Core Insights - InnoScience (02577) reported a significant increase in sales revenue for the first half of 2025, reaching 553.4 million yuan, a year-on-year growth of 43.4% [1] - The gross margin improved to +6.8%, a substantial increase of 28.4 percentage points compared to the -21.6% in the same period of 2024, marking a milestone in achieving positive gross profit [1] - The net loss narrowed to approximately 429 million yuan, a decrease of 12.16% year-on-year [1] Revenue Growth - The revenue growth was primarily driven by the expanding applications of gallium nitride (GaN), with customer demand rapidly increasing [1] - Revenue from GaN discrete devices and integrated circuits amounted to approximately 207 million yuan, a year-on-year increase of 49.9%, largely due to the ongoing expansion in electric vehicles, data centers, and industrial applications [1] - Revenue from GaN modules reached approximately 236 million yuan, a remarkable increase of 121.7%, attributed to deepening collaborations with customers and continuous product iterations [1] Margin Improvement - The improvement in gross margin was mainly due to increased revenue, the release of production scale effects, and ongoing optimization of production processes to reduce costs [1] AI and Data Center Sales - Sales targeting AI and data centers saw a year-on-year growth of 180% [1] - The company entered mass production for 48V-12V applications based on 100V GaN technology [1] - The company became the sole domestic supplier on NVIDIA's list for 800V high-voltage direct current solution chips, with GaN being adopted in NVIDIA's next-generation architecture, marking the entry of GaN into the energy-efficient era for AI and data centers [1] Automotive Electronics Growth - Automotive electronic products, including those used in lidar and on-board chargers (OBC), continued to grow rapidly, with automotive-grade chip deliveries increasing by 128% year-on-year [2] - The company established a joint laboratory with leading global automotive electronics firms, signifying the entry of automotive electronics into the GaN era [2] Robotics Applications - GaN chips, known for their high frequency and power density, provide optimal solutions for humanoid robot joint motors and dexterous hand motor drives [2] - The company made significant progress in this field, collaborating with several leading robotics firms and achieving the first mass production shipment of robots equipped with GaN chips [2]
英诺赛科上半年营业收入持续高速增长，实现毛利率转正里程碑