证券代码：002396 证券简称：星网锐捷 公告编号：临 2025-31 福建星网锐捷通讯股份有限公司 关于增加 2025 年度日常关联交易预计额度的公告 本公司及董事会全体成员保证公告内容真实、准确和完整，不存在虚假记载、误导性陈 述或者重大遗漏。 一、日常关联交易基本情况 （一）关联交易概述 1、概述 福建星网锐捷通讯股份有限公司（以下简称"公司"）于2025年4月1日召开 第七届董事会第五次会议、2025年5月20日召开2024年年度股东大会，审议通过 了《关于确认2024年度日常关联交易及预计2025年度日常关联交易额度的议案》， 预计公司2025年度与关联方发生总金额不超过人民币124,615万元的日常关联交 易。具体内容详见公司于2025年4月3日刊登于《中国证券报》《证券时报》《证券 日报》《上海证券报》和巨潮资讯网(www.cninfo.com.cn)上的《关于确认2024 年度日常关联交易及预计2025年度日常关联交易额度的公告》（公告编号：临 2025-06）。 根据公司业务发展和生产经营的需要，公司及控股子公司拟新增与福建省海 峡星云信息科技有限公司（以下简称 "星云信息"）的日常关联交 ...

福建星网锐捷通讯股份有限公司 2025 年半年度财务报告 证券简称：星网锐捷 证券代码：002396 福建星网锐捷通讯股份有限公司 2025 年半年度财务报告 （未经审计） 融合创新科技，构建智慧未来 2025 年 08 月 1 福建星网锐捷通讯股份有限公司 2025 年半年度财务报告 财务报告 一、审计报告 1、合并资产负债表 编制单位：福建星网锐捷通讯股份有限公司 2025 年 06 月 30 日 单位：元 | 项目 | 期末余额 | 期初余额 | | --- | --- | --- | | 流动资产： | | | | 货币资金 | 2,385,105,487.18 | 2,957,966,343.84 | | 结算备付金 | | | | 拆出资金 | | | | 交易性金融资产 | 200,598,055.56 | 200,511,250.00 | | 衍生金融资产 | | | | 应收票据 | 15,871,055.68 | 90,429,325.65 | | 应收账款 | 3,978,558,947.42 | 3,124,375,862.13 | | 应收款项融资 | 39,766,812.94 | ...

一、监事会会议召开情况 证券代码：002396 证券简称：星网锐捷 公告编号：临2025-30 福建星网锐捷通讯股份有限公司 第七届监事会第六次会议决议公告 本公司及监事会全体成员保证公告内容真实、准确和完整，不存在虚假记载、误导性陈述 或者重大遗漏。 经与会监事签署的第七届第六次监事会会议决议。 特此公告。 福建星网锐捷通讯股份有限公司 监 事 会 2025 年 8 月 22 日 福建星网锐捷通讯股份有限公司（以下简称"公司"）第七届监事会第六次会议 通知于 2025 年 8 月 8 日以电子邮件方式发出，会议于 2025 年 8 月 20 日以现场会议 的方式在福建省福州市高新区新港大道 33 号星网锐捷科技园 22 层公司会议室召开。 本次会议由公司监事会主席徐燕惠女士召集并主持。应到监事三人，实到监事三人， 本次会议的召集、召开符合《中华人民共和国公司法》和《公司章程》的有关规定。 二、监事会会议审议情况 经与会监事认真审议，本次会议以现场记名投票表决方式表决通过了以下议案： 本次会议以3票赞成，0票反对，0票弃权的表决结果，审议通过《2025年半年度 报告及摘要》 经审核，监事会认为：公司董事会编制 ...

Group 1 - The A-share digital currency concept stocks collectively strengthened, with notable gains in several companies [1] - Xinzhisoft surged over 18%, while Xingwang Ruijie and Zhongke Jincai hit the 10% daily limit [1] - Other companies such as Dongxin He Ping and Guao Technology increased by over 9%, and Hengbao Co. rose by over 7% [1] Group 2 - Detailed stock performance includes: - Xinzhisoft: 18.46% increase, market cap of 7.138 billion [2] - Xingwang Ruijie: 10.01% increase, market cap of 18.8 billion [2] - Zhongke Jincai: 9.99% increase, market cap of 13.2 billion [2] - Dongxin He Ping: 9.62% increase, market cap of 20.2 billion [2] - Guao Technology: 9.00% increase, market cap of 4.326 billion [2] - Hengbao Co.: 7.48% increase, market cap of 22.1 billion [2] - Yinzhijie: 6.85% increase, market cap of 34.5 billion [2] - Airong Software: 6.29% increase, market cap of 13.4 billion [2] - Yingshisheng: 6.08% increase, market cap of 20.3 billion [2]

