China's MetaX posts third-quarter net profit as AI-chip sales rise

By Eduardo Baptista

Oct 30 (Reuters) - Chinese chip designer MetaX 688802.SS posted a third-quarter net profit as revenue more than quadrupled from a year earlier, helped by higher sales of graphics processing units, or GPUs, used in artificial-intelligence computing.

China's domestic AI-chip makers are seeking to expand sales as US restrictions on exports of cutting-edge GPUs have encouraged Chinese companies to look for local alternatives, although demand for AI computing chips still far exceeds domestic supply.

• MetaX listed on Shanghai's STAR Market in December 2025

• Company competes with domestic AI-chip developers including Moore Threads, Biren Technology, Iluvatar CoreX and Tianshu Zhixin

• Third-quarter revenue rose 367% from a year earlier to 1.50 billion yuan ($225 million)

• Net profit attributable to shareholders was 26.5 million yuan

• The company reported a pretax loss of 71.4 million yuan, partly reflecting a 383.4 million yuan loss related to changes in the value of financial assets and liabilities

• In the first nine months, revenue rose 128.5% to 2.82 billion yuan

• Net profit attributable to shareholders was 639.0 million yuan, including a 490.6 million yuan gain related to changes in the value of financial assets

• Research and development spending rose 19.1% to 828.3 million yuan

($1 = 6.6552 Chinese yuan renminbi)