第一条 为加强福建星网锐捷通讯股份有限公司（以下简称"公司"）市值管理， 切实推动公司投资价值提升，增强投资者回报，维护投资者利益，根据《中华人 民共和国公司法》《中华人民共和国证券法》《上市公司信息披露管理办法》《上 市公司监管指引第10号——市值管理》等法律法规、规范性文件和《福建星网锐 捷通讯股份有限公司章程》等规定，制定本制度。 第二条 本制度所称市值管理，是指公司以提高上市公司质量为基础，为提升投 资者回报能力和水平而实施的战略管理行为。其中公司质量是公司投资价值的基 础和市值管理的重要抓手。 第二章 市值管理的目的与基本原则 第三条 公司在开展市值管理过程中，应当牢固树立回报股东意识，采取措施保 护投资者尤其是中小投资者利益，诚实守信、规范运作、专注主业、稳健经营， 推动经营水平和发展质量提升，并在此基础上做好投资者关系管理，提高信息披 露质量和透明度，必要时积极采取措施提振投资者信心，推动公司投资价值合理 反映公司发展。 第四条 市值管理的基本原则包括： （一）合规性原则：公司应当在严格遵守相关法律法规、规范性文件、自律监管 规则以及《公司章程》等内部规章制度的前提下开展市值管理工作。 福建星网 ...

Financial Performance - The company's revenue for Q1 2025 reached ¥3,485,073,054.21, representing an increase of 11.02% compared to ¥3,139,013,847.42 in the same period last year[5] - Net profit attributable to shareholders was ¥42,121,433.26, a significant increase of 264.63% from ¥11,551,866.79 in the previous year[5] - The net profit after deducting non-recurring gains and losses surged to ¥29,508,952.72, up 8,829.05% from ¥330,482.57 year-on-year[5] - Basic earnings per share increased to ¥0.0726, reflecting a growth of 264.82% compared to ¥0.0199 in the same period last year[5] - The company reported a significant increase in investment income, which rose to ¥5,110,602.19, a 731.63% increase from a loss of ¥809,111.95 in the same period last year[9] - The company reported a net profit for the current period of 111,747,091.11 CNY, compared to 24,277,976.17 CNY in the previous period, indicating a significant increase[20] - The total comprehensive income attributable to the parent company was 42,185,979.90 CNY, compared to 10,850,502.75 CNY in the previous period[20] - The company recorded an operating profit of 60,878,191.49 CNY, a turnaround from an operating loss of -34,561,607.24 CNY in the previous period[20] - The company reported a total profit of 66,775,880.31 CNY, compared to a total loss of -35,178,201.51 CNY in the previous period, showing a significant recovery[20] Assets and Liabilities - The total assets at the end of the reporting period were ¥16,560,755,772.87, a slight increase of 0.19% from ¥16,528,583,768.68 at the end of the previous year[5] - The total liabilities decreased to ¥6,906,836,981.93 from ¥7,000,625,172.42, a reduction of 1.33%[17] - Cash and cash equivalents decreased to ¥2,188,984,328.44 from ¥2,957,966,343.84, a decline of 26.00%[16] - Inventory increased significantly to ¥5,397,066,772.36, up 20.73% from ¥4,470,351,441.90[16] - Short-term borrowings increased by 36.99% to ¥2,337,708,266.97 from ¥1,706,430,044.84 at the beginning of the year, primarily due to increased short-term bank loans from subsidiaries[9] Cash Flow - The company's cash flow from operating activities showed improvement, with a net outflow of ¥1,051,137,672.40, a reduction of 44.68% compared to the outflow of ¥1,900,247,172.61 in the previous year[5] - Net cash flow from operating activities decreased by 44.68% year-on-year, amounting to ¥1,051,137,672.40[10] - Net cash flow from investing activities improved by 115.50% year-on-year, reaching ¥41,037,877.43, mainly due to the recovery of investments and reduced cash outflows for fixed assets[10] - Net cash flow from financing activities decreased by 74.54% year-on-year, totaling ¥296,647,987.79, primarily due to reduced short-term bank borrowings from subsidiaries[10] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 61,154[12] - The largest shareholder, Fujian Electronic Information (Group) Co., Ltd., holds 26.26% of shares, totaling 154,551,950 shares[12] - The second-largest shareholder, Hong Kong Central Clearing Limited, holds 6.38% of shares, totaling 37,549,016 shares[12] - The company has no preferred shareholders with restored voting rights[12] - There are no significant changes in the shareholding structure of the top ten shareholders compared to the previous period[13] Operating Costs - Total operating revenue for the current period reached ¥3,485,073,054.21, an increase of 11.03% compared to ¥3,139,013,847.42 in the previous period[19] - Total operating costs amounted to ¥3,458,959,179.35, up from ¥3,250,652,960.79, reflecting a growth of 6.41%[19] - Research and development expenses were ¥502,118,035.40, slightly down from ¥529,208,196.05, indicating a decrease of 5.13%[19] Investment and Impairment - The fair value gains from investments amounted to ¥444,416.78, a 118.60% increase compared to a loss of ¥2,388,710.74 in the previous year[9] - The company recorded an asset impairment loss of ¥42,804,710.91, which is a 251.14% increase from ¥12,190,090.83 in the same period last year, primarily due to increased inventory write-downs[9] - Asset disposal income increased by 99.85% year-on-year, reaching ¥1,107,011.03[10] - Non-operating income rose by 269.42% year-on-year, totaling ¥8,171,740.65, primarily due to compensation and penalty payments received[10]

