Zhong Guo Ji Jin Bao·2025-08-31 13:20Group 1: Industry Overview - In the first half of 2025, three major domestic chip design companies are experiencing significant milestones, with Haiguang Information aiming to build a platform-based "computing aircraft carrier," Cambricon achieving breakthroughs in commercialization, and Loongson Technology entering a new growth cycle despite ongoing losses [1][4][6]. Group 2: Cambricon's Performance - Cambricon reported a revenue of 2.881 billion yuan in the first half of 2025, a year-on-year increase of 4347.82%, and a net profit of 1.038 billion yuan, marking a turnaround to profitability [2]. - The company achieved positive net profit and net profit excluding non-recurring gains for the first time in the first half of 2025, following a trend of sequential growth in revenue and net profit from Q4 2024 to Q2 2025 [2][3]. - Cambricon's products have been widely recognized and deployed in key industries such as telecommunications, finance, and the internet, indicating successful large-scale commercialization [3]. Group 3: Haiguang Information's Strategy - Haiguang Information achieved a revenue of 5.464 billion yuan in the first half of 2025, a year-on-year growth of 45.21%, and a net profit of 1.201 billion yuan, reflecting a 40.78% increase [4][5]. - The ongoing merger with Zhongke Shuguang aims to create a comprehensive domestic computing giant covering chip design, server, storage systems, and cloud computing services, which is expected to significantly impact China's computing industry [4][5]. Group 4: Loongson Technology's Challenges - Loongson Technology reported a revenue of 244 million yuan in the first half of 2025, a year-on-year increase of 10.9%, but continued to face losses with a net profit of -295 million yuan, a decline of 23.66% [6][7]. - The company is transitioning from a focus on product development to market sales, indicating a new growth phase, but it faces intense competition from domestic and international CPU manufacturers [6][7].