.835.7%MintegralAd-techMar-tech 1.1. 1)Ad-tech (App(s)) 2)Mar-tech i.GameAnalytics 29499(MAU) ii. SaaS 1.2. 1)Ad-tech 2)Mar-tech Mar-techSpotMax 1.3. 2,028.836.1%20241,490.399.1%18.02.5%0.9% 2.Ad-tech (1) 2,028.8518.6 3. 2,028.820241,490.336.1%Mintegral1,960.996.7%67.93.3% MintegralMintegral 43.9%67.9202447.2 3.1.Mintegral Mintegral1,960.920241,443.1202435.9%2025556.0507.8476.3420.827.3%26.2%48.8%48.4% 4.Mintegral (1)Mintegral 1,462.120241,039.840.6%Mintegral74.6% 5. (1)(2)(3) 130 6. 40.7% 35.4%1,612.620241,191.4 434.12024316.337.2%21.2%2024202421.0% 39.2%421.720.8% 12.469.3% 26.3%79.7202463.1(1)Mintegral (1)Mintegral 0.3 23.3%187.72024152.3 241.811.2% 5.8 17.2%71.1202460.7 102.5202437.938.1%190.92024138.3 214.324.7% 43.9%4.220247.5 17.420243.7 61.6202415.7 (1)(2)(3)(4)(5)(6)(7)(8) 190.92024138.338.1%95.5202449.3 20251231100,000,00010,000,000,0000.01202512311,574,154,164 20251231884.020241231814.7587.620241231592.366.5%2024123172.7% 3.4%–6.1%20243.4%–7.9% 20251231124.120241231167.82025123115.22024123185.015.215.2 202512315.3 20251231 20251231 202512312169020241231711AI 202420258 5% 202512319.2%2.5% 2025123118.4%4.5% 5% C1 20251231C1 C3 20251231 202512312024 20251231 25% 202661220264 2026692026612202668430183171712 — 1716 2025 2025(www.hkexnews.hk)(www.mobvista.com)202520264 202512 31 59,59916,891—(1,944) 59,59914,947 1 (a) 1(c) (b) 20251231 2025123115,685,000 — —— (c) 21— 2 (a) 2(b) (i) 2(b)(i)2(c) 20252024123110% (ii) 2025123154,165,000202446,315,000112 (b) SaaSSaaS (i) 202520241231 (ii) (c) (i)(ii) (i)(ii) 3 (a) (i) (ii)Adlogic Technology Pte. Ltd.17%202575%10,000202410,00050%190,0002024190,000 (iii)21% (iv)25%2025123115% 200%2024200% (v)202516.5%202416.5%) 2008.25%16.5%2024 202520242025100%1,50020243,000 (vi)20081110%5% (c) 202511 2025123120251231 4 (a) 61,619,000202415,741,0001,529,655,95920241,511,014,565 11 2025111,574,154,16420241,601,073,1648(b)20251155,978,538202488,515,542 (b) 2025123161,619,000202415,741,0001,541,109,04920241,530,446,167 2025202412311,529,655,9591,511,014,56511,453,09019,431,60212311,541,109,0491,530,446,167 5 (a) 20251231 3090 (b) 20252024183,072119,780116,04398,32028,36563,87350,12591,739377,605373,712 112233 7 (a) 20252024 (b) 202520241231 20252024(i)