Star-net(002396)

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星网锐捷(002396):业绩符合预告,AI数据中心高景气
HTSC· 2025-08-22 03:55
Investment Rating - The report maintains a "Buy" rating for the company with a target price of RMB 39.71 per share [7][5]. Core Views - The company reported a 1H25 revenue of RMB 8.886 billion, a year-on-year increase of 21.76%, and a net profit attributable to shareholders of RMB 212 million, up 69.32% year-on-year, driven by accelerated data center construction in the internet sector [1]. - The demand for network equipment remains strong, particularly in the data center segment, with expectations for continued high growth in internet capital expenditures in the second half of the year [4][5]. - The company is focusing on optimizing internal operations while benefiting from external market conditions, which is expected to accelerate performance growth [1]. Summary by Sections Financial Performance - In 1H25, the company achieved a gross margin of 30.46%, down 2.30 percentage points year-on-year, primarily due to strong purchasing power from internet clients and intensified industry competition [3]. - The company’s sales expense ratio, management expense ratio, and R&D expense ratio were 9.38%, 4.61%, and 11.17%, respectively, showing significant optimization compared to the previous year [3]. Product Segmentation - The company’s revenue from enterprise network equipment products reached RMB 6.459 billion, a year-on-year increase of 41.7%, with data center switch products from its subsidiary, Ruijie Networks, seeing a remarkable growth of 110% [2]. - The network terminal segment reported a revenue of RMB 320 million, down 23.1% year-on-year, indicating a challenging market environment for cloud and payment terminals [2]. Market Outlook - The company is expected to benefit from the easing supply of H20 and the gradual release of domestic GPUs, which will likely sustain high growth in internet capital expenditures [4]. - The company is also expanding into the metaverse and AI sectors, with its subsidiary, StarNet Vision, focusing on immersive experience spaces [4]. Profit Forecast and Valuation - The net profit forecasts for 2025, 2026, and 2027 have been adjusted to RMB 806 million, RMB 1.092 billion, and RMB 1.358 billion, respectively, reflecting slight upward adjustments based on business conditions [5]. - The company is assigned a PE valuation of 29x for 2025, with a target price of RMB 39.71 per share, indicating a positive outlook based on expected performance growth [5].
福建星网锐捷通讯股份有限公司2025年半年度报告摘要
Shang Hai Zheng Quan Bao· 2025-08-21 21:00
Core Points - The company has not distributed cash dividends or bonus shares during the reporting period [3] - The company plans to increase the estimated amount of daily related transactions for 2025 to a total of 134,615 million yuan, which includes a new estimated amount of 10,000 million yuan with Fujian Haixia Xingyun Information Technology Co., Ltd [19][25] - The board of directors and the supervisory board have confirmed that the 2025 semi-annual report is accurate and complete, with no false records or major omissions [17][10] Company Overview - Fujian StarNet Ruijie Communication Co., Ltd. held its seventh board of directors' ninth meeting on August 20, 2025, with all nine directors present [8] - The company has not experienced any changes in its controlling shareholder or actual controller during the reporting period [5][6] Financial Data - The company has confirmed that the procedures for preparing and reviewing the 2025 semi-annual report comply with relevant laws and regulations [17] - The company’s daily related transactions are based on fair market principles, ensuring that the interests of all shareholders, especially minority shareholders, are protected [24][26]
格隆汇公告精选︱沪电股份:上半年净利润16.83亿元 同比增长47.50%;中国石化:拟斥资5亿元-10亿元回购股份





Ge Long Hui· 2025-08-21 19:59
Company Announcements - Dameng Data's director and senior vice president is under investigation [1][2] - Dongjie Intelligent will continue to suspend trading from August 22, with an expected suspension period of no more than 3 trading days [1][2] - Tianxiao plans to issue H-shares and list on the Hong Kong Stock Exchange [1][2] - Ganneng Energy intends to transfer 65% equity of Ganneng Lingfeng [1][2] Investment Projects - Lanshi Heavy Industry plans to invest in the construction of supporting facilities for the Xinjiang Lanshi Industrial Park [1][2] - Chende International's Dener Xiangjiang Company plans to invest 15.38 million yuan in an ecological power station project [2] - Lanshi Heavy Industry also plans to invest in enhancing nuclear power equipment production capacity in Qingdao [2] Share Buybacks - China Petroleum plans to repurchase shares with an investment of 500 million to 1 billion yuan [1][2] - Dongbei Group intends to repurchase shares with an investment of 40 million to 80 million yuan [2] Financial Performance - Sany Heavy Industry reported a net profit of 5.216 billion yuan for the first half of the year, a year-on-year increase of 46% [1][3] - StarNet Ruijie reported a net profit of 212 million yuan for the first half of the year, a year-on-year increase of 69.32% [3] - Huadian reported a net profit of 1.683 billion yuan for the first half of the year, a year-on-year increase of 47.5% [3] - GoerTek reported a net profit of 1.417 billion yuan for the first half of the year, a year-on-year increase of 15.65% [3] Shareholding Changes - Yintai Holdings plans to increase its shareholding by 1% to 2% [1][3] - Boji Pharmaceutical's actual controller and associated parties plan to reduce their holdings by no more than 3% [1][3] Strategic Partnerships - Greeenmei signed a strategic cooperation agreement with Weilan Lithium Core for the joint development of ultra-high energy density battery materials [1][3] - Zhenghe Industrial plans to raise no more than 818 million yuan through a private placement for agricultural machinery component expansion projects [1][3]
星网锐捷: 半年报董事会决议公告
Zheng Quan Zhi Xing· 2025-08-21 16:47
证券代码:002396 证券简称:星网锐捷 公告编号:临2025-29 福建星网锐捷通讯股份有限公司 第七届董事会第九次会议决议公告 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、董事会会议召开情况 福建星网锐捷通讯股份有限公司(以下简称:"公司")第七届董事会第九次会 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日以现场会议和通 讯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。本次会议应到董事九人,实到董事九人。公司监事、高级管理人员亦列席了 本次会议,会议由董事长阮加勇先生召集并主持。本次会议的召集、召开符合《公 司法》和《公司章程》的规定。 二、董事会会议审议情况 经与会董事认真审议,本次会议以现场记名投票表决方式逐项表决通过了以下 决议: (一)本次会议以 9 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》 根据《深圳证券交易所股票上市规则》等规定,公司编制了《2025 年半年度报 告及摘要》。公司董事、监事、高级管理人员对《2025 年半年度报告及摘 ...
