盈利和债务承压。 作者 | 木鱼 编辑 | 小白 2025年初，英伟达推出的GB200 NVL72服务器，单台需使用5000多根铜缆。AI算力需求爆发，新一 代AI基础设施大规模部署，数据中心正在进行一场技术革命。高频高速线缆作为连接各类计算单元 的"神经网络"，正悄然成为市场新焦点。 根据LightCounting的预测，全球高速线缆市场规模将从2023年的12亿美元增长至2028年的28亿美元， 未来五年内实现翻倍增长。其中高速铜缆将贡献主要增量，DAC（无源直连铜缆）、AEC（有源电 缆）年复合增长率将分别达25%、45%。 也是在年初，一家上市公司在互动易上透露，其通过全球连接器巨头安费诺，已成功进入戴尔、惠 普、浪潮、谷歌、亚马逊、微软、甲骨文、中科曙光、新华三等知名服务器制造商提供优质高频高速 数据线材。 2025年上半年，新亚电子实现营业收入19.45亿元，同比增长了19.57%，实现归母净利润9,917.61万 元，同比增长了31.83%。 （来源：新亚电子2025年半年报） 比起业绩，市场更关注他的技术突破。 2025年上半年，新亚电子与安费诺联合技术攻关，推出高速铜缆"藕芯结构"技术方案， ...

Core Insights - New Asia Electronics (605277) reported a revenue of 3.531 billion yuan for 2024, representing a year-on-year growth of 10.84%, with a net profit of 153 million yuan, up 6% [1] - The company demonstrated strong operational resilience through product structure optimization, deepening industry chain layout, and accelerating internationalization despite macroeconomic pressures and intensified industry competition [1] Revenue Breakdown - The revenue growth was primarily driven by strong performance in consumer electronics and industrial control cables, new energy cables and components, and automotive cables [1] - In the consumer electronics and industrial control cable segment, revenue reached 1.386 billion yuan, a year-on-year increase of 22.99% [1] - The communication cable and data cable segment experienced a revenue decline of 16.29% due to the slowdown in 5G base station construction; however, high-frequency and high-speed data cable business grew by 102.88% [2] Investment and R&D - New Asia Electronics invested over 70 million yuan in advanced equipment for AI servers and data centers, achieving mass delivery of PCIe 6.0 and completing R&D for PCIe 7.0 [2] - The company reported R&D expenses of 125 million yuan, with 10 new invention patents and 23 utility model patents added during the reporting period [2] Strategic Expansion - The company is transitioning from a single "cable" manufacturer to a comprehensive solution provider for "cables + connectors" through acquisitions and partnerships, including the acquisition of Zhongde Cable and investment in Kebo Optoelectronics [3] - New Asia Electronics is accelerating its global production layout, establishing manufacturing bases in Thailand, Mexico, and Hungary to create a localized overseas operational system [3] Future Goals - The company aims to achieve a revenue target of 4 billion yuan by 2025, focusing on expanding its product applications in "artificial intelligence+" and ensuring comprehensive growth across its business segments [4] - The first quarter of 2025 showed a revenue of 882 million yuan, a year-on-year increase of 27.39%, with a net profit of 47.27 million yuan, up 18.82% [4]