FII(SH:601138) Xin Lang Cai Jing·2025-08-10 21:05Core Viewpoint - Industrial Fulian reported strong growth in AI-related business, achieving a revenue of 360.76 billion yuan in the first half of 2025, a year-on-year increase of 35% [1] Financial Performance - The company achieved a net profit attributable to shareholders of 11.958 billion to 12.158 billion yuan in the first half of 2025, representing a year-on-year growth of 36.84% to 39.12% [1] - For the second quarter, the net profit is expected to be between 6.727 billion and 6.927 billion yuan, with a year-on-year increase of 47.72% to 52.11% [1] - The final data for both the first half and the second quarter were at the upper end of the forecast range [1] Business Segments - The cloud computing business saw significant growth, with overall revenue in the second quarter increasing by over 50% year-on-year [1] - AI servers are becoming a larger part of the cloud computing business, with the product structure continuously optimizing [1] - The precision components business experienced a 17% year-on-year increase in shipment volume due to the strong sales of specific models [1] Market Position - Industrial Fulian holds approximately 40% market share in the AI server market, serving major clients such as Microsoft, Amazon, and Google [1] - The company has deep collaborations with leading global clients to develop next-generation AI servers and liquid-cooled cabinets [1] - The revenue from 800G high-speed switches nearly tripled compared to the entire year of 2024, solidifying the company's market share in high-performance computing and AI infrastructure [1]