Core Viewpoint - Cambricon Technologies Co., Ltd. (referred to as "Cambricon") has seen its stock price exceed 1500 yuan, becoming the "new stock king" in A-shares, with a significant increase in stock price compared to its peers and major indices [1][2] Group 1: Stock Performance - As of August 28, 2025, Cambricon's closing price reached 1587.91 yuan per share, reflecting a 133.86% increase from the closing price on July 28, 2025 [1][2] - The company's rolling price-to-earnings (P/E) ratio is 5117.75 times, and the price-to-book (P/B) ratio is 113.98 times, both significantly higher than the industry averages of 88.97 times and 5.95 times, respectively [2] Group 2: Revenue Forecast and Product Development - Cambricon projects its total revenue for 2025 to be between 5 billion yuan and 7 billion yuan, with no new product releases planned [1] Group 3: Supply Chain Risks - The company operates on a fabless model, relying on various suppliers, which poses risks to supply chain stability, especially given that some subsidiaries are on the "entity list," potentially impacting operational performance [1]

Core Viewpoint - On August 28, 2025, Cambrian-U's stock price surged by 15.73%, closing at 1587.91 CNY per share, making it the highest-priced stock in A-shares, surpassing Kweichow Moutai for the first time in history [1] Group 1: Stock Performance - Cambrian's stock price increased by 133.86% from July 28, 2025, to August 28, 2025, significantly outperforming most peers and major indices such as the Sci-Tech Innovation Index and the Shanghai Composite Index [2][7] - The closing price of 1587.91 CNY per share on August 28, 2025, corresponds to a rolling price-to-earnings (P/E) ratio of 5117.75 and a price-to-book (P/B) ratio of 113.98, both of which are substantially higher than the industry averages of 88.97 for P/E and 5.95 for P/B [9] Group 2: Company Operations and Forecast - The company forecasts an annual revenue of between 500 million CNY and 700 million CNY for 2025, based on management's preliminary estimates [4] - There are no new product releases planned, and recent information circulating about new products is deemed misleading [5] Group 3: Supply Chain and Risks - The company operates on a Fabless model, relying on various suppliers, including IP licensors and wafer manufacturers. The inclusion of the company and some subsidiaries on the "entity list" poses risks to supply chain stability, potentially impacting operational performance [6]

天融信今日上涨4.93%，全天换手率38.42%，成交额56.71亿元，振幅14.94%。龙虎榜数据显示，深股通 净卖出2123.17万元，营业部席位合计净卖出1.18亿元。 深交所公开信息显示，当日该股因日换手率达38.42%上榜，深股通净卖出2123.17万元。 证券时报·数据宝统计显示，上榜的前五大买卖营业部合计成交12.32亿元，其中，买入成交额为5.46亿 元，卖出成交额为6.86亿元，合计净卖出1.40亿元。 融资融券数据显示，该股最新（8月27日）两融余额为9.64亿元，其中，融资余额为9.60亿元，融券余额 为448.78万元。近5日融资余额合计增加3.18亿元，增幅为49.45%，融券余额合计增加236.68万元，增幅 111.59%。 机构评级来看，近5日共有4家机构评级买入。预计目标价最高的是国泰海通证券，8月26日国泰海通证 券发布的研报给予公司目标价位13.09元。 天融信8月28日交易公开信息 | 买/ | 会员营业部名称 | 买入金额（万 | 卖出金额（万 | | --- | --- | --- | --- | | 卖 | | 元） | 元） | | 买一 | 中信证券股份有限公 ...

8月28日晚间，寒武纪发布公告称，公司关注到近期市场上存在部分对公司经营情况的预测，结合实际 情况，公司预计2025年全年实现营业收入50亿元至70亿元。 来源：公司公告 寒武纪表示，公司2025年8月28日收盘价相较于2025年7月28日收盘价上涨133.86%，公司股价涨幅超过 大部分同行业公司股价涨幅且显著高于科创综指、科创50、上证综指等相关指数涨幅，股票价格存在脱 离当前基本面的风险，投资者参与交易可能面临较大风险。 公司结合实际情况，预计2025年全年实现营业收入50亿元至70亿元。 寒武纪表示未有新产品发布计划，近期网上传播的关于公司新产品情况的信息，均为误导市场的不实信 息。 针对供应链情况，公司表示，寒武纪采用Fabless模式经营，供应商包括IP授权厂商、服务器厂商、晶圆 制造厂和封装测试厂等。由于集成电路整个行业链是专业化分工且技术门槛较高，加之公司及部分子公 司已被列入"实体清单"，将对公司供应链的稳定造成一定风险，可能对公司经营业绩产生不利影响。 数据显示，寒武纪最新滚动市盈率为5117.75倍，市净率为113.98倍，公司所处的软件和信息技术服务业 最新滚动市盈率为88.97倍，市 ...

