TFC(SZ:300394) Zheng Quan Ri Bao Wang·2025-08-26 06:11Core Viewpoint - Tianfu Communication reported strong financial performance for the first half of 2025, with significant revenue and profit growth driven by robust demand in the AI and data center sectors [1][2][3]. Financial Performance - The company achieved operating revenue of 2.456 billion yuan, a year-on-year increase of 57.84% [1]. - Net profit attributable to shareholders reached 899 million yuan, reflecting a year-on-year growth of 37.46% [1]. - A cash dividend of 5 yuan per 10 shares was proposed, totaling 389 million yuan, indicating strong cash reserves and confidence in future profitability [1]. Industry Demand - Tianfu Communication is a leading provider of optical device solutions, with products widely used in AI, data centers, optical communication, and optical sensing [2]. - The global AI industry is accelerating, and data center construction is ongoing, leading to stable growth in demand for high-speed optical devices [2]. - The production and sales of optical communication components expanded, with a production volume of 210 million units, an increase of 38.38% year-on-year [2]. Product Performance - Revenue from passive optical devices reached 863 million yuan, up 23.79% year-on-year, with a gross margin of 63.57% [2]. - Active optical devices saw revenue of 1.566 billion yuan, a remarkable increase of 90.95% year-on-year, driven by new product launches [2]. R&D Investment - R&D investment amounted to 126 million yuan, a year-on-year increase of 11.97%, focusing on five core projects aligned with industry trends [4]. - The company is enhancing its global strategy with operational bases in Singapore, the U.S., and Thailand to improve local responsiveness and reduce costs [4]. Future Outlook - The demand for AI computing power is expected to drive upgrades in data center optical modules to 1.6T and above, benefiting Tianfu Communication [5]. - The company aims to optimize production capacity in Thailand, deepen technology development related to silicon photonics and CPO, and explore new fields like lidar and biophotonics [6]. - Overall, the combination of industry demand, R&D investment, and global expansion is expected to support long-term growth for the company [6].