星网锐捷（002396）公告，2025年第一季度营收为34.85亿元，同比增长11.02%；净利润为4212.14万 元，同比增长264.63%。 ...

证券代码：002396 证券简称：星网锐捷 公告编号：临2025-14 福建星网锐捷通讯股份有限公司 关于参加2025年福建辖区上市公司投资者 本次活动将采用网络远程的方式举行，投资者可登录"全景路演"网站 （http://rs.p5w.net），或关注微信公众号：全景财经，或下载全景路演APP，参 与本次互动交流，活动时间为2025年5月14日（星期三）15:30至17:00。届时公司 高管将在线就公司2024年度业绩、公司治理、发展战略、经营状况、融资计划、股 权激励和可持续发展等投资者关心的问题，与投资者进行沟通与交流，欢迎广大投 资者踊跃参与！ 特此公告！ 福建星网锐捷通讯股份有限公司 董 事 会 2025年4月29日 网上集体接待日活动的公告 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。 为进一步加强与投资者的互动交流，福建星网锐捷通讯股份有限公司（以下简 称"公司"）将参加由福建证监局指导，福建省上市公司协会主办与深圳市全景网 络有限公司联合举办的"2025年福建辖区上市公司投资者网上集体接待日活动"， 现将相关事项公告如下： ...

2025年04月23日，星网锐捷2024年度业绩说明会在全景网顺利举行。出席本次业绩说明会的人员有董事 长阮加勇、副总经理、财务总监、董事会秘书李怀宇、独立董事谢帮生。 根据全景数据后台统计，在今天的交流过程中，来自全国多个省、市地区的投资者共向上市公司提问13 个，公司嘉宾共回答问题13个，答复率100.00%，充分实现了上市公司与投资者的良好互动。 以下为业绩说明会问答实录： 1、问：如何看待新兴技术，如人工智能和区块链，在智能通讯和娱乐领域的应用，并计划如何利用这 些技术？【征集问题】 回答：尊敬的投资者您好，星网锐捷作为国内领先的ict基础设施和ai应用服务商，近年来持续加强在在 以数据中心交换机、光通信设备为代表的网络通信基础设施，以及信创产业、数字文娱、智慧空间、智 能制造等业务创新。公司在AI基础设施和AI应用方面提供产品和相应的解决方案。公司密切关注与公 司主营业务相关技术及应用领域的发展及应用，同时根据自身的实际情况制定相应的发展战略。谢谢您 的关注。 2、问：领导，您好！我来自四川大决策请问：公司在 AI 与现有业务融合，有哪些新的布局和举措？ 【征集问题】 回答：公司提出了"一体三翼四引 ...