Core Viewpoint - Company expects to achieve annual revenue of 5 billion to 7 billion yuan in 2025, amid market speculation about its operational performance [1][5]. Group 1: Financial Performance - In the first half of 2025, the company reported revenue of 2.881 billion yuan, a year-on-year increase of 4347.82% [6]. - The company achieved a net profit attributable to shareholders of 1.038 billion yuan, marking a turnaround from losses [6]. - The net cash flow from operating activities was 911 million yuan, compared to a negative figure in the same period last year [6]. Group 2: Stock Performance - As of August 28, 2025, the company's stock price increased by 133.86% compared to July 28, 2025, outperforming most peers and major indices [5]. - The stock price reached a historical high of 1587.91 yuan per share, surpassing that of Guizhou Moutai [6]. Group 3: Valuation Metrics - The company's latest rolling price-to-earnings (P/E) ratio is 5117.75, and the price-to-book (P/B) ratio is 113.98, significantly higher than the industry averages of 88.97 for P/E and 5.95 for P/B [5]. Group 4: Supply Chain and Product Development - The company operates under a Fabless model, relying on various suppliers, including IP licensing firms and wafer manufacturers [5]. - There are concerns regarding supply chain stability due to the company's inclusion on the "entity list," which may adversely affect operational performance [5]. - The company has no plans for new product releases, and recent online information regarding new products has been labeled as misleading [5].

Core Viewpoint - The company, Cambricon, has issued a risk warning regarding its stock price, indicating that it may be detached from its current fundamentals, and investors could face significant risks [1][3]. Financial Performance - For the first half of 2025, Cambricon reported revenue of 2.881 billion yuan, a year-on-year increase of 4347.82%, and a net profit of 1.038 billion yuan, recovering from a loss of 530 million yuan in the same period last year [5]. - In Q2 2025, the company achieved revenue of 1.769 billion yuan, up 4425.01% year-on-year, and a net profit of 683 million yuan, compared to a net loss of 303 million yuan in Q2 2024 [5][6]. - The revenue growth from Q1 to Q2 2025 was 59%, and net profit increased by 92% [5]. Market Position and Valuation - As of August 28, 2025, Cambricon's stock price closed at 1587.91 yuan per share, with a market capitalization exceeding 660 billion yuan [2][4]. - The company's latest rolling price-to-earnings (P/E) ratio is 5117.75, and the price-to-book (P/B) ratio is 113.98, significantly higher than the industry averages of 88.97 for P/E and 5.95 for P/B [4]. Business Outlook - Cambricon anticipates achieving annual revenue between 5 billion and 7 billion yuan for 2025, based on current operational conditions [1][3]. - The company has no plans for new product releases, stating that recent online information regarding new products is misleading [1][3]. Supply Chain Risks - The company operates under a Fabless model and relies on various suppliers, which may pose risks to its supply chain stability due to the high specialization and technical barriers in the integrated circuit industry [4].

公告称，公司2025年8月28日收盘价相较于2025年7月28日收盘价上涨133.86%，公司股价涨幅超过大部分 同行业公司股价涨幅且显著高于科创综指、科创50、上证综指等相关指数涨幅，股票价格存在脱离当前基 本面的风险，投资者参与交易可能面临较大风险。敬请广大投资者务必充分了解二级市场交易风险，切实 提高风险意识，理性投资并注意投资风险。 每日经济新闻消息，8月28日晚，寒武纪发布股票交易风险提示公告。 一、全年经营预测 公司关注到近期市场上存在部分对公司经营情况的预测，公司结合实际情况，预计2025年全年实现营业收 入500,000万元至700,000万元。上述经营预测等前瞻性内容，系公司管理层的初步预测，不构成公司对任 何投资者的实质承诺。投资者及相关人士均应对此保持足够的风险认识，并且应当理解计划、预测与承诺 之间的差异，注意投资风险。 二、公司未有新产品发布计划 公司未有新产品发布计划，近期网上传播的关于公司新产品情况的信息，均为误导市场的不实信息。敬请 投资者理性决策，注意投资风险。 三、公司供应链稳定的风险 公司采用Fabless模式经营，供应商包括IP授权厂商、服务器厂商、晶圆制造厂和封装测试 ...

