资料显示，寒武纪成立于2016年，专注于人工智能芯片产品的研发与技术创新，致力于打造人工智能领域的核心处理器芯片。 8月21日，DeepSeek在其官宣发布DeepSeek-V3.1的文章中提到，DeepSeek-V3.1使用了UE8M0 FP8 Scale的参数精度；另外，V3.1对分词器及Chat Template进行了较大调整，与DeepSeek-V3存在明显差异；DeepSeek官微在置顶留言里表示，UE8M0 FP8是针对即将发布的下一代国产芯片设计。南方 基金认为，此举印证国产芯片设计在自主可控和国产替代的征途上再次迈出强有力一步。 此外，上周OpenAI CEO表示希望在未来投入数万亿美元用于开发和运行AI服务所需的基础设施建设。南方基金表示，此次OpenAI扩容再度印证大模型商用 进程加速将直接驱动超大规模训练集群建设需求，而未来国内厂商势必将占据一席之地。 今年以来，以DeepSeek为代表的原生创新企业的成功全面验证了中国科技实力的崛起以及中国教育体系的成功。诺安基金表示，预计未来像这样有潜力"改 变世界"的硬核创新，将会如雨后春笋般在中国出现，"这将改变全球市场对于中国科技资产的预期，中 ...

Core Viewpoint - The company reported significant growth in revenue and a turnaround in net profit for the first half of 2025, driven by the expansion of its market presence and support for AI applications [1][2][3]. Financial Performance - The company achieved a revenue of 28.81 billion yuan for the first half of 2025, representing a year-on-year increase of 4347.82% [1][2]. - The net profit reached 10.38 billion yuan, marking a significant turnaround from a loss in the previous year [1][3]. - Total assets increased by 25.34% to 84.20 billion yuan, while net assets rose by 24.58% to 67.55 billion yuan [2][3]. Research and Development - The company maintained a high level of R&D investment, which grew by 2.01% year-on-year, accounting for 15.85% of revenue [3]. - Despite the increase in R&D spending, the proportion of R&D to revenue decreased by 675.07 percentage points due to the much higher growth rate of revenue [3]. Shareholder Information - As of June 30, 2025, the top ten circulating shareholders held a total of 272 million shares, accounting for 64.9% of circulating shares, with an increase of 2.26 million shares from the previous period [4]. - Notable shareholders include Chen Tianshi, holding 28.57% of shares, and other institutional investors showing varying levels of shareholding changes [4]. Market Performance - The company's stock price has seen exceptional performance this year, doubling in value and surpassing 1300 yuan, with a total market capitalization exceeding 500 billion yuan [4].

新京报贝壳财经讯 8月26日，寒武纪公告，2025年上半年实现营业收入28.81亿元，同比增长 4347.82%；实现归母净利润10.38亿元，同比扭亏。本期公司持续拓展市场，积极助力人工智能应用落 地，报告期内收入较上年同期大幅增长。 ...

| | | | 前 10 名股东持股情况 | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 股东名称 | 股东性质 | 持股 比例 | | 持有有 | 包含转融 | | 质押、标记或 冻结的股份费 | | | | | | 持股 | 限售条 | 通借出股 | | | | | | | (%) | 数量 | 件的股 | 份的限售 | | 量 | | | | | | | 份数量 | 股份数量 | | | | | 陈天石 | 境内自然人 | 28. 57 | 119, 530, 650 | | | - 17 | 无 | | | 北京中科算源资 | 国有法人 | 15. 70 | 65, 669, 721 | - | | - | 无 | 17 | | 产管理有限公司 | | | | | | | | | | 北京艾溪科技中 | 其他 | 7.33 | 30, 645, 870 | 15 | | - | 无 | | | 心(有限合伙) | | | | | | | | | | 香港中央结算有 | 境外法人 | 3. 75 | 15, 70 ...

Core Insights - Company achieved a revenue of 646 million yuan in the first half of 2025, representing a year-on-year growth of 123.1% [1] - The company significantly reduced its losses by 104 million yuan compared to the same period last year, with a gross margin increase to 28.5%, up 12.8 percentage points year-on-year [1] - Operating cash flow turned positive for the first time, reaching 39.53 million yuan, showcasing the company's unique ability to generate cash flow amidst industry losses [1] Financial Performance - Total assets as of June 30 amounted to 5.577 billion yuan, a year-on-year increase of 18% [1] - The debt-to-asset ratio stood at 30.7%, indicating a low overall debt level [1] - Revenue contributions from different business segments included 269 million yuan from enterprise-level, 298 million yuan from consumer-level, and 75.74 million yuan from industry-level, accounting for 41.83%, 46.38%, and 11.79% respectively [1] R&D and Technological Advancements - R&D expenditure reached 202 million yuan in the first half of the year, marking a 12% increase, focusing on high-performance and cost-effective inference chips [3] - The company is advancing the development of series chips like DeepVerse and DeepXbot, targeting applications in large models and humanoid robots [3] - The DeepEdge10 chip platform has been fully adapted to support the entire DeepSeek model series, enhancing computational efficiency and memory usage [2] Market Opportunities and Strategic Positioning - The AI inference chip market in China is projected to grow from 11.3 billion yuan in 2020 to 162.6 billion yuan by 2024, with a compound annual growth rate (CAGR) of 94.9% [3] - The NPU-driven segment is expected to increase from 500 million yuan in 2020 to 26 billion yuan by 2024, with a CAGR of 175.6% [3] - The company aims to leverage industry policies and market opportunities to deepen its strategic layout of "AI inference chips + application ecosystem" [4]

