在智能驾驶产业高速发展的当下，“中国智能驾驶芯片第一股” 黑芝麻智能却交出了一份喜忧参半的半年报 ——2025 年上半年营收同比增长 40.4% 至 2.53 亿元，但亏损规模高达 7.62 亿元，经调整亏损 5.49 亿元，毛利率更是从去年同期的 50.0% 腰斩至 24.8%。这份财报撕开了公司 “盈利虚胖” 的假象，也暴露了其在竞争、成本控制上的深层困境。一、业绩透视：营收增长难掩亏损，盈利...
Source Link在智能驾驶产业高速发展的当下，“中国智能驾驶芯片第一股” 黑芝麻智能却交出了一份喜忧参半的半年报 ——2025 年上半年营收同比增长 40.4% 至 2.53 亿元，但亏损规模高达 7.62 亿元，经调整亏损 5.49 亿元，毛利率更是从去年同期的 50.0% 腰斩至 24.8%。这份财报撕开了公司 “盈利虚胖” 的假象，也暴露了其在竞争、成本控制上的深层困境。一、业绩透视：营收增长难掩亏损，盈利...
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