Cambricon Technologies, a Shanghai-listed AI chip designer, reported a 131.49% year-over-year increase in net profit for the first nine months of 2026, reaching ¥3.715 billion.
Revenue for the same nine-month period grew by 106.76% to ¥9.526 billion. In the third quarter alone, revenue reached ¥3.531 billion, a 104.47% increase compared to the previous year.
Despite the growth, third-quarter revenue fell short of analyst expectations of approximately ¥6.26 billion. The company cited a shortage of high-bandwidth memory as the primary cause for the shortfall.
Inventory levels rose to ¥11.665 billion by the end of September. CEO Chen Tianshi confirmed the company maintains a full-year revenue target of at least ¥13.5 billion.
Morgan Stanley estimates that Cambricon holds a 14% share of the Chinese AI chip market. The company continues to invest in research and development for chips and software optimized for large models.
