Core Viewpoint - The company, Aojie Technology, has chosen not to disclose the amount of its current orders due to the complexity and long delivery cycles of its customized projects, which often exceed one accounting year, leading to significant discrepancies between current order amounts and recognized revenue [1] Group 1 - The company indicates that the complexity of its customized business projects results in longer delivery times [1] - Many of the company's projects extend beyond one accounting year, contributing to the disparity between current orders and revenue recognition [1] - To avoid misleading investors, the company opts to provide guidance on annual revenue expectations instead of disclosing current order amounts [1] Group 2 - The company acknowledges that geopolitical issues, technological blockades, and inherent R&D risks may introduce uncertainty into its revenue guidance [1] - Alongside its revenue guidance, the company will also highlight investment risks associated with these uncertainties [1]

Core Viewpoint - The company reported strong financial results for FY26 Q3, with significant year-over-year growth in revenue and profits, driven by its data center business and upcoming acquisitions, particularly in photonic interconnect technology [3][16]. Financial Performance - Revenue for FY26 Q3 reached $2.075 billion, a 37% increase year-over-year and a 3% increase quarter-over-quarter; Q4 revenue is projected at $2.2 billion, a 21% year-over-year increase [3]. - GAAP gross margin was 51.6%, up 28.6 percentage points year-over-year; Non-GAAP gross margin was 59.7%, down 0.8 percentage points year-over-year but up 0.5 percentage points quarter-over-quarter [3]. - Non-GAAP operating profit was $753 million, a 67% increase year-over-year, with an operating margin of 36.3%; Q4 Non-GAAP operating profit is expected to be $794 million, a 30% year-over-year increase [3]. - Non-GAAP net profit was $655 million, a 76% increase year-over-year, with a net profit margin of 31.6%; Q4 Non-GAAP net profit is projected at $677 million, a 27% year-over-year increase [3]. Business Segments - Data center revenue was $1.52 billion, a 38% year-over-year increase and 2% quarter-over-quarter; it accounted for 73% of total revenue, primarily driven by growth in photonic interconnect business [4]. - The company's ASIC business, which includes customized XPU products, is expected to see significant revenue contributions from upcoming projects, with over 15 design wins anticipated to generate more than $2 billion in revenue by FY29 [7]. - The enterprise networking segment generated $240 million, a 57% year-over-year increase, while the communications segment saw revenue of $170 million, up 98% year-over-year [11]. Future Outlook - Q4 data center revenue is expected to grow by 20% year-over-year, driven by a rebound in custom ASIC business and continued growth in interconnect, switching, and storage [13]. - The company announced a $3.25 billion acquisition of Celestial AI, expected to enhance its photonic interconnect capabilities and contribute significantly to future revenue [13]. - For FY27, the company anticipates revenue exceeding $10 billion, with data center revenue projected to grow by 25% [13][16]. - Management expects data center revenue growth to exceed 25% in FY28, with ASIC custom business revenue potentially doubling [13][16].