证券代码：688595 证券简称：芯海科技 公告编号：2026-005 二、经营业绩、财务状况情况说明 债券代码：118015 债券简称：芯海转债 芯海科技（深圳）股份有限公司 2025年度业绩快报公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容 的真实性、准确性和完整性依法承担法律责任。 本公告所载2025年年度主要财务数据为初步核算数据，未经会计师事务所审计，具体数据以芯海科技 （深圳）股份有限公司（以下简称"公司"或"芯海科技"）2025年年度报告为准，敬请投资者注意投资风 险。 一、2025年年度主要财务数据和指标 单位：人民币万元 ■ 注：1．本报告期初数同法定披露的上年年末数。 2．以上财务数据及指标以合并报表数据填制，但未经审计，最终结果以公司2025年年度报告为准。 （一）报告期的经营情况、财务状况及影响经营业绩的主要因素 本报告期，公司实现营业总收入84,855.73万元，同比增长20.82%；实现归属于母公司所有者的净利 润-10,603.93万元，实现归属于母公司所有者的扣除非经常性损益的净利润-11,564.43万元。本报告期， 归属于母 ...

证券日报网讯2月26日，芯海科技在互动平台回答投资者提问时表示，公司始终高度重视市值管理工 作，并认为扎实的经营业绩是市值稳定的根本基础。2025年公司预计实现营业收入约8.48亿元，同比增 长21%左右，核心产品如BMS芯片、智能穿戴PPG芯片及USBHUB芯片等均在头部客户实现规模出货。 在市值管理方面，公司将持续优化投资者沟通、提升经营透明度，以业绩回报投资者信任。 ...

Group 1 - The company announced a total asset impairment loss and credit impairment loss of 22.86 million yuan for the year 2025, reflecting the company's financial condition accurately as of December 31, 2025 [2][4] - The credit impairment loss amounted to 5.77 million yuan, based on expected credit losses from accounts receivable and other receivables [2] - The inventory impairment loss was 17.09 million yuan, calculated based on the lower of cost and net realizable value [3] Group 2 - For the year 2025, the company expects to achieve an operating revenue of approximately 848 million yuan, representing a year-on-year growth of about 21% [10] - The projected net loss attributable to the parent company for 2025 is approximately 106 million yuan, which is a reduction in loss of about 67 million yuan compared to the previous year [10] - The company anticipates a net loss of approximately 116 million yuan after deducting non-recurring gains and losses, also reflecting a reduction in loss compared to the previous year [10][12] Group 3 - The revenue growth is primarily driven by the successful launch of new products such as series BMS chips, smart wearable PPG chips, and USB HUB chips, alongside stable demand in traditional business areas [13] - The company incurred share-based payment expenses of approximately 34 million yuan, impacting the net profit attributable to the parent company [14] - The asset impairment preparation is based on the company's actual situation and accounting standards, and it does not involve changes in accounting methods [4][15]

Core Viewpoint - The company, Chipsea Technology, anticipates a net profit loss of approximately 106 million yuan for the year 2025, which represents a reduction in loss of about 67 million yuan compared to the previous year [1] Revenue Performance - The company expects to achieve an operating revenue of around 848 million yuan, reflecting a year-on-year growth of approximately 21% [1] - The revenue growth is primarily driven by strategic investments in new products such as series BMS chips, smart wearable PPG chips, and USB HUB chips, which are entering a rapid scaling phase and contributing significantly to revenue [1] - Traditional advantageous businesses, including smart instruments, human-computer interaction, and low-end consumer chips, have shown a recovery in demand, maintaining stable shipments and collectively driving the annual revenue growth [1]

Investment Rating - The report assigns a "Buy-B" investment rating to the company, with a target price of 39 yuan for 2026, based on a 5x price-to-sales (PS) ratio [4][6]. Core Insights - The company has demonstrated significant revenue growth and a reduction in losses, achieving 615 million yuan in revenue for the first three quarters of 2025, a year-on-year increase of 19.59%. The net profit loss narrowed to 63 million yuan, a substantial improvement of 52 million yuan compared to the previous year [2]. - The decision not to adjust the conversion price of the "Xinhai Convertible Bonds" reflects the board's confidence in the company's long-term value and growth prospects. This decision sends a positive signal to the market [3]. - The company is expected to leverage its dual-platform technology capabilities in analog and MCU, along with a comprehensive solution that integrates chips, algorithms, scenarios, and AI, to achieve effective growth in key strategic areas such as BMS, industrial precision measurement, PC, and automotive electronics [4]. Financial Performance Summary - Revenue projections for 2025 to 2027 are 899 million yuan, 1.124 billion yuan, and 1.303 billion yuan, respectively. The expected net profits for the same period are 7 million yuan, 53 million yuan, and 125 million yuan, indicating a positive trend towards profitability [4][10]. - The company has maintained a high level of strategic R&D investment while optimizing its operational management and cost structure, which has further enhanced its profitability [2]. Market Position and Growth Potential - The company is actively expanding into high-end sectors such as automotive electronics and industrial control, while also launching its first high-performance MCU chip with AI processing capabilities. This positions the company well for future growth and value recovery [3].