工业富联上半年业绩情况 范雨露 制图 ■从半年报看产业新活力 受益于AI发展 工业富联单季营收超2000亿元 ◎记者 李兴彩 8月10日晚，工业富联发布2025年半年报，公司上半年营收和利润实现快速增长，均创同期历史新高。 其中，公司第二季度首次实现了单个季度营收超过2000亿元。 进一步研究可知，工业富联业绩快速增长的最大驱动力是人工智能（AI）。公司披露，得益于AI发 展，公司的云计算业务、通信及移动网络设备业务、精密零部件业务等均实现快速增长。 单季营收超2000亿元 在云计算业务方面，报告期内，工业富联产品结构持续优化，AI服务器在云计算业务中的占比稳步扩 大。其中，第二季度公司整体服务器营收增长超50%，云服务商服务器营收同比增长超150%，AI服务 器营收同比增长超60%。 AI是增长最大驱动力 工业富联半年报显示，公司上半年实现营业收入3607.6亿元，同比增长35.58%；实现归母净利润121.13 亿元，同比增长38.61%，均创同期历史新高。 尤其是，公司单个季度营收首次超过2000亿元大关。 结合一季报可知，工业富联第二季度实现营业收入达2003.45亿元，同比增长35.92%；实现归母 ...

Core Insights - Industrial Fulian reported a strong performance in the first half of 2025, with revenue reaching 360.76 billion yuan, a year-on-year increase of 35.6%, and a net profit of 12.11 billion yuan, up 38.6%, both hitting historical highs for the period [2] - In Q2 2025, the company achieved revenue exceeding 200 billion yuan for the first time, totaling 200.34 billion yuan, a 35.9% increase year-on-year, with net profit rising to 6.88 billion yuan, up 51.1% [2] - The global tech industry is rapidly restructuring due to the AI wave, significantly boosting Industrial Fulian's core business and leading to a simultaneous increase in order scale and value [2] Cloud Computing Business - Major global cloud service providers continue to expand capital expenditures on AI infrastructure, with sustained high demand for AI computing power [2] - In Q2, overall server revenue for Industrial Fulian grew by over 50%, with revenue from cloud service provider servers increasing by over 150%, and AI server revenue rising by over 60% year-on-year [2] GB200 Series Products - The GB200 series products have entered mass production, with improving yield rates and increasing shipment volumes quarter by quarter [2] - The company is collaborating with clients to advance the design and development of next-generation products, maintaining a leading position in industry chain coverage and delivery capabilities [2] Communication and Mobile Network Equipment - In the first half of 2025, Industrial Fulian's global data center network architecture is evolving towards higher bandwidth and lower latency to meet the growing performance demands of AI model training and inference [3] - The deployment of AI accelerator clusters has seen significant growth, with revenue from 800G high-speed switches nearly tripling compared to the entire year of 2024 [3] - The demand for high-end mobile devices has structurally recovered, benefiting the company's precision components business, which saw a 17% year-on-year increase in shipment volume due to the popularity of specific models [3]

据了解，2025年上半年，全球科技产业在AI浪潮中加速重构，带动工业富联核心业务强势增长，实现 订单规模与价值量同步跃升。 8月10日晚间，工业富联（601138）发布的2025年半年报显示，受益于AI相关业务强势增长，上半年工 业富联实现营收3607.6亿元，同比增长35.6%，实现归母净利润121.1亿元，同比增长38.6%，均创同期 历史新高。 其中，公司第二季度单季营收首次超过2000亿元，达2003.4亿元，同比增长35.9%；净利润为68.8亿 元，同比增长51.1%，均创下同期历史新高。 通信及移动网络设备方面，2025年上半年工业富联全球数据中心网络架构持续向更高带宽、更低延迟演 进，以积极响应AI大模型训练与推理对网络性能的急剧增长。尤其是在AI加速器集群部署方面，其高 速交换机已成为市场增长亮眼的细分领域，800G高速交换机营收较2024全年增长近三倍。 与此同时，AI手机推动高端换机潮，终端需求结构性复苏。受益于客户某些特定机种的热销，工业富 联精密机构件业务出货量同比增长17%。 云计算业务方面，全球多家大型云服务商对AI基础设施建设资本开支延续扩张趋势，AI算力投入持续 火热。工业富 ...

