Core Viewpoint - The company, 联芸科技, is actively advancing its product offerings in the data storage controller chip sector, with significant developments in PCIe5.0 and UFS3.1 technologies, while also managing inventory levels to respond to market demands effectively [2][3][5]. Group 1: Product Development - The new generation PCIe5.0 8-channel controller chip has achieved scale shipments, indicating strong market acceptance [5]. - The latest PCIe5.0 4-channel controller chip is in the critical customer validation phase, having gained recognition and cooperation intentions from several well-known storage manufacturers [2]. - The UFS3.1 controller chip is currently undergoing customer-side validation, aimed at applications in smartphones and tablets [2][5]. Group 2: Market Strategy - The company is strategically increasing inventory levels as a proactive measure to address long delivery cycles in the chip industry and to seize high-value market opportunities [3][5]. - The company is focusing on continuous innovation in key technologies related to data storage controller chips and IoT signal processing and transmission chips [3][6]. Group 3: Financial Performance - The company has seen a significant improvement in operating cash flow year-on-year, although it has not yet turned positive, primarily due to proactive inventory buildup [3]. - Management expenses have increased year-on-year, mainly due to rising share-based payment costs, while financial expenses have also risen due to foreign currency fluctuations related to overseas wafer procurement and IP licensing fees [4]. Group 4: Competitive Positioning - The company is committed to enhancing its core competitiveness by increasing R&D investment and launching competitive new products to solidify its industry position [4][6]. - The revenue share of higher-margin PCIe Gen4 SSD controller chips is continuously increasing, contributing to the overall improvement in the company's gross margin [6].

Core Viewpoint - 联芸科技's 2025 semi-annual report indicates significant growth in revenue and profit, driven by increased demand in the data storage market and advancements in AI technology [1][3]. Financial Performance - The company achieved a revenue of 609.7 million yuan, a year-on-year increase of 15.68% [1] - The overall gross margin was 51.66%, up by 2.93 percentage points from the previous year [1] - Net profit attributable to shareholders reached 56.135 million yuan, a 36.38% increase year-on-year [1] - The net profit excluding non-recurring items was 35.0934 million yuan, reflecting a 99.18% increase year-on-year [1] Market Dynamics - The growth in revenue and profit is attributed to three main factors: recovery in downstream demand, continuous development of AI technology increasing data storage needs, and a higher proportion of revenue from PCIe Gen4 SSD controllers [1][3][7]. - The global memory market is projected to grow at a compound annual growth rate (CAGR) of 11.6% from 2024 to 2028, reaching a market size of 319.3 billion USD by 2028 [1]. Product Innovation and Market Position - 联芸科技 has maintained growth in SSD controller shipments and market share by leveraging the booming AI technology and the recovering global data storage market [3]. - The company offers a comprehensive product line including SATA, PCIe3.0, PCIe4.0, and PCIe5.0, catering to diverse market needs [3]. - In the consumer SSD sector, the company has established stable partnerships with leading storage module manufacturers, enhancing product penetration and market share [3][5]. Competitive Edge - The company's product competitiveness and brand influence have significantly improved, driven by technological innovations and strong partnerships with major NAND manufacturers [5][6]. - The SSD controller market share for independent third-party manufacturers is approximately 50%, with 联芸科技 accounting for about 25% of the global SSD controller shipments [6]. Future Growth Potential - The PCIe Gen4 SSD controller has been pivotal in enhancing gross margins and profits, with a year-on-year shipment increase of 42.85% [7]. - The company is advancing its technology with the new PCIe5.0 controllers, which have already begun large-scale shipments and are expected to become a significant growth driver [8]. - As PCIe4.0 products gain traction and PCIe5.0 technology is implemented, the company is well-positioned to meet the increasing market demand for higher transmission speeds and lower latency [8].

答：投资者您好！在数据存储主控芯片领域，2025年公司新一代PCIe5.08通道主控芯片凭其高性能、低 功耗的表现，已实现规模出货，最新一代的PCIe5.04通道主控芯片已进入客户验证的关键阶段，该产品 凭借卓越的性能表现，已获得多家知名存储厂商的认可并达成合作意向；同时，公司UFS3.1主控芯片 正在客户侧进行验证工作，目前各项工作进展顺利。搭载着数据存储主控芯片的SSD、嵌入式存储器可 最终应用于包括PC、智能手机、可穿戴设备在内的消费电子、服务器等领域。在IoT信号处理与传输芯 片领域，新一代车载感知信号处理芯片已完成流片，正在推进后续推广工作。该类车载感知信号处理芯 片主要应用于汽车电子等行业。感谢您的关注！ 问：方董事长您好！请贵司芯片什么时候可以用于手机！ 具体内容如下： 问：方总您好！贵司今年会推出哪些新产品，具体用途是什么？ 证券之星消息，2025年8月27日联芸科技(688449)发布公告称公司于2025年8月26日召开业绩说明会。 答：尊敬的投资者，您好！未来，我们会始终围绕数据存储主控芯片、IoT信号处理及传输芯片两大领 域的关键核心技术持续创新，为客户提供"传输-处理-存储"的解决方案 ...