Xin Lang Cai Jing·2025-08-04 00:10Core Insights - The company is expected to achieve significant revenue growth in Q2 2025, with projected revenue of 584 million yuan, representing a quarter-on-quarter increase of 49.9% driven by growth in intellectual property licensing fees and volume business revenue [1] - The company's order backlog reached a historical high of 3.025 billion yuan by the end of Q2 2025, marking a quarter-on-quarter increase of 23% and maintaining a high level for seven consecutive quarters [1] - The one-stop chip customization business accounts for nearly 90% of the order backlog, indicating strong demand and growth potential in this segment [1] Industry Trends - The trend of large companies developing their own ASIC chips has become a consensus in the industry, influenced by the successful experiences of international giants like Google and Amazon [1] - Meta plans to launch its first ASIC chip in Q4 2025, further highlighting the industry's shift towards in-house ASIC development [1] Financial Projections - Based on the Q2 performance forecast, the company is projected to achieve revenues of 3 billion, 3.8 billion, and 4.7 billion yuan for the years 2025, 2026, and 2027 respectively [1] - The adjusted net profit forecast for the company is -100 million, 200 million, and 420 million yuan for the years 2025, 2026, and 2027 respectively, slightly revised from previous estimates [1]