Earnings release
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– 1 – Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement. Shanghai Iluvatar CoreX Semiconductor Co., Ltd. (A joint stock company incorporated in the People’s Republic of China with limited liability) (Stock Code: 9903) ʮ̡ INTERIM RESULTS ANNOUNCEMENT FOR THE SIX MONTHS ENDED JUNE 30, 2026 The Board is pleased to announce the unaudited condensed consolidated results of the Group for the six months ended June 30, 2026, together with the comparative figures for the six months ended June 30, 2025. FINANCIAL HIGHLIGHTS For the six months ended June 30, Period-over- period change2026 2025 RMB’000 RMB’000 (%) (Unaudited) Revenue 945,679 324,263 191.6 Gross profit 162,561 162,433 0.1 Profit/(loss) for the period 106,272 (609,316) N/A(2) Adjusted net profit/(loss) (non-HKFRS measure)(1) 246,024 (299,771) N/A(2) Notes: (1) We define adjusted net profit/(loss) as profit/(loss) for the period adjusted by adding back share-based payment expenses and listing expenses. For details, see the section headed “Non-HKFRS Measure” in this announcement. (2) We experienced a turnaround to profit. For details, see the section headed “Profit/(Loss) for the Period” in this announcement.
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– 2 – MANAGEMENT DISCUSSION AND ANALYSIS BUSINESS REVIEW We are a leading provider of GPGPU products and AI computing solutions in China. Adhering to independent development with an R&D cadence of “mass-producing one generation, designing the next and pre-researching the one after,” we pursue software-hardware co-design to deliver high-quality computing power. In January 2026, we released our four-generation architecture roadmap and launched the Tongyang ( ҕ̯ ) series of edge-side computing products for industrial and commercial intelligence and transportation intelligence. The Tongyang series brings cloud-level multi-computing fusion and high-concurrency inference capabilities to the edge, integrating CPU and GPU computing power with high-speed interfaces to complete our “cloud + edge + terminal” full-scenario computing layout. In July 2026, we released TG Gen 4, our new-generation flagship, based on a SIMT general computing architecture. It efficiently supports scalar, vector and tensor computation and is optimized for Attention, MoE, AF separation, PD separation and large-scale system expansion. It improves converting computing power into Token output and business value. TG Gen 4 balances computing efficiency, latency and TCO under complex workloads, meeting requirements of scaled AI applications for versatility, performance and cost. During the Reporting Period, we achieved revenue of RMB945.7 million, representing a year-on-year increase of 191.6%. Revenue from core GPGPU products was RMB916.1 million, and gross profit from GPGPU products was RMB401.8 million, representing a year-on-year increase of 188.5% in GPGPU product gross profit. The Group recorded a net profit of RMB106.3 million and an adjusted net profit of RMB246.0 million during the Reporting Period, achieving a turnaround from loss to profit. Our business maintained robust growth and our customer base continued to expand. We achieved scaled deployment across Internet, AI large models, financial services, healthcare, scientific research and other sectors, establishing benchmark cases in industrial, commercial and transportation intelligence. As of June 30, 2026, the Group had served over 380 customers, providing support for our subsequent revenue growth. Looking ahead, we will continue to accelerate iteration of our chip architecture and software systems, drive proprietary core technologies from point breakthroughs towards universal computing power across industries, and support the digital and intelligent transformation of the real economy.