KINGSEMI (688037) Q3 2025 earnings summary

Executive summary

• Revenue for the first nine months of 2025 was RMB 990.27 million, down 10.35% year-over-year.

• Net loss attributable to shareholders was RMB -10.05 million for the first nine months, a decrease of 109.34% year-over-year.

• Third quarter revenue was RMB 281.15 million, down 31.59% compared to the same quarter last year.

• Net loss for the third quarter was RMB -25.97 million, a decrease of 182.46% year-over-year.

Financial highlights

• Operating costs for the first nine months were RMB 648.43 million, down from RMB 697.86 million year-over-year.

• R&D expenses totaled RMB 187.77 million, representing 18.96% of revenue.

• Cash flow from operating activities for the first nine months was RMB -232.24 million, down 222.38% year-over-year.

• Basic and diluted EPS for the first nine months were both RMB -0.05, compared to RMB 0.54 last year.

Outlook and guidance

• Revenue decline attributed to order structure, production and delivery cycles, and reduced government subsidies.

• Management expects continued pressure on profitability due to increased personnel and related expenses.