南财智讯1月26日电，广联达发布年度业绩预告，预计2025年全年归属于上市公司股东的净利润为37600 万元—42600万元，同比预增50.15%—70.11%；预计2025年全年归属于上市公司股东的扣除非经常性损 益的净利润为31800万元—36800万元，同比预增82.62%—111.34%；报告期内，公司持续优化产品和业 务结构，营业总收入较2024年略有下降，净利润保持增长，盈利能力持续提升：（1）数字成本业务收 入略有下降，续费率稳中有升；（2）数字施工业务战略聚焦初见成效，收入实现增长，毛利率提升， 经营质量持续改善；（3）国际化进程稳步推进，海外收入实现较快增长。报告期内，公司持续优化资 源配置，加强精细化管理，成本费用同比下降，经营效率提升。 ...

广联达公告，预计2025年度净利润为3.76亿元-4.26亿元，同比增长50.15%-70.11%。报告期内，公司持 续优化产品和业务结构，营业总收入较2024年略有下降，净利润保持增长，盈利能力持续提升：（1） 数字成本业务收入略有下降，续费率稳中有升；（2）数字施工业务战略聚焦初见成效，收入实现增 长，毛利率提升，经营质量持续改善；（3）国际化进程稳步推进，海外收入实现较快增长。 ...

证券代码：002410 证券简称：广联达 公告编号：2026-001 广联达科技股份有限公司 2025 年度业绩预告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导性陈述或重大遗 漏。 一、本期业绩预计情况 1、业绩预告期间：2025 年 1 月 1 日至 2025 年 12 月 31 日。 2、业绩预告情况：预计净利润为正值且属于同向上升 50%以上情形 | 项 | 目 | | 本报告期 | | | 上年同期 | | --- | --- | --- | --- | --- | --- | --- | | 归属于上市公司股东的 | | | 37,600 | ～ | 42,600 | 25,042.43 | | 净利润 | | 比上年同期增长 | 50.15% | ～ | 70.11% | | | 扣除非经常性损益后的 | | | 31,800 | ～ | 36,800 | 17,412.76 | | 净利润 | | 比上年同期增长 | 82.62% | ～ | 111.34% | | | 基本每股收益（元/股） | | | 0.2291 | ～ | 0.2596 | 0.1513 ...

过去二十年，中国企业级服务的增长逻辑非常朴素。 我们习惯了依靠两条腿走路，一条腿是廉价的工程师红利，让我们能以极低的成本开发功能复杂的软 件；另一条腿是廉价的销售与实施红利，支撑起庞大的地面部队去填平市场的沟壑。 在很长一段时间里，这套线性增长模型行之有效，只要招更多的人，就能签更多的单，获得更高的增 长。 然而，随着人口结构的变化和薪资水平的攀升，这两大红利正在迅速消退。 如今，维持一支千人规模的直销铁军，成本已高到让企业难以承受；而客户在被互联网深度教育后，对 软件体验的挑剔程度也呈指数级上升，单纯靠堆人力做交付的模式，边际效益几近归零。 传统的 To B 商业模式正面临结构性失效，企业如果不能从根本上改变生产关系，继续依赖人海战术， 增长将无从谈起。 正是这种压力，催生了商业物种的代际更替。 我们将目光投向中国 To B 发展史上的三个切片，试图厘清这场进化的脉络。 1.0 时代，以用友、广联达为代表的资源型企业，利用渠道和行业壁垒完成了早期的跑马圈地； 01 陆军时代：一切为了管控 在云计算尚未普及、移动互联网连影子都看不到的 1.0 时代，中国 To B 市场是一片广袤而荒芜的处女 地。 那时的企业 ...

