证券代码：301165 证券简称：锐捷网络 公告编号：2025-046 锐捷网络股份有限公司 关于股东协议到期解除一致行动关系暨权益变动的提示性公告 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。 特别提示： 1. 本次权益变动系福建星网锐捷通讯股份有限公司（以下简称"星网锐捷"） 和厦门锐进东方企业管理咨询合伙企业（有限合伙）（以下简称"锐进咨询"）的 《关于锐捷网络股份有限公司的一致行动协议》（以下简称"《一致行动协议》"） 于 2025 年 11 月 21 日到期，双方一致行动关系自到期之日起自行解除。 2. 本次解除一致行动关系，不会导致锐捷网络股份有限公司（以下简称"公 司"或"锐捷网络"）的控股股东和实际控制人发生变化。 一、《一致行动协议》签署及履行情况 二、一致行动关系解除情况 1 根据《一致行动协议》约定，该协议有效期为自锐捷网络股票上市之日起三 十六个月。该协议于 2025 年 11 月 21 日有效期满。上述股东的一致行动关系自 协议有效期满后自动解除。 三、一致行动关系解除前后权益变动情况 本次一致行动关系解除后，相关股东所持公司股份不 ...

北京市中伦律师事务所 关于锐捷网络股份有限公司 2025 年第二次临时股东大会的 法律意见书 本所及本所律师依据《中华人民共和国证券法》（以下简称"《证券法》"）、 《律师事务所从事证券法律业务管理办法》和《律师事务所证券法律业务执业规 则（试行）》等规定及本法律意见书出具日以前已经发生或者存在的事实，严格 履行了法定职责，遵循了勤勉尽责和诚实信用原则，进行了充分的核查验证，保 证本法律意见书所认定的事实真实、准确、完整，所发表的结论性意见合法、准 确，不存在虚假记载、误导性陈述或者重大遗漏，并承担相应法律责任。 本法律意见书根据《中华人民共和国公司法》（以下简称"《公司法》"）、 《证券法》、中国证券监督管理委员会（以下简称"中国证监会"）《上市公司股 东会规则》（以下简称"《股东会规则》"）及《深圳证券交易所上市公司股东会 网络投票实施细则》（以下简称"《股东会网络投票实施细则》"）等现行有效的 法律、法规、规范性文件以及《锐捷网络股份有限公司章程》（以下简称"《公 司章程》"）、《锐捷网络股份有限公司股东大会议事规则》（以下简称"《股东 大会议事规则》"）的规定而出具。 二〇二五年十一月 北京 • 上海 ...

证券代码：301165 证券简称：锐捷网络 公告编号：2025-045 锐捷网络股份有限公司 2025 年第二次临时股东大会决议公告 （1）现场会议时间：2025 年 11 月 27 日（星期四）14:30 （2）网络投票时间：通过深圳证券交易所系统进行网络投票的具体时间为 2025 年 11 月 27 日 9:15-9:25，9:30-11:30，13:00-15:00；通过深圳证券交易所互 联网投票系统投票的具体时间为 2025 年 11 月 27 日 9:15 至 15:00 的任意时间。 1、本次股东大会未出现否决议案的情形。 2、现场会议召开地点：福建省福州市闽侯县高新区新港大道 33 号星网锐捷 科技园 B 栋 16 层公司会议室 2、本次股东大会不涉及变更以往股东大会已通过的决议。 一、会议召开和出席情况 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）会议召开情况 特别提示： 1、会议召开时间 板上市公司规范运作》等法律、行政法规、部门规章、规范性文件及《公司章程》 的有关规定。 （二）会议出席情况 1、股东出席的总体情况 通过现场和网络 ...

格隆汇11月27日丨锐捷网络(301165.SZ)在投资者互动平台表示，目前公司尚无光电路交换机(OCS)产 品。公司始终对该领域保持着积极关注和探索研究，力求通过发挥自身产品研发创新优势，满足不断变 化的用户需求。 ...

Core Viewpoint - Ruijie Networks has shown significant stock performance with a year-to-date increase of 47.25%, despite recent fluctuations in the market [2] Group 1: Stock Performance - As of November 26, Ruijie Networks' stock price increased by 2.12% to 75.30 CNY per share, with a trading volume of 5.58 billion CNY and a market capitalization of 598.98 billion CNY [1] - The stock has experienced a 10.36% increase over the last five trading days, but a decline of 4.49% over the last 20 days and 15.33% over the last 60 days [2] Group 2: Financial Performance - For the period from January to September 2025, Ruijie Networks reported a revenue of 10.68 billion CNY, reflecting a year-on-year growth of 27.50%, and a net profit attributable to shareholders of 680 million CNY, which is a 65.26% increase year-on-year [2] - The company has distributed a total of 1.117 billion CNY in dividends since its A-share listing [3] Group 3: Shareholder Information - As of September 30, 2025, the number of shareholders for Ruijie Networks increased by 34.36% to 34,200, while the average number of tradable shares per shareholder decreased by 25.57% to 2,788 shares [2] - The top circulating shareholder is Dongfang Alpha Advantage Industry Mixed A, holding 3.2388 million shares, with no change from the previous period [3]

（文章来源：每日经济新闻） 每经AI快讯，11月25日，通信设备板块震荡走强，德科立涨超13%，凌云光涨超10%，长芯博创涨超 8%，光库科技、锐捷网络跟涨。 ...

