Our sales and marketing expenses decreased by 18.2% from RMB221.2 million in 2024 to RMB181.0 million (US$25.9 million) in 2025, primarily attributable to cost savings in marketing activities.

filing / Apr 24, 2026 / receipt

We have also deployed this model on-device, which we believe provides cost efficiencies. Speech Intelligence . Using deep neural network technology, we have developed proprietary intelligent speech evaluation and emotional text-to-speech technologies specifically designed for children.

filing / Apr 24, 2026 / receipt

The majority of our office space was leased from Perfect World Group Entities since early 2021. In February 2024, we acquired intellectual property assets related to Cosmicrew from Kunpeng, an animation production studio within Perfect World Group, including copyrights and trademarks, among others, for a total consideration of RMB64.0 million.

filing / Apr 24, 2026 / receipt

Leveraging our competitive advantage and success of the iHuman brand, we expect to expand our global presence with the bekids brand, which not only retains the high-quality content and interactive and entertaining features of the iHuman apps, but also adapts to the diversified child-upbringing norms and children behaviors in the countries where we operate.

filing / Apr 24, 2026 / receipt

Since then, we have been expanding our presence in the field of animation via the Kunpeng and Cosmicrew brands, as well as the newly introduced Rainbow Crew brand.

filing / Apr 24, 2026 / receipt

Our research and development expenses primarily consist of payroll and welfare expenses, outsourcing expenses related to third-party research and development service providers, rental expenses for office space, and to a lesser extent, share-based compensation to our personnel engaged in content development and technology development, and others.

filing / Apr 24, 2026 / receipt