Cambricon Technologies (688256) Q1 2025 earnings summary

Executive summary

• Revenue surged 4,230.22% year-over-year to RMB 1.11 billion, driven by AI application market expansion.

• Net profit attributable to shareholders turned positive at RMB 355 million, compared to a loss last year.

• R&D investment remained high at RMB 235 million, supporting core technology development.

Financial highlights

• Operating income: RMB 1.11 billion, up from RMB 25.67 million year-over-year.

• Net profit: RMB 355 million, versus a loss of RMB 227 million in the prior year.

• Basic and diluted EPS: RMB 0.85, compared to -0.54 last year.

• Operating cash flow: negative RMB 1.40 billion, down from negative RMB 234 million year-over-year.

• Total assets: RMB 6.94 billion, up 3.38% from year-end.

Outlook and guidance

• Company continues to focus on AI chip and system software R&D, facing intense industry competition and rapid technological change.

• Risks include supply chain instability due to entity list restrictions and high R&D uncertainty.