Shanghai-listed Yuanjie Semiconductor Technology reported a 1,153% year-on-year jump in net profit for the three months ended March 31, reaching 179 million yuan (US$26.2 million), fueled by demand for laser chips in AI data centres. Revenue grew 321% to 355 million yuan. The company’s share price has risen elevenfold over the past year.
Yuanjie Semiconductor Technology disclosed in a stock-exchange filing on Monday that its net profit for the three months ended March 31 jumped 1,153% year on year to 179 million yuan (US$26.2 million). Revenue rose 321% to 355 million yuan.
Founded in 2013 and based in northwest China’s Shaanxi province, the company manufactures laser chips used in applications including AI data centres. China’s push for tech self-reliance and rising AI demand have boosted its performance.
Yuanjie’s share price has increased elevenfold over the past year, closing at 1,418 yuan on Monday and surpassing baijiu maker Kweichow Moutai as China’s costliest stock. Its market capitalisation stood at 121.8 billion yuan, compared to Cambricon’s 572.1 billion yuan.
