Zheng Quan Shi Bao Wang·2025-08-28 13:03Group 1: Financial Performance - Company achieved revenue of 32.348 billion RMB in the first half of the year, a year-on-year increase of 23.1% [1] - Net profit reached 2.301 billion RMB, up 39.8% year-on-year, while the net profit excluding non-recurring items was 1.904 billion RMB, a 47.8% increase [1] - Gross margin improved to 21.9%, an increase of 8 percentage points from the previous year's 13.9% [1] - Operating cash flow net amount was 5.898 billion RMB, reflecting an 81.7% year-on-year growth [1] Group 2: Revenue Structure - Consumer electronics accounted for the highest revenue share at 40.8%, up 7.4 percentage points year-on-year [2] - Industrial and automotive sectors saw an increase to 10.1%, a rise of 2.4 percentage points, indicating a rebound in automotive electronics and growth in industrial demand [2] - Smartphone sector's revenue share decreased to 24.6%, down 6.9 percentage points year-on-year [2] - Revenue from 12-inch wafers increased to 77.1%, up from 74.5% in the previous year, indicating a shift towards larger wafer sizes [2] Group 3: R&D and Innovation - R&D expenses amounted to 2.375 billion RMB, representing 7.3% of revenue, a decrease from 10.0% in the previous year [3] - The company has obtained a total of 14,215 authorized patents, including 12,342 invention patents [3] - Key process platforms are advancing as planned, including the release of new PDKs for 28nm ultra-low leakage and 40nm embedded flash memory [3] - Management anticipates continued channel stocking and replenishment through Q3 2025, with limited impact on capacity utilization despite the traditional seasonal slowdown in Q4 [3]