Zhong Guo Ji Jin Bao·2025-08-31 13:35Core Insights - In the first half of 2025, the three major domestic chip design companies are experiencing significant milestones in their respective journeys [3] Group 1: Cambrian's Performance - Cambrian achieved a revenue of 2.881 billion yuan, a year-on-year increase of 4347.82%, and a net profit of 1.038 billion yuan, marking a turnaround to profitability [4] - The company reported a net cash flow from operating activities of 2.311 billion yuan in Q2 2025, a substantial increase from -1.399 billion yuan in Q1 2025 [4] - Cambrian's products have been widely recognized and deployed in key industries such as telecommunications, finance, and the internet, indicating successful commercialization [5] Group 2: Haiguang's Strategy - Haiguang Information reported a revenue of 5.464 billion yuan, a year-on-year growth of 45.21%, and a net profit of 1.201 billion yuan, up 40.78% [6] - The ongoing merger with Zhongke Shuguang aims to create a comprehensive domestic computing powerhouse, covering chip design to cloud computing services [7] - This merger is expected to significantly impact China's computing industry and enhance Haiguang's ecosystem [7] Group 3: Longxin's Challenges - Longxin Zhongke achieved a revenue of 244 million yuan, 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% [9] - The company is entering a new growth cycle, with significant progress in the development of new CPU products, although it faces intense competition from both domestic and international manufacturers [9] - Longxin's focus is shifting from product development to market sales, highlighting the need to improve product performance and expand its ecosystem for future profitability [9]