--- title: "Domestic custom chip leader VeriSilicon: Expected annual loss to narrow by 25% year-on-year, revenue to increase by 36%, AI computing power drives orders to double | Financial report insights" type: "News" locale: "en" url: "https://longbridge.com/en/news/273488685.md" description: "Domestic custom chip leader VeriSilicon expects operating revenue of 3.153 billion yuan in 2025, a year-on-year increase of 35.81%; net loss of 449 million yuan, a year-on-year narrowing of 25.29%. The total new signed orders for the year are 5.960 billion yuan, a doubling growth of 103%. The company's backlog of orders remains high, with R&D investment accounting for 43% of revenue. The performance improvement is attributed to strong revenue growth and market demand, with a significant decrease in the proportion of R&D expenses" datetime: "2026-01-23T08:45:49.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/273488685.md) - [en](https://longbridge.com/en/news/273488685.md) - [zh-HK](https://longbridge.com/zh-HK/news/273488685.md) --- > Supported Languages: [简体中文](https://longbridge.com/zh-CN/news/273488685.md) | [繁體中文](https://longbridge.com/zh-HK/news/273488685.md) # Domestic custom chip leader VeriSilicon: Expected annual loss to narrow by 25% year-on-year, revenue to increase by 36%, AI computing power drives orders to double | Financial report insights Benefiting from record-high new orders signed in a single quarter and the gradual emergence of scale effects, the domestic custom chip leader VeriSilicon is expected to show a trend of "revenue growth and narrowing losses" in its 2025 performance. According to the annual performance forecast released by the company on January 23, it is expected to achieve an operating revenue of 3.153 billion yuan in 2025, a significant year-on-year increase of 35.81%; the net loss is expected to be 449 million yuan, narrowing by 25.29% compared to the same period last year. While the company's revenue scale is rapidly expanding, its overall profitability is gradually improving. Specific highlights are as follows: > - Financial performance: 2025 revenue of 3.153 billion yuan, a year-on-year increase of 35.81%; net loss of 449 million yuan, a year-on-year narrowing of 25.29%; non-recurring net loss of 627 million yuan, only narrowing by 2.49% > - Order explosion: New orders signed throughout the year reached 5.960 billion yuan, doubling year-on-year with a growth of 103%; Q4 single-quarter new orders of 2.711 billion yuan set a historical high; ending backlog of orders at 5.075 billion yuan > - Business structure: Revenue from mass production business grew by 74%, becoming the biggest highlight; AI computing-related orders accounted for over 73%; revenue from the data processing field accounted for 34% > - Cost pressure: R&D investment of 1.351 billion yuan, accounting for 43% of revenue; period expenses of 1.639 billion yuan, with R&D accounting for 80% From a structural perspective, the net profit attributable to the parent company's owners reduced losses by 152 million yuan year-on-year; however, the net profit loss after deducting non-recurring gains and losses was 627 million yuan, only narrowing by 2.49% year-on-year. **The improvement in performance is mainly attributed to the strong growth in annual revenue, record-high new orders signed in a single quarter, and a backlog of orders that has remained high for nine consecutive quarters.** At the same time, although the company continues to maintain high-intensity R&D investment, **due to rapid revenue growth, the proportion of R&D expenses to revenue has significantly decreased, and scale effects are beginning to emerge.** ## Record-high new orders signed in a single quarter, significant reduction in R&D expense ratio The core driver of the company's performance is **the explosive growth of new orders, which have set historical highs for three consecutive quarters, demonstrating strong market demand and customer recognition**. The new order amounts for the second, third, and fourth quarters of 2025 were 1.182 billion yuan, 1.593 billion yuan, and 2.711 billion yuan, respectively, with a quarter-on-quarter increase of 70.17% in the fourth quarter. The total new orders signed throughout the year reached 5.960 billion yuan, more than double that of 2024, with a year-on-year growth of 103.41%. Among them, AI computing-related orders accounted for over 73%, and orders in the data processing field accounted for over 50%. As of the end of 2025, the company's backlog of orders has risen to 5.075 billion yuan, maintaining a high level for nine consecutive quarters, an increase of 54.45% compared to the end of the third quarter. Notably, orders from the mass production business have exceeded 3 billion yuan, laying a solid foundation for the continuous improvement of future profitability due to scale effects. Additionally, it is expected that over 80% of the backlog will be converted within a year, with nearly 60% coming from the data processing application field In 2025, the company expects the total operating expenses to be approximately 1.639 billion yuan, of which research and development expenses account for about 80%. During the reporting period, the company's overall R&D investment reached 1.351 billion yuan. **Although maintaining a high investment intensity, thanks to the significant growth in operating income, the proportion of R&D expenses to revenue decreased by about 11 percentage points year-on-year to 43%, reflecting the beginning of scale effects being released.** Risk Warning and Disclaimer The market has risks, and investment requires caution. This article does not constitute personal investment advice and does not take into account the specific investment objectives, financial situation, or needs of individual users. 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