Hanwang, Mowang "Midterm Exams" Subpar?

Overseas computing power supply disruptions are forcing demand toward domestic alternatives. Cambricon's semi-annual revenue neared 6 billion yuan, doubling year-over-year, while Moore Threads' half-year results already surpassed its full-year total from last year. Yet behind the impressive figures, supply chain concerns emerge—HBM price hikes, gross margin pressure, and surging inventory. The second-half exam has shifted from "can they sell" to "can they profit."