Shang Hai Zheng Quan Bao·2026-02-13 17:37Financial Performance Summary - The company achieved an operating revenue of approximately 3.982 billion RMB, representing a year-on-year increase of about 10.92% [3] - The net profit attributable to the parent company was approximately 232 million RMB, a decrease of about 59.42% compared to the previous year [3] - The net profit attributable to the parent company after deducting non-recurring gains and losses was approximately 143 million RMB, down about 69.29% year-on-year [3] Financial Position - As of December 31, 2025, the company's total assets were approximately 9.197 billion RMB, an increase of about 1.72% from the beginning of the year [4] - The equity attributable to the parent company was approximately 6.119 billion RMB, up about 3.81% from the beginning of the year [4] - The net asset per share attributable to the parent company was approximately 7.43 RMB, an increase of about 3.48% from the beginning of the year [4] Factors Affecting Performance - The semiconductor industry showed significant structural differentiation in demand, with FPGA products performing well in various applications, contributing to revenue growth [5] - Revenue from security and identification chips saw slight growth, while non-volatile memory market revenue declined due to intense competition [5] - MCU chips experienced rapid growth in shipments due to good market positioning and stable product quality [5] Expense Impact on Profit - R&D expenses increased to approximately 1.223 billion RMB, up about 192 million RMB year-on-year, driven by efforts to enhance product competitiveness and supply chain resilience [6][7] - Asset impairment losses rose to approximately 437 million RMB, an increase of about 268 million RMB year-on-year, due to changes in demand structure and strategic inventory buildup [7] - Other income decreased to approximately 143 million RMB, down about 91 million RMB year-on-year, due to reduced VAT rebates and government subsidies [7]