南财智讯1月30日电，博杰股份发布2025年度业绩预告，预计2025年全年归属于上市公司股东的净利润 为13,000.00万元—16,000.00万元，同比预增484.16%—618.97%；预计2025年全年归属于上市公司股东 的扣除非经常性损益的净利润为8,000.00万元—11,000.00万元，同比预增794.48%—1,129.92%。报告期 内，公司秉承大客户战略，深度服务海外大客户，匹配客户产品、技术创新需求，拓展产业链需求新增 长点。报告期公司各项经营业务有序开展，主营业务销售收入持续增长，同时由于增长性业务拥有较高 的技术附加值，结合公司精益化的管理，实现盈利大幅提升。1、伴随国内外AI模型迭代、算力基础设 施扩张与云服务商持续加大投入，推动国内外AI服务器与数据云行业实现规模与结构的双重高增长。 公司通过紧跟大客户业务拓展需求及与大客户保持紧密沟通、合作，不断拓展为大客户服务的业务宽 度，布局电测、功能测试、老化等全链条测试解决方案等，自主研发液冷模组，实现风冷到液冷测试设 备技术升级，通过大客户认证并开始批量交付相关测试设备及模组，助力公司AI服务器和数据云服务 业务快速增长。2、在新能 ...

（文章来源：每日经济新闻） 博杰股份（002975.SZ）1月29日在投资者互动平台表示，公司有向客户供应电测、功能测试设备，其中 部分功能测试设备有应用于老化测试领域。 每经AI快讯，有投资者在投资者互动平台提问：请问公司给海外N客户提供的产品包括老化测试吗？ ...

Core Viewpoint - The company Suzhou Lieqi Intelligent Equipment Co., Ltd. (Lieqi Intelligent) is accelerating its IPO process, benefiting from its partnership with Zhongji Xuchuang, a leading global supplier of optical modules, particularly in the AI era. The collaboration has significantly driven Lieqi Intelligent's revenue growth, with a substantial portion of its income derived from Zhongji Xuchuang's orders. Group 1 - Lieqi Intelligent's revenue from Zhongji Xuchuang accounted for 57.12%, 62.19%, 58.85%, and 65.55% during the reporting period from 2022 to the first half of 2025 [1][6][33] - The company has seen a revenue increase of 274% and a fivefold increase in net profit from 2022 to 2024, driven by its stable partnership with Zhongji Xuchuang [6][33][34] - The company plans to raise 913 million yuan through its IPO, with 582 million yuan allocated for intelligent production line construction and 251 million yuan for R&D center development [2][30][31] Group 2 - Lieqi Intelligent's R&D investment has a compound annual growth rate of 90.71% from 2022 to 2024, supporting the technological upgrades required by Zhongji Xuchuang [1][28][37] - The company has achieved a global market share ranking of first in optical module placement equipment and second in optical module coupling equipment [2][29][37] - The company has signed significant contracts with Zhongji Xuchuang, totaling 334 million yuan for optical module packaging testing equipment from April 2022 to May 2025 [4][31][32] Group 3 - The company has a high dependency on its top five customers, which contribute approximately 80% of its revenue, with Zhongji Xuchuang being the largest [11][14][37] - Lieqi Intelligent's main products include placement equipment, coupling equipment, aging testing equipment, and automation solutions, which are essential for the optical module packaging process [11][38] - The company has faced challenges with accounts receivable, which accounted for 40% of its revenue, primarily from Zhongji Xuchuang, and has reported negative cash flow from operating activities in the first half of 2025 [18][20][30]

Company and Industry Summary Company: Jindawei Key Financial Performance - In Q1 2025, Jindawei reported revenue of 152 million, a year-on-year increase of 83%, with semiconductor business contributing 111 million, although gross margin declined to 27% [2][3] - For 2024, display business revenue was 553 million, a 2% decrease year-on-year, with a gross margin of 33%. Growth in 2025 is expected from 8.6 generation line testing equipment, with revenue anticipated to remain flat and gross margin improving to approximately 45% [2][5] Semiconductor Business Insights - Jindawei's semiconductor business achieved significant growth in 2024, with revenue reaching 249 million, a twofold increase, primarily driven by demand from Changxin and Peidun. The gross margin for this segment was 32.38%, up by 5.54 percentage points due to scale delivery [3] - The company expects to secure at least 1.3 billion in orders for 2025, with 60% from the semiconductor sector, translating to approximately 800 million in new orders, of which testing machine orders account for 20-30%, around 250 million [3][7] Market Potential and Growth Projections - The semiconductor industry's long-term market potential is estimated based on an annual expansion of 50,000 wafers, corresponding to a 2.5 billion market for testing equipment and probe cards. Jindawei's market share assumptions are 40% for aging equipment and probe cards, and 30% for CP and FT testing machines [4][9] - Peak revenue for the semiconductor business is projected to reach 1.6 billion, with a net margin of 30%, resulting in profits of approximately 333 to 355 million. The conservative long-term market valuation for the company could exceed 12 billion, indicating substantial growth potential [4][9] Display Business Outlook - The display business is expected to maintain revenue levels in 2025, with gross margin projected to improve to 45% as the share of 8.6 generation line revenue increases [5][7] Product Development and Market Position - Jindawei continues to enhance its market share in probe cards and aging testing equipment. The company secured bulk orders for general testing machines and has begun validation of FT testing machines at customer sites [6] - Ongoing developments include high-speed FT testing machines and upgraded CP testing instruments, with new products like SoC testing machines and NAND Flash testing systems in the pipeline, positioning the company as a potential leader in the testing machine sector [6] Stock Price Catalysts - Key factors that may catalyze the company's stock price include the impact of HBM-related tenders and listings from Changxin Technology, as well as the progress of new product validations [10]