Moore Threads Technology Reports 155% Revenue Growth in Q1 with Return to Profitability

Deep News04-26

Moore Threads Technology Co.,Ltd. (688795.SH) has released its financial results for the first quarter of 2026 and the full year of 2025. According to the reports, the company achieved revenue of 738 million yuan in Q1 2026, representing a year-on-year increase of 155.35%. Net profit attributable to shareholders reached 29 million yuan, an improvement of 142 million yuan compared to the same period last year. However, the company's net profit attributable to shareholders after deducting non-recurring items showed a loss of 54 million yuan, though this loss narrowed by 60.10% year-on-year.

For the full year of 2025, Moore Threads Technology generated revenue of 1.505 billion yuan, a surge of 243.37% compared to the previous year. Gross profit totaled 987 million yuan, an increase of 218.43% year-on-year. The losses for both net profit attributable to shareholders and net profit after deducting non-recurring items narrowed by 38.16% and 33.38%, respectively. After excluding the impact of share-based payments, the net loss for 2025 was 648 million yuan, which was 847 million yuan less than the previous year, representing a reduction of 56.65%. The company maintained a high level of investment in research and development, with annual R&D expenses reaching 1.305 billion yuan, accounting for 86.68% of its total revenue.

Amid a surge in demand for AI computing power, Moore Threads Technology, as a leading domestic GPU manufacturer, has accelerated its commercial progress. In the first quarter of 2026, the company secured a major order valued at 660 million yuan for its Kuae Intelligent Computing Cluster. Furthermore, the company stated that it is one of the few GPU suppliers in the market to have successfully implemented large-scale commercial applications for thousand-card and ten-thousand-card clusters. Its intelligent computing cards have already been deployed in multiple intelligent computing centers and cloud service platforms. Based on its next-generation "Huagang" architecture, the company is advancing the development of ultra-large-scale intelligent computing clusters capable of supporting one hundred thousand cards, alongside core technologies such as super-node systems.

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