Cambricon's Net Profit of 2.059 Billion Yuan Last Year: Turned Profitable and Shed "U" Status, Plans 10-for-1 Dividend of 15 Yuan with 4.9 Stock Dividend

On the evening of March 12, Cambrian (688256.SH) announced its 2025 annual report. The past year was a year of rapid growth for Cambrian, with revenue reaching 6.497 billion yuan, a year-on-year increase of 453.21%. Net profit attributable to shareholders of the listed company was 2.059 billion yuan, turning from loss to profit year-over-year, finally achieving its first annual profit after many years of listing. Non-recurring net profit was 1.77 billion yuan, also turning from loss to profit; basic earnings per share were 4.93 yuan. The company plans to distribute a cash dividend of 15 yuan (tax included) for every 10 shares to all shareholders, totaling 632 million yuan (tax included). Additionally, it will transfer 4.9 shares for every 10 shares from capital reserve, totaling an issuance of approximately 206,607,799 shares.

Cambrian 2025 Financial Report

Cambrian explained that during the reporting period, relying on significant progress in AI chip products, basic software platforms, and cluster software toolchains, the company’s products have been deployed at scale in key industries such as telecommunications, finance, and internet. These products have passed rigorous customer environment tests, and their versatility, stability, and ease of use have been widely recognized by customers.

By product category, last year Cambrian’s cloud product line revenue was 6.477 billion yuan with a gross margin of 55.22%. Edge product line revenue was 3.394 million yuan with a gross margin of 22.52%. IP licensing and software revenue was 2.2887 million yuan with a gross margin of 100%. Other revenue was 14.658 million yuan. Last year, Cambrian’s intelligent chip and board card production volume was 127,673 units, a year-over-year increase of 409.84%. Sales volume was 117,436 units, up 201.57% year-over-year. Inventory reached 857,057 units, a slight increase of 0.63%.

During the reporting period, the company closely followed the open-source ecosystem, significantly reducing development and migration costs for customers, laying a solid product and ecological foundation for future product promotion.

Cambrian continued to maintain high-intensity R&D investment, with R&D spending of 1,169.101 million yuan in fiscal year 2025, accounting for 17.99% of operating revenue.

Cambrian stated that during the reporting period, a new generation of intelligent processor microarchitecture and instruction set are under development. The new microarchitecture and instruction set will focus on optimizing scenarios such as large models for natural language processing, video and image generation, and vertical large models for training and inference, enhancing product competitiveness in terms of programming flexibility, usability, performance, power consumption, and area.

At the same time, the company continues to iterate on training software platforms and inference software platforms, achieving significant results. The training software platform has made progress in model compatibility, training performance, and tool usability. The inference software platform continues to advance in technological innovation and open-source ecology, improving system-level collaborative optimization and strengthening platform entry points and user base.

On the same day, Cambrian also announced that its A-shares will remove the special designation “U” on March 16, 2026. The stock abbreviation will change from “Cambrian-U” to “Cambrian,” with the stock code 688256 remaining unchanged.

Notably, the annual report shows that well-known investor Zhang Jianping increased his holdings of Cambrian during the period, ending with 6.8149 million shares, accounting for 1.62% of circulating shares, making him the fifth-largest shareholder. Based on the closing price of 1,099 yuan per share on March 12, Zhang Jianping’s holdings are valued at nearly 7.5 billion yuan.

As of the close on March 12, Cambrian’s stock price was 1,099 yuan per share, with a latest market value of 463.4 billion yuan.