证券代码：601138 证券简称：工业富联 公告编号：2025-007 富士康工业互联网股份有限公司 关于以集中竞价交易方式回购股份的进展公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： | 回购方案首次披露日 | 2024/7/31 | | | | --- | --- | --- | --- | | 回购方案实施期限 | 2024 年 9 月 23 日~2025 年 9 月 | 日 | 22 | | 预计回购金额 | 万元~30,000 万元 20,000 | | | | 回购用途 | √减少注册资本 □用于员工持股计划或股权激励 □用于转换公司可转债 | | | | | □为维护公司价值及股东权益 | | | | 累计已回购股数 | 万股 429.35 | | | | 累计已回购股数占总股本比例 | 0.02% | | | | 累计已回购金额 | 9,597.6538 万元 | | | | 实际回购价格区间 | 22.05 元/股~22.74 元/股 | | | 一、 回购股份的基本情况 富士康工业互联 ...

证券代码：601138 证券简称：工业富联 公告编号：2024-084 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 1、截至 2024 年 11 月 30 日，公司尚未实施股份回购。 2、2024 年 12 月 3 日，公司通过上海证券交易所交易系统以集中竞价交易方 式首次回购公司股份 2,246,900 股，占公司目前总股本的 0.01%，回购最高价格人 民币 22.55 元/股，回购最低价格人民币 22.05 元/股，使用资金总额人民币 49,985,408.00 元（不含交易佣金、过户费等交易费用）。 重要内容提示： | 回购方案首次披露日 | 2024/7/31 | | | | --- | --- | --- | --- | | 回购方案实施期限 | 2024 年 9 月 23 日~2025 年 9 月 | 22 | 日 | | 预计回购金额 | 万元~30,000 万元 20,000 | | | | 回购用途 | √减少注册资本 □用于员工持股计划或股权激励 | | | | | □用于转换公司可转债 | | | ...

Group 1: Revenue Growth and Profitability - The company's revenue growth is significantly driven by the product mix, with AI server revenue increasing by 228% year-on-year, accounting for 45% of total server revenue [3] - In Q3 2024, the company achieved its best quarterly performance since its listing, with revenue, gross profit, and net profit all reaching historical highs [3] - Excluding foreign exchange impacts, net profit attributable to shareholders grew by 11% year-on-year [3] Group 2: AI Technology and Product Development - The company anticipates substantial growth in profitability driven by AI technology, with plans for large-scale launches of products related to GB200 and AI in the coming year [3] - The company has established a comprehensive production capability across key components in the AI supply chain, positioning itself as a unique supplier in the industry [3] Group 3: Cooling Solutions and Market Potential - The company is focusing on liquid cooling solutions, which are expected to contribute significantly to revenue growth due to the increasing demand for high-reliability and high-density data center equipment [3] - According to Goldman Sachs, the value of cooling solutions is projected to increase from $2,000 for general servers to $75,000 for GB200, indicating a substantial market opportunity [3] Group 4: Networking Products and AI Impact - The Smart NIC/DPU and high-speed switches have shown remarkable growth, with Smart NIC/DPU revenue increasing by 200% year-on-year in the first three quarters of 2024 [5] - The revenue from 400/800G high-speed switches grew by 128% year-on-year in Q3 2024, with a quarter-on-quarter increase of 27% [5]

证券代码：601138 证券简称：工业富联 公告编号：临 2024-082 号 富士康工业互联网股份有限公司 关于召开 2024 年第三季度网上业绩说明会的公告 三、参加人员 公司董事长、总经理郑弘孟先生（代行财务总监职责）、独立董事廖翠萍女士、董 事会秘书刘宗长先生将参加本次说明会。 会议召开时间：2024 年 11 月 21 日（星期四）下午 15:00-16:00； 会议召开方式：本次业绩说明会不设现场会议，将通过网络方式召开。投资 者可直接登录深圳市路演中网络科技有限公司网站在线参与本次说明会，网 址为：https://www.roadshowchina.cn/Meet/detail.html?mid=24141； 投资者提问可于 2024 年 11 月 20 日（星期三）上午 12:00 前通过电子邮件的 方式发送至富士康工业互联网股份有限公司（以下简称"公司"）投资者关系 邮箱（ir@fii-foxconn.com），公司将在 2024 年第三季度业绩说明会上就投资 者普遍关注的问题进行统一回答。 （如有特殊情况，参会人员可能进行调整） 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导 ...