Group 1: Business Strategy and Innovations - The company has proposed a development strategy called "One Body, Three Wings, and Four Engines," aiming to become a world-class ICT infrastructure and AI application solution provider, targeting to be among the top three in the ICT infrastructure sector [1] - The company is focusing on AI integration, with plans to launch AI-related applications and establish its own industry model platform [1] - The "AIGC Quantitative Analysis Platform" advanced to the finals of the 2025 Digital China Innovation Competition, showcasing the company's commitment to AI innovation [1] Group 2: Supply Chain Management - The company has implemented a strict supplier evaluation and management system, utilizing a diversified procurement strategy to reduce reliance on single suppliers, ensuring procurement stability [2] - Current chip tariff issues have minimal impact on the company [2] Group 3: Market Performance and Financials - In 2024, the company achieved a total revenue of ¥16,758,313,911.83, a year-on-year increase of 5.35% [10] - Operating profit reached ¥550,614,854.80, reflecting a growth of 22.53% compared to the previous year [10] - Total profit amounted to ¥569,171,945.32, marking a 23.96% increase year-on-year, while net profit attributable to shareholders decreased by 4.76% to ¥404,620,959.25 [10] Group 4: Customer Base and Market Position - The company's network equipment products are widely used across various sectors, including government, telecommunications, finance, education, healthcare, and manufacturing [3] - According to IDC data, the company ranks first in market share for Ethernet switches in the domestic internet, education, and retail sectors, and also leads in data center switch market share in the internet and electronics manufacturing industries [3] Group 5: Future Growth Drivers - The company identifies AI integration, innovation in the trust-based industry, digital entertainment, smart spaces, and intelligent manufacturing as key drivers for future profit growth [5] - The company is closely monitoring emerging technologies like AI and blockchain to enhance its offerings in smart communications and entertainment [6]

Group 1 - The 5G sector is experiencing a significant rise, with stocks such as Shenglu Communication, Shuo Beid, and Wuhan Fanggu hitting the daily limit, and Chuangyuan Xinke increasing by 30% [1] - The largest 5G communication ETF (515050) has seen a rapid increase, with over 600 million yuan of net inflow in the last 10 trading days [1] - The Ministry of Industry announced plans to accelerate the research and development of 6G technology, including standard formulation and industrial implementation [1] Group 2 - The high growth momentum in the 5G communication sector is expected to continue, with several companies reporting positive Q1 earnings forecasts [2] - Companies like Ruijie Networks and Xingwang Ruijie are experiencing rapid growth in performance due to the deployment of AI foundational hardware [2] - The communication industry is showing confidence in its future prospects, as evidenced by multiple companies announcing share buyback or increase plans [2]

Group 1: Company Performance Overview - In 2024, the company achieved a total revenue of ¥16,758,313,911.83, representing a year-on-year growth of 5.35% [2] - Operating profit reached ¥550,614,854.80, an increase of 22.53% compared to the previous year [2] - Total profit amounted to ¥569,171,945.32, marking a growth of 23.96% year-on-year [2] - Net profit attributable to shareholders was ¥404,620,959.25, a decrease of 4.76% from the previous year [2] Group 2: Market Position and Product Segmentation - The company's network equipment revenue accounts for over 50% of total revenue, primarily driven by switch products [2] - The company holds a significant market share in the Chinese Ethernet switch market, with a ranking of 3rd [3] - In the data center switch market, the company also ranks 3rd, indicating strong competitive positioning [3] Group 3: Future Market Trends and Strategic Focus - The company anticipates a transformative period in the communication industry driven by AI, which will necessitate upgrades in communication infrastructure [3] - By 2025, the company plans to focus on ICT infrastructure and AI application solutions, including areas like the metaverse and smart manufacturing [4] - The company aims to enhance its overseas market presence, with international revenue projected to reach nearly ¥3.4 billion, accounting for 20% of total revenue in 2024 [4] Group 4: Challenges and Growth Factors - The company has experienced slower growth in recent years due to a combination of factors, including seasonal revenue fluctuations and project delivery timelines [3] - Increased demand from internet enterprises and growth in overseas business contributed to the 5.35% revenue increase in 2024 [3] - The company is focusing on customized solutions and addressing client needs in various sectors, including government, finance, and education [2]

