2 1 Shi Ji Jing Ji Bao Dao·2025-09-02 13:35Core Insights - The AI industry chain companies have shown varied performance in their mid-year reports, with a long-term positive trend driven by AI [1] - Approximately two-thirds of the 85 listed AI companies reported profits, with 15 companies experiencing net profit growth exceeding 100%, primarily in the computing infrastructure sector [1][2] Group 1: AI Infrastructure Performance - The AI infrastructure sector has seen significant growth, particularly in semiconductor and server manufacturers, driven by applications like DeepSeek [2] - Chinese AI semiconductor company Cambricon reported 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 its first profitable half-year [2] - Another leading domestic AI chip company, Haiguang Information, achieved a revenue of 3.763 billion yuan, up 44.08% year-on-year, with a net profit of 853 million yuan, a 25.97% increase [2] Group 2: Market Trends and Shifts - The demand for AI computing chips is surging, with local chips gaining market recognition, which is further boosting the performance of upstream wafer foundries [4] - Semiconductor manufacturer SMIC reported a revenue of 32.35 billion yuan, a 23.1% year-on-year increase, and a net profit of 1.9 billion yuan, up 47.8% [4] - Huahong Semiconductor's revenue for the first half of 2025 was 8.018 billion yuan, a 19.09% increase, but its net profit fell by 71.95% due to initial production costs and increased R&D expenses [4] Group 3: AI Model Development and Investment - Major internet companies like Alibaba and Tencent are enhancing AI model capabilities, leading to increased infrastructure demand, with Alibaba's capital expenditure reaching 38.7 billion yuan and Tencent's rising 119% year-on-year to 19.11 billion yuan [5] - The market is shifting from AI training to AI inference, with the demand ratio changing from 80% training to 70% inference [6][7] - The Chinese AI server market is experiencing rapid growth, with Inspur's revenue reaching 80.192 billion yuan, a 90.05% increase [7] Group 4: Policy and Future Outlook - The Chinese government has initiated the "Artificial Intelligence +" action plan, aiming for widespread integration of AI in six key areas by 2027, with a target application rate exceeding 70% for new intelligent terminals and agents [8][9] - This policy is expected to catalyze the comprehensive rollout of AI applications across various sectors, enhancing demand and ecosystem development [9]