FII(SH:601138) Nan Fang Du Shi Bao·2025-11-24 14:45Core Viewpoint - Industrial Fulian's stock price experienced a significant decline due to unfounded rumors regarding its fourth-quarter performance, which the company has officially denied, affirming that its operations and customer demand remain strong [2][3]. Financial Performance - For the first three quarters of the year, Industrial Fulian reported a revenue of 603.93 billion yuan, representing a year-on-year growth of 38.40%, and a net profit attributable to shareholders of 22.49 billion yuan, up 48.52% year-on-year [3]. - The cloud computing segment saw a revenue increase of over 65% year-on-year, driven by the demand for AI cabinet products, with a third-quarter growth exceeding 75% [3]. - The cloud service provider business accounted for 70% of the cloud computing revenue, with a year-on-year increase of over 150%, and a third-quarter growth of more than 210% [3]. - The GPU AI server revenue surged over 300% year-on-year, with a third-quarter sequential growth of over 90% and a year-on-year increase of over five times [3]. Business Segments - The precision components business benefited from the launch of new AI smart terminal products, leading to increased customer demand and sustained growth [3]. - The switch business experienced significant growth due to rising AI demand, with a third-quarter year-on-year increase of 100%, and the 800G switch saw a growth of over 27 times in the same period [3]. Stock Performance - Industrial Fulian's stock price reached a high of 83.88 yuan on October 30, following the release of its third-quarter report, marking a 486% increase from its year-to-date low of 14.30 yuan in April [4]. - As of November 24, the stock closed at 55.94 yuan, reflecting a decline of 7.80%, with a total market capitalization of 1.11 trillion yuan [4].