【#工业富联预计2025年日赚近1亿#】工业富联1月28日公告，预计公司2025年全年实现归属于母公司所 有者的净利润351亿元到357亿元，与上年同期相比，增加119亿元到125亿元，同比上升51%到54%。 （每经，德塔） ...

证券日报网讯 1月28日，工业富联发布公告称，公司预计2025年全年实现归属于母公司所有者的净利润 351亿元到357亿元，与上年同期相比，增加119亿元到125亿元，同比上升51%到54%。 （文章来源：证券日报） ...

Core Viewpoint - Industrial Fulian (601138) expects a significant increase in net profit for Q4 2025 and the entire year, driven by strong growth in cloud computing and communication equipment sectors [1][2][3] Financial Performance - The company anticipates a net profit of 126 billion to 132 billion yuan for Q4 2025, representing a year-on-year increase of 56% to 63% [1][2] - For the full year 2025, the expected net profit is between 351 billion and 357 billion yuan, reflecting a year-on-year growth of 51% to 54% [1][2] Cloud Computing Business - In 2025, revenue from cloud service provider servers is projected to grow over 1.8 times year-on-year [1][2] - For Q4 2025, the revenue from cloud service provider servers is expected to increase by over 30% quarter-on-quarter and more than 2.5 times year-on-year [1][2] - AI server revenue from cloud service providers is forecasted to grow over 3 times year-on-year in 2025, with a quarterly growth of over 50% and a year-on-year increase of more than 5.5 times for Q4 2025 [1][2] Communication and Mobile Network Equipment - The revenue from 800G and above high-speed switch business is expected to increase by 13 times year-on-year in 2025 [3] - For Q4 2025, the revenue from 800G and above high-speed switches is projected to grow by over 4.5 times year-on-year [3] - The precision components business is expected to achieve double-digit growth in shipment volume compared to the previous year, reinforcing the foundation for the company's diversified business development [3]

消息面上，工业富联在1月28日盘后发布业绩预增公告称，预计公司2025年全年的归母净利润为351亿元 至357亿元，同比增长51%至54%。 【导读】工业富联登上热股飙升榜首位，2025年平均日赚或达1亿元 1月28日盘后，工业富联（601138）登上热股飙升榜首位、热搜榜第二位。 单季度主业净利润首超100亿元 对于2025年全年业绩预增，工业富联着重提及云计算业务的变化，并且提及"公司产品结构持续优化， AI服务器增长势头持续强劲"。 工业富联在2025年第三季度，首次实现单季度归母净利润超100亿元，达103.73亿元，但扣非后净利润 未能超100亿元，为99.89亿元。 2025年第四季度，工业富联将取得单季度归母净利润、扣非后净利润均超100亿元的成绩。 公告显示，工业富联预计其2025年第四季度的归母净利润为126亿元至132亿元，同比增长56%至63%； 扣非后净利润为124亿元至130亿元，同比增长43%至50%。 对比2024年全年，工业富联的归母净利润、扣非后净利润分别为232亿元、234亿元。 以此估算，工业富联在2025年第四季度的归母净利润、扣非后净利润，均超2024年全年的50%。 ...

Group 1 - The article highlights a significant surge in gold prices, with a rare "apocalyptic rise" pushing prices above $5,200 and $5,300, marking a single-day increase of over $100 [3] - UBS reports that since December 2025, at least 75% of gold price fluctuations are attributed to U.S. policy changes, with a model indicating that 68% of gold price movements since January 2025 are due to U.S. policy changes, increasing to 76% since December 2025 [5] - The article notes that the impact of policy factors may still be underestimated, with significant market structure changes linked to threats against the independence of the Federal Reserve [6] Group 2 - The dye industry is experiencing price increases, with core intermediates for disperse dyes rising by 50% this year due to environmental inspections and rising raw material costs [8] - Key companies in the dye sector include Zhejiang Longsheng, Guotu Co., Jihua Group, Yabong Co., and Annuoqi, all benefiting from price increases and improved market concentration [9] - Agricultural stocks are also noted, with corn and wheat prices rising, indicating strong expectations for international grain prices amid a backdrop of U.S. interest rate cuts and declining inventory ratios [8] Group 3 - The article discusses the performance of various commodities, with copper prices increasing by 15.4% over the past week and 113.8% over the past quarter, while the Baltic Dry Index has decreased by 11.5% over the past quarter [10] - The storage chip sector is highlighted, with companies like Micron and Seagate experiencing significant stock price increases, and price hikes of 15% to 80% announced for various storage products [13][21] - The article mentions that the first quarter is typically a favorable time for price increases, with expectations for further price signals as the spring construction season approaches [11]

