InnoScience (Suzhou) Technology Holding (2577) investor relations material

Executive summary

• Revenue grew 46.3% year-over-year to RMB1,213.3 million, driven by breakthroughs in GaN applications across AI data centers, new energy vehicles, robotics, and energy storage.

• Gross profit margin turned positive to 7.3% from -19.5% last year, with adjusted EBITDA swinging to a profit of RMB52 million from a loss.

• Loss for the year narrowed by 19.6% to RMB840.5 million, reflecting improved scale, product mix, and cost control.

• Major R&D and mass production milestones achieved in high-voltage and integrated GaN devices, with global market share leadership maintained.

Financial highlights

• Revenue: RMB1,213.3 million (+46.4% YoY); gross profit: RMB88.8 million (vs. loss of RMB161.4 million prior year).

• Adjusted EBITDA: RMB52 million (vs. -RMB148 million prior year); net loss: RMB840.5 million (improved from RMB1,045.7 million).

• Gross margin improved to 7.3% from -19.5% YoY; cost of sales rose 13.6% to RMB1,124.5 million.

• Cash and cash equivalents at year-end: RMB879.0 million (down from RMB1,525.0 million).

• Total assets: RMB7,070.5 million; total equity: RMB4,210.6 million.

Outlook and guidance

• Plans to expand GaN applications in consumer electronics, data centers, automotive, industry, and energy storage.

• Continued investment in next-gen high/low-voltage 4.0 technology and integrated solutions.

• Wafer production capacity to be increased beyond 20,000 wafers/month; focus on process optimization and cost reduction.

• Strategic cooperation with global power chip manufacturers to accelerate GaN market penetration.