Core Viewpoint - The company, Aojie Technology (688220), is experiencing growth in its custom chip business, with expectations for significant revenue increases in the coming years, particularly in 2026. Group 1: Business Model and Revenue Recognition - The company employs a Turnkey model for its custom chip business, providing comprehensive services from design to mass production, with revenue recognized upon client acceptance after project completion, typically taking 1 to 2 years [2] - During the mass production phase, the company charges based on a cost-plus principle, and the revenue from these sales is included in the custom chip business segment, not in self-developed chip sales [3] Group 2: Order Status and Revenue Forecast - The company has a strong order backlog in its custom chip business, with expectations for revenue to grow significantly in 2026 compared to 2024, although specific client details cannot be disclosed due to confidentiality agreements [4] Group 3: Product Development and Market Position - The company is focusing on developing wearable and cloud inference chips in collaboration with internet companies [5] - The company has advantages in AP (Application Processor) design, with expertise in complex chip designs and proprietary modules for graphics, image, and signal processing, positioning itself to meet demands in automotive and robotics sectors [6] Group 4: Market Outlook and Performance - The company is optimistic about the RISC-V server chip market and has initiated collaborations with several enterprises in this area, expecting strong sales growth in the second half of the year, traditionally a peak season for the semiconductor industry [7] - The company is advancing its 5G smartphone chip, which is in the late stages of development and is expected to enhance its product lineup starting in the second half of next year [10] Group 5: Financial Performance - For the first half of 2025, the company reported a main revenue of 1.898 billion yuan, a year-on-year increase of 14.67%, while the net profit attributable to shareholders was -245 million yuan, up 7.29% year-on-year [13] - The company’s gross margin stands at 24.72%, with a debt ratio of 16.05% [13] Group 6: Analyst Ratings and Predictions - Recent analyst reports indicate a positive outlook for the company, with three institutions giving buy ratings and a target price averaging 136.7 yuan [14]

科创50ETF龙头(588060)紧密跟踪上证科创板50成份指数，上证科创板50成份指数由上海证券交易所科 创板中市值大、流动性好的50只证券组成，反映最具市场代表性的一批科创企业的整体表现。Wind数 据显示，该指数前三大重仓行业为半导体（60.6%）、医疗器械（6.6%）、软件开发（5.2%）。 市场普遍对半导体后续行情保持积极态度，有机构认为：国产其他芯片厂商陆续上市；寒武纪下一代产 品极具竞争力，测试完成后会看到很大领先性，且其互联网建立生态再到渠道的打法具有很强优势。 此外，寒武纪定增已受理，批文后产业预期会更友好。大厂需求仍然很旺盛，前期产能波动影响预期， 但已经修正。 关于科创板块ETF，市场普遍认为，这类资产1）打包投资一篮子科创板龙头股票；2）当日涨跌幅限制 ±20%；3）开户就能投，对账户资产和投资年限没有要求；4）盘中交易便利，可以像股票一样交易。 科创50ETF龙头(588060)，紧密跟踪上证科创板50成份指数，场外联接(A类：013810；C类：013811；F 类：021768)。 持续受益于AI算力迭代、国产化替代加速及政策红利释放，2025年8月14日午后科技主线持续发力，中 ...