The disclosure of the 2025 third-quarter reports for companies on the Sci-Tech Innovation Board has been completed.
According to statistics from the Sci-Tech Innovation Board Daily, there are a total of 68 companies involved in chip design on the Sci-Tech Innovation Board, covering digital chips, analog chips, and discrete devices.
The financial reports disclosed by these 68 chip design companies show that 59 of them achieved positive revenue growth in the first three quarters of 2025, accounting for over 86%; 26 companies reported positive net profit attributable to shareholders and achieved year-on-year growth in the first three quarters.
From the revenue perspective, the top ten companies by revenue scale in the first three quarters of 2025 are: Hygon Information, Biwin, Sitrans, Gekewei, Jingchen Co., Ltd., Cambrian, Lanke Technology, Fudan Microelectronics, Hengxuan Technology, and Aojie Technology.
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Hygon Information reported an operating income of 9.49 billion yuan in the first three quarters of this year, a year-on-year increase of 54.65%; the net profit attributable to shareholders was 1.961 billion yuan, a year-on-year increase of 28.56%.
Hygon Information stated that the demand for domestic high-end chips has continued to rise this year. The company has accelerated client introduction and expanded the market footprint of high-end processor products through deepening cooperation with OEMs and ecological partners in key industries and fields, achieving significant growth in operating income.
As of the end of the third quarter, Hygon Information's contract liabilities remained at a high level, reaching 2.8 billion yuan. At the same time, Hygon Information has continued to increase inventory at the upstream supply end, with the prepayment amount at the end of the third quarter being 2.618 billion yuan, an increase of nearly 600 million yuan compared to Q2; inventory increased by approximately 500 million yuan quarter-on-quarter.
Hygon Information indicated that the localization rate of high-end processors is accelerating significantly in terms of incremental space and stock replacement. The company will continue to deepen cooperation with existing key industry and field clients and further expand its market footprint. At the same time, it will actively seek new market opportunities and application fields to expand market coverage.
Biwin reported a revenue of 6.575 billion yuan in the first three quarters of this year, a year-on-year increase of 30.84%; the net profit attributable to shareholders was 30.4139 million yuan, a year-on-year change of -86.67%; the net profit after deducting non-recurring items was -184 million yuan, a year-on-year change of -108.18%.
Biwin stated that due to the impact of the global macroeconomic environment, storage prices began to decline quarter by quarter starting from the third quarter of 2024, reaching a temporary low in the first quarter of 2025, with a significant drop in product sales prices in the first quarter. Starting from the second quarter of 2025, as storage prices stabilized and rebounded, the company's key projects were gradually delivered, and sales revenue and gross margin gradually improved, leading to a gradual improvement in operating performance.
As of the end of the third quarter of this year, Biwin's inventory increased significantly to 5.695 billion yuan, a quarter-on-quarter increase of 30% and a year-on-year increase of 52%
Regarding the future development trends of the storage industry, Biwin stated that first, in the deep application of AI in cloud, edge, and endpoint, it is necessary to adapt to the AI era in multiple technical fields such as chip design, advanced packaging, and testing equipment, and to produce products that meet the comprehensive requirements of larger capacity, higher performance, lower power consumption, and smaller size. Second, global trade frictions have led to market fragmentation, emphasizing the need for localized delivery capabilities. Third, the deep integration of storage and advanced packaging has made advanced packaging the main direction of technological advancement.
In the first three quarters of this year, Lanqi Technology reported an operating income of 4.058 billion yuan, a year-on-year increase of 57.83%; the net profit attributable to the parent company was 1.632 billion yuan, a year-on-year increase of 66.89%.
Lanqi Technology stated that benefiting from the trend of the AI industry, the penetration rate of DDR5 memory interface chips has significantly increased compared to 2024. In the third quarter, the company's DDR5 memory interface chip sub-generation continued to iterate, with sales revenue of the third sub-generation RCD chip exceeding that of the second sub-generation product for the first time, and the fourth sub-generation RCD chip began to be shipped in scale.
As of October 27 this year, Lanqi Technology expects that the order amount for DDR5 second-generation MRCD/MDB chips to be delivered in the next six months has exceeded 140 million yuan.
In the first three quarters of 2025, the top five companies with the highest revenue growth were Cambricon, Yuanjie Technology, Hidawei, Kewit, and Sirui Pu. Among them, Cambricon achieved a revenue growth of 2386.38% in the first three quarters; Yuanjie Technology, Hidawei, and Kewit all achieved double growth in revenue.
