新易盛业绩股价双飞升 三年股价涨超32倍 股东高管却密集减持套现超20亿

Core Viewpoint - The A-share market's technology sector is experiencing a surge, with NewEase (300502.SZ) becoming a focal point due to its impressive performance and stock price growth, alongside other leading companies in the optical module field [1] Financial Performance - In the first half of 2025, NewEase achieved a revenue of 10.437 billion yuan, marking a year-on-year increase of 282.64%, and net profit attributable to shareholders reached 3.942 billion yuan, up 355.68%, both hitting historical highs [4] - The core driver of this performance is the explosive demand for AI computing power, leading to an expansion in the optical module market [4] - The company's point-to-point optical module products generated a revenue of 10.409 billion yuan, with a year-on-year growth of 287.44%, and a gross margin of 47.48%, an increase of 4.12 percentage points from the previous year [4] Cash Flow Improvement - NewEase reported a net operating cash flow of 0.953 billion yuan in the first half of 2025, reflecting a year-on-year increase of 427.7%, indicating strong profitability quality [5] - The revenue and net profit for the first half of 2025 have already surpassed the total figures for the entire year of 2024, which were 8.647 billion yuan and 2.838 billion yuan, respectively [5] Shareholder Actions - Despite the strong performance, there have been significant share sell-offs by executives and shareholders, raising market concerns [5] - From May 8 to June 18, 2025, three executives collectively sold 99,400 shares for 10.5835 million yuan, part of a broader trend where executives have executed 42 sell-off operations since 2023 without any buybacks [5] - The actual controller, Gao Guangrong, has notably sold over 900 million yuan worth of shares since the lifting of lock-up restrictions in 2019, and faced regulatory scrutiny for violating transfer restrictions [5][6] - Other significant shareholders, including former actual controller Hu Xueming and controlling shareholder Han Yulan, have also participated in multiple sell-offs, with total proceeds exceeding 2 billion yuan from secondary market sales [6]