Suzhou Novosense Microelectronics (688052) Q2 2025 earnings summary

Executive summary

• H1 2025 revenue rose 79.49% YoY to RMB1,523.66m; quarterly revenue climbed through the period, with Q2 reaching a record RMB806.60m, up 12.49% QoQ.

• Net loss narrowed substantially as higher sales and a more favorable product mix lifted gross margin; reported results remained loss-making, and operating cash flow turned negative amid inventory build and higher payroll outlays.

Financial highlights

• H1 revenue was RMB1,523.66m, up 79.49% YoY; operating costs were RMB1,609.91m, including cost of revenue of RMB987.12m.

• Attributable net loss was RMB78.01m versus RMB265.25m a year earlier; adjusted for share-based compensation, attributable net loss was RMB41.44m.

• Excluding non-recurring items, attributable net loss was RMB105.64m; non-recurring gains totaled RMB27.63m, including investment and fair-value-related gains.

• Operating cash flow was negative RMB307.67m versus positive RMB8.40m; cash paid for goods and services increased RMB648m YoY, up 154.95%.

• Inventory reached RMB1,053.46m, up 26.53% from year-end; inventory and contract-cost impairment expense was RMB35.87m in H1.

Outlook and guidance

• Automotive electronics demand was described as steady, while broad-energy markets showed recovery; sequential quarterly revenue increases continued through Q2.

• Product development targets automotive, industrial, AI-server power, sensor and robotics applications; multiple products entered mass production, sampling or customer-validation stages during H1.