AI驱动业绩创新高 工业富联上半年净利润同比增长38.61%

Core Viewpoint - Industrial Fulian (601138) reported strong financial performance in the first half of 2025, driven by significant growth in AI-related businesses, achieving a revenue of 360.76 billion yuan, a year-on-year increase of 35.58%, and a net profit of 12.113 billion yuan, up 38.61%, both reaching historical highs for the same period [1] Business Performance - In the cloud computing sector, major global cloud service providers continued to expand capital expenditure on AI infrastructure, with overall server revenue for Industrial Fulian growing over 50% year-on-year, and AI server revenue increasing over 60% [2] - The GB200 series products have achieved mass production with improving yield rates and increasing shipment volumes, while the company maintains industry-leading positions in delivery capabilities and supply chain collaboration [2] - In the telecommunications and mobile network equipment segment, the deployment of AI accelerators has led to a significant increase in demand for high-speed switches, with revenue from 800G switches nearly tripling compared to the entire year of 2024 [2] Shareholder Returns - The company has implemented a substantial dividend and share buyback strategy, distributing a cash dividend of 6.4 yuan per 10 shares, totaling 12.7 billion yuan, marking a historical high for the company [3] - Industrial Fulian has consistently paid over 10 billion yuan in dividends for three consecutive years, with total dividends since listing reaching 56.54 billion yuan [3] Future Outlook - The company plans to continue focusing on AI development, expanding collaborations with sovereign entities, cloud service providers, and enterprises, while actively pursuing opportunities in emerging fields such as AI and robotics [3] - Industrial Fulian is also strategically positioning itself in high-end intelligent manufacturing and industrial internet, as well as gradually entering the semiconductor and new energy vehicle components sectors [3]