Last Updated -
May 30, 2026
Explore the business model, global strategy, and market performance including insights into its position in China.
MiningLamp Technology is a Beijing-headquartered Chinese enterprise AI and data-intelligence software company founded in 2006. The company provides software and services that help businesses collect, organize, analyze, and act on data across marketing, advertising, customer insight, store operations, user experience, and internal workflows. Its core products include Miaozhen marketing intelligence tools, advertising monitoring and verification, social media operation tools, data management platforms, Jinshuju data collection products, smart store operating systems, conversational intelligence products, and DeepMiner AI agent products.
MiningLamp has developed from enterprise data and marketing analytics roots into a broader provider of operational intelligence and AI-enabled business applications. The company describes its technology base as data intelligence, enterprise knowledge graphs, and data privacy technology, with a strategic purpose of giving enterprises more trusted and actionable business intelligence. In 2025, it launched Agentic Services, which use proprietary AI agents to support planning, strategy, content creation, execution, and performance-linked marketing or enterprise workflows.
MiningLamp listed on the Hong Kong Stock Exchange Main Board in November 2025 under stock code 2718, giving the company public-market capital access and a larger balance sheet. For FY 2025, revenue rose 3.2% to RMB1.43 billion, gross profit rose 10.8% to RMB789.6 million, and gross margin improved to 55.4%. Data Intelligence services contributed RMB1.26 billion, or 88.4% of revenue, while the new Agentic Services business generated RMB100.2 million in its first year. The company reported a large RMB6.41 billion net loss because of preferred-share fair value accounting tied to its listing, while non-HKFRS adjusted net profit was RMB42.0 million and its cash position at year-end was RMB1.54 billion.
MiningLamp is a China-focused enterprise AI and data-intelligence software company. It makes money by selling application software and services that help corporate clients collect, structure, analyze, and act on business data across marketing, advertising, consumer insight, store operations, user experience, and enterprise workflows.
The company’s business model is built around recurring and project-based enterprise software services, with a growing layer of AI-agent services. Its core economic engine is data-intelligence software for marketing and operations, while Agentic Services is the main new growth category. In FY 2025, revenue was RMB1,425.8 million, up 3.2% year over year. Gross profit rose 10.8% to RMB789.6 million, and gross margin improved to 55.4%, helped by internal AI tools that reduced manual work in data processing and report delivery.
MiningLamp’s technology base centers on data intelligence, enterprise knowledge graphs, and data privacy technology. Its newer DeepMiner product line is aimed at enterprise-grade AI agents for trusted business data analysis and decision-making. The open-source release of Mano-P 1.0 in April 2026 adds developer visibility around GUI-aware AI agents, although the company’s monetization still depends mainly on enterprise adoption and paid services.
MiningLamp’s competitive advantages are its China-specific enterprise data assets and client experience, its long operating history through Miaozhen Systems and the MiningLamp group, and its established position in marketing and operational intelligence. The company says it has 19 years of enterprise services experience. Its HKEX listing in November 2025 also strengthened its balance sheet, with net IPO proceeds of about HK$900.8 million and a further HK$148.1 million from the full exercise of the over-allotment option. At the end of 2025, cash and related deposits totaled RMB1,540.6 million.
Its market position is strongest in China rather than in global horizontal cloud software. MiningLamp cited third-party market research in its prospectus stating that it was China’s largest data-intelligence application software provider by total revenue in 2024. The same research identified it as China’s largest operational-intelligence application software provider by 2024 revenue, with about RMB0.5 billion of operational-intelligence revenue and a 10.3% market share in that category.
Direct competitors include Chinese enterprise software, marketing technology, data analytics, AI application, and cloud-AI vendors competing for corporate IT, advertising, customer insight, and store-operation budgets. In a broader comparison, MiningLamp is closer to a China-focused enterprise data-intelligence and AI-application provider than to a global platform company such as Salesforce or Adobe, or a Chinese cloud infrastructure leader such as Alibaba Cloud. Its differentiation is vertical application depth in China enterprise data intelligence, while larger peers have broader cloud, CRM, advertising, or AI infrastructure ecosystems.
China is the central market for MiningLamp. Substantially all revenue is sourced from China, and its leadership claims are specific to China’s enterprise data-intelligence, marketing-intelligence, and operational-intelligence markets. This gives the company direct exposure to domestic enterprise software budgets, advertising and marketing spend, AI adoption, and data regulation. It also means its growth profile depends more on China enterprise demand and domestic AI competition than on global software expansion.
China is MiningLamp’s core market. The company is headquartered in Beijing and substantially all revenue is tied to Chinese enterprise customers, so domestic AI adoption, marketing budgets, enterprise software spending, and data regulation drive performance. FY 2025 revenue was RMB1,425.8 million, up 3.2%, with data-intelligence services contributing RMB1,260.4 million, or 88.4% of sales. Marketing intelligence generated RMB718.2 million, while operational intelligence generated RMB542.2 million. MiningLamp cited third-party research in its prospectus naming it China’s largest data-intelligence application software provider by 2024 revenue, and the largest operational-intelligence provider with a 10.3% share. Its local strategy centers on Miaozhen marketing tools, smart-store and conversational intelligence products, and newer Agentic Services, which produced RMB100.2 million in first-year 2025 revenue. Main competitors are domestic enterprise AI, cloud, martech, and data-software providers. No Q1 2026 results were published.
MiningLamp entered public markets in late 2025 with a cleaner strategic focus but only modest top-line momentum. FY 2025 revenue rose 3.2% to RMB1,425.8 million, while gross profit increased 10.8% to RMB789.6 million and gross margin improved to 55.4%. The reported RMB6,412.7 million net loss was driven mainly by fair value losses on preferred shares related to listing and conversion accounting, so adjusted measures give a clearer view of operations. Non-HKFRS adjusted operating profit rose to RMB25.0 million from RMB0.6 million, and adjusted net profit reached RMB42.0 million after an adjusted net loss in 2024. No Q1 2026 financial results were available, and the company appears to report mainly on a semi-annual and annual basis.
Geographic expansion is less central to the near-term story. MiningLamp’s operating base and revenue exposure remain overwhelmingly China-focused, with growth tied to domestic enterprise software budgets, advertising spend, AI adoption, and data regulation. The Hong Kong listing improves public-market access and visibility, but it does not change the company’s China-centered commercial profile.
MiningLamp’s future direction is a move from project-heavy and reporting-led data services toward higher-margin, AI-enabled enterprise software and outcome-oriented services. The company has enough liquidity to invest through this transition, and FY 2025 margin improvement suggests operational benefits from automation are already visible. The main test is revenue acceleration. If Agentic Services and operational intelligence grow meaningfully while legacy revenue continues to shrink, MiningLamp’s earnings profile should become clearer. If adoption is slow, the company risks remaining a profitable-on-adjusted-basis but low-growth China enterprise software provider.
This Company Profile was written by Dominik Diemer
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