Cambricon achieved its best-ever performance in Q1 this year.
Cambricon released its Q1 2025 financial report this evening (April 18), showing that its revenue in Q1 this year reached 1.111 billion yuan, almost matching last year's full-year revenue, up 4,230.22% YoY. Net profit attributable to the parent company was 355 million yuan, turning a profit YoY, marking the second consecutive quarter of profitability since Q4 last year, with a QoQ increase of 30.61%.
The reporter from the Science and Technology Innovation Board Daily noted that Cambricon's net profit attributable to the parent company, excluding non-recurring gains such as government subsidies and financial asset gains, also turned positive for the first time in history, reaching 276 million yuan.
Regarding the reasons for the significant performance growth, Cambricon stated in its financial report that it was mainly due to the company's continuous market expansion and active efforts to promote the implementation of AI applications, leading to a substantial increase in revenue compared to the same period last year.
In its 2024 annual financial report released this evening, Cambricon stated, leveraging the technological leadership of its intelligent chip products and supporting software platforms, the company's products have been continuously implemented in key industry application scenarios such as the internet, telecommunications, and finance. The usability of its software platforms, stability in large-scale commercial deployments, and universality in AI application scenarios have all been validated in customers' demanding environments.
Among these, Cambricon's product strength has been recognized by customers in the internet and telecommunications sectors. In the financial sector, in addition to providing continuous computing power support for traditional AI application scenarios, Cambricon fully carried out adaptation and optimization work for large models in 2024, helping customers implement large models in actual business scenarios. In the transportation sector, Cambricon participated in multiple vehicle-road-cloud integration projects, smart parking, and smart highway initiatives in 2024, contributing to the digitalization of transportation.
In terms of large model adaptation, Cambricon's inference software platform supported and optimized mainstream text-to-text models such as the DeepSeek series, Llama series, and Qwen series, as well as multimodal models like Flux, hunyuanvideo, and cogvideox last year.
Cambricon revealed that it also completed stability and accuracy verification for large models in cluster training in 2024, achieving industry-leading computational efficiency, which has been recognized by customers.
While achieving significant performance growth, Cambricon did not reduce its R&D investment. Its R&D investment in Q1 this year increased by 38.33% in total. The company's R&D investment accounted for 91.30% of its operating revenue in 2024.
Cambricon continued to increase its chip product reserves in the supply chain this year.
The financial report shows that Cambricon's inventory has been continuously increasing since Q3 2024. As of the end of Q1 2025, its inventory increased by over 55% compared to the end of 2024.
As of the end of Q1 2025, Cambricon's prepayments reached 973 million yuan, a record high.