Mobvoi, Inc. (2438) AI Stock Analysis

• Market Cap: N/A
• Dividend Yield: N/A
• Average Volume (3M): 20.67M
• Price to Earnings (P/E): ―
• Beta (1Y): 2.14
• Revenue Growth: N/A
• EPS Growth: N/A
• Country: HK
• Employees: 222
• Sector: General
• Sector Strength: N/A
• Industry: Software - Infrastructure
• EPS (TTM): N/A
• Shares Outstanding: 1,539,848,500
• 10 Day Avg. Volume: 17,968,651
• 30 Day Avg. Volume: 20,673,450
• PEG Ratio: N/A
• Price to Book (P/B): 0.00
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 0.00
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: HK$0.50
• Price Target Upside: -27.54% Downside
• Rating Consensus: Hold
• Number of Analyst Covering: 0

• Rating: 44 Neutral
• Price Target: HK$0.50 ▼(-27.54% Downside)

Mobvoi, Inc.'s overall stock score is primarily impacted by its poor financial performance, characterized by negative profit margins and high leverage. Technical analysis provides some support with mixed signals, but valuation remains unattractive due to a negative P/E ratio and lack of dividends.

Mobvoi, Inc. Business Overview & Revenue Model

Company Description

Mobvoi Inc., an investment holding company, provides smart devices and other accessories in Mainland China, the United States, the United Kingdom, Italy, Spain, Germany, Japan, Brazil, and internationally. It also offers artificial intelligence (AI) software solutions, including AI-generated content (AIGC) content creator solutions, such as Moyin Workshop, an AI voiceover assistant solutions; Weta365, an AI video generation and virtual live streaming solutions; DupDub, an AI voiceover solutions; and AI written content generation solutions under the Mozhuan Writing and Qi Miao Wen names. The company also provides AI enterprise solutions comprising humanized and intelligent AI voice interaction, and intelligent customer service solutions to automotive, finance, technology, media and telecom, healthcare, retail, and other industries; and WeNet, an end-to-end voice recognition open-source tool. In addition, it offers software development services; and procurement of raw materials. The company was incorporated in 2012 and is headquartered in Nanjing, China.

How the Company Makes Money

Mobvoi, Inc. generates revenue through several key streams. The primary source is the sale of its consumer electronics products, such as smartwatches and earbuds, which are sold directly to consumers through online platforms and retail partnerships. Additionally, Mobvoi leverages its proprietary AI technology to offer software solutions and services that enhance user experience, contributing to its revenue. Significant partnerships, such as those with Google for integrating voice assistant capabilities, also bolster its market presence and income. The company may also explore monetization through licensing its AI technology to other businesses or through collaborations in the tech industry.

Mobvoi, Inc. Financial Statement Overview

Summary

Mobvoi, Inc. faces significant financial challenges with inconsistent revenue, negative net profit margins, high leverage, and unstable cash flows. Negative equity and recent revenue downturn further emphasize financial instability, despite some liquidity from cash reserves.

Income Statement

Mobvoi, Inc. has experienced inconsistent revenue performance with a significant decline in 2024 compared to 2023. The company operates at a loss, with negative net profit margins and EBIT margins over the years. While there was a positive revenue growth in earlier years, the recent downturn in 2024 signals potential concerns. The gross profit margin has also decreased, indicating challenges in maintaining profitability.

Balance Sheet

The company's balance sheet reflects high financial risk, with negative stockholders' equity in most years, indicating over-leverage. The debt-to-equity ratio is unfavorable due to negative equity, and total liabilities have significantly exceeded assets. However, the company has managed to maintain a positive cash position, providing some liquidity buffer.

Cash Flow

Mobvoi, Inc. shows unstable cash flow performance. Operating and free cash flows have been volatile, and in 2024, both were non-existent. The lack of consistent free cash flow generation poses a risk to sustainability. The company has struggled to convert net income into cash flow, as evidenced by negative ratios in previous years.

Breakdown	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	390.35M	507.06M	500.19M	397.91M	264.53M
Gross Profit	203.41M	326.08M	336.15M	149.20M	79.67M
EBITDA	-214.80M	-789.40M	-672.65M	-165.42M	-131.07M
Net Income	-721.49M	-802.60M	-669.80M	-276.30M	90.47M
Balance Sheet
Total Assets	525.25M	407.14M	419.49M	606.46M	707.94M
Cash, Cash Equivalents and Short-Term Investments	347.59M	231.09M	214.54M	139.47M	222.08M
Total Debt	29.20M	3.46M	29.57M	35.91M	34.51M
Total Liabilities	220.95M	4.54B	3.72B	3.53B	3.44B
Stockholders Equity	304.30M	-4.13B	-3.30B	-2.92B	-2.73B
Cash Flow
Free Cash Flow	-177.44M	21.92M	67.27M	-40.11M	-27.75M
Operating Cash Flow	-168.74M	28.39M	72.44M	-37.24M	-24.07M
Investing Cash Flow	-143.67M	108.83M	-40.45M	-21.89M	53.58M
Financing Cash Flow	323.83M	-28.98M	-125.74M	-22.12M	-40.19M

