Loongson Technology(SH:688047) Xin Lang Cai Jing·2025-11-09 14:36Core Insights - The company reported a 13.9% year-on-year increase in revenue for the first three quarters, but the net profit attributable to shareholders showed a slight increase in losses [1] - The company is entering a new growth cycle driven by its self-developed core technologies and successful product launches [2] - A stock incentive plan was announced, reflecting confidence in future growth and setting ambitious revenue targets for 2025 and 2026 [3] - The investment recommendation has been adjusted to reflect improved business conditions and optimistic revenue forecasts for the coming years [4] Financial Performance - For the first three quarters, the company achieved revenue of 351 million yuan, with a net loss of 394 million yuan, which is an increase in losses compared to the previous year [1] - In Q3 2025, revenue reached 107 million yuan, marking a 21.5% year-on-year increase, while the net loss narrowed slightly to 99 million yuan [1] Product Development - The company has established its core technology in processor and supporting chip development, marking a transition in its growth phase [2] - The successful development of new products has positioned the company's CPU to compete effectively in the market [2] Incentive Plan - The company announced a restrictive stock incentive plan, granting 530,862 shares at a price of 79.03 yuan per share, aimed at aligning employee performance with company growth [3] - The performance targets for the incentive plan are set at a revenue growth rate of 30% for 2025 and 100% for 2026 compared to 2024 [3] Investment Outlook - The investment outlook has been revised, with projected revenues for 2025-2027 set at 629 million, 913 million, and 1.256 billion yuan, respectively [4] - The net profit forecasts for the same period are adjusted to -323 million, -71 million, and 155 million yuan, indicating a path towards profitability [4]