AI inference SoC provider Axera Semiconductor Co. Ltd. (0600.HK) announced on Sunday that its revenue jumped 181.8% year-on-year to 402 million yuan ($60 million) in the first half of the year. But its loss for the period widened to 688 million yuan from 562 million yuan a year earlier, while its adjusted loss also increased to 540 million yuan from 319 million yuan.
All three of the company’s core businesses recorded strong growth during the period. Revenue from on-device computing products rose 169.5% to 341 million yuan, accounting for 84.8% of the total. Revenue from edge AI products surged 251.9% to 27.7 million yuan, while revenue from smart vehicle solutions jumped 252.1% to 29.1 million yuan. The company’s gross profit increased 308.3% to 117 million yuan, lifting its gross margin to 29% from 20% a year earlier.
Axera said its shipments of smart vehicle SoCs reached around 420,000 units in the first half of the year, while it secured 24 new mass-production vehicle model design wins. Its R&D expenses rose 81% year-on-year to 516 million yuan, mainly due to increased investment in new chip models for smart vehicle solutions and edge AI products.
Axera shares opened higher on Monday before reversing course, and were down 9.35% at HK$12.89 by the midday break. The stock was about 54.3% below its IPO price in February.
By Lee Shih Ta
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