芯联集成第三季度亏损近3亿元，董事长赵奇：技术产品覆盖过半AI服务器电源价值

Core Insights - ChipLink Integrated reported a loss of nearly 300 million yuan in Q3 2025, with a total loss of 463 million yuan for the first three quarters of the year, although this represents a 32.32% reduction in losses compared to the same period last year [1] - The company achieved a gross profit margin of 3.97% in the first three quarters, an increase of 4.40 percentage points year-on-year, attributed to expanded sales and ongoing cost control [1] - The completion of the equity integration of its subsidiary, ChipLink Yuezhou, marks a significant enhancement in the company's capital strength and industrial synergy capabilities [1] Financial Performance - The company expects to achieve an annual revenue of 8 to 8.3 billion yuan, representing a growth of 23% to 28% compared to the previous year [2] - The net profit is anticipated to continue reducing losses, with expectations for improved profitability in 2026 due to the passing of the depreciation peak and increased production line output [2] - Capital expenditures exceeded 10 billion yuan in 2023, with a more stable approach expected starting in 2024, and capital expenditures optimized to 2.548 billion yuan in the first three quarters of 2025 [2] Market Opportunities - The demand for power devices and analog ICs is expected to grow due to the increasing penetration of new energy vehicles, recovery in the new energy sector, and the development of AI and robotics [1] - The company is actively expanding into the 800V high-voltage direct current (HVDC) market to enhance the efficiency of end-to-end power supply systems for data centers [3] - ChipLink Integrated has made significant progress in the AI server market, with its 8-inch silicon carbide MOS devices already being sampled to European and American AI companies [3] Product Development - The company’s technology products cover over 50% of the value of AI server power supplies, positioning it to benefit from explosive growth in the computing power industry [4] - The automotive laser radar market is experiencing rapid growth, with the company’s laser radar chips in high demand as they enter the thousand-yuan era [4] - The company has developed various products for robotics, including VCSELs, pressure sensors, and IMUs, which are now in mass production [5]