Core Viewpoint - The company is experiencing growth in its silicon wafer and epitaxial wafer business, but is facing increased losses in net profit due to various factors, including depreciation costs and inventory write-downs [4][5]. Group 1: Financial Performance - The company expects to achieve a revenue of 1.666 billion yuan in the first half of 2025, representing a year-on-year growth of 14.19% [4]. - The forecasted net profit attributable to shareholders is expected to be -121 million yuan, indicating an increase in losses of approximately 54 million yuan compared to the same period last year [4]. - The company anticipates a non-recurring net profit of -120 million yuan, with a year-on-year increase in losses of about 78 million yuan [4]. Group 2: Business Operations - The company's heavily doped epitaxial wafers have strong competitiveness, contributing to revenue growth due to high demand [5]. - The sales volume of 6-inch semiconductor wafers reached 9.2786 million pieces in the first half of 2025, a year-on-year increase of 38.72% and a quarter-on-quarter increase of 9.95% [5]. - The sales volume of 12-inch wafers was 811,500 pieces, equivalent to 3.2459 million 6-inch wafers, showing a year-on-year growth of 99.14% and a quarter-on-quarter growth of 16.68% [5]. - The sales volume of semiconductor power devices was 942,000 pieces, reflecting a year-on-year increase of 4.48% and a quarter-on-quarter increase of 2.12% [5]. Group 3: Future Growth Potential - The company’s subsidiary has developed a two-dimensional addressable VCSEL technology, which is the first of its kind in mainland China, with strong order fulfillment and significant growth in shipment volume [6]. - The VCSEL products are expected to drive future growth, with applications in automotive intelligent driving and robotics [6].

Core Viewpoint - Lian Micro (605358.SH) has announced that it is the first manufacturer in the industry and in mainland China to mass-produce two-dimensional addressable VCSEL chips for laser radar applications, indicating a significant advancement in the smart driving and robotics market [1] Group 1: Company Overview - Lian Micro has developed a two-dimensional addressable VCSEL technology, which is currently the first of its kind in the industry [1] - The company's products are applied in various end-use scenarios, including automotive smart driving, human-shaped robots, and vacuum robots [1] Group 2: Market Context - The market for VCSEL products is experiencing explosive growth, marking a pivotal year for applications in laser radar technology [1] - The company reports a full order book and a significant increase in shipment volumes for its VCSEL products [1]