Mobvoi, Inc. Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 0.69
• 50DMA: Negative
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:2438, the sentiment is Positive. The current price of 0.69 is above the 20-day moving average (MA) of 0.67, below the 50-day MA of 0.70, and above the 200-day MA of 0.54, indicating a neutral trend. The MACD of <0.01 indicates Positive momentum. The RSI at 50.29 is Neutral, neither overbought nor oversold. The STOCH value of 20.04 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HK:2438.

Mobvoi, Inc. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
6608	75 Outperform	HK$8.27B	14.69	5.89%	―	16.43%	17.05%
3315	61 Neutral	HK$805.63M	17.32	2.53%	5.45%	-16.76%	-50.21%
0818	59 Neutral	HK$1.42B	9.92	2.21%	―	-17.23%	-6.20%
9923	52 Neutral	HK$4.48B	40.20	3.09%	―	-9.32%	477.27%
2598	51 Neutral	HK$10.14B	5.33	-13.69%	―	―	―
2438	44 Neutral	―	―	-38.54%	―	―	―
Sector *	55 Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%

Mobvoi, Inc. Corporate Events

Mobvoi Inc. Reports Revenue Growth and Reduced Losses in H1 2025

Mobvoi Inc. announced its interim results for the first half of 2025, highlighting a 10% increase in revenue to RMB178.9 million and a significant reduction in losses, nearing breakeven. The company’s AI software business faced challenges due to global competition and rising customer acquisition costs, resulting in a revenue decline. However, strategic adjustments helped maintain profitability. Meanwhile, the AI smart hardware segment saw a 64.8% revenue increase, driven by strategic investments and product optimization, with expectations of stabilizing gross profit margins.

The most recent analyst rating on (HK:2438) stock is a Hold with a HK$1.00 price target. To see the full list of analyst forecasts on Mobvoi, Inc. stock, see the HK:2438 Stock Forecast page.

Mobvoi Inc. Announces Changes in Nomination Committee Composition

Mobvoi Inc. has announced changes in the composition of its Nomination Committee, effective August 21, 2025. These changes include the appointment of Ms. Li Yuanyuan as a member, the cessation of Dr. Li Zhifei as chairman and member, and the re-designation of Mr. Yang Zhe as chairman. These adjustments were made in response to amendments in the Listing Rules and Corporate Governance Code, aiming to enhance the Board’s effectiveness and diversity, thereby improving the company’s corporate governance practices.

The most recent analyst rating on (HK:2438) stock is a Hold with a HK$1.00 price target. To see the full list of analyst forecasts on Mobvoi, Inc. stock, see the HK:2438 Stock Forecast page.

Mobvoi Inc. Strengthens Governance with New Nomination Committee

Mobvoi Inc. has established a Nomination Committee to oversee the nomination of directors, ensuring diversity and independence within its board. This move aims to strengthen corporate governance and align with the listing requirements of the Hong Kong Stock Exchange, potentially enhancing stakeholder confidence and company reputation.

The most recent analyst rating on (HK:2438) stock is a Hold with a HK$1.00 price target. To see the full list of analyst forecasts on Mobvoi, Inc. stock, see the HK:2438 Stock Forecast page.

Mobvoi Inc. Announces Board Composition and Roles

Mobvoi Inc. has announced the composition of its board of directors, highlighting the roles and functions of its executive and independent non-executive directors. This announcement underscores the company’s commitment to strong governance and strategic oversight, which is crucial for maintaining its competitive edge and ensuring effective decision-making processes.

The most recent analyst rating on (HK:2438) stock is a Hold with a HK$1.00 price target. To see the full list of analyst forecasts on Mobvoi, Inc. stock, see the HK:2438 Stock Forecast page.

Mobvoi Inc. Reports Significant Loss Reduction in 2025

Mobvoi Inc. announced a significant reduction in its losses for the first half of 2025, with a year-on-year decrease of over 99% in reported losses and a 96% reduction in adjusted net losses. This improvement is attributed to the company’s strategic focus on AI transformation and enhanced operational efficiency through resource optimization and cost control measures.

Mobvoi Inc. Schedules Board Meeting to Review Interim Results

Mobvoi Inc. has announced a board meeting scheduled for August 21, 2025, to review and approve the unaudited interim results for the first half of the year ending June 30, 2025. This meeting is significant as it will provide insights into the company’s financial performance and strategic direction, potentially impacting its market positioning and stakeholder interests.