本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性依法承担法律责任。 重要内容提示： （网址：http://roadshow.sseinfo.com/） 会议召开方式：上证路演中心网络互动 证券代码：688107 证券简称：安路科技 公告编号：2025-036 上海安路信息科技股份有限公司 关于参加 2025 年上海辖区上市公司三季报集体业绩说明会的公告 投资者可于 2025 年 11 月 6 日（星期四）至 2025 年 11 月 12 日（星期三） 前登录"上证路演中心"网站主页点击"提问预征集"栏目或通过公司邮箱 Public@anlogic.com 进行提问。公司将在业绩说明会上对投资者普遍关注的问 题进行回答。 上海安路信息科技股份有限公司（以下简称"公司"）已于 2025 年 10 月 29 日对外披露了公司 2025 年第三季度报告，为便于广大投资者更全面深入地了解 公司 2025 年第三季度的经营成果、财务状况、发展理念等，公司将参加 2025 年上海辖区上市公司三季报集体业绩说明会，就投资者关心的问题进行交流。 一、 说明会类 ...

Core Insights - The latest investment direction of the "National Big Fund" has emerged, with 30 A-share listed companies having the fund as a significant shareholder [1] Group 1: Investment Holdings - The "National Big Fund" has significant holdings in companies such as Northern Huachuang, Hushi Silicon Industry, and Tuojing Technology, among others [1] - The fund's investments are primarily in the semiconductor and integrated circuit sectors, reflecting a strategic focus on these industries [1] Group 2: Company Performance - Northern Huachuang reported a Q3 revenue of 11.16 billion yuan, a year-on-year increase of 38.31%, with a net profit of 1.92 billion yuan, up 14.60% [3] - Hushi Silicon Industry achieved a Q3 revenue of 944 million yuan, a 3.79% increase, but reported a net loss of 265 million yuan [4] - Tuojing Technology saw a significant Q3 revenue increase of 124.15% to 2.27 billion yuan, with a net profit of 462 million yuan, up 225.07% [5]

Core Insights - Anlu Technology (688107) reported a total revenue of 368 million yuan for the first three quarters of 2025, with Q3 revenue reaching 145 million yuan, reflecting an 11.42% quarter-on-quarter increase, indicating a steady growth trend [1] - The gross margin for the first three quarters was 43.86%, up by 12.91 percentage points year-on-year, driven by a recovery in terminal demand and the gradual ramp-up of new products [1] - The company has made significant breakthroughs in emerging fields such as power and new energy, intelligent computing center servers, and automotive electronics, which have become new growth engines for performance [1] Financial Performance - The inventory reduction efforts have shown improvement, with inventory decreasing by 9.50% compared to the beginning of the year [1] - R&D investment totaled 256 million yuan for the first three quarters, accounting for 69.45% of revenue, emphasizing the company's commitment to R&D as a core strategy [1] R&D Focus - Anlu Technology's R&D resources are primarily directed towards new product development, EDA software iteration, and IP expansion [2] - The product matrix includes three major series: SALPHOENIX, SALDRAGON, and SALELF, catering to a multi-tier market demand from high-performance to low-cost solutions [2] Market Outlook - The global FPGA market is projected to grow at a compound annual growth rate of approximately 10% from 2024 to 2030, with the market size expected to exceed 15 billion USD by 2030, driven by emerging applications in AI edge computing and automotive electronics [2] - In the automotive electronics sector, Anlu Technology has established a complete technology chain and achieved AEC-Q100 Grade 2 automotive certification, with some automotive products being mass-produced by major domestic car manufacturers [2] - The intelligent computing center server market has seen Anlu's chips successfully enter several leading internet companies, with product performance and stability gaining market recognition, suggesting a potential for continued revenue growth in this area [2]

