Core Viewpoint - Jingjia Micro (300474.SZ) is advancing the promotion and application of its JM11 series products, focusing on building a domestic GPU application ecosystem in collaboration with industry partners [2] Group 1: Product Development - The company's subsidiary, Wuxi Chengheng Microelectronics Co., Ltd., is developing high-integration, high-performance, low-power edge AI chips aimed at various markets including target recognition and edge computing [2] - The edge AI chips support large model computations and are applicable in diverse scenarios such as smart pods, industrial drones, robots, AIPC, and AI smart terminals [2] Group 2: Industry Trends - The development of edge AI chips aligns with the growth trends in the artificial intelligence industry, indicating a promising outlook for the sector [2] - The company is monitoring the progress of its product development closely, suggesting a proactive approach to market demands and technological advancements [2]

Group 1: AI Chip Development - DeepSeek-V3.1, a new model, features a hybrid reasoning architecture and supports both thinking and non-thinking modes, enhancing efficiency [1] - The model utilizes UE8M0 FP8 Scale parameter precision, indicating future applications in domestic AI chips, which may accelerate the domestic computing power ecosystem [1] - Companies like Yuntian Lifei focus on AI inference chips, with a projected explosive growth in inference computing demand over the next five years, expected to reach 67% of AI workloads by 2024 [2][3] Group 2: Market Dynamics and Company Performance - Semiconductor and computing concept stocks surged in the A-share market, with the Sci-Tech 50 Index rising over 8% [2] - Companies are actively investing in AI capabilities, with significant investments in AI computing centers, such as Zhonghao Xinying's 200 PFlop/s AI computing center [3] - Companies like Shunwang Technology are expanding their edge computing capabilities to meet the growing demand for computing power [5] Group 3: Product Development and Market Strategy - Companies are developing AI-related products, with a focus on overcoming high AI hallucination rates and enhancing performance to compete with major players like Huawei and Cambrian [2] - Jiangyuan Technology's D10 chip is the first fully domestic AI computing chip, with ongoing efforts to develop the necessary software ecosystem for overseas markets [7] - Companies are committed to digital transformation and optimizing operational efficiency to enhance competitiveness and support high-quality development [6][8]

Group 1: Company Performance and Financials - The company achieved a revenue of 46,634.24 million CNY in 2024 and 10,245.83 million CNY in the first quarter of 2025 [3] - R&D investment over the last three fiscal years totaled 92,725.91 million CNY, accounting for 39.74% of the cumulative revenue during the same period [5] - In Q1 2025, R&D expenditure was 6,984.74 million CNY, representing 68.17% of the company's revenue [5] Group 2: Product Development and Market Strategy - The JM11 series products are being promoted for applications in servers, workstations, desktops, and laptops, but market demand and user experience may affect business outcomes [3] - The company focuses on innovation and product iteration to enhance market competitiveness and optimize product structure based on market needs [2] - The company is committed to developing high-performance GPU chips for various applications, including gaming, AI, and autonomous driving [5] Group 3: Industry Outlook and Competitive Position - The company emphasizes the importance of R&D management and efficiency to maintain competitiveness against peers [6] - There is a focus on attracting high-end R&D talent to strengthen the core development team and enhance product innovation capabilities [6] - The company is optimistic about the future of the GPU market, particularly in AI applications, and plans to continue investing in R&D [5]