Core Viewpoint - The company reported significant growth in revenue and a reduction in losses for the third quarter of 2025, driven by high order volumes and strong demand in the semiconductor industry [4][9]. Financial Performance - The company achieved a record revenue of 1.281 billion yuan in Q3 2025, marking a 119.26% increase quarter-over-quarter and a 78.38% increase year-over-year [4]. - For the first three quarters of 2025, total revenue reached 2.255 billion yuan, representing a year-over-year growth of 36.64% [10]. Business Segments - Revenue from chip design services in Q3 2025 was 428 million yuan, up 290.82% quarter-over-quarter and 80.23% year-over-year [5]. - The mass production business generated 609 million yuan in Q3 2025, reflecting a quarter-over-quarter increase of 132.77% and a year-over-year increase of 157.84% [5]. - Intellectual property licensing revenue was 212 million yuan in Q3 2025, with a quarter-over-quarter growth of 13.43% [5]. Orders and Backlog - The company signed new orders worth 1.593 billion yuan in Q3 2025, a year-over-year increase of 145.80%, with approximately 65% related to AI computing [6]. - The total backlog of orders reached 3.286 billion yuan by the end of Q3 2025, with 83.52% coming from system manufacturers, large internet companies, cloud service providers, and automotive companies [8]. Profitability - The net loss attributable to the parent company narrowed significantly to 26.8511 million yuan in Q3 2025, a reduction of 84.20% year-over-year and 73.02% quarter-over-quarter [9]. - The company’s gross profit for the first three quarters of 2025 was 788 million yuan, with a gross margin of 34.95% [13]. Research and Development - The company maintained a high level of R&D investment, totaling 999 million yuan in the first three quarters of 2025, with a reasonable decrease in the proportion of R&D expenses relative to revenue [14].

Group 1 - The core viewpoint of the news is that the company Chiplet has achieved strong synergy between its semiconductor IP licensing business and custom chip services, leading to rapid order growth and significant market adoption of its technologies [1] - Chiplet's order backlog is expected to reach 3.025 billion yuan by the end of Q2 2025, with nearly 90% of these orders coming from its one-stop custom chip services [1] - The company has developed a video processor IP that is being adopted by multiple cloud platforms and internet service providers, supporting 8K video transcoding in data center video transcoding platforms [1] Group 2 - The company is focused on advancing Chiplet technology and has designed various chips based on the Chiplet architecture, as well as developed the UCIe interface [1]