尽管英伟达的预期市盈率"略高"，但Clinton认为，与其他科技巨头相比，其估值仍然合理。他指出，不 包括特斯拉 (TSLA.US)的六大科技巨头的预期市盈率约为28.5倍，而英伟达的预期市盈率为30多倍，但 其"扩张幅度没有其他公司那么大"。 Clinton警告称，尽管人工智能的长期发展趋势呈上升态势，但市场会经历"高于平均水平然后低于平均 水平"的时期。 智通财经APP获悉，Intelligent Alpha首席执行官兼Deepwater Asset Management执行合伙人Doug Clinton 表示，人工智能(AI)牛市仍将"持续两到四年"。 Clinton在接受采访时回应了关于人工智能市场是否存在泡沫的担忧，并指出更重要的问题在于本轮牛市 是否已经终结——他坚信目前还没有结束。 人工智能芯片巨头英伟达(NVDA.US)将在周三盘后公布财报。Clinton的模型预计，英伟达营收和每股 收益都将超出市场预期。 Clinton表示："随着人们对人工智能的态度变得稍微谨慎起来，我们或许可以松一口气。" Clinton指出，当前的市场"可能略显过热"，尽管"在过去的几周里有所降温"，这让他"在一些真正 ...

格隆汇8月26日｜寒武纪跌逾3%，成交额超100亿元。 (责任编辑：宋政 HN002) 【免责声明】本文仅代表作者本人观点，与和讯网无关。和讯网站对文中陈述、观点判断保持中立，不对所包含内容 的准确性、可靠性或完整性提供任何明示或暗示的保证。请读者仅作参考，并请自行承担全部责任。邮箱： news_center@staff.hexun.com ...

寒武纪-U成交额达100亿元，现跌3.32%。 ...

"随着杰克逊霍尔会议落幕，下一个重要催化剂就是英伟达的财报。"DataTrek Research联合创始人Nicholas Colas指出。由于英伟达在标普500指数中的权重接近8%，其走势对大盘影响巨大，"英伟达的表现可能会 压过甚至放大鲍威尔讲话后的市场反应。" 目前英伟达市值已超过4万亿美元，其股价今年以来已累计上涨近34%，远超标普500指数9.5%的涨幅。技 术面上，分析师关注的关键点位包括50日均线约167美元和短期阻力位184美元。 美国股市本周将迎来"重量级考验"，人工智能芯片巨头英伟达(NVDA.US)将在周三盘后公布财报，市场普 遍认为其业绩与前景展望将成为决定大盘下一步走向的关键因素。 在美联储主席鲍威尔上周五于杰克逊霍尔年会上暗示9月可能降息后，美股一度强劲反弹，标普500指数上 周五收涨1.5%，并录得周涨幅0.3%。然而，周一市场未能延续涨势，标普500指数收跌0.43%，道琼斯工业 指数下挫0.77%，纳斯达克综合指数回落0.22%。 与此同时，作为"七巨头"之一的英伟达也是最后一个公布季度业绩的科技巨头。Ameriprise Financial首席市 场策略师Anthony S ...

Core Viewpoint - Kede Education's stock price has experienced significant fluctuations, with a cumulative increase of over 30% in two trading days, primarily due to its stake in Zhonghao Xinying and its strategic focus on AI+ education [2][4]. Group 1: Investment and Business Strategy - Kede Education holds a 5.53% stake in Zhonghao Xinying, which is not a controlling interest and does not significantly impact its profits [2]. - The company invested a total of 130 million yuan in Zhonghao Xinying to acquire an 8.38% stake, aiming to enhance its presence in the AI+ education sector [3]. - Kede Education has developed an AI learning software called Kede AI Learning, targeting various professional certifications and currently has nearly 30,000 users [6]. Group 2: Financial Performance and Impact - Kede Education's investment in Zhonghao Xinying contributed 592.99 million yuan to its profits in 2024, but a subsequent loss of 456.66 million yuan in 2025 negatively affected its net profit [6]. - The company reported a revenue of 183 million yuan in the first quarter, reflecting a year-on-year decline of 2.27%, attributed to seasonal fluctuations in its ink business [9]. Group 3: Corporate Governance and Control - Kede Education had previously planned to undergo a change in control by transferring shares to a state-owned entity, but this plan was ultimately abandoned [7][8]. - The company remains under the control of its current major shareholder, Wu Xianliang, following the termination of the proposed share transfer [8].