星网锐捷: 半年报监事会决议公告
Zheng Quan Zhi Xing· 2025-08-21 16:47
证券代码:002396 证券简称:星网锐捷 公告编号:临2025-30 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:公司董事会编制和审核公司《2025年半年度报告及摘要》 的程序符合法律、行政法规和中国证券监督管理委员会、深圳证券交易所的有关规 定,报告内容真实、准确、完整,不存在任何虚假记载、误导性陈述或者重大遗漏, 报告客观公正地反映了公司2025年1-6月的财务状况和经营成果。 《2025 年半年度报告》与本决议详见 2025 年 8 月 22 日在公司指定信息披露媒 体巨潮资讯网(http://www.cninfo.com.cn)公告,《2025 年半年度报告摘要》与 本决议详见 2025 年 8 月 22 日在公司指定信息披露媒体《证券时报》《中国证券报》 《上海证券报》《证券日报》和巨潮资讯网(http://www.cninfo.com.cn)公告。 三、备查文件 经与会监事签署的第七届第六次监事会会议决议。 福建星网锐捷通讯股份有限公司 第七届监事会第六次会 ...
星网锐捷:2025年半年度净利润约2.12亿元,同比增加69.32%
Mei Ri Jing Ji Xin Wen· 2025-08-21 16:21
Core Viewpoint - The company Xingwang Ruijie reported significant growth in its half-year performance for 2025, indicating strong operational results and profitability improvements [2] Financial Performance - The company's operating revenue for the first half of 2025 is approximately 8.886 billion yuan, representing a year-on-year increase of 21.76% [2] - The net profit attributable to shareholders is around 212 million yuan, showing a year-on-year increase of 69.32% [2] - Basic earnings per share are 0.3641 yuan, which is a year-on-year increase of 70.62% [2]
星网锐捷(002396.SZ)发布上半年业绩,归母净利润2.12亿元,增长69.32%
智通财经网· 2025-08-21 13:54
智通财经APP讯,星网锐捷(002396.SZ)发布2025年半年度报告,该公司营业收入为88.86亿元,同比增 长21.76%。归属于上市公司股东的净利润为2.12亿元,同比增长69.32%。归属于上市公司股东的扣除非 经常性损益的净利润为1.88亿元,同比增长77.41%。基本每股收益为0.3641元。 ...
星网锐捷:第七届监事会第六次会议决议公告
Zheng Quan Ri Bao· 2025-08-21 13:44
证券日报网讯 8月21日晚间,星网锐捷发布公告称,公司第七届监事会第六次会议审议通过了《2025年 半年度报告及摘要》。 (文章来源:证券日报) ...
星网锐捷:8月20日召开董事会会议
Mei Ri Jing Ji Xin Wen· 2025-08-21 13:13
Group 1 - The company StarNet RuiJie (SZ 002396) announced on August 21 that its seventh board meeting took place on August 20, 2025, in Fuzhou, Fujian Province [1] - The meeting reviewed the proposal to increase the expected amount of daily related transactions for the year 2025 [1] - For the first half of 2025, the company's revenue composition was 100.0% from the communications equipment manufacturing industry [1] Group 2 - As of the report, StarNet RuiJie's market capitalization is 18.5 billion yuan [1]
星网锐捷:上半年净利润同比增长69.32%
Mei Ri Jing Ji Xin Wen· 2025-08-21 10:45
Group 1 - The company, Xingwang Ruijie, reported a revenue of 8.886 billion yuan for the first half of 2025, representing a year-on-year growth of 21.76% [1] - The net profit for the same period was 212 million yuan, showing a significant year-on-year increase of 69.32% [1]