东芯股份：预计2025年净亏损1.74亿元-2.14亿元

Core Viewpoint - Dongxin Co., Ltd. (688110.SH) anticipates a net loss attributable to shareholders of the parent company between 174 million and 214 million yuan for the fiscal year 2025, despite a significant revenue growth of approximately 43.75% year-on-year and a substantial increase in gross margin [1] Financial Performance - The company projects a net loss of 1.74 billion to 2.14 billion yuan for 2025 [1] - Revenue is expected to grow by about 43.75% compared to the previous year [1] - The storage segment has achieved profitability during the reporting period [1] Strategic Investments - In 2024, the company made a strategic investment of 200 million yuan in Shanghai Lishuan using its own funds [1] - Shanghai Lishuan successfully completed the first tape-out of its self-developed GPU chip "7G100" in 2025, with a small number of graphics cards already delivered to customers [1] - The company plans to invest an additional 211 million yuan in 2025 to further deepen its layout in the high-performance GPU sector [1] Accounting and Losses - The company will account for the aforementioned investments using the equity method, with an expected investment loss of approximately 166 million yuan recognized in 2025 [1]