锐捷网络所属申万行业为：通信-通信设备-通信网络设备及器件。所属概念板块包括：百度概念、交换 机、IDC概念（数据中心）、字节跳动概念、液冷概念等。 截至6月30日，锐捷网络股东户数2.55万，较上期减少13.22%；人均流通股3746股，较上期增加 61.32%。2025年1月-6月，锐捷网络实现营业收入66.49亿元，同比增长31.84%；归母净利润4.52亿元， 同比增长194.00%。 分红方面，锐捷网络A股上市后累计派现11.17亿元。 9月8日，锐捷网络盘中下跌2.12%，截至09:49，报83.47元/股，成交2.38亿元，换手率2.95%，总市值 663.97亿元。 资金流向方面，主力资金净流出2138.89万元，特大单买入1585.21万元，占比6.67%，卖出2823.76万 元，占比11.89%；大单买入4063.40万元，占比17.11%，卖出4963.74万元，占比20.90%。 锐捷网络今年以来股价涨63.22%，近5个交易日跌19.44%，近20日涨28.61%，近60日涨61.89%。 今年以来锐捷网络已经1次登上龙虎榜，最近一次登上龙虎榜为8月18日，当日龙虎榜净买入1.17 ...

Company Overview - Ruijie Networks, established on October 28, 2003, is located in Haidian District, Beijing, and was listed on November 21, 2022. The company specializes in the research, design, and sales of network equipment, network security products, and cloud desktop solutions [1] - The revenue composition of Ruijie Networks is as follows: network equipment accounts for 87.85%, other products 6.12%, network security products 3.19%, and cloud desktop solutions 2.84% [1] Stock Performance - On August 29, Ruijie Networks' stock fell by 5.01%, trading at 89.01 CNY per share, with a transaction volume of 555 million CNY and a turnover rate of 6.48%. The total market capitalization is 70.803 billion CNY [1] Shareholder Information - Among the top ten circulating shareholders of Ruijie Networks, Huatai-PineBridge Fund's Huatai Digital Future Mixed A (011399) entered the list in the second quarter, holding 1.0671 million shares, which is 1.12% of the circulating shares. The estimated floating loss today is approximately 5.0049 million CNY [2] - Huatai Digital Future Mixed A was established on February 24, 2021, with a latest scale of 3.212 billion CNY. Year-to-date returns are 47.95%, ranking 719 out of 8189 in its category; over the past year, returns are 75.31%, ranking 1045 out of 7969; since inception, it has a loss of 9.84% [2]

Group 1 - The core viewpoint of the news highlights the recent performance and financial metrics of Ruijie Networks, indicating a significant increase in stock price and trading activity [1][2] - As of August 22, Ruijie Networks' stock price rose by 62.07% year-to-date, with a 21.51% increase over the last five trading days and a 74.92% increase over the last 60 days [1] - The company has a market capitalization of 65.93 billion yuan and reported a trading volume of 277 million yuan on August 22, with a turnover rate of 3.56% [1] Group 2 - For the first half of 2025, Ruijie Networks achieved a revenue of 6.649 billion yuan, reflecting a year-on-year growth of 31.84% [2] - The number of shareholders decreased by 13.22% to 25,500, while the average circulating shares per person increased by 61.32% to 3,746 shares [2] - Since its A-share listing, Ruijie Networks has distributed a total of 1.117 billion yuan in dividends [2]

| 2025 年半年度报告全文 | 锐捷网络股份有限公司 | 锐捷网络股份有限公司 | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 公告编号：2025-025 | 2025 年半年度报告全文 | 锐捷网络股份有限公司 | | | | | | | | | | 公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容的 | 真实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担个别 | | | | | | | | | | | 和连带的法律责任。 | 公司负责人阮加勇、主管会计工作负责人刘弘瑜及会计机构负责人(会计 | | | | | | | | | | | 主管人员)徐继勇声明：保证本半年度报告中财务报告的真实、准确、完整。 | 所有董事均已出席了审议本次半年报的董事会会议。 | | | | | | | | | | | 本报告中涉及的公司未来计划等前瞻性陈述，不构成公司对投资者的实质 | 性承诺，投资者及相关人士均应对此保持足够的风险认识，并应当理解计划、 | | | | ...

Investment Rating - The report maintains an "Outperform" rating for the company [3][8]. Core Views - The company benefits from the domestic AI development, leading to a significant surge in data center switch sales, with revenue growth exceeding expectations [1][3]. - Revenue forecasts for 2025-2027 are adjusted to 13.84 billion RMB, 16.10 billion RMB, and 18.14 billion RMB, with net profit attributable to shareholders projected at 771 million RMB, 1.01 billion RMB, and 1.20 billion RMB respectively [3][8]. - The company has achieved the top market share in the 200G/400G data center switch segment and leads the domestic internet market for data center switches [3][8]. Financial Summary - For 2024, the company expects revenue of 11.70 billion RMB, a year-on-year increase of 1.36%, with a gross profit margin of 38.62% [3][8]. - The net profit attributable to shareholders for 2024 is projected at 574 million RMB, reflecting a year-on-year increase of 43.09% [3][8]. - The first quarter of 2025 shows revenue of 2.54 billion RMB, a year-on-year increase of 18.14%, with a net profit attributable to shareholders of 107 million RMB, a staggering year-on-year increase of 4543.67% [3][8]. Market Performance - The company's network equipment revenue for 2024 is expected to reach 9.65 billion RMB, a year-on-year increase of 14.90%, with data center switch revenue soaring by 120% [3][8]. - The overseas market revenue for 2024 is projected at 1.87 billion RMB, a year-on-year increase of 52.72%, indicating successful international market expansion [3][8].