寒武纪股价一度大跌13%，市值蒸发超694亿元

Core Viewpoint - The stock price of Cambrian (688256.SH) has experienced a significant decline, attributed to an index adjustment announcement and market speculation regarding its operational performance [1][4][5] Group 1: Stock Performance - On September 4, Cambrian's stock price dropped over 13%, closing down 11.90% at 1237.83 CNY per share, resulting in a market capitalization of 517.85 billion CNY, with a loss of over 69.4 billion CNY in market value compared to the previous day [1][4] - The stock had previously reached a high of 1587.91 CNY per share on August 28, with a peak market capitalization of 663.7 billion CNY [4] Group 2: Index Adjustment - The Shanghai Stock Exchange announced on August 29 that Cambrian's weight in the Sci-Tech 50 Index will be reduced from approximately 15% to 10%, effective after the market closes on September 12, 2025 [4] - Major shareholders, including the Huaxia and E Fund ETFs, hold over 4.7% of Cambrian's shares, which may be affected by this index adjustment [4] Group 3: Financial Performance and Forecast - Cambrian's half-year report indicated a revenue of 2.88 billion CNY, a year-on-year increase of 4347.82%, and a net profit of 1.038 billion CNY, marking a turnaround from previous losses [5] - The company management has projected a revenue forecast of 5 to 7 billion CNY for the full year of 2025, although this is a preliminary estimate and not a commitment [5] Group 4: Market Speculation - There were rumors that Alibaba was increasing orders for Cambrian's chips due to supply issues with Nvidia, specifically a reported order of 150,000 units, which was later denied by Alibaba [5]