Science and Technology Innovation Board Evening Report | SMIC's net profit in 2025 is expected to grow by 36% year-on-year; Yunneng Technology plans to acquire a 22% stake in Tiantong Youneng

《Science and Technology Innovation Board Daily》March 26 News Report: Today’s evening report on the Science and Technology Innovation Board mainly includes: the Chinese Academy of Sciences has launched R&D for the next-generation open-source chips and systems; Guangzhou: support the construction of market-led intelligent computing infrastructure; Google launches the compression algorithm TurboQuant.

【Hot Topics Focus】

Brief News:

Chinese Academy of Sciences launches next-generation open-source chip and system R&D

At the Zhongguancun Forum Annual Meeting—RISC-V Ecology Science and Technology Forum, the Chinese Academy of Sciences officially released a series of major achievements in breakthroughs of key RISC-V technologies, industrial collaboration and innovation, and talent cultivation. It concentrated on the release of two important outcomes: the “Xiangshan” open-source processor and the “Ruyi” native operating system, and formally kicked off joint R&D of the next-generation chip and operating system. Experts said that RISC-V is a globally free and open chip-level architecture—equivalent to a “general standard” in the chip industry. It does not require paying patent royalties, can be independently modified, and is one of the important routes for China to break through the chip ecosystem and develop controllable computing power.

The State Administration for Market Regulation holds the first 2026 corporate fair competition symposium, emphasizing deep efforts to rectify “involution-style” competition

According to the State Administration for Market Regulation, on March 26, it held the first 2026 corporate fair competition symposium. Focusing on the theme of “standardizing corporate competitive behavior and building a favorable competitive ecosystem for companies going global,” it carried out in-depth exchanges with representatives from companies including Minmetals Group, China Construction Group, CATL, BYD, Chery Automobile, Didi, Meituan, and others, and listened to opinions and suggestions. A member of the Party Group and Deputy Director Meng Yang attended the meeting and delivered remarks. Meng Yang introduced the work the administration has carried out in safeguarding fair competition in the market and supporting enterprises to cultivate new competitive advantages. He emphasized that the administration will resolutely implement the decisions and deployments of the CPC Central Committee and the State Council; strengthen antitrust regulatory enforcement; enhance compliance guidance for enterprises; deeply rectify “involution-style” competition; deepen institutional-based opening in the competition field; and provide stronger support for enterprises to expand into international markets and achieve high-quality development.

Guangzhou: Strengthen intelligent computing layout; support market-led construction of intelligent computing infrastructure

The General Office of the People’s Government of Guangzhou has issued an implementation plan for promoting high-quality development of the artificial intelligence industry in Guangzhou. It proposes, among other things, to strengthen the intelligent computing layout. In accordance with national and provincial policy requirements, it will standardize the phased development planning and layout of a “city data center + park computing center” ladder plan, and optimize the construction standards for computing power projects. It supports market-led intelligent computing infrastructure development, and builds a system of urban intelligent computing centers and distributed edge computing centers based on an overall layout of “city + edge,” to meet the needs of ultra-low-latency business scenarios such as intelligent connected vehicles, finance, and virtual reality. It will guide existing stock data centers to complete upgrade and transformation, transforming into intelligent computing centers through green energy-saving upgrades. It will build an urban-level computing power coordination and dispatching platform to provide flexible computing power services for small and medium-sized enterprises.

Google launches compression algorithm TurboQuant, claiming approximately 6x memory savings

Google has recently introduced a compression algorithm called TurboQuant that may reduce the memory requirements of AI systems. According to Google, the TurboQuant compression technology is designed to reduce memory usage of large language models and vector search engines. The algorithm mainly targets the bottleneck issue of key-value caches used to store frequently accessed information in AI systems. As the context window becomes larger, these caches are becoming the main memory bottleneck. TurboQuant can compress the key-value cache to 3-bit precision without retraining or fine-tuning the model, while basically keeping model accuracy unaffected. Tests including open-source models such as Gemma and Mistral show that this technology can achieve about a 6x memory compression effect for key-value caches.

In-Depth Analysis:

【Science and Technology Innovation Board Announcements】

SMIC: 2025 net profit up 36% year-on-year

SMIC (688981.SH) disclosed its annual report. In 2025, operating revenue was 67.323 billion yuan, up 16.5% year-on-year; net profit attributable to shareholders was 5.041 billion yuan, up 36.3% year-on-year; and basic earnings per share were 0.63 yuan. In 2025, the smartphone market maintained steady growth; the PC market entered a refresh cycle, with sales increasing; consumer electronics and smart wearables, driven by AI on the edge, saw the market continue to expand steadily. The ongoing strengthening of localization and conversion in the industrial chain has led to more foundry outsourcing demand flowing back to the domestic market. The company’s operating performance improved steadily and it remains in the second position globally among pure-play wafer foundries.

