Cambricon(SH:688256) 2 1 Shi Ji Jing Ji Bao Dao·2025-08-30 05:46Core Viewpoint - A struggling AI chip company, Cambricon, has made a remarkable turnaround within a year, becoming a standout technology star in the A-share market, led by its founder Chen Tianshi, born in the 1980s [1]. Company Performance - As of August 29, Cambricon's stock price fell by 6.01%, with a total market capitalization of 624.4 billion, down 40 billion from the previous day's market cap of 664.3 billion [3]. - On August 28, Cambricon's stock surged by 15.73%, closing at 1587.91 yuan per share, reaching a total market cap of 664.3 billion, making it the new "king of stocks" in A-shares, surpassing Kweichow Moutai's closing price of 1446.1 yuan [4]. - Following its rise to the top, Cambricon issued a risk warning, stating there are no new product release plans and projected annual revenue of 5 billion to 7 billion yuan for 2025 [4]. - In the first half of 2025, Cambricon reported a staggering revenue of 2.881 billion yuan, a year-on-year increase of 4347.82%, and a net profit of 1.038 billion yuan, reversing a loss of 530 million yuan from the previous year [11]. Founder Background - Chen Tianshi, the founder of Cambricon, has a net worth of approximately 180 billion yuan, holding a 28.63% stake in the company, which translates to a market value of around 190.5 billion yuan at the peak stock price [6][7]. - Born in 1985 in Nanchang, Jiangxi, Chen was a prodigy, entering the University of Science and Technology of China at the age of 16, where he was influenced by notable computer scientists [8]. Industry Context - The recent surge in Cambricon's stock has positively impacted the entire AI chip sector, leading to a reevaluation of several related companies and creating significant wealth effects [4]. - The current market is characterized by a shift towards technology stocks, with many leading tech stocks outperforming traditional sectors, indicating a changing investment logic [15]. - The ongoing economic transformation has reduced opportunities in traditional industries while increasing prospects in emerging sectors, particularly in AI and semiconductor technologies [16]. Challenges Ahead - Despite its recent success, Cambricon faces significant challenges, including supply chain risks due to its Fabless model and the need for international expansion to become a global player [13].