证券代码：601138 证券简称：工业富联 公告编号：临 2024-081 号 富士康工业互联网股份有限公司 关于 2019 年股票期权与限制性股票激励计划 部分预留授予第五个行权期符合行权条件的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或 者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 一、股权激励计划批准及实施情况 （一）股权激励计划主要内容 富士康工业互联网股份有限公司（以下简称"公司"）2019 年股权激励计划包括 股票期权激励计划和限制性股票激励计划两部分，股票来源为公司向激励对象定向发 行本公司 A 股普通股。根据《富士康工业互联网股份有限公司 2019 年股票期权与限 制性股票激励计划（草案修订稿）》（以下简称"《激励计划（草案修订稿）》"），本激励 计划拟向激励对象授予权益总计 225,000,000 份，约占本激励计划草案公告日公司股 本总额 19,695,300,222 股的 1.14%。其中首次授予权益总数 180,000,000 份，约占本激 励计划草案公告日公司股本总额 19,695,300,222 股的 0.91%；预留授 ...

Investment Rating - The investment rating for the company is "Outperform the Market" and is maintained [1]. Core Views - The report highlights strong growth in AI servers driven by increased demand for cloud infrastructure, with a year-on-year revenue growth of 71% in the cloud computing business and a remarkable 228% growth in AI server revenue [5]. - The company has shown robust financial performance with a revenue of 436.37 billion yuan for the first three quarters, representing a year-on-year increase of 32.71%, and a net profit of 15.14 billion yuan, up 12.28% year-on-year [4]. - The report anticipates continued revenue growth, projecting revenues of 610.74 billion yuan, 789.46 billion yuan, and 927.72 billion yuan for 2024, 2025, and 2026 respectively [6][11]. Summary by Sections Financial Performance - For Q3 2024, the company reported revenue of 170.28 billion yuan, a year-on-year increase of 39.53% and a quarter-on-quarter increase of 15.52%. The net profit for the same period was 6.40 billion yuan, up 1.24% year-on-year and 40.57% quarter-on-quarter [4]. - The gross margin for Q3 2024 was 6.97%, showing a year-on-year decrease of 2.32 percentage points but an increase of 0.96 percentage points from the previous quarter [4]. Market Trends - The report notes a significant increase in capital expenditures from North American cloud providers, with Amazon, Microsoft, Google, and META showing year-on-year growth rates of 88%, 50%, 62%, and 41% respectively [6]. - The demand for high-speed network equipment has surged, with revenue from 400/800G high-speed switches increasing by 128% year-on-year and 27% quarter-on-quarter in Q3 2024 [5]. Revenue Projections - The company is expected to achieve revenues of 610.74 billion yuan in 2024, with a year-on-year growth rate of 28.22%, and further growth projected for the following years [11]. - The report provides a valuation range for the company, suggesting a target price of 23.51 to 29.39 yuan based on a price-to-earnings ratio of 20-25 times for 2024 [6].

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Insights - The demand for AI servers is strong, and revenue from cloud computing continues to grow [1] - In the first three quarters of 2024, the company achieved revenue of 436.4 billion yuan, a year-on-year increase of 33%, and a net profit attributable to shareholders of 15.1 billion yuan, a year-on-year increase of 12% [1] - The company's cloud computing business revenue grew by 71% year-on-year in the first three quarters of 2024, with AI server revenue increasing by 228% year-on-year, accounting for 45% of total server revenue [1] - The company expects revenue for 2024-2026 to be 571.6 billion, 594.5 billion, and 615.3 billion yuan, with net profits of 25.3 billion, 28 billion, and 30.1 billion yuan respectively [1][4] Financial Performance Summary - In Q3 2024, the company achieved revenue of 170.3 billion yuan, a quarter-on-quarter increase of 16% and a year-on-year increase of 40% [1] - The net profit for Q3 2024 was 6.4 billion yuan, with a quarter-on-quarter increase of 41% and a year-on-year increase of 1% [1] - The gross profit margin is projected to be 7.3% for 2024, with a return on equity (ROE) of 15.4% [4][5] - The earnings per share (EPS) for 2024 is expected to be 1.27 yuan, with a price-to-earnings (P/E) ratio of 19 [4]

