Axera Semiconductor (600) H2 2025 earnings summary

Executive summary

• Revenue rose 18.8% YoY to RMB561.7m as smart vehicle and edge AI businesses expanded; gross margin improved to 21.6%. IFRS loss widened to RMB1,184.2m, while adjusted loss was RMB634.5m.

• Shipments reached 86m SoCs in 2025, with cumulative shipments exceeding 212m; strategic focus remains on on-device computing, smart vehicles and edge AI inference.

Financial highlights

• Revenue increased to RMB561.7m from RMB472.9m; gross profit rose to RMB121.3m from RMB99.4m, and gross margin improved to 21.6% from 21.0%.

• Loss for the year was RMB1,184.2m versus RMB904.2m; loss attributable to equity shareholders was RMB1,149.3m versus RMB860.9m.

• Adjusted loss was RMB634.5m versus RMB627.7m, excluding redemption-liability remeasurement, equity-settled share-based payment and listing expenses.

• R&D expense increased 1.3% to RMB596.4m; general and administrative expense rose 69.9% to RMB231.5m, including RMB23.8m of listing expenses.

Outlook and guidance

• 2026 priorities include continued R&D investment in computing power, energy efficiency and software usability across on-device, in-vehicle and edge AI chips.

• Plans include expanding Night Vision products, ramping M57 in China and overseas, commercializing M97, and developing a second ADAS chip and an intelligent-cockpit acceleration chip.

• Edge AI plans include higher-performance Edge LLM chips and SoCs with Transformer engines for embodied robotics; no numerical financial guidance was stated.