Chinese optical chipmaker’s profit soars 1,153% on strong AI demand
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Chinese optical chipmaker Yuanjie Semiconductor Technology reported a staggering 1,153% increase in net profit for Q1, reaching 179 million yuan, driven by strong AI demand and a push for tech self-sufficiency. Revenue surged 321% to 355 million yuan. Yuanjie’s share price has increased elevenfold over the past year, closing at 1,418 yuan, making it China’s most expensive stock. The company is pursuing an IPO in Hong Kong and reflects a growing trend towards optical communication technology in data centers. Other domestic chipmakers also reported significant profit increases amid rising demand.
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