Leadyo(SH:688135) Zheng Quan Shi Bao Wang·2025-12-01 09:19Core Insights - Liyang Chip (688135) reported a revenue of 443 million yuan for the first three quarters of 2025, representing a year-on-year growth of 23.11%, and a net profit attributable to shareholders of 754,700 yuan, up 106.19% [1] Group 1: Business Overview - Liyang Chip specializes in semiconductor backend manufacturing, focusing on integrated circuit testing solutions and has become one of the largest independent third-party integrated circuit testing bases in China [1] - The company is implementing a "one body, two wings" strategic layout, with the left wing focusing on technology services such as wafer thinning, laser grooving, and stealth cutting, which enhance product quality and reduce costs [1][2] - The company has developed leading ultra-thin chip thinning technology capable of processing below 25μm, and its stealth cutting technology has broken foreign monopolies, reducing cutting paths to 20μm and significantly lowering costs [1][2] Group 2: Technological Advancements - Liyang Chip has established an exclusive partnership with Dieling Optoelectronics to provide wafer heterogeneous stacking and testing services, enhancing imaging capabilities under complex weather conditions for applications in autonomous driving and robotics [2] - The company has accumulated 44 categories of chip testing solutions and has completed mass testing for thousands of chip models, amassing data in the hundreds of billions, applicable to various end-user scenarios [2] Group 3: Future R&D Plans - Future R&D projects include high-pixel CMOS image sensor testing solutions, high-performance robotic vision processing chip testing, AI computing chip testing platforms, and reliability testing for automotive control chips [3] - The company plans to increase investment in R&D across automotive electronics, industrial control, high-performance computing, sensors, storage, autonomous driving, and robotics [3] - As of the first three quarters of 2025, the company holds a total of 298 patents and software copyrights, with R&D accounting for 12.89% of its expenditures [3]