康希通信 20260126 摘要 康熙通信在 337 调查中初裁胜诉，证明其射频前端芯片核心技术无侵权， 为公司技术实力提供背书，并为美国市场出口提供法律支撑，利于全球 化战略推进。 公司积极应对 Skyworks 指控，组建专业应诉团队，系统梳理技术细节， 配合 ITC 调查，并针对对方专利提起 IPR 程序和国内专利诉讼，形成有 效反制。 胜诉打破海外巨头利用专利壁垒遏制中国半导体企业出海的套路，为国 内同行提供维权经验，激励自主创新和国际化发展，对行业发展具有重 要意义。 初裁胜诉意味着康熙通信产品可继续进入美国市场，提振欧洲、东南亚 等客户信心，有利于全球市场开拓，并加速 WiFi 7、WiFi 8 等新技术产 品推广。 公司 2024 年因专利诉讼及 337 调查花费 3,884 万元，2025 年前三季 度已支付 5,060 万元，预计全年超 9,000 万元，胜诉后诉讼费用有望大 幅降低，改善现金流和盈利。 Q&A 康熙通信在 337 调查中取得胜诉的关键因素是什么？ 康熙通信在 337 调查中取得胜诉的关键因素主要包括以下几个方面：首先，公 司拥有扎实的技术实力和自主研发能力。公司在功率放大器 ...

Financial Performance - Cisco reported Q1 revenue of $14.88 billion, an 8% year-over-year increase, and a non-GAAP EPS of $1.00, up 10%, both exceeding Wall Street expectations [1][3] - The company has achieved revenue growth for four consecutive quarters [1] - GAAP gross margin was 65.5%, and non-GAAP operating margin was 34.4%, both above guidance ranges [3] Core Business Progress - AI infrastructure orders from hyperscale customers reached $1.3 billion, significantly up from $800 million in the previous quarter, indicating strong demand in the AI sector [3] - Product orders grew by 13% year-over-year, with network product orders achieving double-digit growth for the fifth consecutive quarter [3][4] - The networking business saw a revenue increase of 15% to $7.77 billion, surpassing analyst expectations [4] Strategic Development - Cisco launched a new Ethernet switch based on NVIDIA chips to enhance its competitive position against rivals [3] - The company is focusing on upgrading AI network equipment and has initiated a multi-year, multi-billion dollar upgrade cycle in campus networking [4] - Cisco plans to strengthen its software and security business through a $28 billion acquisition of Splunk, aiming for business diversification [3]