5倍股股东七折甩卖股份，37家机构接盘

Core Viewpoint - The article discusses the recent developments regarding the share transfer plan of Chip Origin Co., Ltd. (芯原股份), highlighting a significant discount in the share price during the transfer and the company's financial performance, which includes a substantial loss in the first half of 2025 despite revenue growth. Group 1: Share Transfer Details - Chip Origin Co., Ltd. announced a share transfer plan where 37 institutions subscribed to 5% of the shares at a price of 105.21 CNY per share, approximately 66.63% of the closing price on August 25, which was 157.90 CNY [3][7]. - The transfer price was set below the average trading price of the stock in the 20 trading days prior to the transfer invitation date, which was 117.92 CNY, establishing a lower limit of 82.54 CNY for the transfer price [7]. Group 2: Financial Performance - In the first half of 2025, Chip Origin reported a revenue of 974 million CNY, a year-on-year increase of 4.49%, but incurred a net loss of 320 million CNY [10]. - The company’s net loss for the second quarter was reported at 99.51 million CNY, a significant reduction of 54.84% compared to the previous quarter [10][12]. - Despite the losses, the company’s chairman emphasized the importance of business scale and growth trends, suggesting that achieving a certain scale would lead to profitability [12]. Group 3: Market Context and Future Outlook - The semiconductor sector, particularly ASIC chips, has seen a surge in interest, with Chip Origin being recognized as a leading player in this space [13]. - Analysts predict that ASIC chips will become a crucial part of the AI industry chain by 2025, with potential for rapid growth as companies like Meta and Microsoft deploy their own ASIC solutions [13][14]. - The current valuation of Chip Origin is attributed to its status as a top ASIC company in China, with significant advantages in technology, customer resources, and product implementation [14].