寒武纪: 股票交易风险提示公告

Core Viewpoint - The company, Cambricon Technologies Corporation Limited, has experienced a significant stock price increase of 133.86% from July 28, 2025, to August 28, 2025, which raises concerns about the stock being detached from its current fundamentals and potential risks for investors [1][2]. Group 1: Financial Performance - The company forecasts an annual revenue of between 500 million yuan and 700 million yuan for the year 2025, based on management's preliminary estimates [1]. - As of August 28, 2025, the company's closing stock price is 1587.91 yuan per share, with a rolling price-to-earnings (P/E) ratio of 5117.75 times and a price-to-book (P/B) ratio of 113.98 times, significantly higher than the industry averages of 88.97 times for P/E and 5.95 times for P/B [2]. Group 2: Product and Supply Chain - The company has no new product release plans, and recent information circulating about new products is deemed misleading [2]. - The company operates under a Fabless model, relying on various suppliers, including IP licensing firms and wafer manufacturers. The inclusion of the company and some subsidiaries on the "entity list" poses risks to the stability of its supply chain, which may adversely affect operational performance [2]. Group 3: Stock Price Sensitivity - The company's stock price increase has outpaced that of relevant indices, including the Sci-Tech Innovation Board Index and the Shanghai Composite Index, indicating a significant divergence from market trends [1][2]. - There are no other major events or sensitive information identified that could significantly impact the stock price, and there have been no trading activities by company executives or major shareholders [3].