寒武纪公告

Core Viewpoint - On August 28, 2025, Cambrian-U's stock price surged by 15.73%, closing at 1587.91 CNY per share, making it the highest-priced stock in A-shares, surpassing Kweichow Moutai for the first time in history [1] Group 1: Stock Performance - Cambrian's stock price increased by 133.86% from July 28, 2025, to August 28, 2025, significantly outperforming most peers and major indices such as the Sci-Tech Innovation Index and the Shanghai Composite Index [2][7] - The closing price of 1587.91 CNY per share on August 28, 2025, corresponds to a rolling price-to-earnings (P/E) ratio of 5117.75 and a price-to-book (P/B) ratio of 113.98, both of which are substantially higher than the industry averages of 88.97 for P/E and 5.95 for P/B [9] Group 2: Company Operations and Forecast - The company forecasts an annual revenue of between 500 million CNY and 700 million CNY for 2025, based on management's preliminary estimates [4] - There are no new product releases planned, and recent information circulating about new products is deemed misleading [5] Group 3: Supply Chain and Risks - The company operates on a Fabless model, relying on various suppliers, including IP licensors and wafer manufacturers. The inclusion of the company and some subsidiaries on the "entity list" poses risks to supply chain stability, potentially impacting operational performance [6]