Investment Rating - The report maintains a "Buy" rating for several key companies in the telecommunications and AI computing chain, including ZTE Corporation, NewEase, Ruijie Networks, Zhongji Xuchuang, China Telecom, Haige Communication, China Mobile, and Shanghai Hantong [9][41]. Core Insights - The report highlights the ongoing concerns regarding the sustainability of the AI "bubble" and the effectiveness of Scaling Law, while expressing optimism about the performance of Gemini 3 and Banana Pro, which have exceeded initial expectations [2][3]. - The AI computing chain is expected to continue its upward trend, with a focus on Google's core components such as optical modules and liquid cooling systems [2][3]. - The report emphasizes the generational leap in capabilities of Gemini 3, which has achieved significant benchmarks in reasoning and multimodal tasks, thereby shortening the time from investment to revenue [20][14]. Summary by Sections Market Overview - The telecommunications index fell by 2.51% last week, while the Shanghai Composite Index and Shenzhen Component Index dropped by 3.90% and 5.13%, respectively [2][13]. - Concerns about the overseas AI "bubble" are prevalent, particularly regarding the effectiveness of Scaling Law and the sustainability of ROI [2][3]. Key Companies and Dynamics - The report recommends several companies within the AI computing chain, including: - ZTE Corporation (Buy, target price: 64.34) [41] - NewEase (Buy, target price: 476.71) [41] - Ruijie Networks (Buy, target price: 102.51) [41] - Zhongji Xuchuang (Buy, target price: 626.68) [41] - China Telecom (Buy, target price: 9.11) [41] - Haige Communication (Buy, target price: 13.70) [41] - China Mobile (Buy, target price: 126.20) [41] - Shanghai Hantong (Buy, target price: 28.28) [41] - China Unicom (Hold, target price: 7.56) [41] AI Computing Chain Insights - The report notes that the performance of Gemini 3 and Nano Banana Pro has significantly advanced the capabilities in reasoning and multimodal tasks, indicating a strong integration into the AI ecosystem [20][14]. - The demand for AI computing resources is expected to grow, driven by the increasing need for reasoning capabilities and the expansion of cloud token scales [20][14]. Financial Performance - ZTE Corporation reported a revenue of 100.52 billion yuan for the first nine months of 2025, a year-on-year increase of 12%, but a net profit decline of 33% [42]. - NewEase's revenue for the first three quarters of 2025 reached 16.5 billion yuan, a year-on-year increase of 222%, with a net profit increase of 284% [44]. - Ruijie Networks reported a revenue of 10.68 billion yuan for the first nine months of 2025, a year-on-year increase of 28%, with a net profit increase of 65% [46].

Group 1 - The core viewpoint of the news is that Ruijie Networks has seen a stock price increase of 5.01%, reaching 69.57 CNY per share, with a total market capitalization of 55.34 billion CNY as of the report date [1] - Ruijie Networks, established on October 28, 2003, specializes in the research, design, and sales of network equipment, network security products, and cloud desktop solutions, with the revenue composition being 87.85% from network equipment, 6.12% from others, 3.19% from network security products, and 2.84% from cloud desktop solutions [1] Group 2 - Jin Yuan Shun An Fund has a significant holding in Ruijie Networks, with its Growth Dynamic Flexible Allocation Mixed Fund (620002) holding 9,000 shares, accounting for 2.86% of the fund's net value, making it the sixth-largest holding [2] - The Growth Dynamic Flexible Allocation Mixed Fund (620002) has a total scale of 28.17 million CNY and has achieved a year-to-date return of 16.35%, ranking 4,115 out of 8,209 in its category [2]

Core Viewpoint - On November 21, a total of 9 companies had their restricted shares unlocked, with a total unlocking volume of 753 million shares, amounting to a market value of 49.147 billion yuan based on the latest closing price [1] Summary by Category Unlocking Volume - The companies with the highest unlocking volumes are Ruijie Networks, Jinghua New Materials, and Fenghuo Communication, with unlocking shares of 700 million, 27.1998 million, and 17.2516 million respectively [1] Unlocking Market Value - In terms of unlocking market value, Ruijie Networks, Jinghua New Materials, and Fenghuo Communication lead with values of 47.866 billion yuan, 0.702 billion yuan, and 0.039 billion yuan respectively [1] Unlocking Ratio - One company has an unlocking ratio exceeding 10%. The unlocking ratios for Ruijie Networks, Jinghua New Materials, and Fenghuo Communication are 88.0%, 9.39%, and 1.34% respectively [1]

Group 1 - The core viewpoint of the article is that Ruijie Networks (301165) is focusing on selling LPO optical modules primarily to internet companies with high-performance computing network needs, which currently represents a small portion of the company's total revenue [1] Group 2 - The LPO optical modules are designed to be compatible with the data center switch products and overall solutions that these internet companies procure [1] - The company is actively engaging with investors through interactive platforms to provide insights into its product offerings and market strategy [1]