每经AI快讯，CPO等算力硬件股午后走强，新易盛、中际旭创涨超10%，天孚通信、工业富联涨超 6%，胜宏科技、景旺电子涨超5%。 （文章来源：每日经济新闻） ...

南方财经10月21日电，CPO等算力硬件股午后走强，新易盛、中际旭创涨超10%，天孚通信、工业富联 涨超6%，胜宏科技、景旺电子涨超5%。 ...

对于业绩大涨，工业富联解释称，主要系AI服务器市场持续增长，公司在主要客户的市场份额不断提 升带动营业收入上升。 8月11日，工业富联半年报揭晓：上半年实现营业收入3607.60亿元，同比增长35.58%；取得归母净利润 121.13亿元，同比增长38.61%，营收与净利润双双创下同期历史新高。 分季度看，2025年第二季度，工业富联营收达2003.45亿元，同比增长35.9%，首次突破2000亿元大关； 净利润68.86亿元，同比增长51.1%，业绩增速较第一季度显著提升。 回顾工业富联历年的中报业绩，不难发现今年的增长态势明显强于往年。从2021年到2024年，工业富联 中报分别取得归母净利润67.27亿元、68.72亿元、71.61亿元和87.39亿元，逐年稳步增长，而今年的增长 幅度显著扩大。 10月20日晚，工业富联公布了上市以来首次半年度利润分配方案，公司拟向全体股东每10股派发现金红 利3.3元（含税），合计拟派发现金红利65.51亿元（含税），占2025年上半年归母净利润的比例为 54.08%。 事实上，自上市以来，工业富联每年都大手笔分红，并且分红还在逐年递加。在2022年，工业富联的分 红 ...

21 October 2025 | 1:43AM HKT Equity Research Key takeaways 1. Profitability matters: Management maintained that margins matter to the company, and that there are several ways for them to at least hold steady, GM under the strong ramp up of rack-level AI servers: (1) enlarging scale: FII will continue to add new customers and increase allocation in existing customers to drive up scale, enhancing production efficiency, (2) focusing on better margin projects: similar to their strategy in general servers, FII w ...

Core Insights - The report highlights a mixed performance in various sectors, with growth in technology and healthcare industries while traditional sectors face challenges [4][5][12] - The macroeconomic environment shows a GDP growth of 5.2% year-on-year for the first three quarters, indicating a stable economic backdrop [7] - The report suggests that the A-share market is experiencing a phase of consolidation with structural opportunities emerging, particularly in technology and consumer sectors [6][8] Domestic Market Performance - The Shanghai Composite Index closed at 3,863.89, with a slight increase of 0.63%, while the Shenzhen Component Index rose by 0.98% to 12,813.21 [3] - The average P/E ratios for the Shanghai Composite and ChiNext are 15.74 and 46.77, respectively, indicating a favorable long-term investment environment [6][10] - Trading volume in the A-share market remains robust, with a daily average exceeding 17,000 billion, suggesting strong investor interest [6][10] Industry Analysis - The food and beverage sector is experiencing a slowdown in revenue growth, with a notable decline in certain sub-sectors such as prepared foods and health products [12][14] - The semiconductor industry is on an upward trajectory, with a 13.86% increase in September, driven by strong demand for AI-related hardware [19][20] - The telecommunications sector is seeing growth in 5G services, with a significant increase in mobile data usage and a focus on digital transformation in key industries [23][24] Investment Recommendations - The report recommends focusing on sectors such as soft drinks, health products, and baked goods within the food and beverage industry for potential investment opportunities [14][39] - In the semiconductor space, companies involved in AI infrastructure and storage solutions are highlighted as key areas for investment due to rising demand [21][26] - The telecommunications sector is advised for investment, particularly in companies that are leveraging AI and digital technologies to enhance service offerings [26][27]

每经AI快讯，Wind数据显示，根据上市公司权益分配方案梳理统计，26只A股今日股权登记。其中，信 捷电气、久祺股份、长久物流分红力度最大，每10股分别派息5.90元、4.00元、3.10元。此外，还有3股 抛出分红派息预案，工业富联、燕京啤酒、太龙股份拟分红力度最大，每10股拟分别派息3.3元、1.0 元、0.2元。 （文章来源：每日经济新闻） ...

Group 1: Company News - Industrial Fulian plans to distribute a cash dividend of 3.3 yuan per 10 shares, totaling 6.551 billion yuan (before tax) for the first half of 2025 [7] - Ningde Times reported a revenue of 283.072 billion yuan for the first three quarters, a year-on-year increase of 9.28%, and a net profit of 49.034 billion yuan, up 36.20% [5] - DiAo Micro plans to acquire 100% equity of Rongpai Semiconductor, with shares resuming trading on October 21 [7] - China Mobile's third-quarter revenue reached 250.9 billion yuan, a year-on-year increase of 2.5%, with a net profit of 31.1 billion yuan, up 1.4% [6] - Keda Xunfei reported a third-quarter revenue of 6.078 billion yuan, a year-on-year increase of 10.02%, and a net profit of 172 million yuan, up 202.4% [6] - Yanjing Beer achieved a third-quarter revenue of 4.875 billion yuan, a year-on-year increase of 1.55%, with a net profit of 668 million yuan, up 26% [6] - China Shipbuilding expects a net profit of 5.55 billion to 6.15 billion yuan for the first three quarters, a year-on-year increase of 104.30% to 126.39% [6] - Dazhu CNC reported a revenue of 3.903 billion yuan for the first three quarters, a year-on-year increase of 66.53%, and a net profit of 492 million yuan, up 142.19% [6] Group 2: Economic Indicators - The National Bureau of Statistics reported that the GDP for the first three quarters reached 10,150.36 billion yuan, with a year-on-year growth of 5.2% [1] - The GDP growth by industry showed the primary industry increased by 3.8%, the secondary industry by 4.9%, and the tertiary industry by 5.4% [1] - The quarterly GDP growth rates were 5.4% in Q1, 5.2% in Q2, and 4.8% in Q3, with a quarter-on-quarter growth of 1.1% in Q3 [1] - The People's Bank of China announced that the one-year Loan Prime Rate (LPR) remains at 3.0% and the five-year LPR at 3.5%, unchanged for five consecutive months [1] Group 3: Industry Developments - The Ministry of Industry and Information Technology held a meeting addressing the cement industry's supply-demand imbalance, emphasizing the need for capacity replacement and regulation [3] - The Dalian Commodity Exchange announced an expansion of trading varieties for qualified foreign institutional investors, adding new futures contracts [5] - The China Futures Market Monitoring Center reported that the total funds in the futures market exceeded 2 trillion yuan, marking a 24% increase from the end of 2024 [4]

