2月27日，高性能GPU领军企业沐曦股份披露了2025年年度业绩快报。数据显示，公司在报告期内交出 了一份"营收跃升、亏损大幅收窄、资产结构显著优化"的高质量答卷，展现出强劲的发展势头和日益巩 固的市场竞争力。 业绩快报显示，2025年度，沐曦股份实现营业总收入16.44亿元，较上年同期大幅增长121.26%。公司表 示，这一显著增长主要得益于公司坚持"1+6+X"发展战略，持续加大市场开拓力度。凭借优越的产品性 能及日趋完善的软件生态，公司GPU产品及服务获得了下游客户的广泛认可与持续采购，产品出货量显 著增长，带动业务规模迈上新台阶。 资产规模的急剧扩张主要得益于报告期内公司完成的资本公积转增股本及首次公开发行股票并上市等重 大事项。这些举措为公司未来的技术研发、市场拓展和产能建设提供了雄厚的资金保障，极大增强了公 司的资本实力和抗风险能力。值得关注的是，随着总资产和净资产的增厚，公司的长期发展根基更加稳 固。尽管因股本扩张导致归属于母公司所有者的每股净资产有所摊薄，但这属于成长型公司在快速发展 阶段的正常财务表现。 业内分析认为，沐暄股份2025年的业绩表现，标志着公司已成功渡过早期的市场导入期，进入高 ...

单位：人民币万元 注：1.本报告期初数同法定披露的上年年末数。 证券代码：688802 证券简称：沐曦股份 公告编号：2026-011 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容 的真实性、准确性和完整性承担法律责任。 本公告所载2025年度主要财务数据为初步核算数据，未经会计师事务所审计，具体数据以沐曦集成电路 （上海）股份有限公司（以下简称"公司"）2025年年度报告为准，提请投资者注意投资风险。 一、2025年度主要财务数据和指标 （二）报告期有关项目增减变动幅度达30%以上的主要原因说明 2.以上财务数据及指标以合并报表数据填制，但未经审计，最终数据以公司2025年年度报告中披露数据 为准。 3.以上指标及数据如有尾差，为四舍五入所致。 二、经营业绩和财务状况情况说明 （一）报告期的经营情况、财务状况及影响经营业绩的主要因素 1、报告期的经营情况、财务状况 本报告期，公司实现营业总收入164,408.55万元，较上年同期增长121.26%；实现归属于母公司所有者 的净利润-78,145.20万元，较上年同期亏损收窄44.53%；实现归属于母公司所有者的扣 ...

沐曦股份表示，报告期内，公司坚持"1+6+X"发展战略，加大市场开拓力度，不断提升公司在高性能 GPU行业的市场地位和影响力，推动人工智能技术与千行百业深度融合。凭借优越的产品性能及完善的 软件生态，公司产品及服务获得下游客户的广泛认可与持续采购，报告期内业务规模较上年同期实现显 著增长。 北京商报讯(记者王蔓蕾)2月27日晚间，沐曦股份(688802)发布2025年业绩快报显示，公司全年实现营业 总收入16.44亿元，同比增长121.26%；对应实现归属净利润约为-7.81亿元，上年同期为-14.09亿元。 ...

Core Viewpoint - Muxi Co., known as the "Chinese version of AMD," has released its first earnings forecast since its listing in 2025, projecting significant revenue growth while still facing net losses [1][3]. Group 1: Company Performance - Muxi Co. expects to achieve an operating revenue of approximately 1.6 billion to 1.7 billion yuan for 2025, representing a year-on-year growth of 115.32% to 128.78% [1]. - The company anticipates a net loss attributable to shareholders of approximately 650 million to 798 million yuan for 2025, although this reflects a reduction in losses by 43.36% to 53.86% compared to the previous year [1]. - In the first three quarters of 2025, Muxi Co. reported a revenue increase of 453.52%, reaching 1.236 billion yuan, surpassing the total revenue of the previous three years [3]. Group 2: Market Position and Strategy - Muxi Co. focuses on the research and development of high-performance GPU chips and computing platforms, with products aimed at AI training, inference, general computing, and graphics rendering [2]. - The company has launched two major product lines: the Xisi N series GPUs for inference and the Xiyun C series GPUs for training and general computing, while the Xicai G series GPUs for graphics rendering are still in development [2]. - Muxi Co. is positioned in a rapidly growing market, with the total computing power in China expected to grow from 136.20 EFLOPs in 2020 to 617.00 EFLOPs by 2024, and projected to reach 3442.89 EFLOPs by 2029, with a compound annual growth rate of 40.0% from 2024 to 2029 [2]. Group 3: Financial Outlook - Muxi Co. has incurred significant losses due to high R&D investments, with cumulative net losses exceeding 3 billion yuan from 2022 to 2024 [3]. - The company predicts that it may reach its breakeven point as early as 2026 [4].