Investment Rating - The report indicates a positive outlook for the computer industry, suggesting that it has fundamental support for investment and potential for future growth [1][2]. Core Insights - The computer sector is expected to experience a rebound in performance due to the recovery of the macro economy and advancements in AI technology, which are anticipated to enhance profitability [1][10]. - The report highlights a significant increase in demand for CPUs, driven by the rise of AI applications and the need for high-performance computing [16][19]. - The introduction of sandbox environments for AI agents is seen as a critical development, enhancing system security and performance in high-concurrency scenarios [22][29]. Summary by Sections Investment Allocation - In Q4 2025, the public fund allocation for the computer industry was 1.6%, a decrease of 0.8 percentage points from the previous quarter, ranking it 14th among 30 sectors [2][3]. - The top ten holdings in the computer sector included Inspur Information, Kingsoft Office, and Sangfor Technologies, with notable changes in the composition of these holdings [4][5]. Valuation Metrics - As of January 23, 2026, the PE (TTM) for the computer industry was 94.6x, placing it in the 94.80th percentile historically, while the PS (TTM) was 4.0x, in the 71.40th percentile [10][11]. - The report suggests that despite high PE levels, there is still room for growth in PS and PCF valuations as the market sentiment improves [10][11]. CPU Price Expectations - Intel and AMD are expected to raise server CPU prices by 10% to 15% in Q1 2026 due to supply constraints and increased demand from AI applications [16][21]. - The report emphasizes the growing importance of CPUs in AI workloads, particularly in managing complex tasks and ensuring system stability [19][40]. Key Investment Themes - The report identifies several key investment themes, including leadership in the digital economy, AIGC applications, and the importance of data elements and new industrialization [41][42]. - Specific companies recommended for investment include Inspur Information, Kingsoft Office, and various firms involved in AI and data solutions [41][42].

Group 1 - The A-share market has seen a rebound in AI application concept stocks, with Shanghai Steel Union rising over 11% [1] - Other notable gainers include Jiuqi Software and Zhejiang Wenhu Internet, both hitting the 10% limit up, while Jinxi Modern and Zhongkong Technology increased by over 9% [1] - The overall trend indicates a positive momentum in the AI sector, as evidenced by the MACD golden cross signal formation [2] Group 2 - Shanghai Steel Union's market capitalization is approximately 9.791 billion, with a year-to-date increase of 22.29% [2] - Jiuqi Software has a market cap of around 8.217 billion and a year-to-date increase of 19.27% [2] - Zhejiang Wenhu Internet's market cap stands at about 16.3 billion, with a significant year-to-date increase of 40.28% [2]

证券日报网讯1月20日，广联达（002410）在互动平台回答投资者提问时表示，海外业务是公司比较确 定的发展方向，现阶段的重点区域包括亚洲市场和其他地区。 ...

证券日报网讯1月20日，广联达（002410）在互动平台回答投资者提问时表示，基建业务目前占公司整 体收入的比重还不是很高，不过公司也已经针对这一领域的市场需求变化，在既有产品基础上进行了新 的调整，形成了覆盖设计、成本、施工全价值链的产品体系。经过近些年的打磨与验证，产品价值已逐 步获得市场认可并展现出一定的竞争优势，后续也会着重加快在基建业务的推广进度。 ...

证券日报网讯1月20日，广联达（002410）在互动平台回答投资者提问时表示，公司一直高度重视市值 管理，通过提升盈利能力与核心竞争力，推动企业高质量发展，持续夯实企业内在价值。 ...

Core Viewpoint - The report from CICC highlights that Guanglianda will launch the AecGPT AI model and platform for the construction industry in April 2025, focusing on the integration of AI technology and products [1] Group 1: AI Model Features - The construction industry vertical model has three main characteristics: 1) Multimodal integration is essential; 2) The model must comply with engineering specifications of the physical world; 3) It should allow API calls to software tools to meet operational needs in real work scenarios [1] Group 2: Future Focus and Revenue Model - The next phase will concentrate on building "knowledge-driven intelligent agents" adaptable to various scenarios, ensuring accuracy in results and achieving end-to-end delivery [1] - The report suggests that RaaS (Results as a Service) is a feasible revenue model for end-to-end delivery software tools [1] Group 3: Profit Forecast and Valuation - The company maintains its profit forecasts for 2025 and 2026, while introducing a new forecast for 2027 with a net profit attributable to shareholders of 780 million yuan [1] - Considering the ongoing development of the AI business, the target price is raised by 11.6% to 21.2 yuan based on a 2027 price-to-earnings ratio valuation [1]