GalaxyCore (688728) reported 2025 results: revenue reached RMB 7.782 billion, up 21.91% . However, net profit plunged 72.96% to just RMB 50.51 million. Non‑recurring net loss stood at RMB -91.81 million.

Strong core business: Mobile CMOS image sensor shipments exceeded 1.1 billion units – a top‑tier global share. High‑pixel products surpassed 100 million units. Its 0.7µm 50MP sensor secured orders from international brands.

Profit collapse reasons:

• USD/RMB exchange loss widened, financial costs soared 139.24% to RMB 357 million

• Gross margin dropped 3.37 points to 19.42% due to fierce competition

• Continued heavy R&D spending on high‑pixel products

Cash flow remained strong: Operating cash flow reached RMB 1.655 billion, up 72.84% . Total assets RMB 24.4 billion, receivables controlled.

ICgoodFind: GalaxyCore’s sensor shipments shine, but FX and margin pressure hurt profit. Strong cash flow offers a buffer.