Xin Lang Cai Jing·2025-08-13 21:06Core Viewpoint - Industrial Fulian reported a strong performance in Q2 2025, with revenue and net profit reaching historical highs, driven by robust growth in AI server and high-speed switch businesses [1] Financial Performance - In Q2 2025, the company's revenue reached 200.34 billion yuan, a year-on-year increase of 36% [1] - Net profit for the same period was 6.88 billion yuan, up 51% year-on-year [1] Business Segments - The AI server business showed strong competitiveness, with overall server revenue growth exceeding 50% and cloud service server revenue increasing by 150% year-on-year [1] - AI server revenue grew by over 60% year-on-year, indicating a significant demand in this segment [1] - The demand for high-speed switches remains strong, with revenue from 800G high-speed switches nearly tripling compared to the entire year of 2024 [1] - The precision components business benefited from the popularity of certain high-end smartphone models, with shipment volume increasing by 17% year-on-year [1] Future Outlook - The trend of high-end smartphone upgrades driven by AI is expected to sustain terminal demand for the precision components business [1] - Earnings per share forecasts for 2025-2027 are adjusted to 1.59, 2.19, and 2.59 yuan respectively, reflecting an increase in the proportion of high-end products [1]