EOPTOLINK(SZ:300502) Jin Rong Jie·2025-04-23 13:01Core Viewpoint - The company, New Yisheng, reported significant growth in revenue and net profit for the fiscal year 2024 and the first quarter of 2025, driven by increased demand for high-speed optical modules and ongoing investments in computing power [1][2]. Group 1: Financial Performance - In 2024, the company achieved a revenue of 8.647 billion yuan and a net profit attributable to shareholders of 2.838 billion yuan, representing year-on-year growth of 179.15% and 312.26% respectively [2]. - For the first quarter of 2025, the company reported a revenue of 4.052 billion yuan and a net profit of 1.573 billion yuan, with year-on-year increases of 264.13% and 384.54% [1][2]. Group 2: Product and Market Insights - The growth in revenue and profit is primarily attributed to the sustained increase in computing power investments and the rising demand for high-speed optical module products [2]. - The shipment of 800G products has shown continuous growth both year-on-year and quarter-on-quarter in the first quarter of 2025 [3]. Group 3: Operational Developments - The first phase of the company's factory in Thailand commenced operations in the first half of 2023, while the second phase began operations in early 2025 and is currently in a phase of ongoing capacity expansion [4]. - The company places significant emphasis on the domestic market, with a dedicated team focusing on market development and customer service, achieving good progress in 2024 [5]. Group 4: Cash Flow and Future Outlook - The decline in net cash flow is attributed to a timing difference between revenue recognition and procurement cycles, despite a consistent high-speed growth in revenue over recent quarters [5][6]. - The company has not observed any changes in overseas market demand for computing power for the second half of the year based on current market demand and order status [5].