山石网科：2025年净利润亏损1.92亿元

Core Viewpoint - The company reported a decline in revenue and an increased net loss for the fiscal year 2025, but achieved significant breakthroughs in core technology development, which may support future recovery [1] Financial Performance - The company achieved an operating revenue of 911 million yuan in 2025, representing a year-on-year decrease of 8.55% [1] - The net loss for the year was 192 million yuan, compared to a loss of 137 million yuan in the same period last year [1] Technological Advancements - The company made important breakthroughs in core technology research and development, successfully developing ASIC security-specific chips [1] - New products related to these advancements have begun to win bids or be shortlisted in various projects across multiple industries starting in early 2026, laying a solid technical and market foundation for future performance recovery [1]