Ju Chao Zi Xun·2026-02-13 09:10Core Viewpoint - Fudan Microelectronics reported steady revenue growth in 2025 despite a structural differentiation in the semiconductor industry, but net profit experienced a significant decline due to increased R&D expenses and asset impairment losses [2][3]. Financial Performance - The company achieved an operating revenue of approximately 3.982 billion yuan, a year-on-year increase of 10.92% [3]. - Net profit attributable to shareholders was about 232 million yuan, down 59.42% year-on-year; net profit after deducting non-recurring gains and losses was approximately 143 million yuan, a decrease of 69.29% [3]. - Total assets at the end of the reporting period were approximately 9.197 billion yuan, an increase of 1.72% from the beginning of the year; equity attributable to shareholders was about 6.119 billion yuan, up 3.81% [3]. - The company's earnings per share increased to approximately 7.43 yuan, a growth of 3.48% from the beginning of the year [3]. Business Segments - The core business showed strong performance in high-demand segments, with FPGA products achieving good applications in various fields, contributing to steady revenue growth [3]. - MCU chips saw rapid growth in shipments in the automotive and white goods markets, becoming a new growth highlight [3]. - Revenue from security and identification chips experienced slight growth, driven by RFID and sensor chips [3]. Challenges - Revenue from non-volatile memory products declined due to intense market competition, affecting overall business growth balance [4]. - R&D expenses significantly increased to 1.223 billion yuan, up 192 million yuan year-on-year, as the company focused on enhancing product competitiveness and supply chain resilience [4]. - Asset impairment losses rose to approximately 437 million yuan, an increase of 268 million yuan year-on-year, due to changes in demand structure and unanticipated economic benefits from certain capitalized R&D projects [4]. - Other income decreased to about 143 million yuan, down 91 million yuan year-on-year, further impacting profit levels [5].