Core Insights - InnoSilicon reported a significant increase in sales revenue for the first half of 2025, reaching 553 million yuan, a year-on-year growth of 43.4% [1] - The company achieved a gross margin of 6.8%, marking a substantial improvement of 28.4 percentage points compared to the same period in 2024, while the net loss narrowed by 12.16% to approximately 429 million yuan [1] Sales Performance - The sales to AI and data center sectors surged by 180% year-on-year, driven by the growing demand for GaN applications [1] - The company also entered mass production for 48V-12V applications based on 100V GaN technology [1] Product Development - InnoSilicon launched over 80 new products in the first half of the year, with 693 customer integrations [4] - The company achieved the world's first mass production and shipment of GaN humanoid robot products, showcasing rapid progress in the robotics sector [2] Market Expansion - Overseas revenue reached 63.7 million yuan, reflecting a year-on-year increase of 57.8% [3] - In the automotive electronics sector, the company reported a 128% year-on-year growth in the delivery of automotive-grade chips, indicating strong demand in applications such as lidar and onboard chargers [1]

Core Viewpoint - InnoLux Technology Co., Ltd. reported significant growth in revenue and profitability, marking a successful transition into the GaN industry with notable advancements in various high-end markets [1] Financial Performance - In the first half of 2025, the company's revenue reached 553 million yuan, representing a year-on-year increase of 43.4% [1] - The gross margin improved to 6.8%, indicating a positive shift towards profitability in the GaN sector [1] Market Performance - The AI and data center segment experienced a remarkable growth of 180%, establishing the company as the sole Chinese chip supplier for NVIDIA's 800VDC architecture [1] - The automotive electronics sector showed robust growth, with automotive-grade chips increasing by 128% year-on-year [1] - In the humanoid robotics field, the company collaborated with leading enterprises to launch the world's first GaN robot [1] - The consumer electronics sector maintained a leading position, expanding its market reach into air conditioning and kitchen appliances, thereby broadening application scenarios [1] Research and Development - The company achieved significant milestones in R&D, including the mass production of high-voltage GaN 1200V chips and the successful integration of high-voltage bidirectional GaN into onboard chargers (OBC) [1] - These advancements signify a new level of industrialization for the GaN technology [1]

Group 1 - The company InnoCare announced a sales revenue of RMB 553.4 million for the first half of 2025, representing a year-on-year growth of 43.4% [1] - The gross profit margin improved significantly to +6.8%, compared to -21.6% in the same period last year, marking an increase of 28.4 percentage points [1]

Core Viewpoint - InnoCare announced a significant increase in sales revenue and a turnaround in gross margin for the first half of 2025, indicating strong business performance and growth potential [1] Financial Performance - Sales revenue for the first half of 2025 reached RMB 553.4 million, representing a year-on-year growth of 43.4% [1] - The gross margin improved to +6.8%, a substantial increase of 28.4 percentage points from the previous year's gross margin of -21.6%, marking a significant turnaround [1]

Core Viewpoint - The company has demonstrated significant growth in sales and profitability, particularly in the GaN module segment, driven by deepened customer collaborations and product iterations. Financial Performance - For the six months ending June 30, 2025, the company achieved sales revenue of RMB 553.4 million, representing a year-on-year increase of 43.4% [1] - Revenue from GaN modules increased from RMB 106.5 million in the same period last year to RMB 236.1 million, a growth of 121.7% [1] - The gross profit margin improved to +6.8%, a substantial increase of 28.4 percentage points compared to -21.6% in the same period of 2024 [1] - Research and development costs rose to RMB 162.3 million, an increase of 11.5% from RMB 145.5 million in the previous year [1] International Expansion - The company has established an international management team and subsidiaries in regions including the US, Europe, Japan, South Korea, and Taiwan to better serve global customers [2] - Overseas business revenue reached RMB 63.7 million, accounting for 11.5% of total revenue, with a year-on-year growth of 57.8% [2] Strategic Partnerships - The company has formed strategic collaborations with major firms such as STMicroelectronics, Midea, and NVIDIA to expand the application of GaN technology in various sectors [3] - A joint laboratory was established with United Automotive Electronics to develop compact and lightweight power systems for electric vehicles [3] - The partnership with NVIDIA aims to promote the large-scale implementation of 800V DC power architecture in AI data centers [3] Capacity and Technology Development - The company plans to expand its production capacity to 20,000 wafers per month, enhancing utilization and manufacturing yield [4] - The company will continue to optimize its 3.0 generation process technology platform and other product platforms to provide cost-effective GaN products [4] - Future strategies include deepening collaborations with leading semiconductor companies to implement energy transformation solutions and expand global market presence [4]

