刚刚！寒武纪，最新公告！

Core Viewpoint - The company, Cambricon, has issued a risk warning regarding its stock price, indicating that it may be detached from its current fundamentals, and investors could face significant risks [1][3]. Financial Performance - For the first half of 2025, Cambricon reported revenue of 2.881 billion yuan, a year-on-year increase of 4347.82%, and a net profit of 1.038 billion yuan, recovering from a loss of 530 million yuan in the same period last year [5]. - In Q2 2025, the company achieved revenue of 1.769 billion yuan, up 4425.01% year-on-year, and a net profit of 683 million yuan, compared to a net loss of 303 million yuan in Q2 2024 [5][6]. - The revenue growth from Q1 to Q2 2025 was 59%, and net profit increased by 92% [5]. Market Position and Valuation - As of August 28, 2025, Cambricon's stock price closed at 1587.91 yuan per share, with a market capitalization exceeding 660 billion yuan [2][4]. - The company's latest rolling price-to-earnings (P/E) ratio is 5117.75, and the price-to-book (P/B) ratio is 113.98, significantly higher than the industry averages of 88.97 for P/E and 5.95 for P/B [4]. Business Outlook - Cambricon anticipates achieving annual revenue between 5 billion and 7 billion yuan for 2025, based on current operational conditions [1][3]. - The company has no plans for new product releases, stating that recent online information regarding new products is misleading [1][3]. Supply Chain Risks - The company operates under a Fabless model and relies on various suppliers, which may pose risks to its supply chain stability due to the high specialization and technical barriers in the integrated circuit industry [4].