Cambrian (688256) has been deeply engaged in the field of AI chips since its establishment, has carried out a large number of innovations in processor instruction sets and microarchitectures in the development process, and has continuously iterated and improved the developer kit and developer ecology, so that the company has grown into a core supplier of domestic intelligent computing chips.

The disk shows that on February 21, Cambrian rose 20%, the turnover rate reached 3.96% throughout the day, and the amplitude reached 18.14%. Wind data shows that the company's stock price has risen by 18.57% in the past five trading days; In the past 30 trading days, the company's stock price has risen by 14.96%.

In terms of performance, on January 15, the company released the performance forecast of the 2024 annual report, which is expected to achieve operating income of 1.07 billion yuan to 1.2 billion yuan, a year-on-year increase of 50.83% to 69.16%; The net profit attributable to the parent company is expected to lose 396 million yuan to 484 million yuan. Among them, in the fourth quarter of 2024, the company achieved a net profit of 284 million yuan, turning losses into profits year-on-year. The data from this Q4 report was a pleasant surprise to the market.

Yesterday, a private equity person in Shanghai told the "Public Securities Journal" reporter: "This is the first time that the company has achieved profitability in a single quarter since its listing, however, the company's stock price has been reflected before the performance. From a fundamental point of view, in the past, the annual reports and quarterly reports were all losses, and in the fourth quarter, they made a profit of hundreds of millions, which is really starting to make money. I think the company's performance in 2025 can be expected. ”

It is worth mentioning that Cambrian issued a proposal on repurchasing the company's shares on July 26, 2024, with a repurchase price of no more than 297.77 yuan per share (inclusive), a total repurchase fund of not less than 20 million yuan (inclusive) and no more than 40 million yuan (inclusive), and the repurchase period is within 12 months from the date of the board of directors reviewing and approving the repurchase plan.

According to the disk, from July 26, 2024 to February 21, 2025, the company's share price rose from 256.3 yuan/share to 742.21 yuan/share, during which the cumulative amount was as high as 190.15% in 137 trading days, the interval turnover rate was 305.19%, and the average daily turnover rate was only 2.23%. Among them, on January 10 this year, the company's share price also touched 777.77 yuan / share.

Mr. Wang, a shareholder who has been following the company for a long time, joked: "Other companies buy back and 'break their legs', and the stock price does not rise." Cambrian shares were not repurchased, and it did not affect the rise of the company's stock price. The repurchase price (297.77 yuan / share) reported by the company last year is no longer a reference. ”

According to the data of the Dragon and Tiger List, Cambrian yesterday saw a purchase amount of 2.72 billion yuan and a sell amount of 1.189 billion yuan, with a total net purchase of 1.531 billion yuan. Specifically, institutions sold a total of 135 million yuan. In addition, the special Shanghai Stock Connect and the Beijing Guanghua Road Securities Business Department of Guotai Junan Securities bought 1.21 billion yuan and 572 million yuan respectively; The Shanghai Stock Connect and the Second Securities Business Department of UBS Securities Shanghai Pudong New Area Huayuan Shiqiao Road sold 523 million yuan and 221 million yuan respectively.

Source: Public Securities Journal Reporter: Zhang Cao

Editor: Dong Mi