东吴证券给予芯原股份“买入”评级：订单兑现收入高增，继续看好AIASIC产业趋势

Group 1 - Dongwu Securities issued a report on January 26, giving Chipone Technology (688521.SH) a "Buy" rating due to expected stable revenue in 2025 and a significant reduction in R&D expenditure ratio [1] - The company is experiencing accelerated mass production and steady growth in chip design [1] - The number of new orders signed each quarter has reached record highs, with backlogged orders remaining high for nine consecutive quarters [1]