➢ 事件：8 月 18 日，瑞芯微发布 2025 年半年度报告，公司 25H1 实现收入 20.46 亿元，同比增长 63.85%；实现归母净利润 5.31 亿元，同比增长 190.61%； 实现扣非归母净利润 5.16 亿元，同比增长 191.36%. 瑞芯微（603893.SH）2025 年半年报点评 旗舰芯领航成长，全面拥抱 AIoT 2.0 浪潮 2025 年 08 月 24 日 其中，公司 2Q25 实现收入 11.61 亿元，同比增长 64.54%，环比增长 31.19%； 实现归母净利润 3.22 亿元，同比增长 179.41%，环比增长 54.07%。 ➢ AI 赋能业务腾飞，半年度营收创历史新高。2025 年上半年，公司依托在 AIoT 产品长期战略布局优势，顺应 AI 在端侧应用发展需求，经营业绩持续向好。 受产业景气度持续提升及公司战略布局的共同驱动，公司 25H1 的营收和净利润 均实现高增，销售毛利率达到 42.29%，同比提升 6.38 pct。此外，公司旗舰产 品 RK3588、次新产品 RK3576 等带领各产品线继续保持高速增长，特别是在 汽车电子、工业应用、机器视觉及各类机 ...

Core Viewpoint - 瑞芯微电子股份有限公司 has completed the cancellation of 789,000 stock options, which will not affect the company's capital structure or financial performance, nor the implementation of related incentive plans [1][2]. Group 1: Stock Options Cancellation - The cancellation of stock options was approved by the company's board and supervisory board [1]. - The specific details of the stock options cancellation were disclosed in previous announcements [1]. Group 2: AIoT Market and Company Performance - The company participated in the 2024 annual AI-themed performance briefing, discussing its operational results and financial status for 2024 and Q1 2025 [3][4]. - The company reported a revenue of 3.136 billion yuan in 2024, a year-on-year increase of 46.94%, and a net profit of 595 million yuan, up 341.01% [12]. - In Q1 2025, the company achieved a revenue of 885 million yuan, a 62.95% increase year-on-year, and a net profit of 209 million yuan, growing by 209.65% [12]. Group 3: AIoT Development and Strategy - The company is focusing on AI development, continuously iterating its self-developed NPU modules since 2018 to enhance AI support efficiency [5]. - The AIoT market is rapidly growing, and the company plans to launch co-processor chips to address the increasing demand for computing power [6]. - The company aims to maintain a strong R&D investment in AIoT, leveraging its technology and product advantages to capture market opportunities [7][14]. Group 4: Market Opportunities and Challenges - The company sees significant opportunities in the domestic AIoT market, particularly in automotive electronics, where it aims to increase its market share [8][9]. - The company has established a compliance system to address supply chain security challenges amid evolving international trade conditions [11]. - The company is gradually expanding its AIoT market globally, starting from a strong domestic base [10].