边缘AI芯片第一股爱芯元智（00600.HK）今日盘中大幅下挫，跌幅一度达到8.87%，引起了市场的广泛关注。
消息面上，分析指出，公司自成立以来持续亏损且亏损规模不断扩大，构成了股价的主要压力。财务数据显示，爱芯元智2022年至2024年净亏损分别为6.12亿元、7.43亿元和9.04亿元，2025年前三季度净亏损进一步扩大至8.56亿元。高额的研发投入是导致亏损的重要原因，2025年前三季度研发开支占收入比例超过153%，严重侵蚀了短期利润。
此外，公司还面临负债高企、客户与供应商集中度较高等财务风险。截至2025年9月30日，公司负债净额达45.18亿元人民币。同时，尽管公司在智能驾驶SoC领域号称国内第二大供应商，但该业务收入占比仍然较低，2025年前三季度仅贡献总收入的6.4%，业务结构失衡问题凸显。这些基本面因素共同引发了投资者对该公司盈利前景和估值水平的担忧，导致股价在交易时段内承压大跌。
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