Core Viewpoint - InnoCare (02577) has partnered with a leading robotics company to launch the world's first gallium nitride (GaN) robot, which is expected to significantly increase the demand for GaN chips in humanoid robots [1] Group 1: Company Performance - InnoCare's stock rose over 5% in early trading, reaching 100.5 HKD with a trading volume of 175 million HKD [1] - The company reported a sales revenue of 553 million CNY for the first half of the year, representing a year-on-year growth of 43.4% [1] - The gross margin improved to 6.8%, a significant increase of 28.4 percentage points compared to the same period in 2024, marking the first time the company recorded a positive gross margin [1] - The net loss narrowed to approximately 429 million CNY, a decrease of 12.16% year-on-year [1] Group 2: Product Development and Market Demand - The company anticipates that the shipment of GaN chips for robots will exceed 10,000 units this year, with each robot requiring about 300 GaN chips [1] - As technology continues to evolve, the demand for GaN chips in humanoid robots is expected to rise significantly, with the usage per robot projected to increase to 1,000 chips to enable more complex movements in key areas such as fingers and waist [1] - Sales targeting AI and data centers grew by 180% year-on-year, with the 100V GaN-based 48V-12V applications entering mass production [1]

Core Viewpoint - InnoScience reported significant growth in sales and gross margin for the first half of 2025, marking a turnaround in financial performance compared to the previous year [2][3]. Financial Performance - The company achieved sales revenue of RMB 553.54 million, representing a year-on-year increase of 43.4% [2][3]. - Gross margin improved to 6.8%, a substantial increase of 28.4 percentage points from -21.6% in the same period of 2024 [2][3]. - The net loss for the period was RMB 428.67 million, a decrease from RMB 488.00 million in the previous year [3]. Product Development and Market Position - InnoScience is advancing the adoption of Gallium Nitride (GaN) technology in AI and data centers, with sales in this segment growing by 180% year-on-year [4]. - The company has entered mass production of 100V GaN applications for 48V-12V systems and is now a supplier for NVIDIA's 800V high-voltage direct current solutions [4]. - In the automotive sector, the company reported a 128% year-on-year increase in the delivery of automotive-grade chips, collaborating with leading automotive electronics firms [4]. Strategic Partnerships - InnoScience has established partnerships with several prominent companies, including STMicroelectronics and Midea, to expand GaN applications in various sectors [5]. - The collaboration with Midea focuses on the application of GaN technology in home appliances, with successful mass production of 700V high-voltage GaN products in range hoods [5]. - A joint laboratory has been set up with United Automotive Electronics to develop smaller and lighter power systems for electric vehicles [5].