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In the first three quarters of this year, Cambricon's revenue was 4.607 billion yuan, a year-on-year increase of 2386.38%. The company previously announced that it expects to achieve an annual operating income of 5 billion to 7 billion yuan in 2025. In terms of net profit attributable to the parent company, Cambricon achieved 1.605 billion yuan in the first three quarters.
Regarding the changes in performance, Cambricon stated that this is mainly due to the company's continuous market expansion and active support for the implementation of artificial intelligence applications, resulting in a significant increase in revenue compared to the same period last year.
Cambricon stated that relying on the significant progress made in artificial intelligence chip products and basic system software platforms, the company's products have been continuously deployed on a large scale in key industries such as telecommunications, finance, and the internet, and have passed rigorous environmental verification by customers. Since the beginning of this year, Cambricon's products have continuously optimized the reliability and usability of the software and hardware platforms, maintaining stability for long periods under large-scale commercial deployment. In addition, the company's products have universality in various typical AI application scenarios and have received widespread recognition from customers.
From the perspective of net profit attributable to the parent company, the top ten companies in terms of scale in the first three quarters of 2025 are: Hygon Information Technology, Lanqi Technology, Cambricon, Sitiwei, Jingchen Co., Ltd., Hengxuan Technology, Lexin Technology, Fudan Microelectronics, Juchen Co., Ltd., and Aiwei Electronics
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In the first three quarters of this year, Juchen Co., Ltd. achieved operating revenue of 933 million yuan, a year-on-year increase of 21.29%; the net profit attributable to the parent company was 320 million yuan, a year-on-year increase of 51.33%; the net profit excluding non-recurring gains and losses was 288 million yuan, a year-on-year increase of 43.87%, marking the highest level in its historical same period.
Juchen Co., Ltd. stated that the revenue growth was mainly due to the continuous improvement of its product layout in high value-added markets in recent years. The sales revenue of products such as DDR5SPD chips, automotive-grade EEPROM chips, and high-performance industrial-grade EEPROM chips achieved rapid growth compared to the same period last year.
In addition, 12 companies including Yutai Micro, Aojie Technology, Xinyuan Co., Ltd., Kangxi Communication, Xidi Micro, and Naxin Micro reduced their losses year-on-year in the first three quarters; 10 companies including Cambricon, Yuanjie Technology, Shengke Communication, Weijie Chuangxin, and Jingfeng Mingyuan turned losses into profits.
Yuanjie Technology achieved revenue of 383 million yuan in the first three quarters, a year-on-year increase of 115.09%; the net profit attributable to the parent company successfully turned from a loss of 550,000 yuan in the same period last year to a net profit of 106 million yuan.
Yuanjie Technology stated in its financial report that the growth in performance this year was mainly due to the gradual increase in the volume of CW silicon photonic light source products in the data center market, leading to a year-on-year increase in company revenue, as well as a significant increase in the high-margin data center segment, further optimizing the product structure, resulting in an increase in total profit and net profit.
Jingfeng Mingyuan achieved operating revenue of 1.117 billion yuan in the first three quarters of this year, a year-on-year increase of 2.67%; it achieved a net profit attributable to the parent company of 23.3297 million yuan, an increase of 77.6307 million yuan compared to the same period last year.
Jingfeng Mingyuan stated that the company actively aligned with market demand, continuously optimized its product structure, and maintained a stable increase in product gross margin, leading to an increase in gross profit year-on-year. Among them, the revenue proportion of motor control driver chips increased by 4.58 percentage points year-on-year, with revenue increasing by 24.86%; the revenue proportion of high-performance computing power supply chips increased by 3.34 percentage points year-on-year, with revenue increasing by 191.34%

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In the first three quarters of 2025, among the 68 chip design companies on the STAR Market, 59 achieved positive revenue growth, accounting for over 86%. 26 companies reported positive net profit attributable to shareholders and year-on-year growth. Hygon Information's operating revenue was 9.49 billion yuan, a year-on-year increase of 54.65%, with a net profit attributable to shareholders of 1.961 billion yuan, a year-on-year increase of 28.56%. Biwin's revenue in the first three quarters was 6.575 billion yuan, a year-on-year increase of 30.84%

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Hygon Information Technology

Review of the Third Quarter Reports of the Chip Design Sector on the Sci-Tech Innovation Board: 59 Companies Achieved Positive Revenue Growth, 10 Companies Turned Losses into Profits