Wondershare released Filmora 16 on 9 October, adding automatic footage tagging, multi-track screen and camera recording, camera tracking, 360-degree reframing and transcription correction to its consumer video editor. Christy Wu, a vice president at the company, said the release "reflects our continued investment in making professional creative capabilities more intuitive and accessible".
Wondershare Technology Group reported a net loss of RMB 91.23M on revenue of RMB 1.53B for 2025, its second consecutive annual loss. Founded in 2003 and listed on the Shenzhen Stock Exchange under the code 300624, it is chaired by Wu Taibing, who founded it and holds 15.24% of the shares.
Revenue then fell 7.09% to RMB 706M in the first half of 2026 and the loss widened 30.63% to RMB 68.98M, according to the interim report filed in August. Cash generated by the business turned negative, to an outflow of RMB 88.92M.
AI Server Bills Hit The Margin
Wondershare kept 94.77% of its revenue after the direct cost of delivering its software in 2023, a figure called gross margin. That fell to 90.77% in the 2025 financial year and to 86.63% in the first half of 2026, a drop of roughly eight points in under three years.
Cost of sales rose 63.88% in the first half of 2026 and server fees rose 71.60%, which the company puts down to AI server charges and higher platform transaction fees. Server costs had already risen 78.3% during 2025, to RMB 80.12M.
The company says it recorded more than 900M calls to its AI servers in the first half of 2026, up over 80% year on year, and that daily token consumption passed 100B during June. Sales of the credit packs that meter AI use inside Filmora rose more than 50%.
Wondershare had spent 57.08% of its 2025 revenue on sales and marketing and 28.18% on research and development, so the two together consumed 85% of revenue before any cost of sales. Marketing spending then moved the other way in the first half of 2026, down 22.22%, as the server bills climbed. Big AI buyers elsewhere face the same arithmetic in larger figures, with commitments signed years ahead of the revenue meant to cover them.
CapCut's 81% Of Mobile Users
Video software is the core of the business and the part that is shrinking. The segment, which covers Filmora and the company's other video products, brought in RMB 462M in the first half of 2026, around 65% of group revenue, down 9.78% year on year, with its gross margin down 6.02 points to 85.72%.
ByteDance's CapCut held 81% of active users of mobile video editing apps as of July 2024 on Sensor Tower figures, with more than 300M monthly users and a paid tier at $9.99 a month. Adobe's two video editing apps together had fewer than 2% as many active users as CapCut on the same data. No more recent cross-vendor comparison has been published.
Adobe now gives Premiere away on iPhone and Android as a free standalone app, charging for generative features through credits. Blackmagic Design sells DaVinci Resolve 21 at no cost with a $295 studio edition, and Canva charges $144 a year for its Pro tier. Filmora's own paid plans ran from $4.17 to $8.33 a month before this release, with AI use capped by credits and the free tier given no generative features at all.
Monthly active users across all Wondershare products averaged 68.7M in the first half of 2025, roughly where they sat in 2023, and paying users numbered more than 2.9M. The company has published no equivalent figure for 2026. Subscriptions made up 72% of revenue in 2023 and 65% of subscribers renewed, against the near 90% Adobe reports.
Wondershare says Filmora has drawn nearly 400M users across 150 countries since 2015, counted cumulatively since launch, against those 2.9M people paying across the whole product range in a single half-year. The two figures rest on different bases and are not comparable, which is why the company reports both.
The Hong Kong Listing That Lapsed
Wondershare filed for a second listing in Hong Kong on 25 September 2025, with the investment bank CICC acting as sponsor, and dropped the plan in April 2026. The company cited the macroeconomic and capital market environment along with its own circumstances, and Chinese financial press reported that the filing had run past the six-month window in which it stays valid.
Its shares closed at RMB 109.82 in mid-January 2026 and at RMB 46.89 on 27 August 2026, a fall of more than half across seven months. Roughly 93% of revenue comes from outside China, so exchange rates feed directly into the reported result.
Zheshang Securities keeps a buy rating on the stock, meaning it expects the price to rise, and forecasts a profit turning point in 2027 or 2028, with 2026 net profit somewhere between a RMB 18M loss and a RMB 60M profit. Huachuang Securities also rates it a recommendation to buy.
Alongside Filmora, Wondershare is putting AI into the rest of its range, including Filmora.TV, a browser-based studio aimed at agencies and brand teams. It says its AI film and drama product grew monthly revenue at a compound rate above 100% between March and June 2026, and that AI now writes more than 80% of its own code. Frost & Sullivan placed it first by 2024 revenue among independent Chinese suppliers of AI video creation software, a category the research firm defined.
Volume Without Conversion
Mordor Intelligence sizes the video editing market at $3.75B for 2026, growing at under 6% a year to $4.99B by 2031, and puts the top five vendors at about 60% of revenue between them. Wondershare's RMB 1.53B of 2025 revenue works out at roughly $210M at current rates, and it spans video, document, drawing and utility software rather than video alone.
Filmora 16 arrives with a longer feature list attached to the same user base. On one side of the company's filings sit 900M AI calls in six months and 100B tokens on a day in June; on the other sit eight points of gross margin and two consecutive annual losses.
