Major Events - Delixi Co., Ltd. is planning a change in control, with stock suspension starting from October 9, 2025, for up to two trading days [1] - Sichuan Gold has won the exploration rights for the Kugez—Juebei gold mine in Xinjiang for 510 million yuan, indicating significant mining potential in a key mineral belt [1] - *ST Gaohong received a notice of termination of listing due to stock prices being below 1 yuan for 20 consecutive trading days [2] - Baili Tianheng's innovative drug BL-ARC001 has received clinical trial approval for treating advanced solid tumors, marking a significant advancement in targeted therapy [3] - Xingye Silver Tin's stock price fluctuation is attributed to significant recent price changes in its main products, silver and tin [3] Performance Overview - BAIC Blue Valley's subsidiary reported a 30.15% year-on-year increase in September sales, totaling 20,539 vehicles [4] - Seres achieved a 19.44% year-on-year increase in September sales, reaching 44,700 new energy vehicles [4] - BYD's September sales of new energy vehicles decreased by 5.52% year-on-year, totaling 396,300 vehicles, with exports of 71,256 vehicles [5] - Chipone Technology expects Q3 revenue of 1.284 billion yuan, a 119.74% increase from the previous quarter and a 78.77% increase year-on-year [5] - Yonghe Holdings anticipates a net profit increase of 448% to 507% for Q3, with projected profits of 456 million to 476 million yuan for the first three quarters [5] Major Contracts - Xinjiang Jiaojian has been awarded a 483 million yuan highway construction project [6] - Longquan Co. is a candidate for a project worth 50.76 million yuan, expected to positively impact revenue and profit [7] - Runjian Co. has secured a design and construction contract for a land-based wind power project valued at 1.753 billion yuan [8] - Innovent Biologics has signed a licensing agreement with Zenas BioPharma for the drug Obrutinib and two preclinical assets, with a total deal value exceeding 2 billion USD [8] Shareholding Changes - Huaxing Yuanchuang announced plans for its employee shareholding platforms to reduce their holdings by up to 0.9% of the company's total shares [9][10]

北京商报讯（记者 陶凤 王天逸）10月8日，芯原股份发布公告称，2025年第三季度公司预计实现营业收 入12.84亿元，单季度收入创公司历史新高，环比大幅增长119.74%，同比大幅增长78.77%，主要受一站 式芯片定制业务增长所带动。 从各业务具体表现来看，公司预计2025年第三季度实现芯片设计业务收入4.29亿元，环比增长 291.76%，同比增长80.67%；预计实现量产业务收入6.09亿元，环比增长133.02%，同比增长158.12%； 预计实现知识产权授权使用费收入2.13亿元，环比增长14.14%，同比基本持平。 ...

Core Insights - The company has reported impressive Q3 operational data, with all key indicators exceeding expectations, signaling a significant shift in its growth engine towards AI ASICs [2][8] Revenue and Profit - The company expects to achieve a record revenue of 1.284 billion yuan in Q3 2025, representing a remarkable quarter-on-quarter increase of 119.74% and a year-on-year growth of 78.77% [3][5] - This performance contrasts sharply with the first half of 2025, where the company reported a net loss of 320 million yuan, and Q2 revenue declined by 4.8% year-on-year [3][5] - The growth is primarily driven by the "one-stop chip customization business," indicating a successful transition from IP licensing fees to comprehensive design-to-mass production services [3][5] - The significant revenue increase has led to a substantial reduction in quarterly losses, suggesting that the company is beginning to realize economies of scale [3][5] Order Growth - The company signed new orders worth 1.593 billion yuan in Q3, a year-on-year increase of 145.80%, with approximately 65% of these orders related to AI computing [5][7] - As of the end of Q3 2025, the total order backlog reached a historic high of 3.286 billion yuan, marking eight consecutive quarters of growth [7][10] - Nearly 90% of the backlog consists of one-stop chip customization orders, with an expectation that about 80% will convert to revenue within a year, providing high visibility for future growth [10] Business Transformation - The company is successfully transitioning from being labeled as the "first stock of semiconductor IP" to becoming a leader in AI ASICs, as evidenced by the data [5][8] - The core development logic is clear: leveraging its deep technology in semiconductor IP to enter the broader ASIC customization market and capitalize on the AI boom [7][11] Future Focus - Key areas of focus include the efficiency and sustainability of converting backlog orders into revenue and profit, the gross margin levels of AI ASIC business, and the progress in advanced process projects like 5nm/4nm [5][8]

格隆汇10月8日丨芯原股份(688521.SH)公布2025年第三季度经营情况，2025年第三季度，公司预计实现 营业收入12.84亿元，单季度收入创公司历史新高，环比大幅增长119.74%，同比大幅增长78.77%，主要 受一站式芯片定制业务增长所带动。从各业务具体表现来看，公司预计2025年第三季度实现芯片设计业 务收入4.29亿元，环比增长291.76%，同比增长80.67%；预计实现量产业务收入6.09亿元，环比增长 133.02%，同比增长158.12%；预计实现知识产权授权使用费收入2.13亿元，环比增长14.14%，同比基本 持平。 在订单方面，公司预计2025年第三季度新签订单15.93亿元，同比大幅增长145.80%，其中AI算力相关的 订单占比约65%。公司预计2025年前三季度新签订单32.49亿元，已超过2024年全年新签订单水平。公 司在手订单已连续八个季度保持高位，预计截至2025年第三季度末在手订单金额为32.86亿元，持续创 造历史新高。公司2025年第三季度末在手订单中，一站式芯片定制业务在手订单占比近90%，且预计一 年内转化的比例约为80%，为公司未来营业收入增长提供了有 ...

