How did Alphatech Holdings' revenue and expenses trend in Q4 2024?

**Alphatech Holdings' Revenue and Expenses Trend in Q4 2024**: 1. **Revenue Growth**: Atour Lifestyle Holdings Limited (ATGL) experienced a significant increase in net revenues for the fourth quarter of 2024, with a 38.5% increase year-over-year, amounting to RMB2,084 million (US$286 million) compared to RMB1,505 million in the same period of 2023. This growth was part of a broader full-year increase of 55.3%, reaching RMB7,248 million (US$993 million) in 2024, up from RMB4,666 million in 2023. 2. **Net Income Increase**: The net income for the fourth quarter of 2024 rose by 50.5%, achieving RMB331 million (US$45 million), an increase from RMB220 million in the previous year's same quarter. This quarter's net income accounted for a substantial portion of the full-year net income, which surged by 72.2% to RMB1,273 million (US$174 million) in 2024, up from RMB739 million in 2023. 3. **Adjusted Net Income Growth**: The adjusted net income (non-GAAP) for the fourth quarter of 2024 also saw a notable increase, rising by 49.9% to RMB333 million (US$46 million), compared to RMB222 million in the same period of 2023. The full-year adjusted net income (non-GAAP) grew by 44.6% to RMB1,306 million (US$179 million), up from RMB903 million in 2023. 4. **EBITDA and Adjusted EBITDA Increase**: The EBITDA (non-GAAP) for the fourth quarter of 2024 increased by 77.2% to RMB440 million (US$60 million), compared to RMB248 million in the same period of 2023. The full-year EBITDA (non-GAAP) grew by 66.8% to RMB1,739 million (US$238 million), up from RMB1,043 million in 2023. Similarly, the adjusted EBITDA (non-GAAP) for the fourth quarter of 2024 increased by 76.5% to RMB443 million (US$61 million), compared to RMB251 million in the same period of 2023. The full-year adjusted EBITDA (non-GAAP) increased by 46.8% to RMB1,772 million (US$243 million), up from RMB1,207 million in 2023. 5. **Expense Analysis**: Specific expense details for the fourth quarter of 2024 are not available. However, it is noted that selling and marketing expenses accounted for 13.4% of net revenues for the full year of 2024, and general and administrative expenses for the fourth quarter of 2024 were RMB102 million (US$14 million), including RMB2 million share-based compensation expense. In conclusion, Alphatech Holdings demonstrated robust growth in revenue and profitability metrics during the fourth quarter of 2024, driven by significant increases in net revenues, net income, adjusted net income, EBITDA, and adjusted EBITDA, with notable contributions from operational efficiency and strategic initiatives.