BESMART Storage: Company’s shipment product mix continues to optimize; revenue and profit across all product lines show significant improvements

BESMART Storage said on an interactive platform that, as the company continues to deliver in batches high-value products for the AI emerging edge-side field, its shipment product mix has continued to optimize, and revenue and profit across each product line have shown significant improvements. Among them, products in areas such as AI emerging edge-side have higher growth potential. Starting from the second half of 2025, the storage industry enters a highly favorable cycle. DRAM and NAND prices continue to rise driven by AI computing power and localization, and supply remains tight relative to demand. The company benefits significantly.

eOptics (MUXI) Co., Ltd.: 2025 net loss of 790 million yuan

eOptics (688802.SH) announced that in 2025 revenue was 1.644 billion yuan, up 121.26% year-on-year; net loss was 790 million yuan, compared with a loss of 1.409 billion yuan in the same period last year. During the reporting period, the company continued to maintain high-quality R&D investment, with R&D spending accounting for 62.49% of operating revenue.

Chip Science and Technology: 2025 net profit 704 million yuan, up 32.16% year-on-year

Chip Integrated (688249.SH) announced that in 2025 it achieved operating revenue of 10.885 billion yuan, up 17.69% year-on-year; net profit attributable to shareholders was 704 million yuan, up 32.16% year-on-year; and basic earnings per share were 0.36 yuan.

BaiOceNet: 2025 net profit 173 million yuan, up 416.37% year-on-year

BaiOceNet announced that in 2025 operating revenue was 1.379 billion yuan, up 40.63% year-on-year; net profit was 173 million yuan, up 416.37% year-on-year.

Tianma Smart Control: 2025 net profit 97.8353 million yuan, down 71.19% year-on-year

Tianma Smart Control (688570.SH) announced that in 2025 operating revenue was 1.618 billion yuan, down 13.03% year-on-year; net profit attributable to shareholders was 97.8353 million yuan, down 71.19% year-on-year. The company plans to distribute a cash dividend of 1 yuan for every 10 shares (including tax). During the reporting period, affected by periodic adjustments in the coal industry and the acceleration of the energy-structure transition, the company’s major customers’ investment decisions became more cautious, capital expenditures were tightened, and total market demand for its products decreased. At the same time, competition in the industry further intensified. The company proactively adjusted its pricing strategy to consolidate its market share through competitively priced products, resulting in a contraction of the company’s revenue scale and a decline in gross margin for its main business product.

Yuneng Technology: Plans to acquire 22% equity interest in TianTong YouNeng for 17.5512 million yuan

Yuneng Technology (688348.SH) announced that the company plans to use its own funds of 17.5512 million yuan to acquire 15 million shares of TianTong YouNeng Technology Co., Ltd. held by Haining Pan-Semiconductor Industry Investment Co., Ltd., representing 22% of its total share capital.

Biotax: Received a 2.5 million USD milestone payment from STADA

Biotax (688177.SH) announced that the company recently received a 2.5 million USD milestone payment (after deducting bank handling fees) from STADA for the authorization license agreement payment related to BAT2506 (golimumab) injection. The agreement was signed on May 28, 2024. It grants STADA exclusive commercialization rights in European countries including the EU, the UK, and Switzerland. The total amount of the upfront payment and milestone payments is up to 157.5 million USD, and includes revenue sharing based on two-digit percentage of net sales. Currently, BAT2506 has been approved for marketing in Europe by the EMA. The product name is Gotenfia®, and marketing application submissions have been made to China’s NMPA, the U.S. FDA, and Brazil’s ANVISA; they are under review.

【Venture Capital Outlook】

Fao Robotics completes nearly $100 million Series C financing

Recently, Fao (Suzhou) Robotics Technology Co., Ltd. successfully completed nearly a $100 million Series C financing round. This round of financing was led by the GuoShou Dual Carbon Fund managed by GuoShou Capital, a subsidiary of GuoShou Investment, with follow-on investments from Hwaying Capital, Shunwei Capital, Yuanma Capital, and Qingliu Capital, among others.

Chengxin Zhilians completes a new round of financing

Chengxin Zhilian (Wuhan) Technology Co., Ltd. completed a new round of financing. This round is jointly invested by Hubei Province humanoid robot industry investment fund, Wuhan Rongdan Changzheng Qihang Venture Capital Fund, and Nanjing Kongdi Digital Wisdom Phase I industrial investment fund. The funds will help Chengxin Zhilian accelerate breakthroughs in core technology bottlenecks in the embodied intelligence segment and promote large-scale industrial implementation.

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