Core Insights - Anlu Technology reported a significant decline in revenue and net profit for the first three quarters of 2025, with total revenue at 368 million yuan, down 25.79% year-on-year, and a net loss of 191 million yuan, down 21.08% year-on-year [1][2] Financial Performance - The basic earnings per share for the reporting period was -0.48 yuan, with a weighted average return on equity of -17.07% [2] - The company's gross margin for the first three quarters was 43.86%, an increase of 12.91 percentage points year-on-year, while the net margin was -51.93%, a decrease of 20.10 percentage points year-on-year [2] - In Q3 2025, the gross margin was 42.79%, up 15.85 percentage points year-on-year but down 3.58 percentage points quarter-on-quarter; the net margin was -33.71%, down 13.69 percentage points year-on-year but up 29.34 percentage points quarter-on-quarter [2] Expense Analysis - Total operating expenses for the period were 316 million yuan, a decrease of 24.96 million yuan year-on-year; the expense ratio was 85.89%, an increase of 17.12 percentage points year-on-year [2] - Sales expenses increased by 15.24% year-on-year, management expenses rose by 0.90%, R&D expenses decreased by 10.41%, and financial expenses surged by 93.87% year-on-year [2] Shareholder Information - As of the end of Q3 2025, the total number of shareholders was 15,300, an increase of 3,067 or 25.07% from the end of the previous half [3] - The average market value per shareholder decreased from 925,200 yuan to 845,600 yuan, a decline of 8.60% [3] Company Overview - Anlu Technology, established on November 18, 2011, and listed on November 12, 2021, is located in the China (Shanghai) Pilot Free Trade Zone [3] - The company specializes in the research, design, and sales of FPGA chips and dedicated EDA software, with 89.36% of its revenue coming from chip sales, 8.32% from technical services, and 2.32% from other sources [3] - Anlu Technology is classified under the semiconductor industry, specifically in digital chip design, and is associated with concepts such as specialized and innovative enterprises, mid-cap stocks, EDA concepts, semiconductors, and automotive chips [3]

Group 1 - The core viewpoint of the article is that Anlu Technology (688107.SH) reported a significant decline in revenue and an increase in net loss for the first three quarters of 2025 compared to the previous year [1] Group 2 - For the first three quarters of 2025, the company achieved total operating revenue of 368 million yuan, representing a year-on-year decrease of 25.79% [1] - The net profit attributable to shareholders of the parent company was -191 million yuan, which is an increase in loss of 33.29 million yuan compared to the same period last year [1] - The basic earnings per share were -0.4771 yuan [1]

Group 1 - Company Anlu Technology (SH 688107) reported a revenue of approximately 368 million yuan for the first three quarters of 2025, representing a year-on-year decrease of 25.79% [1] - The net profit attributable to shareholders of the listed company was a loss of approximately 191 million yuan [1] - The basic earnings per share were a loss of 0.4771 yuan [1] Group 2 - As of the report date, the market capitalization of Anlu Technology was 11.6 billion yuan [2]

Financial Performance - The company's operating revenue for Q3 2025 was ¥144,898,308, a decrease of 18.95% compared to the same period last year, and a year-to-date revenue of ¥368,240,800, down 25.79% year-on-year[3]. - The total profit for the period was a loss of ¥48,842,847, with a year-to-date loss of ¥191,234,113, indicating significant financial challenges[3]. - The net profit attributable to shareholders was also a loss of ¥48,842,847 for the quarter and ¥191,234,113 year-to-date, reflecting ongoing operational difficulties[3]. - Total operating revenue for the first three quarters of 2025 was ¥368,240,800.05, a decrease of 26.0% compared to ¥496,228,919.51 in the same period of 2024[17]. - Net loss for the first three quarters of 2025 was ¥191,234,113.34, compared to a net loss of ¥157,939,950.90 in the same period of 2024, representing an increase in loss of 21.0%[18]. - Basic and diluted earnings per share for the first three quarters of 2025 were both -¥0.4771, compared to -¥0.3940 in the same period of 2024[19]. Research and Development - Research and development expenses totaled ¥81,882,990, a decrease of 12.13% from the previous year, but accounted for 56.51% of operating revenue, an increase of 4.39 percentage points[4]. - The company is focusing on maintaining high R&D investment despite revenue declines, aiming to support future growth and product development[8]. - Research and development expenses for the first three quarters of 2025 were ¥255,728,703.12, a decrease of 10.4% from ¥285,430,141.51 in 2024[18]. Cash Flow and Liquidity - The cash flow from operating activities was negative, with a year-to-date net cash flow of -¥90,883,913, reflecting increased payments to suppliers[3][8]. - Cash flow from operating activities for the first three quarters of 2025 was a net outflow of ¥90,883,913.42, compared to a net outflow of ¥21,006,771.67 in 2024[21]. - Cash and cash equivalents dropped significantly from RMB 218,542,869.42 to RMB 95,084,771.87, a decline of approximately 56.5%[13]. - Cash and cash equivalents at the end of the period totaled $95,084,771.87, down from $232,712,858.38 year-over-year[22]. - The net increase in cash and cash equivalents was -$20,938,097.55, compared to -$57,742,253.47 in the previous period[22]. Assets and Liabilities - Total assets decreased by 15.43% to ¥1,174,042,428 compared to the end of the previous year, while equity attributable to shareholders fell by 15.70% to ¥1,024,641,674[4]. - Total current liabilities decreased slightly from RMB 143,992,037.93 to RMB 134,779,832.07, a decline of approximately 6.5%[14]. - The company reported a significant increase in accounts payable from RMB 34,530,484.02 to RMB 52,044,762.41, an increase of approximately 50.5%[14]. - Long-term liabilities related to lease obligations decreased from RMB 7,288,845.19 to RMB 2,596,016.58, a reduction of about 64.4%[14]. - Total liabilities as of the end of the reporting period were ¥149,400,753.73, down from ¥172,797,612.20 in the previous year[15]. - Total equity attributable to shareholders of the parent company was ¥1,024,641,674.44, a decrease from ¥1,215,532,127.10 in 2024[15]. Shareholder Information - The top shareholder, Huada Semiconductor Co., Ltd., holds 29.11% of the shares, totaling 116,691,243 shares[10]. - The company has not reported any significant changes in the participation of major shareholders in margin trading or securities lending activities[11]. Other Information - Non-recurring gains for the period amounted to ¥2,123,620, with government subsidies contributing ¥431,027, indicating some support for operations[6][8]. - The company did not apply new accounting standards starting from 2025[23]. - The announcement was made by the board of Shanghai Anlu Information Technology Co., Ltd. on October 27, 2025[24].

