Chinese AI chipmakers show mixed earnings as MetaX turns profitable

MetaX Integrated Circuits posted a net profit of 612 million yuan for the first half, reversing a loss from a year earlier, while Biren Technology narrowed its losses. MetaX's revenue rose 44.7% to 1.32 billion yuan, driven by higher GPU shipments. The results reflect Beijing's push for technological self-sufficiency.
MetaX's Shanghai-listed shares edged up 1.4 percent to 684.5 yuan by midday Monday, while Hong Kong-listed Biren Technology jumped 10.7 percent to HK$43.44. Iluvatar Corex fell 6.7 percent to HK$370.2, reflecting uneven investor sentiment across the sector.
The company made its Star Market debut in December and attributed its growth to widespread customer adoption and significantly higher GPU shipments. These results arrive as Beijing accelerates national AI infrastructure spending, with domestic GPU designers increasingly positioned as beneficiaries of the government's technology self-sufficiency campaign.
This earnings divergence could signal a maturing phase for China's domestic chip sector, where early movers gain financial traction while others still struggle. Investors, technology workers, and domestic AI firms may feel the effects through shifting market valuations and supply chain choices. If profitability becomes sustainable, it could strengthen China's negotiating position in global tech competition, though sustained success likely depends on continued policy support and demand from state-backed infrastructure projects.