澜起科技：业绩高增，运力芯片前景广阔

Core Viewpoint - The company aims to become a leading international interconnected chip design firm over the next five to ten years, focusing on interconnect chips to support cloud computing and AI infrastructure [1] Business Strategy - The company will expand its business layout from three dimensions: - Continuous investment in DDR memory interface product upgrades in the memory interconnect field to lead technological innovation [1] - Strengthening core underlying technology research and development in the PCIe/CXL interconnect field to promote product upgrades and market expansion [1] - Exploring niche markets in the Ethernet and optical interconnect fields through various methods to advance product layout [1] Financial Performance - The company reported a revenue of 3.639 billion yuan for 2024, a year-on-year increase of 59.2%, and a net profit of 1.412 billion yuan, up 213.1% [1] - In Q1 2025, the company achieved a record high in revenue and net profit, with revenue of 1.222 billion yuan, a year-on-year growth of 65.78%, and a net profit of 525 million yuan, an increase of 135.14% [1] - As of April 22, 2025, the company expects over 1.29 billion yuan in orders for interconnect chips to be delivered in Q2 2025, with new orders still being received [1] Industry Insights - The chairman noted that advancements in AI technology are shifting the industry from "computing" to "intelligent computing," with generative AI and large language models reshaping the tech sector and driving growth in the AI server market [1] - The AI infrastructure sector continues to benefit from this transformation, with interconnect capabilities becoming increasingly important [1] - The company has a strong technical foundation in interconnect chips and actively participates in the formulation of related product standards [1]