AI大牛股，提示风险！ 截至2025年8月28日，公司收盘价为1587.91元/股。根据中证指数有限公司发布的数据，公司最新滚动 市盈率为5117.75倍，市净率为113.98倍，公司所处的软件和信息技术服务业最新滚动市盈率为88.97 倍，市净率为5.95倍，公司滚动市盈率、市净率显著高于行业水平。 经公司核实，未发现其他可能对股价产生较大影响的重大事件和敏感信息，公司董事、监事、高级管理 人员、控股股东及其一致行动人不存在买卖公司股票的行为。 8月28日晚间，寒武纪公告称，公司股票价格存在脱离当前基本面的风险，投资者参与交易可能面临较 大风险。 寒武纪表示，公司关注到近期市场上存在部分对公司经营情况的预测，公司结合实际情况，预计2025年 全年实现营业收入50亿元至70亿元。此外，公司未有新产品发布计划，近期网上传播的关于公司新产品 情况的信息，均为误导市场的不实信息。 二级市场上，寒武纪今日大涨近16%，股价再创历史新高，总市值突破6600亿元。 寒武纪提示风险 寒武纪8月28日晚间在上交所发布股票交易风险提示公告称，公司2025年8月28日收盘价相较于2025年7 月28日收盘价上涨133.86%，公 ...

AI大牛股，提示风险！ 8月28日晚间，寒武纪公告称，公司股票价格存在脱离当前基本面的风险，投资者参与交易可能面临较大风险。 寒武纪表示，公司关注到近期市场上存在部分对公司经营情况的预测，公司结合实际情况，预计2025年全年实现营业收 入50亿元至70亿元。 此外，公司未有新产品发布计划，近期网上传播的关于公司新产品情况的信息，均为误导市场的不 实信息。 二级市场上，寒武纪今日大涨近16%，股价再创历史新高，总市值突破6600亿元。 寒武纪提示风险 寒武纪8月28日晚间在上交所发布股票交易风险提示公告称，公司2025年8月28日收盘价相较于2025年7月28日收盘价上涨 133.86%，公司股价涨幅超过大部分同行业公司股价涨幅且显著高于科创综指、科创50、上证综指等相关指数涨幅，股票 价格存在脱离当前基本面的风险，投资者参与交易可能面临较大风险。敬请广大投资者务必充分了解二级市场交易风 险，切实提高风险意识，理性投资并注意投资风险。 寒武纪表示，公司关注到近期市场上存在部分对公司经营情况的预测，公司结合实际情况，预计2025年全年实现营业收 入50亿元至70亿元。上述经营预测等前瞻性内容，系公司管理层的初步预 ...

Core Viewpoint - Cambricon has issued a risk warning regarding its stock trading, revealing several concerns that have alarmed investors, including an extraordinary stock price surge and a significant disconnection between its fundamentals and market valuation [1][2]. Group 1: Stock Performance and Valuation - Cambricon's stock price skyrocketed by 133.86% from approximately 679 yuan to 1587.91 yuan between July 28 and August 28, 2025, significantly outperforming most peers and major market indices [2]. - The company's rolling price-to-earnings (P/E) ratio reached an astonishing 5117.75 times, far exceeding the industry average of 88.97 times, indicating a severe valuation discrepancy [2]. - The price-to-book (P/B) ratio for Cambricon stood at 113.98 times, again well above the industry average of 5.95 times, reflecting excessive market speculation on AI chip concepts [2]. Group 2: Revenue Projections and Product Plans - Management forecasts that the company's revenue for 2025 will be between 5 billion and 7 billion yuan, but emphasizes that this is a preliminary estimate and does not constitute a firm commitment to investors [2]. - The company has explicitly stated that there are currently no plans for new product releases, and recent rumors about new products have been clarified as false, which may negatively impact market expectations [3]. Group 3: Risks and Market Sentiment - The extreme valuation levels pose a significant risk of correction, as the company's fundamentals are severely disconnected from its stock performance [1]. - Ongoing U.S. sanctions and the potential for rational market corrections regarding AI hype could further affect the stability of Cambricon's business [1].