Rockchip(SH:603893) Chang Jiang Shang Bao·2025-08-20 04:08Core Viewpoint - 瑞芯微 continues to show strong growth in the AIoT market, achieving record revenue and profit in the first half of 2025, driven by strategic product development and market expansion [1][2]. Financial Performance - In the first half of 2025, 瑞芯微 reported revenue of 2.046 billion yuan, a year-on-year increase of 64%, marking a historical high [1][2]. - The net profit for the same period reached 531 million yuan, reflecting a significant year-on-year growth of 191% [1][2]. - For the full year of 2024, 瑞芯微 achieved revenue of 3.136 billion yuan, up 46.94%, and net profit of approximately 595 million yuan, a substantial increase of 341.01% [2]. Market and Product Development - The company’s flagship products, such as RK3588 and the newer RK3576, have led to rapid growth across various AIoT product lines, particularly in automotive electronics, industrial applications, machine vision, and robotics [1][2]. - 瑞芯微 is positioned as one of the most diversified manufacturers in the domestic AIoT product line, with applications across nearly a hundred different fields [4]. Research and Development - From 2020 to the first half of 2025, 瑞芯微 has invested a total of 2.851 billion yuan in R&D, maintaining a consistent R&D expense ratio of around 20% of revenue over the past decade [4]. - In the first half of 2025, R&D expenses accounted for 13.64% of revenue, indicating a strategic focus on innovation [4]. - The company has filed 1,337 patent applications, including 1,279 invention patents, and has been granted 736 patents, with 678 being invention patents [5]. Future Outlook - 瑞芯微 anticipates continued growth in the AIoT sector, with a focus on the deployment of edge models that will redefine the functionality and interaction of smart hardware products [3]. - The company is actively developing new products, including the next-generation AI visual processor RV1126B and audio processor RK2116, among others [5].