唯捷创芯(688153) - 2025 Q2 - 季度财报

Part I Definitions Common Terminology Definitions This chapter defines key terms and abbreviations, including company entities, major clients, industry technologies, and financial reporting periods, to ensure consistent report understanding - The reporting period is defined as January 1, 2025, to June 30, 2025[10] - Vanchip (Tianjin) Electronic Technology Co., Ltd. is referred to as “Vanchip” or “the Company”[10] - Radio Frequency Front-End (RFFE) is a critical part of communication systems between the antenna and intermediate frequency circuits, including RF power amplifiers, filters, duplexers, RF switches, and RF low-noise amplifiers[11] Part II Company Profile and Key Financial Indicators I. Company Basic Information Vanchip (Tianjin) Electronic Technology Co., Ltd. specializes in RF front-end chip R&D, design, and sales, with its legal representative and main address in Tianjin - The company's Chinese name is Vanchip (Tianjin) Electronic Technology Co., Ltd., abbreviated as Vanchip[14] - The legal representative is Sun Yijun, and the company's registered and office address is Room 2701-3, Building 2, No. 19 Xinhuan West Road, Tianjin Economic-Technological Development Area[14] - The company's website is www.vanchip.com, and its email is IR@vanchip.com[14] II. Contact Persons and Information The company's Board Secretary is Zhao Yanping, Securities Affairs Representative is Gao Yuan, with consistent contact details and phone number - The Board Secretary (domestic information disclosure representative) is Zhao Yanping, and the Securities Affairs Representative is Gao Yuan[15] - The contact number is 010-84298116-3666, and the email is IR@vanchip.com[15] III. Information Disclosure and Document Availability Changes The company designates Shanghai Securities News for disclosure, publishes semi-annual reports on www.sse.com.cn, and stores them at the Board of Directors' Office - The designated information disclosure newspaper is Shanghai Securities News (www.cnstock.com)[16](index=16&type=chunk) - The website for publishing semi-annual reports is www.sse.com.cn[16](index=16&type=chunk) - The company's semi-annual report is available at the Board of Directors' Office[16] IV. Company Stock/Depositary Receipt Overview The company's A-shares are listed on the STAR Market of the Shanghai Stock Exchange, with stock name 'Vanchip' and code 688153 - The company's stock type is RMB ordinary shares (A-shares), listed on the STAR Market of the Shanghai Stock Exchange[17] - The stock name is 'Vanchip', and the stock code is 688153[17] VI. Company's Key Accounting Data and Financial Indicators In H1 2025, revenue decreased 7.93% to RMB 987 million, with a net loss of RMB 9.43 million, down 183.72%, due to market competition; Q2 gross margin improved 6.75 percentage points to 28.02%, and operating cash flow turned positive Key Accounting Data for H1 2025 | Key Accounting Data | Current Period (Jan-Jun) (yuan) | Prior Period (yuan) | Change from Prior Period (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 986,665,370.35 | 1,071,595,699.79 | -7.93 | | Total Profit | -21,349,734.32 | 20,031,326.13 | -206.58 | | Net Profit Attributable to Shareholders of Listed Company | -9,433,641.65 | 11,268,584.22 | -183.72 | | Net Profit Attributable to Shareholders of Listed Company After Deducting Non-recurring Gains and Losses | -20,425,296.45 | -11,629,896.20 | N/A | | Net Cash Flow from Operating Activities | 456,950,423.53 | -207,722,923.10 | N/A | | Net Assets Attributable to Shareholders of Listed Company | 3,950,574,585.43 | 3,992,010,080.34 | -1.04 | | Total Assets | 4,411,612,626.76 | 4,589,971,914.29 | -3.89 | Key Financial Indicators for H1 2025 | Key Financial Indicators | Current Period (Jan-Jun) | Prior Period | Change from Prior Period (%) | | :--- | :--- | :--- | :--- | | Basic Earnings Per Share (yuan/share) | -0.02 | 0.03 | -166.67 | | Diluted Earnings Per Share (yuan/share) | -0.02 | 0.03 | -166.67 | | Basic EPS After Deducting Non-recurring Gains/Losses (yuan/share) | -0.05 | -0.03 | N/A | | Weighted Average Return on Net Assets (%) | -0.23 | 0.28 | Decrease 0.51 percentage points | | Weighted Average Return on Net Assets After Deducting Non-recurring Gains/Losses (%) | -0.51 | -0.29 | Decrease 0.22 percentage points | | R&D Investment as % of Operating Revenue (%) | 20.55 | 20.73 | Decrease 0.18 percentage points | - The year-on-year decline in performance was mainly due to intensified competition in the RF front-end chip market, leading to downward price pressure on some of the company's products, thereby compressing profit margins[20] - In Q2 2025, the company's overall gross margin increased by 6.75 percentage points from Q1 to 28.02%[20] - Net cash flow from operating activities was RMB 457 million, turning positive from a negative figure in the prior period, a year-on-year increase of RMB 665 million, primarily due to continuous inventory consumption and reduced cash payments for goods purchased during the reporting period[21] VIII. Non-recurring Gains and Losses Items and Amounts During the reporting period, total non-recurring gains and losses were RMB 10.99 million, mainly from government subsidies, fair value changes of financial instruments, and other non-operating income/expenses Non-recurring Gains and Losses Items for H1 2025 | Non-recurring Gains and Losses Item | Amount (yuan) | | :--- | :--- | | Government subsidies recognized in current profit/loss | 10,256,782.61 | | Gains/losses from changes in fair value of financial assets and liabilities held by non-financial enterprises, and gains/losses from disposal of financial assets and liabilities, excluding effective hedge accounting related to normal business operations | 1,831,103.12 | | Other non-operating income and expenses apart from the above | 843,472.87 | | Less: Impact on minority interests (after tax) | 1,939,703.80 | | Total | 10,991,654.80 | IX. Companies with Equity Incentive or Employee Stock Ownership Plans May Disclose Net Profit After Deducting Share-based Payment Impact In H1 2025, net profit after deducting share-based payment impact was RMB 0.92 million, a 97.66% year-on-year decrease, highlighting the significant impact of share-based payments Net Profit After Deducting Share-based Payment Impact | Key Accounting Data | Current Period (Jan-Jun) (yuan) | Prior Period (yuan) | Change from Prior Period (%) | | :--- | :--- | :--- | :--- | | Net Profit After Deducting Share-based Payment Impact | 923,777.87 | 39,420,644.35 | -97.66 | Part III Management Discussion and Analysis I. Industry and Main Business Overview During the Reporting Period The company specializes in RF front-end chip R&D, design, and sales for smart devices, leading domestic market penetration amidst global oligopoly and driving growth with 5G, Wi-Fi, and AI solutions - The company primarily engages in the R&D, design, and sales of integrated circuit