FII(SH:601138) Chang Jiang Shang Bao·2025-11-28 00:28Core Viewpoint - Industrial Fulian has significantly raised its share repurchase price limit to enhance market confidence, with the new limit set at 75 yuan per share, nearly tripling the previous limit of 19.36 yuan per share [1][2]. Share Repurchase Plan - The adjusted repurchase price limit is set at no more than 75 yuan per share, which is 150% of the average trading price over the last 30 trading days prior to the board's decision [2]. - The previous repurchase price limit was 19.36 yuan per share, marking an increase of approximately 287.4% [2]. - As of the announcement date, the company has repurchased 7.6974 million shares, accounting for 0.04% of the total share capital, with a total expenditure of about 147 million yuan [2]. Financial Performance - For the first three quarters of 2025, Industrial Fulian reported revenues exceeding 600 billion yuan and a net profit attributable to shareholders exceeding 22 billion yuan, nearing the full-year figures for 2024 [4]. - In Q3, the company achieved revenues over 240 billion yuan, with a year-on-year growth rate exceeding 40%, and net profit surpassing 10 billion yuan, marking the first time quarterly profits exceeded 10 billion yuan [5]. - The cloud computing business saw revenue growth of over 65% year-on-year, driven by the demand for AI cabinet products [5]. Client Base and Market Position - Industrial Fulian has a diverse client base, including major companies in cloud computing and AI chip sectors such as Amazon AWS, Microsoft, Google, Alibaba, Tencent, and NVIDIA [4]. - The company has reported a significant increase in contract liabilities, reaching 2.538 billion yuan, a year-on-year growth of over 605% [5]. Historical Share Repurchase - Since 2021, Industrial Fulian has conducted three rounds of share repurchases, with a total repurchase amount reaching 1.789 billion yuan [6].