Core Viewpoint - The company, Muxi Integrated Circuit (Shanghai) Co., Ltd., anticipates significant revenue growth for the fiscal year 2025, despite projecting a net loss for the same period [2][3]. Revenue Forecast - The company expects to achieve an operating revenue of between 160,000.00 million and 170,000.00 million yuan for the fiscal year 2025, representing a growth of 115.32% to 128.78% compared to the previous year [2][3]. Net Profit Forecast - The net profit attributable to the parent company's owners is projected to incur a loss of between 65,000.00 million and 79,800.00 million yuan, which indicates a reduction in losses by 43.36% to 53.86% compared to the previous year [3][4]. - The net profit attributable to the parent company's owners, excluding non-recurring gains and losses, is expected to show a loss of between 70,000.00 million and 83,500.00 million yuan, with a reduction in losses of 20.01% to 32.94% compared to the previous year [3][4]. Previous Year Performance - For the fiscal year 2024, the company reported an operating revenue of 74,307.16 million yuan and a net profit attributable to the parent company's owners of -140,887.94 million yuan [4]. Strategic Focus - The company has consistently focused on breakthroughs in GPU product technology, leveraging its R&D capabilities to build a competitive GPU product system that supports various applications, including general computing and AI training [4][5]. - The company is implementing a "1+6+X" development strategy to enhance its market position in the high-performance GPU industry and promote the integration of AI technology across various sectors [5].

Core Viewpoint - Mu Xi Co., Ltd. has released its first earnings forecast since its IPO, projecting significant revenue growth while narrowing its losses for the fiscal year 2025 [1][3]. Financial Performance - The company expects to achieve revenue between 1.6 billion to 1.7 billion yuan in 2025, representing a year-on-year growth of 115.32% to 128.78% [1]. - The anticipated net loss for the parent company is projected to be between 650 million to 798 million yuan, a reduction of 43.36% to 53.86% compared to the previous year's loss of 1.409 billion yuan [1]. - The expected loss for the non-recurring net profit is estimated to be between 700 million to 835 million yuan, reflecting a year-on-year decrease of 20.01% to 32.94% [1]. Strategic Development - The company is implementing a "1+6+X" development strategy, focusing on market expansion and enhancing its position in the high-performance GPU industry [3]. - Mu Xi Co., Ltd. aims to integrate AI technology across various industries, which has led to increased recognition and sustained procurement from downstream customers [3]. Product Development - The company has introduced a full-stack GPU product line, including the Xi Si N series, Xi Yun C series, and Xi Cai G series [4]. - Upcoming products include the C600 and C700 series chips, with the C600 series expected to begin mass production in the first half of 2026 [4]. - The newly launched Xi Suo X series is designed for scientific intelligence applications, supporting various computational tasks and AI-driven research [5]. Market Position - Since its IPO, the stock price of Mu Xi Co., Ltd. has declined from a peak of 895 yuan per share to a closing price of 572.18 yuan, marking a decrease of 36.07% [6]. - The stock reached a historical low of 558.58 yuan per share on the same day [6].

Core Viewpoint - The company, Muxi Co., Ltd., anticipates significant revenue growth for 2025, driven by strong customer recognition and ongoing procurement of its products and services, despite expecting a net loss for the year [2][3]. Group 1: Financial Performance - Muxi Co., Ltd. projects a revenue of 1.6 billion to 1.7 billion yuan for 2025, representing a year-on-year increase of 115.32% to 128.78% [2] - The company expects a net loss attributable to shareholders of 650 million to 798 million yuan for 2025, which is a reduction in losses by 43.36% to 53.86% compared to the previous year [2] - The reduction in share-based payment expenses compared to the previous year positively impacts the company's profits, contributing to a decrease in loss margins [2] Group 2: Strategic Development - Muxi Co., Ltd. adheres to its "1+6+X" development strategy, focusing on market expansion and enhancing its position in the high-performance GPU industry [2] - The company aims to integrate artificial intelligence technology with various industries, leveraging superior product performance and a comprehensive software ecosystem [2] - Muxi Co., Ltd. has launched the new Xisuo X series GPU brand and product line, optimized for scientific intelligence scenarios, enhancing its competitive advantage in multiple computing scenarios [3] Group 3: Market Position - As of January 27, Muxi Co., Ltd.'s stock price was 572.18 yuan per share, with a total market capitalization of 228.9 billion yuan [4]

