Cambricon(SH:688256) Mei Ri Jing Ji Xin Wen·2025-10-17 15:32Core Viewpoint - Cambricon Technologies (SH688256) reported significant revenue growth and profitability turnaround in Q3 2025, with a revenue of 1.727 billion yuan, a year-on-year increase of 1332.52%, and a net profit of 567 million yuan, marking a return to profitability [1][2]. Financial Performance - In Q3 2025, the company achieved a revenue of 1.727 billion yuan, up 1332.52% year-on-year, and a net profit of 567 million yuan, reversing previous losses [1][2]. - For the first three quarters of 2025, Cambricon reported a total revenue of 4.607 billion yuan, a year-on-year increase of 2386.38%, with a net profit of 1.605 billion yuan, also indicating a turnaround from losses [1][2]. Business Overview - Cambricon specializes in the research, design, and sales of AI core chips used in cloud servers, edge computing devices, and terminal devices. Its main business lines include cloud products, edge products, IP licensing, and software [2]. - The company launched its first commercial AI chip, Cambricon 1A, in 2016, which was integrated into Huawei's Kirin 970, enhancing the AI capabilities of Huawei's flagship smartphone, Mate 10. Subsequent products have been developed for various applications, including image recognition and intelligent driving [2]. Market Context - The emergence of ChatGPT in late 2022 marked the beginning of a new era in computing power, leading to a surge in demand for AI chips globally. Cambricon is positioned to benefit from this trend, especially given the increased demand for domestic chips amid U.S. export restrictions [2]. - The company's stock price has increased by over 89% this year, outperforming major competitors like Kweichow Moutai [2]. Shareholder Activity - Notably, prominent investor Zhang Jianping increased his holdings from 6.0863 million shares to 6.4065 million shares, raising his stake from 1.46% to 1.53% of total circulating shares [7][8].