Dosilicon(SH:688110) Ju Chao Zi Xun·2026-01-26 02:58Core Viewpoint - Dongxin Co., Ltd. forecasts a revenue of approximately 921 million yuan for 2025, representing a year-on-year increase of 43.75%, while expecting a net loss attributable to shareholders of between 214 million yuan and 174 million yuan, indicating a loss increase of 4.1% to 28.03% compared to the previous year [2] Group 1: Performance Forecast - The company anticipates a revenue of about 921 million yuan for 2025, with a year-on-year growth rate of 43.75% [2] - The net profit attributable to shareholders is expected to be between -214 million yuan and -174 million yuan, reflecting a loss increase of 4.1% to 28.03% compared to the previous year [2] - The net profit after deducting non-recurring gains and losses is projected to be between -241 million yuan and -201 million yuan, with a loss increase of 0.15% to 20.09% [2] Group 2: Market Drivers - The small-capacity storage chip market is benefiting from an AI-driven industry upcycle, with an ongoing optimization of supply-demand structure and steady price increases [2] - The advancement of 5G base station construction, smart city initiatives driving security equipment upgrades, innovations in smart wearable devices, and the electrification and intelligence wave in the automotive sector are collectively boosting demand in downstream fields [2] Group 3: Business Development - The company is deepening its technological layout in the "storage, computing, and connectivity" integration field while maintaining high levels of R&D investment [3] - Dongxin Co., Ltd. is consolidating its technological leadership in the SLC NAND Flash industry, with 1xnm flash products already in mass production [3] - The company is enhancing the reliability of storage products and advancing the R&D and industrialization of automotive-grade storage products, with Nand Flash and Nor Flash automotive series products achieving mass production in multiple vehicle models [3] Group 4: Investment Strategy - In 2024, the company made a strategic investment of 200 million yuan in Lishan Technology (Shanghai) Co., Ltd., with an additional investment of approximately 211 million yuan planned for 2025, focusing on the high-performance GPU sector [4] - Lishan Technology specializes in the R&D and design of multi-level graphics rendering GPU chips, with its first self-developed GPU chip "7G100" successfully completing initial wafer production in 2025 [4] - The company will recognize an investment loss of approximately 166 million yuan for 2025, which is a significant factor contributing to the overall increase in losses [4]