格隆汇8月10日丨工业富联(601138.SH)发布2025年半年度报告，公司上半年实现营业收入3607.60亿元， 同比增长35.58%；归属于上市公司股东的净利润为121.13亿元，同比增长38.61%。第二季度公司整体服 务器营收增长超50%，云服务商服务器营收同比增长超150%，AI服务器营收同比增长超60%。GB200系 列产品实现量产爬坡，良率持续改善，出货量逐季攀升。交换机业务方面，上半年800G高速交换机营 收较2024全年增长近三倍。 ...

Group 1: Major Asset Restructuring and Control Changes - Kaipu Cloud (688228) is planning a significant asset restructuring and will be suspended from trading starting August 11, 2025 [2] - Jiachuan Vision's control will change from Chen Kunjian to Mao Guangfu and Li Li, with the resumption of trading on August 11, 2025 [2][3] - Hangzhou High-tech's controlling shareholder will transfer 19.03% of shares to Beijing Jirong Weiye Energy Technology Co., Ltd. for a total of 495 million yuan [2][3] - Qidi Pharmaceutical's controlling shareholder will transfer 58,606,962 shares to Hunan Sailoxian, resulting in a change of control [3] Group 2: Companies Planning to List in Hong Kong - Wanxing Technology plans to issue H-shares and list on the Hong Kong Stock Exchange to enhance its global strategy [4] - Puyuan Precision plans to issue H-shares and list on the Hong Kong Stock Exchange, considering the interests of existing shareholders [4] - Kefu Medical intends to issue H-shares and apply for listing on the Hong Kong Stock Exchange, also considering existing shareholders' interests [4] Group 3: Investment and Acquisitions - Wantong Development is planning to invest 854.44 million yuan to acquire 62.98% of Shuduo Technology, which will become a subsidiary [5][6] - Shiyun Circuit plans to invest 125 million yuan in Shenzhen New Sound Semiconductor, acquiring 3.8238% of its shares [7] Group 4: Financial Performance Highlights - Industrial Fulian reported a revenue of 360.76 billion yuan for the first half of 2025, a 35.58% increase year-on-year, with a net profit of 12.113 billion yuan, up 38.61% [9] - Yanjing Beer achieved a revenue of 8.558 billion yuan, a 6.37% increase, and a net profit of 1.103 billion yuan, up 45.45% [9] - Changqing Co. reported a revenue of 2.083 billion yuan, a 7.28% increase, and a net profit of 42.78 million yuan, up 117.75% [9] - Shuangyi Technology reported a revenue of 525 million yuan, a 44.57% increase, and a net profit of 99.87 million yuan, up 324.5% [9]

8月10日晚，工业富联发布2025年半年度报告，受益于AI相关业务强势增长，公司上半年营收、净利润均创下同期新高。 上半年，公司实现营收3607.6亿元，同比增长35.6%；实现净利润121.13亿元，同比增长38.6%。其中，公司第二季度单季营收首次超过2000亿元，达 2003.45亿元，同比增长35.9%；净利润为68.86亿元，同比增长51.1%。第二季度，公司营收、净利润数据也均创下同期历史新高。 | 主要财务指标 | 本报告期 | 上年同期 | 本报告期比上年同期 | | --- | --- | --- | --- | | | (1-6月) | | 增减(%) | | 基本每股收益(元/股) | 0.61 | 0.44 | 38.64 | | 稀释每股收益(元/股) | 0.61 | 0.44 | 38.64 | | 扣除非经常性损益后的基本每股 | 0.59 | 0.43 | 37.21 | | 收益(元/股) | | | | | 加权平均净资产收益率(%) | 7.64 | 6.02 | 增加1.62个百分点 | | 扣除非经常性损益后的加权平均 净资产收益率(%) | 7.36 | 5.88 ...

