BPSemi(SH:688368) China Post Securities·2025-08-13 06:39Investment Rating - The investment rating for the company is "Buy" and is maintained [1] Core Views - The company reported a revenue of 731 million yuan for the first half of 2025, a slight decrease of 0.44% year-on-year, while the net profit attributable to shareholders increased by 151.67% to approximately 16 million yuan [4] - The gross margin improved to 39.59%, up by 4.16 percentage points year-on-year, driven by cost reduction and efficiency improvements [5] - The revenue from motor control driver chips increased by 24.30%, with its revenue share rising by 5.23 percentage points year-on-year [5] - The high-performance computing power chip business saw a significant revenue increase of 419.81%, with shipment volume growing by 121.49% [6] - The company expects revenues of 1.62 billion, 1.92 billion, and 2.28 billion yuan for 2025, 2026, and 2027 respectively, with net profits projected at 40 million, 150 million, and 220 million yuan [7] Company Overview - The latest closing price of the company's stock is 91.87 yuan, with a total market capitalization of 8.1 billion yuan [3] - The company has a total share capital of 88 million shares, with a debt-to-asset ratio of 38.7% [3] - The company’s largest shareholder is Hu Liqiang [3]