Core Insights - The AI industry is experiencing significant growth, driven by advancements in technology and increasing demand for AI applications across various sectors [5][6] - Major companies are investing heavily in AI infrastructure, with Meta investing $1.5 billion in a new data center in Texas and BlackRock and NVIDIA collaborating on a $40 billion acquisition of a data center operator [4] - The domestic AI chip industry is seeing a breakthrough, with a complete supply chain established from advanced processes to model acceleration by major companies like ByteDance, Alibaba, and Tencent [6] Market Performance - The Shanghai Stock Exchange Sci-Tech Innovation Board AI Index fell by 2.08%, with key stocks like Chipone Technology and Cambricon Technologies leading the decline [3] - The Sci-Tech AI ETF (588790) decreased by 2.11%, currently priced at 0.79 yuan, but has seen a 37.54% increase over the past three months [3] Investment Trends - The Sci-Tech AI ETF has shown significant growth, with a recent increase of 1.753 billion yuan in scale and a 3.690 billion share increase over the past six months, ranking first among comparable funds [7] - The ETF is designed to provide exposure to the entire AI industry chain, including hardware, models, and applications, benefiting from strong policy support for domestic chip penetration [7][8] Industry Developments - The Ministry of Industry and Information Technology has initiated a special action for "millisecond computing" in urban areas, indicating a push towards enhancing computational efficiency [4] - The AI sector is expected to continue expanding, with companies like Tencent and Alibaba showing strong growth in advertising and cloud services, indicating a positive outlook for technology stocks [5]

Core Viewpoint - The surge in domestic software concept stocks is closely linked to recent U.S. export control threats on key software, which may accelerate the localization of industrial and foundational software in China [1][6][7] Group 1: Market Performance - On October 13, amidst a general market adjustment, several domestic software stocks saw significant gains, with Rongji Software hitting the daily limit, Yingjian Technology rising by 20%, and China Software also reaching the daily limit [3] - Kingsoft Office experienced an increase of over 18%, while Chengmai Technology rose by over 13%, with other companies like Anlu Technology and Youfu Network also following suit [3] Group 2: Key Events and Reactions - The recent announcement by the Ministry of Commerce, which included a shift to WPS format for official documents, gained traction on social media, contributing to the interest in Kingsoft Office's WPS product [3][4] - The announcement also included new export control measures on certain rare earth-related items, which are set to take effect soon, further emphasizing the urgency for domestic software alternatives [3][6] Group 3: Industry Insights - Analysts from Dongfang Securities noted that U.S. export controls on foundational software could significantly accelerate the localization process for industrial software, highlighting the potential for growth in this sector [6][8] - Western Securities emphasized that while there may be short-term technical adaptation challenges, the situation creates a golden opportunity for domestic software development and ecosystem building [7] - The EDA (Electronic Design Automation) market, crucial for semiconductor manufacturing, currently has a localization rate of less than 20%, dominated by foreign companies, but is expected to see increased domestic development due to geopolitical tensions [7][8]

Core Viewpoint - The semiconductor stocks in the A-share market are experiencing a significant upward trend, with several companies showing notable gains in their stock prices [1] Company Performance - Huahong Semiconductor has seen an increase of nearly 14% [1] - Dazhong Technology has risen by over 11% [1] - Yuyuan New Materials has increased by over 8% [1] - Jinghe Integrated has gained over 7% [1] - Companies such as Gacl Electronics and New Energy have risen by over 6% [1] - Anlu Technology, Jiangfeng Electronics, Silan Microelectronics, and Allwinner Technology have all seen increases of over 5% [1]