Core Viewpoint - Muxi Co., Ltd. anticipates significant revenue growth for the fiscal year 2025, projecting revenues between 1.6 billion to 1.7 billion yuan, representing an increase of 115.32% to 128.78% compared to the previous year [2][6]. Group 1: Financial Performance - The company expects to achieve revenues of 1.6 billion to 1.7 billion yuan in 2025, an increase of 857 million to 957 million yuan from the previous year [6]. - The projected net loss for 2025 is estimated to be between 650 million to 798 million yuan, which reflects a reduction in losses by 611 million to 759 million yuan compared to the previous year, indicating a narrowing of losses by 43.36% to 53.86% [6]. Group 2: Product Development - Muxi Co., Ltd. launched a new GPU brand and product line, the Xisuo X series, designed to optimize scientific intelligence scenarios and enhance computational capabilities in cutting-edge research fields [5][8]. - The Xisuo X series completes the company's product matrix across four major computational power tracks: AI inference, AI training, graphics rendering, and scientific intelligence [6][8]. Group 3: Strategic Focus - The company adheres to a "1+6+X" development strategy, emphasizing market expansion and enhancing its market position in the high-performance GPU industry [6]. - Muxi Co., Ltd. aims to integrate artificial intelligence technology deeply across various industries, leveraging its strong product performance and comprehensive software ecosystem [6][7]. Group 4: Technical Advancements - The first product of the Xisuo X series, the Xisuo X206, features full-precision mixed computing capabilities and large memory capacity, addressing the memory bottleneck in large-scale model training and complex simulations [9]. - The Xisuo X206 is equipped with the self-developed MXMACA software stack, ensuring compatibility with mainstream GPU programming models and scientific computing frameworks, thus facilitating smooth code migration for users [9].

Core Viewpoint - The company, Muxi Co., Ltd. (688802.SH), anticipates a net loss for the year 2025, with losses expected to range from 650 million to 798 million yuan, representing a reduction in losses of 43.36% to 53.86% compared to the previous year [1] Group 1: Financial Performance - The projected operating revenue for 2025 is estimated to be between 1.6 billion and 1.7 billion yuan, indicating a growth of 115.32% to 128.78% year-on-year [1] - The reduction in share-based payment expenses compared to the previous year positively impacted the company's profits, contributing to a decrease in the loss margin and indicating an improving operational performance [2] Group 2: Strategic Focus and Market Position - The company has consistently focused on breakthroughs in core GPU technology, iterative upgrades, and industrialization since its establishment, leveraging its R&D strength and technical barriers to build a competitive GPU product system [1] - The company adheres to a "1+6+X" development strategy, enhancing market expansion efforts to improve its market position and influence in the high-performance GPU industry [1] - The products and services have gained widespread recognition and continuous procurement from downstream customers due to superior product performance and a comprehensive software ecosystem [1]

Core Viewpoint - The company, Muxi Co., Ltd. (688802.SH), anticipates a net loss for the fiscal year 2025, with losses projected between 650 million to 798 million yuan, representing a reduction in losses of 43.36% to 53.86% compared to the previous year [1] Group 1: Financial Performance - The expected operating revenue for 2025 is projected to be between 1.6 billion to 1.7 billion yuan, indicating a growth of 115.32% to 128.78% year-on-year [1] - The reduction in share-based payment expenses compared to the previous year positively impacted the company's profits, contributing to a decrease in the loss margin and indicating an improving operational performance [2] Group 2: Strategic Focus and Market Position - The company has consistently focused on breakthroughs in core GPU technology, iterative upgrades, and industrialization since its establishment, leveraging its R&D strength and technical barriers to build a competitive GPU product system [1] - The company adheres to a "1+6+X" development strategy, enhancing market expansion efforts to improve its market position and influence in the high-performance GPU industry [1] - The products and services have gained widespread recognition and continuous procurement from downstream customers due to superior product performance and a comprehensive software ecosystem [1]