【中航证券】寒武纪（688256）-2025Q1季报点评：反季节性创新高，强化算力扩张逻辑-250420（4页）.pdf

1、 1 资料来源：ifind，中航证券研究所 资产负债表资产负债表利润表利润表会计年度会计年度20232023202420242025E2025E2026E2026E2027E2027E会计年度会计年度20232023202420242025E2025E2026E2026E2027E2027E货币资金3953.711986.493374.886475.9110903.13营业收入709.391174.465023.437532.3610167.83应收票据及账款683.57334.031114.561464.861420.25营业成本218.80508.412194.853306.144474.

2、18预付账款147.90774.381472.172207.442979.79税金及附加4.352.9721.8932.8244.30其他应收款26.1419.25158.43237.56320.68销售费用82.0770.0675.3575.32101.68存货99.401773.971803.991358.691225.80管理费用153.56180.53200.94225.97254.20其他流动资产736.79912.192558.563456.754400.24研发费用1117.511215.871255.861355.831423.50流动资产总计流动资产总计5647.525800

3、.3210482.5915201.2121249.89财务费用-44.77-19.32-7.28-17.62-31.03 长期股权投资229.56246.59252.56258.53264.51资产减值损失-138.03-52.92-226.34-339.38-458.13 固定资产182.61247.14164.7278.38-11.88 信用减值损失-133.99 137.230.000.000.00在建工程109.16150.23125.19100.1575.11其他经营损益0.00-0.00-0.00-0.00-0.00 无形资产149.93182.7642.27-98.23-238.

4、73 投资收益74.2522.6862.7762.7762.77长期待摊费用5.6015.027.510.000.00公允价值变动损益0.27-0.08 0.000.000.00其他非流动资产93.6675.7575.7575.7575.75资产处置收益-0.41 1.280.150.150.15非流动资产合计非流动资产合计770.52917.50668.00414.59164.77其他收益144.23220.12212.38212.38212.38资产总计资产总计6418.046717.8111150.5915615.8021414.66营业利润-875.81-455.75 1330.792

5、489.823718.18短期借款0.00100.090.000.000.00营业外收入1.310.721.221.221.22应付票据及账款237.23514.642209.233327.814503.49营业外支出0.250.740.360.360.36其他流动负债225.95203.401713.232568.083466.40其他非经营损益0.000.000.000.000.00流动负债合计流动负债合计463.18818.143922.475895.887969.89利润总额-874.74-455.77 1331.652490.683719.04长期借款5.141.77-5.01-10

6、.61-14.81 所得税3.341.16-3.59-6.71-10.01 其他非流动负债220.19467.43467.43467.43467.43净利润-878.08-456.93 1335.232497.383729.05非流动负债合计非流动负债合计225.33469.20462.42456.82452.62少数股东损益-29.64-4.59 42.4879.46118.64负债合计负债合计688.511287.334384.886352.718422.51归属母公司股东净利润-848.44-452.34 1292.752417.923610.41股本416.59417.46417.46