FII(SH:601138) Zhong Guo Ji Jin Bao·2025-10-20 22:41Core Viewpoint - Industrial Fulian announced its first-ever semi-annual profit distribution plan since its listing in 2018, proposing a cash dividend of 3.3 CNY per 10 shares, totaling 6.551 billion CNY, which accounts for 54.08% of its net profit for the first half of 2025 [1][2]. Financial Performance - For the first half of 2025, Industrial Fulian reported revenue of 360.76 billion CNY, a year-on-year increase of 35.58%, and a net profit attributable to shareholders of 12.113 billion CNY, up 38.61% [2][3]. - The company's non-recurring net profit reached 11.668 billion CNY, reflecting a growth of 36.73% year-on-year [2]. AI Business Growth - The revenue from AI servers in the second quarter of 2025 saw a significant increase, with a year-on-year growth rate exceeding 60% [3]. - The demand for 800G high-speed switch products surged, with revenue in the first half of 2025 reaching nearly three times that of the entire year of 2024, driven by the rising need for data transmission [3]. Shareholder Engagement - Industrial Fulian's semi-annual dividend plan is seen as part of a broader trend in the A-share market towards enhancing shareholder returns, with more leading companies adopting mid-term dividends as a standard practice [3]. - The company has maintained a strong annual dividend record since its listing, with total dividends exceeding 56.5 billion CNY, and has distributed over 10 billion CNY annually for three consecutive years from 2022 to 2024 [2][3]. Stock Performance - Industrial Fulian's stock price has more than doubled in 2023, closing at 62.06 CNY per share on October 20, 2023, with a total market capitalization of 1,232.4 billion CNY [3].