Why did Serve Robotics' operating expenses surge in Q4 2024?

Serve Robotics' operating expenses surged in Q4 2024 due to an increase in channel expenses, as reported by Huize Holding Limited. Specifically, the company's operating costs were RMB186.8 million (US$25.6 million) in the fourth quarter of 2024, representing a 37.0% increase from RMB136.3 million in the same period of 2023. This increase was primarily driven by the rise in channel expenses, which reflects Serve Robotics' efforts to expand its market reach and facilitate insurance transactions.