中际旭创财报显示，公司Q1营收大增37.82%至66.74亿元，归母净利润同比增长56.83%至15.83亿元。更为关键的是，公司扣除非经常性损益的净利润同比增长58.39%至15.68亿元，显示公司核心业务盈利能力显著提升。Zhongji Innolight's Q1 report shows impressive performance, benefited by the growth in computing infrastructure and related capital expenditures. The increased demand for 800G/400G high-end optical modules has driven revenue, net income, and net income excluding non-recurring items to grow year-on-year by 37.8%, 56.8%, and 58.4%, respectively.
Benefiting from the growth of computing power infrastructure and related capital expenditures, the demand for 800G and 400G high-end optical modules has increased, and Zhongji Innolight's core profitability continues to strengthen.
On the 20th, Zhongji Innolight released the Q1 report for 2025:
- Revenue: Q1 revenue is 6.742 billion yuan, a year-on-year increase of 37.82%;
- Net income: net income attributable to shareholders of the listed company is 1.583 billion yuan, a year-on-year increase of 56.83%;
- Excluding non-recurring net income: Q1 non-recurring net income is 1.568 billion yuan, a year-on-year increase of 58.39%;
- EPS: basic earnings per share is 1.44 yuan, a year-on-year increase of 54.84%;
- Cash flow: net cash flow from operating activities is 2.164 billion yuan, a year-on-year increase of 232.74%, mainly due to increased sales receipts.
Net income increased by 57% year-on-year, with high-end optical modules becoming the growth engine.
Zhongji Innolight's Earnings Reports show that the company's Q1 revenue surged by 37.82% to 6.674 billion yuan, and the net income attributable to shareholders increased by 56.83% year-on-year to 1.583 billion yuan. More importantly, the net income excluding non-recurring gains and losses grew by 58.39% year-on-year to 1.568 billion yuan, indicating a significant improvement in the profitability of the company's core business.
From the revenue composition, the company's business growth mainly comes from the high-end optical module sector. According to the Earnings Reports, the growth of computing infrastructure construction and related capital expenditures has led to an increase in the sales of high-end optical modules such as 800G and 400G, becoming the key engine for the company's revenue growth.
From the profitability indicators, the company's basic EPS reached 1.44 yuan in the first quarter, an increase of 54.84% year-on-year; the diluted EPS was 1.43 yuan, increasing by 57.14% year-on-year. The weighted average return on equity was 7.94%, up 1.12 percentage points from 6.82% in the same period last year, reflecting an improvement in the efficiency of asset utilization.
It is worth noting that the company's net cash flow from operating activities reached 2.164 billion yuan, an increase of 232.74% compared to 0.651 billion yuan in the same period last year. This figure not only greatly exceeds the net income level for the same period but also indicates that the company has achieved good cash flow management amidst rapid business growth, with significant improvements in sales collection.
As of the end of the reporting period, the company’s total assets were 31.583 billion yuan, an increase of 9.41% from the end of the previous year; the equity attributable to shareholders of the listed company was 20.715 billion yuan, an increase of 8.26% from the end of the previous year. The company's MMF reached 7.124 billion yuan, an increase of 40.95% compared to 5.054 billion yuan at the end of the previous year, providing strong support for the company’s future business expansion.
