Montage Technology(SH:688008) Di Yi Cai Jing·2025-04-23 09:22Core Viewpoint - Company achieved significant growth in Q1 2025, with revenue of 1.22 billion yuan and net profit of 525 million yuan, driven by the demand for DDR5 memory interface chips and high-performance interconnect chips due to the AI industry trend [1][2] Financial Performance - In Q1 2025, the company reported revenue of 1.22 billion yuan, a year-on-year increase of 65.78%, and a net profit of 525 million yuan, up 135.14% year-on-year [1] - The sales revenue from interconnect chips reached 1.139 billion yuan, reflecting a year-on-year growth of 63.92% and a quarter-on-quarter increase of 17.19% [2] - The company set new historical highs for quarterly revenue, interconnect chip sales, and net profit attributable to shareholders, with these metrics showing continuous growth for eight consecutive quarters [1] Product Development - The interconnect chip product line is highlighted as the most outstanding, essential for enhancing system performance in intelligent computing systems [2] - The company has begun large-scale shipments of three new high-performance interconnect chip products, with expected sales revenue of approximately 422 million yuan in 2024, an eightfold increase from the previous year [2] - As of April 22, 2025, the company has over 1.29 billion yuan in orders for interconnect chips expected to be delivered in Q2 2025, with ongoing new orders from clients [2] Research and Development - In Q1 2025, the company's R&D expenditure was 153 million yuan, accounting for 12.52% of revenue, a decrease of 11.36 percentage points year-on-year [3] - The reduction in R&D spending is attributed to the postponement of AI computing chip development for data centers, allowing a strategic focus on high-speed interconnect chips [3] Stock Performance - The company's closing stock price was 74.11 yuan per share, reflecting a 1.79% increase [4]