Core Viewpoint - Industrial Fulian expects significant profit growth for the fiscal year 2025, driven by strong performance in cloud computing and communication equipment sectors [1][2]. Group 1: Financial Performance - The company anticipates a net profit of 126 billion to 132 billion yuan for Q4 2025, representing an increase of 45 billion to 51 billion yuan, or a year-on-year growth of 56% to 63% [1]. - For the entire year of 2025, the expected net profit is between 351 billion to 357 billion yuan, an increase of 119 billion to 125 billion yuan, translating to a year-on-year growth of 51% to 54% [1]. - The net profit excluding non-recurring items for Q4 2025 is projected to be 124 billion to 130 billion yuan, reflecting a year-on-year increase of 43% to 50% [1]. - The full-year net profit excluding non-recurring items is expected to be 340 billion to 346 billion yuan, indicating a year-on-year growth of 45% to 48% [1]. Group 2: Business Growth Drivers - In the cloud computing sector, server revenue from cloud service providers is expected to grow over 1.8 times year-on-year in 2025, with a quarterly growth of over 30% in Q4 [2]. - AI server revenue from cloud service providers is projected to increase over three times year-on-year in 2025, with a quarterly growth of over 50% in Q4 [2]. - The high-speed switch business in communication and mobile network equipment is expected to see a revenue increase of 13 times year-on-year for 800G and above switches in 2025, with a quarterly growth of over 4.5 times in Q4 [2]. - The precision components business is expected to achieve double-digit growth in shipment volume year-on-year in 2025, supported by mature technology and a stable customer supply chain [2]. Group 3: Recent Performance and Stock Movement - In Q3 2025, the company reported revenue of 2,431.72 billion yuan, a year-on-year increase of 42.81%, with net profit surpassing 100 billion yuan for the first time at 103.73 billion yuan, marking a 62.04% increase [3]. - The cloud computing business showed strong performance in Q3, with revenue growth exceeding 75%, particularly in the cloud service provider segment, which grew over 2.1 times year-on-year [3]. - Despite strong financial results, the company's stock price has declined by 27.36% from its peak of 83.55 yuan on October 30, 2025, closing at 60.69 yuan on January 28, 2026 [3].

★ 宏观动态 ★ 外交部：2026年APEC第一次高官会将在广州举行 1月28日，外交部发言人郭嘉昆主持例行记者会。有记者就今年2月将在广州举办的亚太经合组织第一次高官会 筹备情况提问。郭嘉昆表示，APEC高官会是为领导人会议准备成果的主渠道，每年举办4—5次。中国作为 2026年APEC东道主，将于2月1日至10日在广州举办APEC第一次高官会及相关会议。这是APEC中国年首场正 式活动。 国家能源局：截至2025年底全国累计发电装机容量38.9亿千瓦，同比增长16.1% 国家能源局发布2025年全国电力统计数据。截至2025年底，全国累计发电装机容量38.9亿千瓦，同比增长 16.1%。其中，太阳能发电装机容量12.0亿千瓦，同比增长35.4%；风电装机容量6.4亿千瓦，同比增长22.9%。 2025年，全国6000千瓦及以上电厂发电设备累计平均利用3119小时，比上年同期减少312小时。 上金所调整白银延期合约保证金水平和涨跌停板 上金所公告，根据《上海黄金交易所风险控制管理办法》的有关规定，我所对白银延期合约交易保证金水平和 涨跌停板比例进行调整。现将相关事项通知如下：自2026年1月30日（星期五） ...

