芯原股份Q3营收同比增长78.38%，净利润收窄至2685.11万元 | 财报见闻

Core Insights - The company reported record-high revenue in Q3, driven by strong order conversion and a surge in AI-related demand [1] - The net loss significantly narrowed year-on-year and quarter-on-quarter, indicating a strong rebound in performance [1] Financial Performance - Q3 revenue reached 1.281 billion yuan, a year-on-year increase of 78.38%, while the net loss attributable to shareholders reduced to 26.85 million yuan, a decrease of 75.82% compared to the same period last year and a 73.02% reduction quarter-on-quarter [1] - For the first three quarters, total revenue was 2.255 billion yuan, up 36.64%, with a net loss of 347 million yuan [1] Order Growth and AI Demand - New orders signed in Q3 amounted to 1.593 billion yuan, a substantial year-on-year increase of 145.80%, with cumulative new orders for the first three quarters reaching 3.249 billion yuan, surpassing the total for the entire year of 2024 [1] - Approximately 65% of the new orders in Q3 were related to AI computing power, highlighting its role as a key driver of growth [1] Order Backlog and Quality - As of the end of Q3, the company's order backlog rose to 3.286 billion yuan, marking a historical high for eight consecutive quarters [2] - High-quality orders from system manufacturers, large internet companies, cloud service providers, and automotive companies accounted for 83.52% of the total [2] - About 80% of these orders are expected to convert into revenue within a year, providing strong support for short-term performance [2] Revenue Composition - In Q3, the volume business generated 609 million yuan, a remarkable year-on-year increase of 157.84% and a quarter-on-quarter growth of 132.77% [2] - The chip design business also performed well, achieving revenue of 428 million yuan, up 80.23% year-on-year [2] - In contrast, revenue from intellectual property licensing remained stable at 212 million yuan year-on-year [2] - For the first three quarters, the one-stop chip customization business (including chip design and volume production) saw a revenue increase of 53.51%, significantly outpacing the 3.86% growth in semiconductor IP licensing [2]