紫光国微多款核心产品实现突破并落地应用

Core Insights - The company has significantly increased its R&D efforts this year, achieving breakthroughs in multiple core products that are now being applied in the market [1][3] - The new generation anti-counterfeiting chip T91-506 supports ultra-low voltage communication and has entered the electronic device and battery safety sectors [1] - The world's first open architecture security chip E450R was commercialized in June this year, leading the market in card issuance [1] - The eSIM solution has been adopted by several well-known device manufacturers, covering mobile communications, wearables, automotive electronics, and IoT terminals [1] Market Expansion - The smart security chip business is continuously expanding into overseas markets [3] - The special integrated circuit business, including high-end FPGA, clock, NFZ, and power products, has attracted multiple new clients [3] - NFZ products have progressed to the aerospace-grade directory access stage, and the company is involved in formulating the first domestic "Automotive Security Chip Application Field White Paper" to promote industry standardization [3] Financial Performance - For the first three quarters of 2025, the company achieved operating revenue of approximately 4.904 billion yuan, a year-on-year increase of 15.05% [3] - The net profit attributable to shareholders was approximately 1.263 billion yuan, up 25.04% year-on-year [3] - The net profit after deducting non-recurring items was approximately 1.163 billion yuan, reflecting a year-on-year growth of 32.34% [3] - The special integrated circuit business accounted for over 50% of revenue, while the smart security chip business made up over 40% [3] Industry Outlook - Industry experts believe that the company's product breakthroughs and applications have made substantial progress in "domestic substitution," "high-reliability security chips," and "industry standardization," which may lead to further growth in automotive electronics, financial security, and IoT applications [3] - However, short-term attention is needed on the global chip industry cycle and supply-demand changes [3]