Financial Performance - The company expects to achieve a net profit attributable to shareholders of 12.6 billion to 13.2 billion yuan in Q4 2025, an increase of 4.5 billion to 5.1 billion yuan compared to the same period last year, representing a year-on-year growth of 56% to 63% [1] - For the full year of 2025, the company anticipates a net profit attributable to shareholders of 35.1 billion to 35.7 billion yuan, an increase of 11.9 billion to 12.5 billion yuan compared to the previous year, reflecting a year-on-year growth of 51% to 54% [1] Cloud Computing Business - In 2025, revenue from cloud service provider servers is expected to grow by over 1.8 times year-on-year; in Q4 2025, revenue from cloud service provider servers is projected to increase by over 30% quarter-on-quarter and over 2.5 times year-on-year [1] - The company’s AI server revenue from cloud service providers is expected to grow by over 3 times year-on-year in 2025; in Q4 2025, AI server revenue is anticipated to increase by over 50% quarter-on-quarter and over 5.5 times year-on-year [1] Communication and Mobile Network Equipment - The company’s high-speed switch business continues to show strong growth, achieving significant development against the backdrop of high growth in the same period of 2024; in 2025, revenue from 800G and above high-speed switches is expected to increase by 13 times year-on-year [2] - In Q4 2025, revenue from 800G and above high-speed switches is projected to grow by over 4.5 times year-on-year [2] - The precision components business is expected to achieve steady performance improvement due to mature technology reserves and a stable customer supply system, with a double-digit growth in shipment volume compared to the previous year in 2025 [2]

Core Viewpoint - The company, Industrial Fulian, anticipates significant growth in net profit for the fourth quarter of 2025 and the entire year, driven by strong performance in cloud computing and communication equipment sectors [1][2]. Group 1: Financial Projections - The company expects net profit attributable to shareholders for Q4 2025 to be between 12.6 billion to 13.2 billion yuan, an increase of 4.5 billion to 5.1 billion yuan compared to the same period last year, representing a year-on-year growth of 56% to 63% [1] - For the full year 2025, the projected net profit is between 35.1 billion to 35.7 billion yuan, an increase of 11.9 billion to 12.5 billion yuan year-on-year, reflecting a growth of 51% to 54% [1] Group 2: Cloud Computing Business - In 2025, revenue from cloud service provider servers is expected to grow over 1.8 times year-on-year; for Q4 2025, the revenue is projected to increase over 30% quarter-on-quarter and over 2.5 times year-on-year [1] - The company anticipates that revenue from AI servers for cloud service providers will grow over 3 times year-on-year in 2025, with Q4 2025 revenue expected to increase over 50% quarter-on-quarter and over 5.5 times year-on-year [1] Group 3: Communication and Mobile Network Equipment - The company’s high-speed switch business is expected to continue its strong growth trajectory, with revenue from 800G and above high-speed switches projected to increase by 13 times year-on-year in 2025; for Q4 2025, revenue is expected to grow over 4.5 times year-on-year [2] - The precision components business is expected to achieve double-digit growth in shipment volume compared to the previous year, supported by mature technology reserves and a stable customer supply system, further solidifying the foundation for the company's diversified business development [2]

Group 1 - Industrial Fulian (601138.SH) expects a net profit attributable to shareholders of 35.1 billion to 35.7 billion yuan for the year 2025, an increase of 11.9 billion to 12.5 billion yuan compared to the previous year, representing a year-on-year growth of 51% to 54% [1] - In Q4, Industrial Fulian's net profit is projected to be between 12.6 billion to 13.2 billion yuan, an increase of 4.5 billion to 5.1 billion yuan year-on-year, reflecting a growth of 56% to 63% [1] - The revenue from 800G and above high-speed switch business is expected to grow by 13 times year-on-year in 2025, with Q4 revenue increasing over 4.5 times compared to the same period last year [1] - The revenue from AI servers for cloud service providers is anticipated to grow over 3 times year-on-year in 2025, with Q4 revenue increasing over 50% quarter-on-quarter and over 5.5 times year-on-year [1] Group 2 - Keda Xunfei (002230.SZ) forecasts a net profit attributable to shareholders of 785 million to 950 million yuan for 2025, representing a growth of 40% to 70% compared to the previous year [3] - The performance change is primarily due to the large-scale application of artificial intelligence, with the "Xunfei Spark" model accelerating its deployment in the consumer sector [3] - For Q3 2025, Keda Xunfei reported a net profit of 172 million yuan, leading to an estimated Q4 net profit of 852 million to 1.017 billion yuan, indicating a quarter-on-quarter growth of 394% to 490% [3]