Group 1 - The company InnoScience (02577) reported a mid-year revenue of 553.4 million yuan for 2025, representing a year-on-year growth of 43.4% [1] - The gross margin improved significantly to +6.8%, a 28.4 percentage point increase from -21.6% in the same period of 2024, marking a milestone in turning gross profit positive [1] - The net loss narrowed to approximately 429 million yuan, a decrease of 12.16% year-on-year [1] Group 2 - 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 reached approximately 207 million yuan, up 49.9% year-on-year, largely due to applications in electric vehicles, data centers, and industrial sectors [1] - Revenue from GaN modules was about 236 million yuan, a significant increase of 121.7% year-on-year, attributed to deepening cooperation with clients and continuous product iteration [1] Group 3 - 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 [2] - Sales targeting AI and data centers grew by 180% year-on-year, with the 100V GaN 48V-12V application entering mass production [2] - The company became the sole domestic supplier for NVIDIA's 800V high-voltage direct current solution, marking GaN's adoption in NVIDIA's new architecture and the entry of AI/data centers into an energy-efficient era [2] Group 4 - Automotive electronic products, including applications in lidar and on-board chargers, continued to grow rapidly, with automotive-grade chip deliveries increasing by 128% year-on-year [2] - The establishment of a joint laboratory with leading global automotive electronics companies signifies the entry of automotive electronics into the GaN era [2] - GaN chips' high frequency and high power density characteristics provide optimal solutions for humanoid robot joint motors and dexterous hand motor drives, with rapid progress in collaboration with several leading robotics companies [2]
英诺赛科(02577)上半年营业收入持续高速增长，实现毛利率转正里程碑