Group 1: Macroeconomic Insights - In March 2025, exports increased significantly with a year-on-year growth rate of 12.4%, up from 2.3% in January-February, surpassing Bloomberg's consensus estimate of 4.6% [2] - The trade surplus for March reached $102.6 billion, contributing to a cumulative trade surplus of nearly 2 trillion RMB in the first quarter, which is an increase of approximately 600 billion RMB year-on-year [2] - The estimated contribution of external demand to actual GDP growth is projected to be 2.9 percentage points, potentially pushing the actual GDP year-on-year growth rate to 5% or higher [2] Group 2: Market Trends and Fund Flows - In the A-share market, there was a net outflow of financing funds close to 100 billion RMB last week, but the financing balance stabilized in the latter half of the week, indicating a potential market reversal [3] - The week saw significant inflows into broad-based ETFs, with net inflows reaching a record high since 2018, driven by institutional announcements of increased holdings [3] - The scale of share buybacks and capital increases reached new highs for 2025, indicating strong support for market stabilization [3] Group 3: Real Estate Sector Analysis - In 2024, the overall performance of domestic real estate companies was under pressure, with declines in both sales and land acquisition amounts, but the industry concentration increased, showing resilience among leading firms [12] - The main theme for 2025 is expected to be "steady operation and focus on core business," with a strategy of "sales-driven investment" to revitalize old inventory [12] - There is an anticipated increase in the proportion of operating profits for some real estate companies, alongside a continuous push for product quality upgrades [12] Group 4: Lithium Battery Materials Outlook - In 2024, capital expenditures for most lithium battery material companies declined year-on-year, with significant changes in supply-demand dynamics and profitability [13] - The report forecasts a tightening supply-demand situation for lithium iron phosphate and lithium hexafluorophosphate in the second half of 2025, leading to potential price increases [13] - Companies with cost or technological advantages in the supply chain are expected to see improvements in market share and profitability [13] Group 5: Company-Specific Performance - Shanghai Construction Group reported a revenue of 300.2 billion RMB for 2024, a slight decline of 1.45% year-on-year, but net profit increased by 39.2% [14] - Net profit for Guoyuan Securities reached 2.244 billion RMB in 2024, a year-on-year increase of 20%, driven by a 123% increase in investment income [15] - Net profit for NetEase Technology in 2024 was 675 million RMB, reflecting a 10.02% year-on-year increase, with expectations for accelerated growth in 2025 due to AI applications [15]

Core Viewpoint - The impressive performance growth forecast for StarNet Ruijie (002396.SZ) and Ruijie Network (301165.SZ) has generated significant attention in the A-share market, largely attributed to founder Huang Yihua's vision and leadership [1][3]. Company Overview - Huang Yihua, born in 1961 in a tech family, founded Fujian Shida Computer Co., Ltd. in 1988 with 15 partners, achieving rapid growth from 16 people to 1.6 billion [4][5]. - The company transitioned to network equipment in 2000, rebranding as StarNet Ruijie in 2003, and successfully listed on the A-share market in 2010 [5][6]. - StarNet Ruijie invests heavily in R&D, with expenditures exceeding 10% of revenue annually from 2018 to 2021, totaling 53.52 million yuan in 2021 [6][7]. Market Performance - As of April 11, 2023, the combined market capitalization of StarNet Ruijie and Ruijie Network reached 49 billion yuan, with Ruijie Network valued at 38.199 billion yuan and StarNet Ruijie at 10.819 billion yuan [7][8]. - In 2023, StarNet Ruijie's net profit decreased by 26.36%, while revenue grew by 5.35%, with a further decline in net profit of 4.76% expected in 2024 [8][9]. Future Outlook - StarNet Ruijie anticipates a significant increase in net profit for Q1 2024, projecting a growth of 211.64% to 298.20% year-on-year, driven by the demand for AI computing and the growth of the internet data center market [8][9]. - Ruijie Network expects a substantial increase in net profit for Q1 2025, with projections indicating a year-on-year growth of 4142.15% to 5310.90% [9][10].