During the trading session on August 27, Cambrian-U (688256.SH)’s stock price once soared to 1,464.98 yuan per share, surpassing the intraday price of Kweichow Moutai (600519.SH) during the same period, and was once promoted to the “stock king” of A-shares. Then Cambrian’s stock price fell and did not hold the position of “stock king”.

On the evening of August 26, Cambrian disclosed its 2025 semi-annual report, with operating income of 2.881 billion yuan in the first half of the year, a year-on-year increase of 4347.82%; net profit attributable to shareholders was 1.038 billion yuan, a loss of 530 million yuan in the same period last year; net profit attributable to shareholders was 913 million yuan, both of which turned losses into profits.

Cambrian achieved a single-quarter profit for the first time in the fourth quarter of last year. By the first quarter of this year, its performance continued to rise, achieving operating income of 1.111 billion yuan and net profit attributable to shareholders of 355 million yuan. Regarding the reasons for the turnaround of net profit this time, Cambrian stated in its semi-annual report that it was mainly due to the significant increase in operating income in this period.

Cambrian said that the company’s products continue to be deployed on a large scale in many key industries such as operators, finance, and the Internet, and have passed the verification of customers’ strict environment. During the reporting period, the company’s products continued to optimize the reliability and ease of use of software and hardware platforms, and can maintain stability for a long time under large-scale commercial scenario deployment. In addition, the company’s products are universal in various typical application scenarios of artificial intelligence and have been widely recognized by customers.

In the first half of 2025, Cambrian maintained a high-intensity R&D investment, reaching 456 million yuan, an increase of 2.01% over the same period last year, and the proportion of R&D investment in operating income was 15.85%. As of the end of the reporting period, the company had a R&D team of 792 people, accounting for 77.95% of the total number of employees, and 80.18% of the R&D personnel had a master’s degree or above.