龙芯中科前三季度“增收不增利”

Core Viewpoint - Longxin Zhongke reported a revenue of approximately 351 million yuan for the first three quarters of 2025, showing a year-on-year growth of 13.94%, but the net loss attributable to shareholders expanded to about 394 million yuan [1][2]. Financial Performance - Revenue for the first three quarters of 2025 reached approximately 351 million yuan, marking a year-on-year increase of 13.94% [1]. - The net loss attributable to shareholders for the same period was approximately 394 million yuan, indicating an increase in losses compared to the previous year [1]. Market and Product Development - The company has shifted its focus from R&D to market development, with R&D investment for the first three quarters of 2025 amounting to approximately 376 million yuan, a decrease of 5.15% year-on-year [3]. - R&D expenditure accounted for 107.16% of revenue, down by 21.57 percentage points year-on-year [3]. - Longxin Zhongke plans to enhance its market competitiveness and aims to increase its market share in PC chips and server sectors, anticipating a new growth cycle from 2025 to 2027 [3]. Future Outlook - The company expects to enter a new growth phase driven by increasing market demand and policy requirements for domestic products, with expectations for mass production and shipment of new products by 2026 [3]. - Longxin Zhongke is preparing to tap into open markets over the next two to three years to establish a foundation for sustainable growth [3].