芯原股份预计 第三季度营收12.84亿元

Core Insights - Chipone Technology (688521) expects to achieve a record high revenue of 1.284 billion yuan in Q3 2025, with a significant quarter-on-quarter increase of 119.74% and a year-on-year increase of 78.77% [1] - The company anticipates a substantial improvement in profitability for Q3 2025, with a significant reduction in quarterly losses compared to both year-on-year and quarter-on-quarter [1] - Chipone Technology projects new orders of 1.593 billion yuan in Q3 2025, representing a year-on-year increase of 145.80% [1] Revenue Breakdown - The revenue growth in Q3 2025 is primarily driven by the increase in one-stop chip customization services [1] - Expected revenue from chip design services is 429 million yuan, with a quarter-on-quarter growth of 291.76% and a year-on-year growth of 80.67% [1] - Anticipated revenue from mass production services is 609 million yuan, with a quarter-on-quarter growth of 133.02% and a year-on-year growth of 158.12% [1] - Expected revenue from intellectual property licensing fees is 213 million yuan, with a quarter-on-quarter growth of 14.14% and year-on-year figures remaining stable [1] Order Status - Chipone Technology expects to sign new orders worth 1.593 billion yuan in Q3 2025, with approximately 65% of these orders related to AI computing [2] - The total new orders for the first three quarters are projected to be 3.249 billion yuan, surpassing the total new orders for the entire year of 2024 [2] - The company has maintained a high level of backlog orders for eight consecutive quarters, with an estimated backlog of 3.286 billion yuan by the end of Q3 2025 [2] - Nearly 90% of the backlog orders are from one-stop chip customization services, with an expected conversion rate of about 80% within one year [2] Market Position - Chipone Technology is recognized for providing comprehensive one-stop chip customization services and semiconductor IP licensing, being referred to as "China's first semiconductor IP stock" since its listing in 2020 [2] - According to IPnest statistics, Chipone Technology holds the largest market share in China's semiconductor IP licensing business and ranks eighth globally for 2024 [2] - The company ranks sixth globally in terms of intellectual property licensing fee revenue [2] AI ASIC Development - In the AI ASIC sector, Chipone Technology has launched a hardware and software chip customization platform for AI applications, covering various devices such as smartwatches, AR/VR glasses, and high-performance cloud computing equipment [3] - In the first half of 2025, AI-related revenue accounted for approximately 52% of the company's chip design business revenue [3] - In Q2 2025, the company achieved a revenue of 584 million yuan, with a quarter-on-quarter growth of 49.90%, driven by increases in intellectual property licensing fees and mass production revenue [3] - As of the end of Q2 2025, the company's backlog orders amounted to 3.025 billion yuan, reflecting a quarter-on-quarter increase of 23.17% [3]