立昂微：2025年净利润同比减亏约54.47%

Core Viewpoint - The company, Lian Micro, is forecasting a net loss of approximately 121 million yuan for the year 2025, which represents a year-on-year reduction in losses of about 54.47% [1] Financial Performance - The net profit attributable to shareholders, excluding non-recurring gains and losses, is expected to be a loss of around 161 million yuan, reflecting a year-on-year reduction in losses of approximately 39.46% [1] - The main reasons for the changes in net profit include increased depreciation and amortization expenses of about 1.12 billion yuan, which rose by approximately 184.63 million yuan year-on-year [1] - The company has made a provision for inventory impairment of about 125.6 million yuan based on a cautious principle [1] - Interest expenses for convertible bonds amounted to 135.4 million yuan during the reporting period [1] - The acquisition of minority equity in a subsidiary led to a profit reduction of approximately 43.1 million yuan [1] Business Segment Performance - The semiconductor wafer segment has shown a recovery in profitability, with the average selling price of products gradually increasing from the first quarter of 2025 [1] - The production and sales scale of the company is steadily expanding, particularly with a significant increase in the sales volume of 12-inch wafers [1] - The comprehensive gross margin of the wafer business is expected to rise from 4.72% in 2024 to approximately 9% in 2025, driven by increased selling prices and reduced unit costs [1] - The negative gross margin situation for 12-inch wafers improved significantly, narrowing from -70.68% in 2024 to about -27% in 2025 [1] Non-Recurring Gains - Non-recurring gains attributable to shareholders increased significantly, with a year-on-year rise of approximately 39.95 million yuan, primarily due to fair value changes from stock holdings and increased investment income from the disposal of certain listed company stocks [1]