2024年1至12月份，工业富联的营业收入构成为：云服务设备占比52.43%，通信网络设备占比47.26%， 工业互联网占比0.15%，其他业务占比0.15%。 （文章来源：每日经济新闻） 工业富联（SH 601138，收盘价：43.22元）8月14日晚间发布公告称，公司第三届第二十六次董事会会 议于2025年8月14日以书面传签的方式召开。会议审议了《关于聘任公司财务总监的议案》等文件。 ...

据公司公告显示，截至2025年7月31日，工业富联已累计回购公司股份约770万股，占总股本的0.04%， 回购金额达1.47亿元，回购价格区间为18.4元/股至19.84元/股。2025年一季度，公司实现营业收入 1604.15亿元，归母净利润52.31亿元。 8月4日工业富联主力资金净流出5690.60万元，占流通市值的0.01%。近五个交易日主力资金累计净流入 1.08亿元，占流通市值的0.02%。 风险提示：以上内容仅供参考，不构成投资建议。股市有风险，投资需谨慎。 工业富联8月4日股价报32.97元，较前一交易日下跌0.03元，跌幅0.09%。当日成交量为138.18万手，成 交金额达45.07亿元。 工业富联是全球领先的智能制造及工业互联网解决方案服务商，主营业务包括云服务设备、通信网络设 备等。2024年公司营收结构中，云服务设备占比52.43%，通信网络设备占比47.26%。 ...

（文章来源：每日经济新闻） 工业富联（SH 601138，收盘价：32.97元）8月4日晚间发布公告称，截至2025年7月31日，公司通过上 海证券交易所交易系统以集中竞价交易方式累计回购公司股份约770万股，占公司目前总股本0.04%， 回购最高价格人民币19.84元/股，回购最低价格人民币18.4元/股，使用资金总额人民币约1.47亿元。 2024年1至12月份，工业富联的营业收入构成为：云服务设备占比52.43%，通信网络设备占比47.26%， 工业互联网占比0.15%，其他业务占比0.15%。 ...

Investment Rating - The report assigns a "Buy" rating for the company, indicating a positive outlook for its stock performance [5]. Core Insights - The company is benefiting from strong demand for AI cloud products, with a nearly 40% increase in net profit in the first half of 2025, reaching a historical high. The growth is expected to continue due to advantages in industrial internet, 5G, and AI sectors [5][7]. - The company’s net profit forecasts for 2024 and 2025 are set at 16 billion RMB and 20 billion RMB, respectively, with year-over-year growth rates of -14% and +24% [5]. - The stock is currently trading at a price-to-earnings (P/E) ratio of 18 times for 2024 and 14 times for 2025, with a dividend yield of 3.1% for 2025 [5][7]. Company Overview - The company operates in the electronics industry, with a stock price of 23.98 RMB as of July 7, 2025. The market capitalization is approximately 476.2 billion RMB [2]. - Major shareholders include China Galaxy Enterprises Limited, holding 36.72% of shares [2]. - The product mix consists of 61% communication network equipment, 34% cloud service equipment, and 5% other products [2]. Financial Performance - The company reported a net profit of 120-122 billion RMB in the first half of 2025, representing a year-over-year increase of 37-39%. The second quarter alone saw net profits of 67.3-69.3 billion RMB, up 48-52% from the previous year [7]. - Revenue from AI server products grew over 60% year-over-year, while the revenue from 800G switches reached three times the total for 2024 [7]. - The company is projected to achieve net profits of 29.7 billion RMB, 35.7 billion RMB, and 41.2 billion RMB for the years 2025, 2026, and 2027, respectively, with corresponding year-over-year growth rates of 28%, 20%, and 15% [6][7]. Market Position - The company maintains a leading market share in the global server market, with expectations for continued growth in its cloud computing product line as production ramps up [7]. - The report highlights the rapid growth of AI infrastructure globally, with significant investments in AI capabilities across North America, China, and Europe [7].