(责任编辑：宋政 HN002) 格隆汇8月18日｜A股通信设备板块持续走强，齐涨，中兴通讯(000063)一度触及涨停，仕佳光子、锐捷 网络涨超15%，星网锐捷(002396)、剑桥科技等跟涨。 【免责声明】本文仅代表作者本人观点，与和讯网无关。和讯网站对文中陈述、观点判断保持中立，不对所包含内容 的准确性、可靠性或完整性提供任何明示或暗示的保证。请读者仅作参考，并请自行承担全部责任。邮箱： news_center@staff.hexun.com ...

Group 1 - The core viewpoint highlights a significant rise in the stock prices of computing hardware companies, particularly in sectors like CPO and copper connections [1] - Tengjing Technology experienced a 20% limit-up in stock price, indicating strong market interest and investor confidence [1] - Other companies such as Dekeli, Ruijie Network, Yidong Electronics, and Zhongfu Circuit saw stock increases exceeding 10%, reflecting a broader positive trend in the industry [1] Group 2 - Fangzheng Technology also hit the limit-up, showcasing robust performance among technology stocks [1] - Companies like Xingwang Ruijie, Cambridge Technology, Bomin Electronics, Guangku Technology, and Shenglan Co. experienced stock price increases of over 5%, further indicating a bullish sentiment in the computing hardware sector [1]

Core Viewpoint - The investment logic in the computing power industry chain is shifting from a focus on AI chips to the exploration of specific segments within the industry [1][9]. Group 1: Market Performance and Trends - On August 14, Cambrian (688256.SH) saw its stock price surge over 14%, reflecting the optimistic expectations of the AI computing power industry [2]. - The performance of companies in the industry is mixed, with optical module manufacturers like NewEase (300502.SZ) expecting a net profit increase of up to 385.47% year-on-year, while domestic chip and server manufacturers show more modest growth [2]. - AI servers are projected to be the main growth driver in the server market, with significant increases in shipment volumes expected throughout the year [2][6]. Group 2: ODM Market Dynamics - According to IDC, the revenue from the "ODM Direct" model in the global server market is expected to grow by 155.5% year-on-year by Q4 2024, capturing 47.3% of the market share [4]. - Major cloud service providers like Amazon, Google, and Microsoft are driving this growth, with their combined capital expenditure plans for 2025 exceeding $340 billion (approximately 2.5 trillion RMB) [5]. Group 3: Segment-Specific Growth - High-speed optical modules are benefiting directly from the demand in the AI server market, with NewEase and Zhongji Xuchuang both forecasting substantial profit increases [6]. - Data center switch manufacturers are also experiencing growth, with companies like Ruijie Networks (301165.SZ) expecting net profit increases of 160.11% to 231.64% [7]. - Memory interface chip demand is rising, with companies like Lanke Technology (688008.SH) projecting significant revenue growth due to the AI industry trend [7]. Group 4: High-End AI Components - High Bandwidth Memory (HBM) is a critical component in AI training chips, with Nvidia consuming over 60% of the HBM market [8]. - The HBM market is experiencing a supply-demand imbalance, leading to a forecasted price increase of 5% to 10% by 2025 [8]. Group 5: Domestic Computing Power Landscape - Domestic computing power demand is shifting from supply issues to strategic concerns, with a notable decrease in the share of externally sourced chips in the AI server market [12]. - Haiguang Information reported a revenue increase of 45.21% year-on-year, focusing on general processors and co-processors for AI applications [12][13]. - The integration of Haiguang Information and Zhongke Shuguang aims to enhance the competitiveness of domestic computing power [13]. Group 6: Future Outlook and Challenges - By 2030, it is predicted that China's share of global semiconductor mature process capacity will reach 48%, with a compound annual growth rate of 18.8% for 12-inch wafer capacity [14]. - Despite current challenges, companies like China Mobile (600941.SH) are continuing to invest heavily in AI, with capital expenditures reaching 584 billion RMB [14]. - The transition from general-purpose AI models to specialized tools requires significant adaptation and engineering efforts, emphasizing the need for a robust domestic computing foundation [15].

