Cambricon(SH:688256) 21世纪经济报道·2025-08-30 05:38Core Viewpoint - The article highlights the remarkable turnaround of Cambricon Technologies, an AI chip company that has transformed from years of losses to becoming a leading star in the A-share market, driven by its founder Chen Tianshi [1][3]. Company Overview - Cambricon Technologies was founded in 2015 by Chen Tianshi, who was inspired by his background in a family that valued knowledge and technology [4][8]. - The company focuses on the research, design, and sales of AI chips, and it initially adopted a technology licensing model [8][9]. - The company went public on the STAR Market in July 2020, with an initial share price of 64.39 CNY, which surged to 250 CNY on the first day of trading, reflecting strong market expectations for AI chips [9]. Financial Performance - For the first half of 2025, Cambricon reported a revenue of 28.81 billion CNY, a staggering year-on-year increase of 4347.82%, and a net profit of 10.38 billion CNY, marking a significant recovery from a loss of 5.3 billion CNY in the previous year [12]. - As of August 28, 2023, the company's stock price reached a record high of 1587.91 CNY, with a market capitalization of 6643 billion CNY, surpassing Kweichow Moutai [2][3]. Market Impact - The rise of Cambricon has positively influenced the entire AI chip sector, leading to a reevaluation of many related companies and creating significant wealth effects [3][12]. - The current market trend indicates a shift towards technology stocks, with many leading tech stocks outperforming traditional sectors like liquor [13][14]. Challenges and Future Outlook - Despite its success, Cambricon faces challenges such as supply chain risks due to its Fabless model and the need for international expansion to become a global player [12][13]. - The company has indicated no new product launches in the near future and projects a revenue of 5 to 7 billion CNY for the full year of 2025 [3][12].