Core Viewpoint - Industrial Fulian announced its first-ever semi-annual profit distribution plan since its listing in 2018, proposing a cash dividend of 3.3 CNY per 10 shares, totaling 6.551 billion CNY, which accounts for 54.08% of its net profit for the first half of 2025 [1][2]. Financial Performance - For the first half of 2025, Industrial Fulian reported revenue of 360.76 billion CNY, a year-on-year increase of 35.58%, and a net profit attributable to shareholders of 12.113 billion CNY, up 38.61% [2][3]. - The company's non-recurring net profit reached 11.668 billion CNY, reflecting a growth of 36.73% year-on-year [2]. AI Business Growth - The revenue from AI servers in the second quarter of 2025 saw a significant increase, with a year-on-year growth rate exceeding 60% [3]. - The demand for 800G high-speed switch products surged, with revenue in the first half of 2025 reaching nearly three times that of the entire year of 2024, driven by the rising need for data transmission [3]. Shareholder Engagement - Industrial Fulian's semi-annual dividend plan is seen as part of a broader trend in the A-share market towards enhancing shareholder returns, with more leading companies adopting mid-term dividends as a standard practice [3]. - The company has maintained a strong annual dividend record since its listing, with total dividends exceeding 56.5 billion CNY, and has distributed over 10 billion CNY annually for three consecutive years from 2022 to 2024 [2][3]. Stock Performance - Industrial Fulian's stock price has more than doubled in 2023, closing at 62.06 CNY per share on October 20, 2023, with a total market capitalization of 1,232.4 billion CNY [3].

证券代码：601138 证券简称：工业富联 公告编号：临2025-072号 富士康工业互联网股份有限公司 第三届董事会第二十七次会议决议公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容 的真实性、准确性和完整性承担法律责任。 富士康工业互联网股份有限公司（以下简称"公司"）董事会于2025年10月15日以书面形式发出会议通 知，于2025年10月20日以书面传签的方式召开会议并作出本董事会决议。会议应出席董事7名，实际出 席董事7名。会议由郑弘孟董事长主持召开，会议召开符合法律法规、《富士康工业互联网股份有限公 司章程》及《富士康工业互联网股份有限公司董事会议事规则》的规定。 会议审议通过了下列议案： 二〇二五年十月二十一日 证券代码：601138 证券简称：工业富联 公告编号：临2025-074号 富士康工业互联网股份有限公司关于 一、关于《富士康工业互联网股份有限公司2025年半年度利润分配预案》的议案 议案表决情况：有效表决票7票，同意7票，反对0票，弃权0票。 同意以实施2025年半年度利润分配方案股权登记日的总股本（扣除公司回购专用证券账户持有的股数） ...

Market Overview - On October 20, A-shares rebounded with the Shanghai Composite Index rising by 0.63%, Shenzhen Component Index by 0.98%, and ChiNext Index by 1.98% [1] - The total market turnover was 1.75 trillion yuan, a decrease of over 200 billion yuan compared to the previous trading day [1] - More than 4,000 stocks closed higher, with 96 stocks hitting the daily limit up [1] Sector Performance - The coal mining and processing sector led the gains, with stocks like Shaanxi Black Cat and Zhengzhou Coal Electricity hitting the daily limit up [1] - Other sectors that followed included gas, electric machinery, non-metallic materials, and airport industries [1] - Conversely, sectors such as precious metals, kitchen and bathroom appliances, and energy metals saw significant declines [1] Historical Highs - A total of 15 stocks reached historical closing highs, with notable concentrations in the electric equipment, coal, and pharmaceutical industries [2] - The average increase for these stocks was 5.75%, with stocks like Haike Xinyuan and Sanlian Forging hitting the daily limit up [2] Institutional Trading - In the Dragon and Tiger list, 12 stocks had net purchases exceeding 10 million yuan, with Innovation Medical leading at 116.25 million yuan [4] - Other significant net purchases included Sifangda and Haitong Development, with amounts of 110.35 million yuan and 56.23 million yuan respectively [4] - On the selling side, Chifeng Gold saw the highest net sell at 250 million yuan [4] Northbound Capital - Northbound funds had net purchases in 14 stocks, with Chifeng Gold leading at 141 million yuan [6] - Other notable net purchases included Zhengzhou Coal Electricity and Baotailong, each exceeding 40 million yuan [6] Company Announcements - China Mobile reported a net profit of 115.4 billion yuan for the first three quarters, a year-on-year increase of 4% [8] - Nidec reported a 41.21% year-on-year increase in net profit for the third quarter [8] - Various companies such as Keda Xunfei and Shenneng Power reported significant year-on-year profit growths of 202% and 56.69% respectively [10]