Core Insights - InnoScience (02577) reported a significant increase in sales revenue for the first half of 2025, reaching 553.4 million yuan, a year-on-year growth of 43.4% [1] - The gross margin improved to +6.8%, a substantial increase of 28.4 percentage points compared to the -21.6% in the same period of 2024, marking a milestone in achieving positive gross profit [1] - The net loss narrowed to approximately 429 million yuan, a decrease of 12.16% year-on-year [1] Revenue Growth - The revenue growth was primarily driven by the expanding applications of gallium nitride (GaN), with customer demand rapidly increasing [1] - Revenue from GaN discrete devices and integrated circuits amounted to approximately 207 million yuan, a year-on-year increase of 49.9%, largely due to the ongoing expansion in electric vehicles, data centers, and industrial applications [1] - Revenue from GaN modules reached approximately 236 million yuan, a remarkable increase of 121.7%, attributed to deepening collaborations with customers and continuous product iterations [1] Margin Improvement - The improvement in gross margin was mainly due to increased revenue, the release of production scale effects, and ongoing optimization of production processes to reduce costs [1] AI and Data Center Sales - Sales targeting AI and data centers saw a year-on-year growth of 180% [1] - The company entered mass production for 48V-12V applications based on 100V GaN technology [1] - The company became the sole domestic supplier on NVIDIA's list for 800V high-voltage direct current solution chips, with GaN being adopted in NVIDIA's next-generation architecture, marking the entry of GaN into the energy-efficient era for AI and data centers [1] Automotive Electronics Growth - Automotive electronic products, including those used in lidar and on-board chargers (OBC), continued to grow rapidly, with automotive-grade chip deliveries increasing by 128% year-on-year [2] - The company established a joint laboratory with leading global automotive electronics firms, signifying the entry of automotive electronics into the GaN era [2] Robotics Applications - GaN chips, known for their high frequency and power density, provide optimal solutions for humanoid robot joint motors and dexterous hand motor drives [2] - The company made significant progress in this field, collaborating with several leading robotics firms and achieving the first mass production shipment of robots equipped with GaN chips [2]

Group 1 - The company InnoScience (02577) reported a mid-year revenue of 553.4 million yuan for 2025, representing a year-on-year growth of 43.4% [1] - The gross margin improved significantly to +6.8%, a 28.4 percentage point increase from -21.6% in the same period of 2024, marking a milestone in turning gross profit positive [1] - The net loss narrowed to approximately 429 million yuan, a decrease of 12.16% year-on-year [1] Group 2 - Revenue growth was primarily driven by the expanding applications of gallium nitride (GaN), with customer demand rapidly increasing [1] - Revenue from GaN discrete devices and integrated circuits reached approximately 207 million yuan, up 49.9% year-on-year, largely due to applications in electric vehicles, data centers, and industrial sectors [1] - Revenue from GaN modules was about 236 million yuan, a significant increase of 121.7% year-on-year, attributed to deepening cooperation with clients and continuous product iteration [1] Group 3 - The improvement in gross margin was mainly due to increased revenue, the release of production scale effects, and ongoing optimization of production processes to reduce costs [2] - Sales targeting AI and data centers grew by 180% year-on-year, with the 100V GaN 48V-12V application entering mass production [2] - The company became the sole domestic supplier for NVIDIA's 800V high-voltage direct current solution, marking GaN's adoption in NVIDIA's new architecture and the entry of AI/data centers into an energy-efficient era [2] Group 4 - Automotive electronic products, including applications in lidar and on-board chargers, continued to grow rapidly, with automotive-grade chip deliveries increasing by 128% year-on-year [2] - The establishment of a joint laboratory with leading global automotive electronics companies signifies the entry of automotive electronics into the GaN era [2] - GaN chips' high frequency and high power density characteristics provide optimal solutions for humanoid robot joint motors and dexterous hand motor drives, with rapid progress in collaboration with several leading robotics companies [2]

Group 1 - The company achieved a sales revenue of RMB 553.4 million in the first half of the year, representing a year-on-year growth of 43.4% [1]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或因倚 賴該等內容而引致的任何損失承擔任何責任。 InnoScience (Suzhou) Technology Holding Co., Ltd. 英諾賽科 ( 蘇 州 ) 科技股份有限公司 （於中華人民共和國註冊成立的股份有限公司） （股份代號：2577） 截至2025年6月30日止六個月之中期業績公告 本集團報告期內毛利率為+6.8%，對比2024年同期的-21.6%，再次大幅提升 28.4個百分點，實現毛利轉正里程碑。 2. 高端業務市場佈局進展飛速，氮化鎵應用在數據中心、新能源汽車、人形機 器人等關鍵領域實現全面突破並飛速增長，氮化鎵時代來臨 推動AI及數據中心進入氮化鎵時代： 面向AI及數據中心的銷售同比增長180%；基於100V氮化鎵的48v-12v應用進 入量產；國內獨家進入英偉達800V高壓直流方案芯片供應商名單，氮化鎵被 英偉達新一代架構採用，AI/數據中心進入氮化鎵高效節能時代。 1 新能源汽車： 應用於激光雷達、車載充電機(OB ...

Market Performance - The Hong Kong stock market indices collectively declined, marking a three-day losing streak, with the Hang Seng Index falling by 0.81% and closing below the 25,000-point mark [2] - The Hang Seng China Enterprises Index and the Hang Seng Tech Index dropped by 1.15% and 0.94%, respectively [2] - Notably, southbound funds recorded a net sell-off exceeding 20 billion HKD [2] Stock Highlights - Significant gainers included InnoCare Pharma, which surged by over 15.43%, and SMIC, which rose by 10.76% [3] - Other notable performers were Shun Tai Holdings (+14.50%), ChipMOS Technologies (+9.50%), and Hua Hong Semiconductor (+8.44%) [3] Sector Performance - Major technology stocks underperformed, with Meituan experiencing the largest drop of 12.55% post-earnings, followed by JD.com (-5%) and Alibaba (-4.69%) [4] - Infrastructure-related stocks, including heavy machinery, high-speed rail, steel, and building materials, also saw significant declines [4] - Conversely, semiconductor stocks gained traction, driven by optimism around domestic chip replacement, with InnoCare leading the charge [4] - Other active sectors included robotics, brain-computer interface stocks, insurance, oil, and military-related stocks [4]