8月10日晚，工业富联(601138.SH)发布2025年半年度报告，受益于AI相关业务强势增长，上半年工业富 联实现营收3607.6亿元，同比增长35.6%，实现归母净利润121.1亿元，同比增长38.6%，均创同期历史 新高。 连续三年分红金额超百亿 户均持股市值超136万元 第二季度工业富联单季营收首次超过2000亿元，达2003.4亿元，同比增长35.9%；净利润为68.8亿元， 同比增长51.1%，均创下同期历史新高。 截至8月8日收盘，工业富联市值超7000亿元。 | 36.59 +0.94 +2.64% | | | | | 工业富联 1 | 立即 | | --- | --- | --- | --- | --- | --- | --- | | | | | | | 601138 父易 | | | SSE CNY 15:00:01 闭市 | | | | | | 通融 / △ + | | 委比 | 61.02% 委差 | 4621 | Wind ESG评级 AA | | | 详情 | | 卖五 | 36.64 | 304 | 之生 | 73.52% 120日 | | 68.81% | | On Holl ...

8月10日晚，工业富联(601138.SH)发布2025年半年度报告，受益于AI相关业务强势增长，上 半年工业富联实现营收3607.6亿元，同比增长35.6%，实现归母净利润121.1亿元，同比增长 38.6%，均创同期历史新高。 第二季度工业富联单季营收首次超过2000亿元，达2003.4亿元，同比增长35.9%；净利润为 68.8亿元，同比增长51.1%，均创下同期历史新高。 截至8月8日收盘，工业富联市值超7000亿元。 | SSE CNY 15:00:01 闭市 | | | | | | 退 | | --- | --- | --- | --- | --- | --- | --- | | 委比 | 61.02% 委差 | 4621 | | Wind ESG评级 AA | | 详情 | | 卖五 | 36.64 | 304 | 之生 | 73.52% 120日 | | 68.81% | | 交 / 求人 | 36.63 | 290 | 5日 | 10.88% 250日 | | 61.13% | | 卖三 | 36.62 | 380 | 20日 | 43.49% 52周高 | | 37.64 | | 卖二 | ...

看公告，小e抢先报！ 8月10日晚间上市公司公告精选： 佳创视讯：实控人拟变更为毛广甫与李莉夫妇，8月11日复牌。 世运电路：拟1.25亿元增资新声半导体，取得3.82%股权。 春光科技：拟不超10亿元新建年产清洁电器制品800万台项目。 长青股份：上半年净利润4227.78万元，同比增长117.75%。 燕京啤酒：上半年净利润11.03亿元，同比增长45.45%。 工业富联：上半年净利润121.13亿元，同比增长38.61%。 佰维存储：上半年净亏损2.26亿元，拟回购公司股份。 路维光电：实控人杜武兵等承诺6个月内不减持。 硅宝科技：部分高管拟合计减持股份不超7.73万股。 利扬芯片：部分股东拟合计减持公司不超3.94%股份。 龙利得：滁州浚源拟减持公司不超1.9%股份。 银宝山新：布拉德投资拟减持公司不超1.54%股份。 泰坦股份：不提前赎回"泰坦转债"。 *ST赛隆：因公司控制权已变更，董事长及部分高管辞职。 责编：陈丽湘 ...

Group 1 - The core viewpoint of the report is that Industrial Fulian (601138.SH) is given a "buy" rating due to strong growth prospects driven by AI computing demand and expanding cloud computing business advantages [2] - AI computing demand is expected to drive significant revenue growth for the company [2] - There is an explosive demand for network equipment, particularly for high-speed switches, which is anticipated to accelerate [2] Group 2 - The report highlights the potential risks associated with the investment, including the possibility that AI development may not meet expectations [2] - Macroeconomic fluctuations are also noted as a risk factor that could impact performance [2] - Short-term stock price volatility is mentioned as another risk to consider [2]