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VeriSilicon Microelectronics (Shanghai) (688521) investor relations material
VeriSilicon Microelectronics (Shanghai) Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved revenue of RMB 3.15 billion in 2025, up 35.77% year-over-year, driven by strong growth in chip mass production and design services.
Net loss attributable to shareholders narrowed to RMB -527.81 million, with adjusted net loss (excluding non-recurring items) at RMB -613.60 million.
Gross margin was 34.19%, down 5.68 percentage points year-over-year due to revenue mix shift.
R&D investment remained high at RMB 1.35 billion, accounting for 42.78% of revenue.
No cash dividend or bonus shares proposed due to accumulated losses and negative operating cash flow.
Financial highlights
Revenue: RMB 3.15 billion, up 35.77% year-over-year.
Net loss: RMB -527.81 million, improved from RMB -600.88 million last year.
Gross profit: RMB 1.08 billion, up 16.43% year-over-year.
Operating cash flow: RMB -221.69 million, improved from RMB -345.99 million last year.
Total assets: RMB 7.72 billion, up 66.69% year-over-year.
Net assets: RMB 3.42 billion, up 61.03% year-over-year.
Outlook and guidance
Focus on expanding AI ASIC, automotive, wearable, data center, and IoT markets.
Continue high R&D investment and platform/ecosystem development for AI and Chiplet technologies.
Targeting further growth in cloud and edge AI, with strong order backlog supporting future revenue.
- 2024 revenue flat, net loss deepened, R&D surged, and order backlog hit record high.688521
Q4 202416 Mar 2026 - Q3 revenue hit a record high with sharply reduced losses and strong AI-driven order growth.688521
Q3 202528 Oct 2025 - H1 2025 revenue up 4.49% YoY, net loss RMB -320M, record orders, high R&D for future growth.688521
Q2 202522 Aug 2025
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