Economic Observation Network Shanghai Fudan University (01385. HK) disclosed its semi annual performance report, with a year-on-year increase of 338.6% in net profit attributable to shareholders. At the same time, it received a government subsidy of 43.43 million yuan and will hold an extraordinary shareholders' meeting.

Performance and business situation:
Revenue of 2.225 billion yuan (+21.0%), net profit attributable to shareholders of 849 million yuan (+33.86%), and non net profit of 412 million yuan (+125.9%) The sharp increase in profits was mainly due to the recognition of fair value changes in the strategic allocation of Shenghe Jingwei, with a gain of 465 million yuan (an increase of about 420 million yuan after tax) and a year-on-year decrease of 128 million yuan in inventory impairment losses Note: Deducting non growth rate can better reflect the true trend of the main business.

Business progress:
Non volatile storage revenue of 621 million yuan (+41.1%) is the fastest growing engine, EEPROM has entered the supply chains of multiple automotive companies, and NOR Flash 64M and above have both increased in quantity and price FPGA revenue reached 740 million yuan (+8.7%), and FPAI's new product expansion went smoothly Sales of automotive MCU and white goods main control increased by over 100% year-on-year 。

Recent events:
Received subsidies related to income of 43.43 million yuan, accounting for 18.69% of the net profit attributable to the parent company in the most recent fiscal year ——This proportion is not small, and it will be reflected in the subsequent quarterly profit and loss statements.

Election of company executives:
On September 16th, an extraordinary shareholders' meeting was held to review Proposal 1 (which was approved at the 16th meeting of the 10th Board of Directors and disclosed on August 18th). If Guosheng Group holds shares, it needs to recuse itself from voting 。

Recent stock trends:
On August 24-28, it fell 4.18%, rebounded 5.32% on August 27, and then fell 3.24% on August 28, closing at HKD 25.68 at the latest. The performance exceeded expectations but the stock price fell instead of rising, and the market interpreted it as "all the good news" - net profit includes one-time gains, and the market is more concerned about whether the revenue growth rate can be sustained 。

Future Development:
Is there any disclosure of FPGA new products or major customer progress before the shareholders' meeting on September 16th, and can the storage price increase cycle continue. In terms of institutional consensus expectations, Everbright Securities emphasized on August 19th that "continuous iteration of new products opens up AI computing power and commercial aerospace space" 。

The above content is based on publicly available information and does not constitute investment advice.