据证券之星公开数据整理，近期立昂微（605358）发布2025年中报。根据财报显示，立昂微增收不增 利。截至本报告期末，公司营业总收入16.66亿元，同比上升14.18%，归母净利润-1.27亿元，同比下降 90.0%。按单季度数据看，第二季度营业总收入8.45亿元，同比上升8.41%，第二季度归母净利 润-4598.94万元，同比下降1141.26%。 本次财报公布的各项数据指标表现一般。其中，毛利率11.14%，同比减10.02%，净利率-9.08%，同比 减10.94%，销售费用、管理费用、财务费用总计2.13亿元，三费占营收比12.8%，同比增9.0%，每股净 资产10.41元，同比减6.91%，每股经营性现金流0.51元，同比减35.26%，每股收益-0.19元，同比减 90.0% 建议关注公司应收账款状况（年报归母净利润为负） 分析师工具显示：证券研究员普遍预期2025年业绩在4950.0万元，每股收益均值在0.07元。 证券之星价投圈财报分析工具显示： 业务评价：去年的净利率为-12.85%，算上全部成本后，公司产品或服务的附加值不高。从历史年报数 据统计来看，公司上市以来中位数ROIC为7.2 ...

Core Viewpoint - The company is experiencing growth in its silicon wafer and epitaxial wafer business, but is facing increased losses in net profit due to various factors, including depreciation costs and inventory write-downs [4][5]. Group 1: Financial Performance - The company expects to achieve a revenue of 1.666 billion yuan in the first half of 2025, representing a year-on-year growth of 14.19% [4]. - The forecasted net profit attributable to shareholders is expected to be -121 million yuan, indicating an increase in losses of approximately 54 million yuan compared to the same period last year [4]. - The company anticipates a non-recurring net profit of -120 million yuan, with a year-on-year increase in losses of about 78 million yuan [4]. Group 2: Business Operations - The company's heavily doped epitaxial wafers have strong competitiveness, contributing to revenue growth due to high demand [5]. - The sales volume of 6-inch semiconductor wafers reached 9.2786 million pieces in the first half of 2025, a year-on-year increase of 38.72% and a quarter-on-quarter increase of 9.95% [5]. - The sales volume of 12-inch wafers was 811,500 pieces, equivalent to 3.2459 million 6-inch wafers, showing a year-on-year growth of 99.14% and a quarter-on-quarter growth of 16.68% [5]. - The sales volume of semiconductor power devices was 942,000 pieces, reflecting a year-on-year increase of 4.48% and a quarter-on-quarter increase of 2.12% [5]. Group 3: Future Growth Potential - The company’s subsidiary has developed a two-dimensional addressable VCSEL technology, which is the first of its kind in mainland China, with strong order fulfillment and significant growth in shipment volume [6]. - The VCSEL products are expected to drive future growth, with applications in automotive intelligent driving and robotics [6].