VeriSilicon(SH:688521) Xin Lang Cai Jing·2025-08-25 21:09Group 1 - The core viewpoint of the article highlights that the company achieved a revenue of 9.74 billion yuan in the first half of 2025, representing a year-on-year growth of 4.49%, but reported a net loss of 3.2 billion yuan [1] - In Q2 2025, the company experienced a significant revenue increase of 49.90% quarter-on-quarter, reaching 5.84 billion yuan, primarily driven by growth in intellectual property licensing fees and volume business [2] - The company is expanding its presence in the data center/server market with its VPU, NPU, and GPGPU IPs, and has launched scalable high-performance GPGPU-AI computing IPs in collaboration with leading AI computing clients [2] Group 2 - The company is strategically hiring talented professionals to enhance its competitive edge, anticipating industry recovery and aiming to seize market opportunities [2] - Revenue projections for the company are estimated at 33.24 billion yuan, 43.15 billion yuan, and 55.35 billion yuan for the years 2025, 2026, and 2027, respectively, with corresponding price-to-sales ratios of 25.0, 19.2, and 15.0 times [2] - The company has a solid technical foundation and customer base in its ASIC business, benefiting from the ongoing trends in AI and custom chip development [2]