寒武纪半年狂赚10亿却备26亿存货，高管回应

Core Viewpoint - A Chinese AI chip company, Cambricon, has reported significant financial recovery and growth, achieving a revenue of 2.881 billion yuan in the first half of 2025, marking a year-on-year increase of 4347.82% and a net profit of 1.038 billion yuan, successfully turning losses into profits [1][6]. Financial Performance - In the first half of 2025, Cambricon's revenue reached 2.881 billion yuan, a substantial increase from 64.76 million yuan in the same period last year, representing a growth of 4347.82% [6]. - The net profit attributable to shareholders was 1.038 billion yuan, compared to a loss of 530 million yuan in the previous year, indicating a successful turnaround [6]. - Operating cash flow improved significantly, reaching 911 million yuan, up from a negative 631 million yuan in the previous year, reflecting enhanced market order fulfillment and customer payment willingness [6]. Market Position and Strategy - Cambricon's chairman, Chen Tian Shi, emphasized the growing demand for AI computing power in China, which is the world's largest integrated circuit consumer, creating vast market opportunities for the industry [3]. - The company is focusing on continuous R&D innovation in AI chip design to enhance its core competitiveness and capitalize on the booming AI market [3][14]. Product Development and Applications - Cambricon's products support various AI tasks, including large model training and inference, and are compatible with mainstream open-source models like LLaMA, GPT, and BLOOM [7]. - The company has made significant progress in deploying its cloud product line across key industries such as telecommunications, finance, and internet services [7]. R&D Investment - In the first half of 2025, Cambricon invested 456 million yuan in R&D, a 2.01% increase from the previous year, maintaining a focus on technological innovation despite a decrease in R&D spending as a percentage of revenue to 15.85% [11]. - The company has a robust R&D team, with 77.95% of its employees engaged in R&D, and a significant number holding advanced degrees [11]. Future Plans - Cambricon plans to raise up to 3.985 billion yuan through a private placement to fund projects related to AI chip platforms and software platforms, aiming to enhance its capabilities in the rapidly evolving AI landscape [12][13]. - The company is committed to focusing on AI chip design and expanding its market share while accelerating the implementation of its products in various applications [14].