FII(SH:601138) Zhi Tong Cai Jing·2026-01-28 11:11Core Viewpoint - The company, Industrial Fulian, anticipates significant growth in net profit for the fourth quarter of 2025 and the entire year, driven by strong performance in cloud computing and communication equipment sectors [1][2]. Group 1: Financial Projections - The company expects net profit attributable to shareholders for Q4 2025 to be between 12.6 billion to 13.2 billion yuan, an increase of 4.5 billion to 5.1 billion yuan compared to the same period last year, representing a year-on-year growth of 56% to 63% [1] - For the full year 2025, the projected net profit is between 35.1 billion to 35.7 billion yuan, an increase of 11.9 billion to 12.5 billion yuan year-on-year, reflecting a growth of 51% to 54% [1] Group 2: Cloud Computing Business - In 2025, revenue from cloud service provider servers is expected to grow over 1.8 times year-on-year; for Q4 2025, the revenue is projected to increase over 30% quarter-on-quarter and over 2.5 times year-on-year [1] - The company anticipates that revenue from AI servers for cloud service providers will grow over 3 times year-on-year in 2025, with Q4 2025 revenue expected to increase over 50% quarter-on-quarter and over 5.5 times year-on-year [1] Group 3: Communication and Mobile Network Equipment - The company’s high-speed switch business is expected to continue its strong growth trajectory, with revenue from 800G and above high-speed switches projected to increase by 13 times year-on-year in 2025; for Q4 2025, revenue is expected to grow over 4.5 times year-on-year [2] - The precision components business is expected to achieve double-digit growth in shipment volume compared to the previous year, supported by mature technology reserves and a stable customer supply system, further solidifying the foundation for the company's diversified business development [2]