Cambricon Releases 2025 Annual Report: Revenue Surges 453%, Achieving First-Ever Profitability

On the evening of March 12th, AI chip company Cambricon (688256.SH) released its 2025 annual report, achieving its first-ever full-year profit since its listing. The report shows that in 2025, the company achieved operating revenue of 6.497 billion yuan, a year-on-year increase of 453.21%; net profit attributable to shareholders was 2.059 billion yuan, successfully turning a loss into a profit, compared to a loss of 452 million yuan in the same period of the previous year.

The significant increase in performance was mainly due to the continued rise in computing power demand in the artificial intelligence industry. The company's products have achieved large-scale deployment in several key industries such as telecommunications, finance, and the internet. By product line, cloud products became the absolute pillar of revenue, achieving revenue of 6.476 billion yuan for the year, a year-on-year increase of 455.34%, accounting for over 99% of total revenue.

The company continued to maintain high-intensity R&D investment, with total R&D investment of 1.169 billion yuan for the year, accounting for 17.99% of operating revenue. As of the end of 2025, the company had 887 R&D personnel, accounting for 80.13% of its total employees.

Following its return to profitability, Cambricon simultaneously disclosed its first profit distribution plan since its listing: a proposed cash dividend of RMB 15 per 10 shares (inclusive of tax), totaling RMB 632 million, along with a 4.9-for-10 stock split. The company's stock will remove the special "U" identifier on March 16th, and its stock abbreviation will change to "Cambricon".

At the end of the reporting period, the company's total assets reached RMB 13.438 billion, an increase of 100.03% compared to the end of the previous year; net assets were RMB 11.836 billion, an increase of 118.27%. The annual report also disclosed potential risks such as a surge in inventory and high customer concentration, reminding investors to pay attention.

Cambricon stated that it will continue to focus on the field of artificial intelligence chips, seize the opportunities for computing power development brought about by the technological innovation of large-scale models, consolidate its product advantages in cloud-edge-device collaboration, increase market expansion efforts, and promote the company's continued steady business development.