证券代码：688521 证券简称：芯原股份 公告编号：2025-059 产业务收入 6.09 亿元，环比增长 133.02%，同比增长 158.12%；预计实现知识产 权授权使用费收入 2.13 亿元，环比增长 14.14%，同比基本持平。 芯原微电子（上海）股份有限公司 2025 年第三季度经营情况的自愿性披露公告 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： 经财务部门初步测算，芯原微电子（上海）股份有限公司（以下简称"公 司"）预计 2025 年第三季度实现营业收入 12.84 亿元，单季度收入创公司历史新 高，环比大幅增长 119.74%，同比大幅增长 78.77%； 公司预计 2025 年第三季度盈利能力大幅提升，第三季度单季度亏损同比、 环比均实现大幅收窄； 公司预计 2025 年第三季度新签订单 15.93 亿元，同比大幅增长 145.80%。 公司预计 2025 年前三季度新签订单 32.49 亿元，已超过 2024 年全年新签订单水 平； 公司在手订单已连续八个季度保持高位，预计截至 2 ...

公司在手订单已连续八个季度保持高位，预计截至2025年第三季度末在手订单金额为32.86亿元，持续 创造历史新高。 智通财经APP讯，芯原股份(688521.SH)发布公告，经财务部门初步测算，公司预计2025年第三季度实 现营业收入12.84亿元，单季度收入创公司历史新高，环比大幅增长119.74%，同比大幅增长78.77%。 预计2025年第三季度盈利能力大幅提升，第三季度单季度亏损同比、环比均实现大幅收窄。 预计2025年第三季度新签订单15.93亿元，同比大幅增长145.80%。公司预计2025年前三季度新签订单 32.49亿元，已超过2024年全年新签订单水平。 ...

Core Viewpoint - The company, Chip Original Co., Ltd., anticipates a significant increase in revenue and improved profitability by the third quarter of 2025, indicating strong growth potential in its operations [1] Financial Projections - The company expects to achieve a revenue of 1.284 billion yuan in the third quarter of 2025, representing a quarter-on-quarter growth of 119.74% and a year-on-year growth of 78.77% [1] - The profitability is projected to improve significantly, with a substantial reduction in quarterly losses compared to both the previous quarter and the same quarter last year [1]

格隆汇10月8日｜芯原股份公告称，预计2025年第三季度实现营业收入12.84亿元，环比增长119.74%， 同比增长78.77%。公司预计第三季度盈利能力大幅提升，亏损同比、环比均实现大幅收窄。此外，公 司预计第三季度新签订单15.93亿元，同比增长145.80%，前三季度新签订单已超过2024年全年水平。公 司在手订单已连续八个季度保持高位，预计截至2025年第三季度末在手订单金额为32.86亿元，持续创 造历史新高。 ...

Core Viewpoint - Chip Origin Co., Ltd. is expected to achieve a record high quarterly revenue of 1.284 billion yuan in Q3 2025, with significant growth both sequentially and year-over-year [1] Financial Performance - The company anticipates a substantial increase in profitability for Q3 2025, with a significant reduction in quarterly losses compared to both the previous quarter and the same quarter last year [1] - The projected revenue for Q3 2025 represents a quarter-over-quarter increase of 119.74% and a year-over-year increase of 78.77% [1] Order Growth - Chip Origin expects to sign new orders worth 1.593 billion yuan in Q3 2025, reflecting a year-over-year increase of 145.80% [1] - For the first three quarters of 2025, the company anticipates total new orders of 3.249 billion yuan, surpassing the total new orders for the entire year of 2024 [1]

Core Viewpoint - The support for hard technology companies to go public is not only a reform of the financial market but also a core measure for the country to promote the transformation of development models and compete for future strategic high ground [2][7]. Group 1: Market Trends - In 2025, China's capital market is entering a technology-driven bull market, with a significant increase in the number of hard technology IPOs, accounting for nearly 60% of total IPOs [3][9]. - As of September 18, 2025, A-share IPOs have raised a total of 67.21 billion yuan, a year-on-year increase of 50.2%, with 70 companies going public, marking a recovery from the previous two years of decline [8][9]. - The Hong Kong market has also seen a surge in IPOs, with a total of 145.98 billion HKD raised, a year-on-year increase of 161.83% [8][10]. Group 2: Policy Support - The implementation of the "1+6" new policy for the Sci-Tech Innovation Board and the introduction of a third set of listing standards for the Growth Enterprise Market have broadened the listing pathways for unprofitable technology companies [4][19]. - The government has introduced a series of policies to promote the deep integration of technology and capital, creating a more favorable growth environment for hard technology companies [4][19]. Group 3: Institutional Involvement - Since the establishment of the Sci-Tech Innovation Board in 2019, more private equity institutions have chosen to invest in companies at the early stages of industrialization, facilitating rapid capital turnover [5][27]. - Securities firms are increasing their project reserves for hard technology IPOs, leveraging a comprehensive service network to promote resource integration and technology transformation [5][28]. Group 4: Future Outlook - The upcoming "15th Five-Year Plan" is expected to focus heavily on technology, with many institutions believing that technology will be a key theme in the plan [40][41]. - The capital market's support for hard technology companies is anticipated to accelerate core technology research and development, enhance industry chain integration, and improve China's position in global technology competition [34][35].