[VeriSilicon: Orders on hand reached 18.569 billion yuan It is expected that the adjusted net profit attributable to the parent will become positive in 2027] On November 5, VeriSilicon (688521.SH) released an investor relations activity record announcement. As of the end of September 2026, the company's order amount on hand reached 18.569 billion yuan, an increase of 265.90% from the end of last year and an increase of 49.16% from the end of the second quarter. It has remained at a high level for 12 consecutive quarters. Design service orders usually require a design and development cycle of 9-12 months to gradually realize revenue conversion; mass production service orders usually require a complete production delivery cycle of 6-18 months from the signing of the contract. The company expects to achieve a positive adjusted EBITDA in the second half of 2026 and a positive full-year adjusted net profit attributable to shareholders of listed companies in 2027. The adjusted proportion of R&D expenses in revenue in the third quarter of 2026 dropped by approximately 8 percentage points from the second quarter. It is expected that the relevant proportions in the second half of 2026 compared with the first half and the whole year of 2026 compared with the full year of 2025 will maintain a downward trend. The company has provided a well-known new energy vehicle manufacturer with self-driving chip customization services based on the 5nm car-standard process, achieving a successful tape-out, and is promoting chiplet solutions in the field of smart travel. The company and Google jointly created the ultra-low energy consumption CoralNPUIP based on the RISC-V instruction set for end-side large language model applications, providing end-side AI solutions for AI glasses, AI rings and other wearable devices, AI toys, and AI Pads. In terms of FD-SOI technology, customer chips using the company's 802.11ah, 802.15.4g and GNSS radio frequency IP have been mass-produced. A total of more than 330 FD-SOIIP cores have been authorized to 47 customers. One-stop design services for 49 FD-SOI projects have been provided to well-known domestic and foreign customers, 40 of which have been tape-out.