On the evening of March 12, Cambrian officially disclosed its 2025 annual report. The company's revenue and profits both increased significantly, and it successfully achieved its first full-year profit since its listing, becoming the first company to withdraw from the science and technology innovation growth layer of the Science and Technology Innovation Board.
Annual report data shows that in 2025, Cambrian achieved operating income of 6.497 billion yuan, a year-on-year increase of 453.21%; net profit attributable to the parent company was 2.059 billion yuan, and net profit attributable to the parent company after deduction was 1.770 billion yuan, getting rid of the unprofitable status.
Cambrian simultaneously announced that the company's net profit attributable to its parent company in 2025 and net profit attributable to its parent company after non-deductions are both positive, meeting the conditions of "a company that was not profitable at the time of listing and achieved profitability for the first time".
The company's A shares will remove the special mark "U" on March 16, 2026, and the stock abbreviation will be changed from "Cambrian-U" to "Cambrian", and the stock code 688256 will remain unchanged.
It is understood that Cambrian was listed on the Science and Technology Innovation Board on July 20, 2020. Previously, because the net profit attributable to the parent company in 2019 was -1.179 billion yuan, it was a science and technology growth-level enterprise, so the stock abbreviation was displayed as "Cambrian-U" when it was listed.
The science and technology innovation growth layer of the Science and Technology Innovation Board originated from the “1+6” reform policy officially announced by the Chairman of the China Securities Regulatory Commission at the Lujiazui Forum on June 18, 2025.
On July 13, 2025, the Shanghai Stock Exchange issued the "Self-Regulatory Supervision Guidelines for Companies Listed on the Science and Technology Innovation Board No. 5 - Science and Technology Innovation Growth Layer" and other supporting rules. The science and technology innovation growth layer was officially implemented, and the first batch of 32 existing unprofitable companies were included in it.
After the policy was implemented, the review of listings of unprofitable companies was significantly accelerated. At the end of October 2025, Heyuan Biotechnology, Xi'an Yicai, and Bibet were among the first batch of newly registered companies in the science and technology innovation growth layer to be listed on the Science and Technology Innovation Board; since then, Moore Thread, Onrui Micro, Muxi Shares, and BeiXin Life have been listed one after another, and the science and technology innovation and growth layer has expanded to 39 companies.
According to the rules, the science and technology growth layer mainly serves unprofitable technology companies that were listed on the market with high technical barriers, large R&D investment, and broad development prospects. Companies that were unprofitable when listed were included from the date of listing, and companies that were listed before the release of the guidelines and did not make profits for the first time were included from the date of the release of the guidelines.
