Core Viewpoint - Yuntian Lifei is a leading AI company in China, focusing on the research, design, and commercialization of AI inference chips, aiming to create a complete closed loop from infrastructure to product design and commercialization [4]. Industry Overview - The AI inference chip market in China is experiencing rapid growth, with the market size projected to increase from RMB 11.3 billion in 2020 to RMB 162.6 billion by 2024, representing a compound annual growth rate (CAGR) of 94.9%. It is expected to reach RMB 1,383 billion by 2029, with a CAGR of 53.4% from 2024 to 2029 [4]. Company Positioning - Yuntian Lifei ranks among the top three providers of AI inference chip products and services in China, and is also positioned as one of the top two providers specifically for NPU-driven AI inference chips based on projected revenue for 2024 [4]. Product Development - The company has developed the IFIC platform, which enables algorithm chip capabilities, and has created several NPU products, including Nova, DeepEye, DeepEdge, and others, along with supporting hardware and software tools [5]. Financial Performance - For the fiscal years ending March 31, 2022, 2023, 2024, and the first quarter of 2025, Yuntian Lifei reported revenues of approximately RMB 546.2 million, RMB 506.0 million, RMB 917.4 million, and RMB 264.0 million, respectively. The gross profits for the same periods were approximately RMB 174.1 million, RMB 119.0 million, RMB 192.1 million, and RMB 76.0 million [6][7].