“1+6+X”战略加持！沐曦股份2025年营收翻倍，亏损收窄，发力科学智能赛道

Core Viewpoint - Muxi Co., Ltd., known as the "second domestic GPU stock," has reported a significant increase in revenue and a notable reduction in losses for the year 2025, indicating a positive operational trend [1][3]. Financial Performance - For the fiscal year 2025, Muxi Co., Ltd. expects to achieve revenue between 1.6 billion to 1.7 billion yuan, representing a growth of 115.32% to 128.78% compared to the previous year's revenue of 743 million yuan, which translates to an increase of 857 million to 957 million yuan [3]. - The company is still in a loss position but has significantly narrowed its losses, with an expected net loss attributable to shareholders ranging from 650 million to 798 million yuan, a reduction of 43.36% to 53.86% compared to the previous year's loss of 1.409 billion yuan [5]. - The adjusted net loss, excluding non-recurring items, is projected to be between 700 million to 835 million yuan, down from a loss of 1.044 billion yuan in the previous year, reflecting a decrease of 20.01% to 32.94% [5]. Strategic Development - Muxi Co., Ltd. attributes its performance improvement to its "1+6+X" development strategy, which emphasizes market expansion and leverages its self-developed GPU product system and comprehensive software ecosystem, gaining widespread recognition and continuous procurement from downstream customers [5]. - The company has also seen a reduction in share-based payment expenses compared to the previous year, positively impacting its profitability [5]. Product Launch - On the same day as the earnings forecast, Muxi Co., Ltd. launched the new Xisuo X series GPU product line, which focuses on deep optimization for scientific intelligence scenarios, built on the company's proprietary GPU IP architecture [6]. - The Xisuo X series is the fourth product line introduced by the company, completing its product matrix across four core computational tracks: AI inference, AI training, graphics rendering, and scientific intelligence [7]. - The first product in this series, the Xisuo X206, features full-precision mixed computing capabilities and is designed to support both traditional high-performance computing tasks and AI-driven interdisciplinary research needs [7].