Core Viewpoint - Liyang Chip's 2025 semi-annual report indicates strong growth in integrated circuit testing revenue, driven by high demand and new customer product launches [1][2]. Group 1: Financial Performance - In the first half of 2025, Liyang Chip's revenue from integrated circuit testing reached 277 million yuan, a year-on-year increase of 21.85% [1]. - The second quarter saw record revenue of 150 million yuan, up 32.03% year-on-year, and a net profit of 523,400 yuan, reflecting a 105.96% increase [1]. - The company's profitability improved significantly in the second quarter after a challenging first quarter, with revenue increasing sequentially [1]. Group 2: Strategic Initiatives - The "One Body, Two Wings" strategy has begun to show results, focusing on integrated circuit testing while enhancing operational efficiency [2]. - The company has developed a comprehensive service chain covering wafer thinning, laser grooving, and stealth dicing, improving chip yield and reliability [2]. - The wafer thinning business achieved revenue of 6.75 million yuan in the first half of 2025, a substantial increase of 111.61% year-on-year [2]. Group 3: Collaborative Efforts - Liyang Chip has established an exclusive partnership with Azoteq to provide heterogeneous wafer stacking and testing services [3]. - The "TerraSight" project, developed in collaboration with Azoteq, successfully demonstrated its technology in July 2025, with plans for further testing in the second half of 2025 [3]. - The ongoing implementation of the "One Body, Two Wings" strategy positions Liyang Chip to maintain a leading edge in the integrated circuit testing sector, supporting the development of the domestic chip industry [3].

Core Insights - The company reported a revenue of 284.04 million yuan for the first half of 2025, representing a year-on-year growth of 23.09% [2][3] - The net profit attributable to shareholders was a loss of 7.06 million yuan, showing a narrowing of losses compared to the previous year [2][3] - The net profit after deducting non-recurring gains and losses was a loss of 6.76 million yuan [2][3] Financial Performance - Total revenue for the reporting period was 284.04 million yuan, up from 230.75 million yuan in the same period last year, marking a 23.09% increase [3] - The total profit for the period was a loss of 8.95 million yuan, an improvement from a loss of 16.37 million yuan year-on-year [3] - The net cash flow from operating activities was 100.79 million yuan, down 9.40% from 111.24 million yuan in the previous year [3] Segment Performance - Revenue from integrated circuit testing reached 277.29 million yuan, a 21.85% increase year-on-year, with the second quarter achieving a record high of 150.26 million yuan [2][3] - The growth in testing revenue was driven by sustained demand from existing customers and new product introductions [2][3] - Revenue from wafer thinning and related services was 674.54 thousand yuan, up 111.61% year-on-year, attributed to the company's strategic layout and capacity release [4] Strategic Developments - The company is implementing a "one body, two wings" strategy, focusing on wafer thinning and laser grooving as extensions of its integrated circuit testing services [4] - A partnership with Dieling Optoelectronics has been established to provide unique services in wafer hetero-layering and testing [4] - The technology developed by Dieling Optoelectronics aims to enhance imaging capabilities under various weather conditions, supporting advancements in autonomous driving and robotics [4]