中际旭创2025年净利润同比增长108.81%，算力基础设施投入驱动高速光模块放量 | 财报见闻

Core Viewpoint - The leading optical module company, Zhongji Xuchuang, is expected to achieve a significant increase in performance by 2025, with net profit more than doubling, reflecting strong demand for high-end optical interconnection devices driven by the global infrastructure construction boom in computing power [1] Group 1: Financial Performance - In the performance report released on February 27, 2025, the total operating revenue reached 38.24 billion yuan, a year-on-year increase of 60.25% [1] - The net profit attributable to shareholders was approximately 10.8 billion yuan, representing a year-on-year growth of 108.81%, with basic earnings per share rising to 9.80 yuan, up 107.63% from the previous year [1] - The optical module business was the main profit contributor, achieving a net profit of about 11.76 billion yuan, which, after deducting the impact of stock incentive expenses, resulted in a net profit of approximately 11.99 billion yuan, more than doubling from 5.66 billion yuan in 2024 [4] Group 2: Profitability and Efficiency - The operating profit for 2025 reached 13.597 billion yuan, a year-on-year increase of 124.74%, significantly outpacing the revenue growth of 60.25%, indicating improved profitability due to scale effects and product structure enhancements [4] - The net profit after excluding non-recurring gains and losses was 10.71 billion yuan, reflecting a year-on-year growth of 111.32%, indicating that the performance growth primarily stemmed from core business operations rather than one-time items [4] Group 3: Asset Growth - By the end of 2025, the total assets of the company reached 45.53 billion yuan, an increase of 57.72% from the beginning of the period [5] - The net assets attributable to shareholders amounted to 30 billion yuan, up 56.81% from the beginning of the period, with the net asset per share rising to 27.00 yuan, an increase of 58.17% [5] - The expansion in total and net asset scales was primarily driven by revenue growth and increased operational scale, leading to corresponding increases in cash, inventory, and accounts receivable [5]