Group 1 - The A-share market saw a surge in digital currency concept stocks, with Hengbao Co., Ltd. hitting the daily limit, and Xinyuan Co., Ltd. rising nearly 9% [1] - Other notable gainers included Xiongdi Technology with over 7% increase, and companies like StarNet Ruijie, Cuiwei Co., Ltd., and Sifang Chuangxin all rising over 6% [1] - The overall market performance indicates a positive trend in the digital currency sector, as evidenced by the MACD golden cross signal formation [2] Group 2 - Hengbao Co., Ltd. had a price increase of 10% with a total market capitalization of 15.8 billion [2] - Xinyuan Co., Ltd. increased by 8.91% with a market cap of 56.6 billion, while Xiongdi Technology rose by 7.26% with a market cap of 5.595 billion [2] - Other companies such as StarNet Ruijie and Sifang Chuangxin also showed significant year-to-date gains of 62.22% and 151.78% respectively [2]

Core Viewpoint - The article emphasizes that the computing power industry is experiencing significant growth driven by the digitalization wave and AI revolution, with many companies reporting impressive earnings in the first half of 2025 [1][3]. Group 1: Earnings Performance - As of August 8, 2025, 11 companies in the computing power theme index have forecasted net profit growth exceeding 39%, with Yongding Co. leading at a staggering 922% increase [2]. - Notable companies such as Xinyi Technology and Lanke Technology reported net profit growth rates of over 300% [2]. - The semiconductor and high-speed optical module sectors are experiencing a positive cycle of "technological breakthroughs—product volume—performance realization," with some companies achieving record quarterly profits [2]. Group 2: Semiconductor Industry - The global semiconductor market reached $346 billion in the first half of 2025, reflecting an 18.9% year-on-year growth, indicating strong industry vitality [6]. - Companies like Lanke Technology are expected to achieve approximately 2.633 billion yuan in revenue, a 58.17% increase year-on-year, driven by high demand for AI-related products [6]. - Lanke Technology's net profit is projected to grow by 85.5% to 102.36% year-on-year, attributed to increased sales of DDR5 memory interface chips and high-performance chips [6][7]. Group 3: Optical Module Demand - The demand for high-speed optical modules is surging due to the expansion of data centers and the deployment of 5G networks [9]. - Companies like Zhongji Xuchuang are expected to report net profits between 3.6 billion to 4.4 billion yuan, reflecting a year-on-year growth of 52.64% to 86.57% [10]. - New Yi Sheng anticipates a net profit of 3.7 billion to 4.2 billion yuan, marking a growth of 327.68% to 385.47% [11]. Group 4: Liquid Cooling Market - The liquid cooling market is projected to grow at a compound annual growth rate of 59% from 2022 to 2027, with the market size expected to exceed 100 billion yuan by 2027 [15]. - Companies like Huazheng New Materials and Zhongshi Technology are forecasting significant profit increases due to market expansion and improved product offerings [16]. - Conversely, some companies like Jialitu are experiencing profit declines due to falling sales prices and rising costs [16]. Group 5: Overall Industry Outlook - The performance of the computing power industry in the first half of 2025 highlights the technological explosion of the AI era and the acceleration of domestic substitution [16]. - The entire industry chain, from semiconductors to optical modules and cooling technologies, is providing robust support for the global digitalization process [16]. - As demand for computing power continues to rise, innovation and efficiency will become central themes for the future [17].

Group 1 - The stock price of Xingwang Ruijie closed at 27.29 yuan on August 5, 2025, down 0.84% from the previous trading day [1] - The company reported a trading volume of 119,617 hands and a transaction amount of 326 million yuan on the same day [1] - Xingwang Ruijie specializes in the research, production, and sales of network communication equipment and solutions, including switches, routers, and network security devices [1] Group 2 - The company is involved in various sectors such as communication equipment, Internet of Things (IoT), and mobile payments [1] - For the first half of 2025, Xingwang Ruijie expects a net profit attributable to shareholders of 180 million to 240 million yuan, representing a year-on-year growth of 43.81% to 91.75% [1] - This profit forecast has attracted significant market attention [1] Group 3 - On August 5, the net outflow of main funds was 10.4048 million yuan, accounting for 0.07% of the circulating market value [1] - However, over the past five days, the main funds have shown a net inflow, totaling 40.6122 million yuan, which is 0.26% of the circulating market value [1]