Core Viewpoint - The company, Hangzhou Lian Microelectronics Co., Ltd., anticipates a significant reduction in losses for the fiscal year 2025, with projected revenues increasing by approximately 16.26% compared to the previous year, despite still reporting a net loss [2][4]. Financial Performance Summary - The company expects to achieve an operating revenue of approximately 359,500.00 million yuan for 2025, reflecting a year-on-year increase of about 16.26% [2][4]. - The projected net loss attributable to shareholders is around 12,100.00 million yuan, which represents a reduction in losses of approximately 54.47% compared to the previous year [2][4]. - The net profit attributable to shareholders after excluding non-recurring gains and losses is expected to be a loss of about 16,100.00 million yuan, indicating a year-on-year reduction in losses of approximately 39.46% [2][4]. - The company anticipates an EBITDA of approximately 112,000.00 million yuan, which is an increase of about 75.91% compared to the previous year [4]. Previous Year Comparison - In the previous year, the company reported an operating revenue of 309,231.66 million yuan [6]. - The net loss attributable to shareholders was 26,575.71 million yuan [7]. - The net profit attributable to shareholders after excluding non-recurring gains and losses was a loss of 26,595.86 million yuan [8]. - The EBITDA for the previous year was 63,669.83 million yuan [9]. Reasons for Performance Changes - The primary reasons for the change in net profit include increased depreciation and amortization expenses due to expansion projects, which amounted to approximately 112,370.00 million yuan, an increase of about 18,463.00 million yuan year-on-year [11]. - The company made a provision for inventory impairment of approximately 12,560.00 million yuan during the reporting period [11]. - Interest expenses related to convertible bonds were recorded at 13,540.00 million yuan [11]. - The acquisition of minority shares in a subsidiary led to a profit reduction of about 4,310.00 million yuan [11]. Business Segment Performance - The semiconductor silicon wafer segment showed a recovery in profitability, with average sales prices increasing and production scale expanding, particularly for 12-inch wafers, which saw significant growth in sales volume [12]. - The sales volume of semiconductor silicon wafers (equivalent to 6-inch) was approximately 1,939.41 million pieces, a year-on-year increase of about 28.20%, with 12-inch wafer sales increasing by approximately 61.90% [13]. - The revenue from the semiconductor silicon wafer business is expected to be around 267,867.85 million yuan, a year-on-year increase of about 19.66% [14]. - The revenue from the semiconductor power device chip business is projected to be 84,386.52 million yuan, a slight decrease of about 2.16% [14]. - The revenue from compound semiconductor RF and optoelectronic chips is expected to be approximately 32,744.47 million yuan, reflecting a year-on-year increase of about 10.84% [14]. Non-Recurring Gains and Losses - The company experienced a significant increase in non-recurring gains and losses, with a year-on-year increase of approximately 39.95 million yuan, primarily due to the appreciation of stock holdings and gains from the disposal of certain stocks [15].

Core Viewpoint - The company, Lianmicro, expects a reduction in losses for the year 2025, driven by growth in the semiconductor industry and improved profitability in its silicon wafer segment [1] Group 1: Financial Performance - Lianmicro anticipates revenue of approximately 35.95 billion yuan for 2025, representing a year-on-year increase of 16.26% [1] - The company projects a net loss of around 1.21 billion yuan for 2025, a decrease from a net loss of 2.66 billion yuan in the previous year [1] - EBITDA is expected to reach about 11.2 billion yuan, reflecting a year-on-year growth of approximately 75.91% [1] Group 2: Factors Affecting Performance - The continuous losses are attributed to depreciation and amortization expenses, inventory write-down provisions, convertible bond interest expenses, and fair value changes [1] - Depreciation and amortization expenses are estimated at around 11.24 billion yuan, with inventory write-down provisions and convertible bond interest expenses at 1.26 billion yuan and 1.35 billion yuan, respectively [1] Group 3: Market Demand and Sales Data - The company reported a significant increase in silicon wafer sales, with an estimated volume of approximately 19.39 million pieces for 2025, marking a year-on-year growth of 28.20% [3] - The sales volume of 12-inch silicon wafers is expected to reach 1.79 million pieces, a substantial increase of 61.90% [3] - The average selling price of silicon wafers is projected to rise quarterly starting from Q1 2025, driven by product upgrades and increased production scale [2] Group 4: Revenue Breakdown - The semiconductor silicon wafer business is expected to generate revenue of approximately 26.79 billion yuan, a year-on-year increase of about 19.66% [3] - Revenue from 12-inch silicon wafers is projected to be around 8.59 billion yuan, reflecting a growth of 65.63% [3] - The semiconductor power device chip business is expected to generate revenue of 8.44 billion yuan, a slight decline of 2.16% [3] Group 5: Future Outlook - The company aims to strengthen market marketing and expand market share as part of its 2026 operational plan [4] - Average shipment prices have been increasing since Q1 2025, with expectations for continued price growth as the silicon wafer industry and related applications improve [4]

Core Viewpoint - Lian Micro (605358) has confirmed its subsidiary, Lian Dongxin, specializes in the foundry manufacturing of compound semiconductor RF and optoelectronic chips, achieving mass production of 2D addressable laser radar VCSEL chips [1] Group 1 - Lian Dongxin possesses industry-leading manufacturing process technology advantages [1] - The company has implemented patent and trade secret protection measures to support its operational development needs [1]