Shanghai Fudan Microelectronics Group Company (1385) Q4 2025 earnings summary

Executive summary

• Revenue grew 10.92% year-over-year to RMB3,982 million, driven by strong performance in FPGA, security and identification chips, and smart meter chips.

• Net profit attributable to shareholders dropped 59.42% year-over-year to RMB232 million, mainly due to higher R&D expenses and significant inventory impairment losses.

• Gross profit margin remained stable at 56.19%, with overall gross profit increasing by RMB229 million.

• The company maintained its leading position in key product lines and expanded its customer base in automotive electronics, industrial control, and smart home appliances.

Financial highlights

• Revenue: RMB3,982 million (up 10.92% year-over-year).

• Net profit attributable to shareholders: RMB232 million (down 59.42% year-over-year).

• Gross profit margin: 56.19%.

• R&D expenses: RMB1,223 million (up RMB192 million year-over-year), representing 26.88% of revenue.

• Asset impairment losses: RMB439 million (up RMB271 million year-over-year), mainly from inventory and intangible assets.

• Total assets: RMB9,205 million (up 1.81% year-over-year).

• Net assets attributable to shareholders: RMB6,135 million (up 4.08% year-over-year).

• Final dividend proposed: RMB0.58 per 10 shares (down from RMB0.80 last year).

Outlook and guidance

• Focus on high-end and application-specific chip sectors, aiming for technological leadership and market influence.

• Continued strategic investment in R&D, with emphasis on domestic production, innovation, and talent development.

• Plans to enhance supply chain resilience, operational efficiency, and customer service.