AI | Cambricon's Revenue Surged 4.5x Last Year, Achieving Historic Turnaround to Profitability

Cambricon Technologies (688256.SH), a mainland Chinese chipmaker, announced that in 2025, its operating revenue reached 6.497 billion yuan (RMB), a year-on-year increase of 4.5 times; net profit was 2.059 billion yuan, achieving a historic turnaround from loss to profit. After excluding non-recurring gains and losses, net profit still stood at 1.77 billion yuan. In 2024, the company recorded a loss of 450 million yuan.

Zhang Jianping increased his holdings by 408,000 shares

The company plans to distribute a cash dividend of 15 yuan per 10 shares and to convert 4.9 shares for every 10 shares held using capital reserve funds.

Amid the global computing power race triggered by generative AI, Cambricon’s performance report marks the group’s complete exit from a long-term loss cycle and also announces that domestic intelligent computing infrastructure has officially entered a new era of scaled profitability.

According to Cambricon’s annual report, well-known investor “ally” Zhang Jianping increased his holdings by 408,400 shares to a total of 6.8149 million shares, accounting for 1.62% of circulating shares. Based on Thursday’s closing price of 1,099 yuan, Zhang Jianping’s holdings are worth nearly 7.5 billion yuan. Founder Chen Tianshi holds 28.35%, remaining the largest shareholder.

Analysts pointed out that Cambricon’s operating revenue jumped from 1.174 billion yuan in 2024 to 6.497 billion yuan in 2025, a rare leap even within the hardware technology sector of A-shares. The three-year financial comparison reveals a clear evolution path: net loss of 848 million yuan in 2023, narrowed to 452 million yuan in 2024, and a net profit of 2.059 billion yuan in 2025. Regarding R&D investment as a percentage of revenue, it dropped sharply from 91.3% in 2024 to 17.99% in 2025, a decrease of over 73 percentage points.