证券日报网讯中航光电（002179）10月31日发布公告，在公司回答调研者提问时表示，在数据中心领 域，公司产品包括电源类产品、光传输器件及组件类产品、液冷散热类产品(包括流体连接器、冷板、 分水器、管路、冷源、Tank、液冷集装箱等)、高速类产品(包括IT设备用高速标准接口、高速铜缆、高 速背板连接器及组件等)。业务主要涉及产业上游的芯片、硬盘、电源设备等厂商；中游的IT设备商； 以及下游的互联网、运营商、政、企、金融等终端用户。公司依托自主研发，紧抓AI算力发展机遇， 准确把握技术演进方向，深度挖掘客户需求，筑牢液冷散热类产品先发优势，加速电源与高速产品市场 推广。同时公司也将紧跟国内头部客户，加大国际化开拓力度，加大资源配置，推动客户资源池拓展与 新业务的突破，为数据中心领域客户提供覆盖电源、光纤、高速及液冷产品的整体解决方案。 ...

调研基本情况 投资者活动关系类别、时间与地点 本次投资者关系活动类别为业绩说明会，活动地点位于中航光电周山厂区Z1楼1920会议室，采用"进门 财经网络直播+电话会议"形式进行。 参与机构与接待人员 参与本次调研的机构投资者超80家，涵盖公募基金、私募基金、券商、保险资管等多个领域，包括创金 合信基金、工银瑞信基金、华夏基金、易方达基金、广发证券、中金公司、大家保险、泰康资产管理等 知名机构，同时有部分个人投资者参与。 上市公司接待人员包括：董事、总经理李森，总会计师、董事会秘书王亚歌，股东与证券事务办公室主 任、证券事务代表赵丹。 2025年三季度经营核心数据与业务亮点 前三季度营收稳健增长，净利润承压 公告显示，中航光电2025年前三季度实现营业收入158.38亿元，同比增长12.36%；但受毛利率下滑影 响，净利润同比下降30.89%。前三季度综合毛利率为29.70%，较上年同期下降约6.9个百分点，主要因 业务结构变化、市场端经济性压力、客户降价及上游大宗原材料涨价等因素叠加所致。 单三季度来看，公司实现销售收入46.54亿元，净利润2.9亿元，净利润同比、环比均出现较大下滑，主 要受防务业务阶段性波 ...

Group 1: Financial Performance - In Q1 2025, the company achieved a total sales revenue of 4.839 billion CNY, representing a year-on-year growth of 20.56% [2] - The net profit attributable to shareholders was 640 million CNY, showing a year-on-year decline of 14.78% [2] - The gross profit margin has decreased compared to the same period last year due to three main factors: delayed defense business orders, a decline in the proportion of high-margin products, and rising raw material prices [3] Group 2: Business Segments and Growth - The defense sector is experiencing a recovery in order volume, with expectations of a significant narrowing of performance decline by mid-year [3] - The high-end manufacturing sector, particularly in the new energy vehicle and data center businesses, has seen rapid growth [4] - The company is focusing on expanding its customer base in solar energy storage, industrial, and medical sectors [4] Group 3: Operational Strategies - The company plans to enhance capacity layout and resource allocation to meet increasing demand and delivery pressures [3] - Strategic cost management and digital transformation initiatives are being implemented to improve efficiency and profitability [8] - The company is actively managing accounts receivable and inventory to enhance asset turnover and overall operational quality [9] Group 4: Future Outlook - The company anticipates significant improvements in scale and profitability in Q2 2025, with ongoing monitoring required for Q3 and Q4 [10] - The company aims to maintain a focus on growth, capability enhancement, and high-quality development throughout 2025 [10] - The data center business is expected to continue its rapid growth, driven by demand from AI servers and infrastructure development [11]