科创板首份三季报出炉！海光信息Q3营收、归母净利双双创新高

Core Viewpoint - Haiguang Information has reported record high revenue and net profit for the third quarter of 2025, indicating strong performance in the context of surging domestic computing power demand [2][3]. Company Performance - Haiguang Information's Q3 revenue exceeded 4 billion, reaching approximately 40.26 billion, a year-on-year increase of 69.6% and a quarter-on-quarter increase of 31.38% [2]. - The net profit attributable to the parent company for Q3 was 7.6 billion, marking a historical high with a year-on-year growth of 13.04% and a quarter-on-quarter growth of 9.26% [2]. - For the first three quarters of the year, total revenue was 94.9 billion, up 54.65% year-on-year, while net profit reached 19.61 billion, reflecting a year-on-year increase of 28.56% [2]. Financial Health - The net cash flow from operating activities for the first three quarters was 22.55 billion, a significant increase of 465.64% year-on-year [3]. - As of the end of Q3, the total of prepaid expenses and inventory was 91.20 billion, with contract liabilities amounting to 28 billion, indicating a robust market environment for the domestic computing power industry [3]. Research and Development - Haiguang Information increased its R&D investment to 29.35 billion in the first three quarters, a year-on-year growth of 35.38% [3]. - The R&D investment ratio decreased by 4.4 percentage points compared to the same period last year, reflecting a larger revenue base [3]. Industry Trends - Multiple semiconductor companies have reported positive earnings forecasts, indicating a favorable trend in the semiconductor industry [5]. - Zhongke Shuguang reported a revenue of 88.04 billion for the first three quarters, a year-on-year increase of 9.49%, and a net profit of 9.55 billion, up 24.05% [5]. - The semiconductor industry is experiencing a recovery, with demand for AI computing, AIOT, and semiconductor equipment showing structural opportunities [7].