Core Insights - The company has made significant progress in the AI computing power network and high-speed switch sectors, with recent developments including winning a major project and the lifting of share restrictions for key shareholders [1][3]. Business Progress - The company won a bid for a smart computing infrastructure project in Shanghai, achieving a milestone of supporting a million P-level computing power for the first time [2]. - The 800G switch has been awarded a commercial procurement framework for clients from the second half of 2025 to the first half of 2026, with expectations of doubling related revenue in 2026 [2]. - The company has mass-produced 400G/800G LPO optical modules and launched a 1.6T prototype to meet the demands of the AI computing power network [2]. - Revenue from internet data center switches reached approximately 5.2 billion yuan in the first three quarters of 2025, with major clients including Alibaba, Tencent, and ByteDance [2]. Company Status - The controlling shareholder, StarNet Ruijie, and shareholders holding more than 5% of shares, Ruijin Consulting, have had their shares released from restrictions as of November 18, 2025 [3]. - As of February 9, 2026, the company has not received any notifications regarding share reduction plans from relevant shareholders [3]. Stock Performance - The stock price has experienced significant volatility, with a notable increase on February 9, 2026, due to the AI computing power network concept, followed by a 2.01% decline on February 13, 2026, with a net outflow of 28.71 million yuan in major funds [4]. - For the first three quarters of 2025, the company's revenue grew by 27.50% year-on-year, while net profit attributable to shareholders increased by 65.26% year-on-year [4].
锐捷网络AI算力网络布局获进展，股东股份已解禁