Cambricon(SH:688256) Shang Hai Zheng Quan Bao·2025-12-16 05:35Core Viewpoint - The company, Cambrian, is utilizing its capital reserve of 2.778 billion yuan to offset accumulated losses, which is a strategic move to clear historical financial burdens and potentially enhance future profitability and shareholder returns [1][4][6]. Group 1: Financial Performance - Cambrian's stock price has seen a decline of 5.01% on December 16, with a total market value of 534.1 billion yuan and a cumulative drop of nearly 12% over the past five days [1]. - As of December 31, 2024, Cambrian's accumulated undistributed profits stand at -2.778 billion yuan, with a capital reserve balance of 9.625 billion yuan [4]. - The company reported a revenue of 4.607 billion yuan for the first three quarters of the year, marking a significant year-on-year increase of 2386.38%, and a net profit of 1.605 billion yuan, indicating a turnaround from previous losses [6][7]. Group 2: Strategic Implications - The decision to use capital reserves for loss compensation is based on the requirement that companies with negative undistributed profits cannot distribute profits to shareholders [6][7]. - This move is expected to facilitate future profit distribution and financing opportunities, as it alleviates the historical loss burden [6][7]. - Cambrian's main business involves the research, design, and sales of AI core chips for various applications, including cloud servers and edge computing devices, which positions the company for potential growth in the tech sector [7].