Core Viewpoint - The company Demingli forecasts significant growth in its 2025 financial performance, with expected revenue and net profit far exceeding market expectations, driven by increased demand in the storage chip sector due to AI applications [2][4]. Financial Performance Forecast - Demingli anticipates 2025 revenue between 10.3 billion to 11.3 billion yuan, representing a year-on-year increase of 115.82% to 136.77% from approximately 4.77 billion yuan in the previous year [2]. - The expected net profit attributable to shareholders is projected to be between 650 million to 800 million yuan, reflecting a year-on-year growth of 85.42% to 128.21% from about 351 million yuan [2]. - The forecasted basic earnings per share are estimated at 2.91 to 3.58 yuan, compared to 1.7 yuan in the previous year [2]. Fourth Quarter Performance - For the fourth quarter of 2025, Demingli expects a substantial net profit of approximately 677 million to 827 million yuan, indicating a year-on-year increase of 1051.59% to 1262.41% and a quarter-on-quarter growth of 645.11% to 810.18% [3]. - The significant profit increase in Q4 is attributed to a recovery in the storage industry driven by AI demand, leading to improved sales margins [3]. Comparison with Market Expectations - The consensus forecast from six institutions for Demingli's 2025 net profit is 547.83 million yuan, which is significantly lower than the company's own forecast, even at the lower end of its range [4]. - The lowest and highest profit estimates from the institutions are 361 million yuan and 725 million yuan, respectively, indicating a wide range of expectations [4]. Market Dynamics - The increase in storage chip prices has positively impacted Demingli's stock performance, which rose by 273.2% in 2025, with a peak increase of 369.99% during the year [5]. - Major storage companies have raised product prices due to surging demand for high-performance storage chips driven by AI applications, which has contributed to the overall price increase in the storage market [5].
存储芯片“牛股”德明利：预计2025年归母净利润6.5亿元~8亿元 远超机构预期