Investment Rating - The investment rating for the company is "Accumulate" (maintained) [1] Core Views - The demand for AI servers is strong, leading to continuous growth in cloud computing revenue. In the first three quarters of 2024, the company's cloud computing business revenue increased by 71% year-on-year, with AI server revenue growing by 228%, accounting for 45% of total server revenue [1][2] - The company achieved a revenue of 436.4 billion yuan in the first three quarters of 2024, representing a year-on-year growth of 33%. The net profit attributable to the parent company was 15.1 billion yuan, a year-on-year increase of 12% [1] - The report forecasts the company's operating revenue for 2024-2026 to be 571.6 billion, 594.5 billion, and 615.3 billion yuan, with net profits of 25.3 billion, 28 billion, and 30.1 billion yuan respectively [1][2] Financial Performance - In Q3 2024, the company achieved a revenue of 170.3 billion yuan, a quarter-on-quarter increase of 16% and a year-on-year increase of 40%. The net profit for the same period was 6.4 billion yuan, with a quarter-on-quarter growth of 41% and a year-on-year growth of 1% [1] - The company's total market capitalization is 480.4 billion yuan, with a circulating market capitalization of 480.3 billion yuan [1] - The report provides key financial metrics for 2025E and 2026E, including operating revenue, net profit, and key ratios such as gross margin and ROE [2]

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The company has shown rapid growth, with a focus on two main themes: cloud computing and network communication [1] - In Q3 2024, the company achieved operating revenue of 436.37 billion yuan, a year-on-year increase of 32.71%, and a net profit attributable to shareholders of 15.14 billion yuan, up 12.28% [1] - The company's revenue and net profit for Q3 increased by 39.53% and 1.24% respectively, indicating strong growth driven by cloud computing and network communication businesses [1] Summary by Relevant Sections Financial Performance - In Q3 2024, the company reported a revenue of 170.28 billion yuan, a year-on-year increase of 39.53%, and a net profit of 6.40 billion yuan, reflecting a growth of 1.24% [1] - The company’s cloud computing revenue grew by 71% year-on-year, with AI server revenue increasing by 228% [1] - The company’s operating revenue for the first three quarters of 2024 is projected to be 598.85 billion yuan, with a year-on-year growth of 21.35% [2] Future Outlook - The company is expected to benefit from the acceleration of AI infrastructure development and the ongoing prosperity of AI applications [1] - Revenue projections for 2024-2026 are 598.85 billion yuan, 723.81 billion yuan, and 787.08 billion yuan respectively, with corresponding year-on-year growth rates of 21.35%, 24.42%, and 8.74% [2] - The net profit for the same period is projected to be 25.53 billion yuan, 31.77 billion yuan, and 36.40 billion yuan, with growth rates of 21.3%, 24.4%, and 14.6% respectively [2]

Investment Rating - The report maintains an "Outperform" rating for the company [1][3][14] Core Views - The company reported a 33% year-on-year revenue growth in the first three quarters, with a significant increase in AI server revenue contributing to this growth [1] - The third quarter saw a record high in revenue, with a 39.53% year-on-year increase, although net profit was impacted by foreign exchange effects [1] - The cloud computing business is expected to benefit from the rapid development of AI and the large-scale construction of computing infrastructure globally [1] Revenue and Profit Summary - For the first three quarters of 2024, the company achieved a revenue of 436.37 billion yuan, a year-on-year increase of 32.71%, and a net profit of 15.14 billion yuan, up 12.28% year-on-year [1][2] - The third quarter revenue reached 170.28 billion yuan, marking a 39.53% increase year-on-year and a 15.52% increase quarter-on-quarter [1] - AI server revenue grew by 228% year-on-year, accounting for 45% of total server revenue in the first three quarters [1] Financial Forecasts - Projected revenues for 2024, 2025, and 2026 are 581.09 billion yuan, 680.14 billion yuan, and 765.78 billion yuan respectively, with corresponding net profits of 24.75 billion yuan, 29.03 billion yuan, and 33.87 billion yuan [1][2] - The company's price-to-earnings (P/E) ratios for the next three years are projected to be 16.6, 14.1, and 12.1 respectively [1][2] Business Segment Performance - The cloud computing segment's revenue grew by 71% year-on-year, with AI server revenue significantly driving this growth [1] - The telecommunications and mobile network equipment segment also saw steady growth, particularly in high-speed switches and Smart NIC/DPU boards, with a 128% year-on-year increase in 400/800G switch revenue in the third quarter [1]