复旦微电(688385) - 2025 Q2 - 季度业绩预告

2025 Semi-Annual Performance Forecast The company forecasts a slight revenue increase for H1 2025, but significant year-on-year declines in net profit attributable to shareholders and non-recurring net profit Core Performance Indicators Forecast The company anticipates a slight revenue increase of 1.44% to 3.12% for H1 2025, while net profit attributable to shareholders and non-recurring net profit are expected to decline significantly by 39.67% to 48.29% and 35.24% to 44.95% respectively, indicating revenue growth without profit increase Key Financial Performance Forecast for H1 2025 | Indicator | 2025 H1 Forecast (RMB) | 2024 H1 Prior Period (RMB) | Year-on-Year Change | | :--- | :--- | :--- | :--- | | Operating Revenue | 1.82 billion - 1.85 billion | 1.794 billion | +1.44% to +3.12% | | Net Profit Attributable to Parent | 180 million - 210 million | 348 million | -39.67% to -48.29% | | Non-recurring Net Profit Attributable to Parent | 170 million - 200 million | 309 million | -35.24% to -44.95% | Analysis of Performance Changes The significant decline in net profit is primarily due to a decrease in other income and a substantial increase in inventory impairment losses Revenue and Gross Margin Analysis Despite intense market competition, the company achieved slight revenue growth by expanding new products and markets, with integrated circuit design product lines (excluding NVM) showing growth, while maintaining a stable overall gross margin year-on-year - Revenue growth primarily stemmed from the integrated circuit design segment (excluding NVM), as the company expanded new products and markets to address intense competition[6] - During the reporting period, the company's overall gross margin remained largely stable year-on-year[6] Primary Reasons for Profit Decline The significant decline in net profit is primarily due to a decrease of approximately RMB 68 million in other income from reduced VAT deductions and government subsidies, and a substantial increase of approximately RMB 140 million in inventory impairment losses due to decreased demand and longer inventory age - Other income decreased by approximately RMB 68 million, primarily due to reduced VAT super deduction for integrated circuit design enterprises and fewer government grants from project completion[6] - Inventory impairment losses increased by approximately RMB 140 million year-on-year, mainly due to decreased demand for certain products and extended inventory age[6] Risk Warning and Other Disclosures The company states no significant uncertainties affecting the accuracy of this performance forecast have been identified, advising investors to consult the 2024 Annual Report for detailed risk factors Risk Warning The company states no significant uncertainties affecting the accuracy of this performance forecast have been identified, advising investors to consult the 2024 Annual Report for detailed risk factors - The company has not identified any significant uncertainties affecting the accuracy of this performance forecast[7] - For potential risk factors in the company's operations, refer to the 2024 Annual Report[7] Other Disclosures This announcement is a voluntary disclosure under Hong Kong and Shanghai listing rules, emphasizing that forecast data are preliminary and final financial figures will be based on the official 2025 semi-annual report, cautioning investors about investment risks - This announcement is made in accordance with the listing rules of both Hong Kong and Shanghai stock exchanges[8] - The forecast data are preliminary, and the final financial figures will be subject to the official semi-annual report[8]