Core Viewpoint - The company, Jingjia Micro, reported a significant decline in revenue and a net loss for the first half of 2025, primarily due to decreased industry demand and project delays, while also announcing plans to invest in an AI chip company [1][2]. Financial Performance - For the first half of 2025, Jingjia Micro achieved revenue of 193 million yuan, a year-on-year decrease of 44.78%, and a net profit attributable to shareholders of -88 million yuan, marking a shift from profit to loss compared to the same period last year [1]. - In Q2 2025, the company's revenue was 91 million yuan, down 62.42% year-on-year, with a net profit of -33 million yuan, indicating a transition to loss [2]. - The decline in revenue was attributed to reduced industry demand and project delays, compounded by customer cost control, ongoing R&D investments, and competitive market pressures [2]. Product Performance - The graphics and control product segment was the primary contributor to the revenue decline, with H1 revenue of 85 million yuan, a year-on-year decrease of 62.91% [2]. - Revenue from the small specialized radar and chip segments for H1 was 30 million yuan and 64 million yuan, respectively, reflecting year-on-year decreases of 18.84% and 3.39% [2]. R&D Investment - Jingjia Micro maintained a high level of R&D investment, with 153 million yuan allocated in H1 2025, accounting for 79.40% of its revenue [2]. Strategic Investment - The company announced plans to invest 220 million yuan in Wuxi Chengheng Microelectronics Co., aiming to acquire a 33.59% stake and control 64.89% of voting rights, thereby becoming the controlling shareholder [3]. - Chengheng Micro, established in June 2023, focuses on the design, development, and sales of edge AI chips, operating under a Fabless model [3]. - Financial data for Chengheng Micro indicates it is currently unprofitable, with revenues of 30,360 yuan and 0 yuan for 2024 and 2025 (January to May), and net losses of -12.9 million yuan and -6.2 million yuan, respectively [3]. Shareholder Changes - Notably, prominent private equity investor Ge Weidong has exited the list of the top ten shareholders of Jingjia Micro, having previously invested approximately 600 million yuan in a 2024 private placement [4].