Summary of the Conference Call for Xingwang Ruijie Company Overview - The company discussed its performance for the first three quarters, highlighting a revenue of 14.1 billion yuan, a year-on-year increase of 19%, and a net profit of 340 million yuan, up 30% year-on-year [3][2][4]. Key Points Industry and Company Performance - The revenue growth was primarily driven by the rapid development of the data center switch business and overseas operations, although net profit saw a slight decline [2][3]. - Gross margin stood at 31.2%, a decrease of 1.2 percentage points year-on-year, while the expense-to-revenue ratio improved by 4% to 25.96% [2][3]. - Ruijie Network contributed significantly to the company's revenue, accounting for approximately 10.6 billion yuan in revenue and 680 million yuan in net profit [4]. Subsidiary Contributions - Other subsidiaries like Deep City Information, Deming Communications, and Smart Technology are expected to show significant improvement in revenue and profit contributions in the near future [2][4][7]. - The company is focusing on AI hardware infrastructure and applications, including switches and integrated machines, and is exploring the metaverse direction [4][12]. Strategic Initiatives - The company plans to accelerate its transformation towards AI and enhance its overseas business through organizational optimization, product line adjustments, and workforce development [2][8]. - In the financial innovation market, the company offers full-stack services and has deep cooperation with Huawei's HarmonyOS, with a market size expectation of around 20 billion yuan [2][9][10]. Future Outlook - The financial innovation sector's construction is expected to be completed by 2027-2028, with the company anticipating significant growth in this area [10]. - The company is actively seeking suitable acquisition targets, particularly in the optical communication and AI-related fields, to expand its overseas market presence [17]. AI and Emerging Technologies - The company is committed to AI-related hardware and industry applications, with plans to enhance operational efficiency in sectors like education, finance, and healthcare [12][26]. - The brain-computer interface project is in a mature experimental stage, with expectations to launch commercially by the end of this year or early next year [18]. Market Demand and Growth Drivers - Key growth drivers for the communication sector in 2026 include FTTO (Fiber To The Office) and the demand for all-optical network construction from operators [22]. - The company plans to leverage its established channels in the financial sector and expand into other industries for immersive experience products [24]. Shareholder Returns and Corporate Governance - The company aims to maximize shareholder returns by improving internal operational efficiency and maintaining good communication with investors [29]. Conclusion - Xingwang Ruijie is positioned to capitalize on the growing demand for AI and communication technologies, with a strategic focus on enhancing its product offerings and expanding its market reach both domestically and internationally [25][27].

（文章来源：证券日报） 证券日报网讯 10月21日晚间，星网锐捷发布公告称，公司于2025年10月20日召开了第七届董事会第十 四次会议和第七届监事会第七次会议，审议通过了《关于2025年前三季度计提资产减值准备的议案》， 为真实反映公司2025年前三季度的财务状况和经营成果，按照《企业会计准则》的相关规定，公司合并 报表范围内各公司对所属资产进行了减值测试，并对其中存在减值迹象的资产相应计提了减值准备。公 司及下属子公司对2025年三季度末的各类资产进行了全面清查和资产减值测试后，计提各项资产减值准 备共计8，649.52万元。 ...

证券日报网讯 10月21日晚间，星网锐捷发布2025年第三季度报告称，2025年第三季度公司实现营业收 入5，281，893，142.75元，同比增长15.12%；归属于上市公司股东的净利润为132，470，659.13元， 同比下降3.74%。 （文章来源：证券日报） ...

（文章来源：智通财经） 星网锐捷10月21日公告，第三季度营收为52.82亿元，同比增长15.12%；归母净利润为1.32亿元，同比 下降3.74%。前三季度营收为141.68亿元，同比增长19.20%；归母净利润为3.44亿元，同比增长 31.06%。 ...

Group 1 - Pinggao Electric reported a 6.98% increase in revenue to 8.436 billion yuan and a 14.62% increase in net profit to 982 million yuan for the first three quarters of 2025 [1] - Wanchen Group achieved a 77.37% increase in revenue to 36.562 billion yuan and a staggering 917.04% increase in net profit to 855 million yuan for the first three quarters of 2025 [2] - Xintian's revenue decreased by 10.42% to 481 million yuan, with a net profit decline of 35.19% to 91.9 million yuan for the first three quarters of 2025 [3] Group 2 - Chuangye Heima reported a revenue drop of 35.68% to 102 million yuan and a net loss of 24.93 million yuan for the first three quarters of 2025 [4] - Huaxin New Materials saw a 16.11% increase in revenue to 265 million yuan and an 18.56% increase in net profit to 40.81 million yuan for the first three quarters of 2025 [5] - Meihua Medical's revenue increased by 3.28% to 1.194 billion yuan, but net profit fell by 19.25% to 208 million yuan for the first three quarters of 2025 [6] Group 3 - Silica Technology reported a 24.30% increase in revenue to 2.651 billion yuan and a 44.63% increase in net profit to 229 million yuan for the first three quarters of 2025 [7] - Anada experienced a revenue decline of 6.03% to 1.31 billion yuan and a net loss of 46.37 million yuan for the first three quarters of 2025 [8] - StarNet Ruijie achieved a 19.20% increase in revenue to 14.168 billion yuan and a 31.06% increase in net profit to 344 million yuan for the first three quarters of 2025 [9] Group 4 - New Link Electronics reported a revenue decrease of 0.37% to 550 million yuan but a significant net profit increase of 421.43% to 535 million yuan for the first three quarters of 2025 [10] - Tianyin Electromechanical's revenue fell by 22.75% to 581 million yuan, with a net profit decline of 56.10% to 24.27 million yuan for the first three quarters of 2025 [11] - Hengtong Co. reported a revenue decrease of 39.29% to 1.05 billion yuan, but a net profit increase of 78.33% to 176 million yuan for the first three quarters of 2025 [12] Group 5 - Xigao Institute achieved a 15.05% revenue increase to 651 million yuan and a 21.28% net profit increase to 198 million yuan for the first three quarters of 2025 [13] - Good Housewife reported a revenue decrease of 0.91% to 1.059 billion yuan and a net profit decline of 24.79% to 143 million yuan for the first three quarters of 2025 [14] - China Pharmaceutical's subsidiary received approval for Vitamin B6 injection, indicating a positive development in its product pipeline [20] Group 6 - Xi Zhong Technology received approval for the issuance of convertible bonds, indicating potential for future capital raising [22] - Chengda Bio signed a strategic cooperation agreement with the Chinese Academy of Microbiology, focusing on infectious disease prevention [25] - Fuyuan Pharmaceutical received a drug registration certificate for Dydrogesterone tablets, enhancing its product offerings [26] Group 7 - Zhehai Deman received 8.1202 million yuan in land acquisition compensation, indicating a successful resolution of land-related issues [27] - Zhongjin Irradiation announced the resignation of its deputy general manager, indicating potential changes in management [29] - Hendi Pharmaceutical received a drug registration certificate for Febuxostat tablets, expanding its product portfolio [30] Group 8 - David Medical's subsidiary received a medical device registration certificate for a surgical stapler, enhancing its product offerings [32] - Liaoning Energy announced plans for a share reduction by a major shareholder, indicating potential changes in ownership structure [34] - Fengyuan Co. signed a framework agreement for the supply of lithium iron phosphate, indicating growth in its supply chain [35] Group 9 - Shengda Resources announced the resumption of construction at a mining site, indicating recovery from previous operational disruptions [37] - Shiyuan Co. reported a revenue increase of 5.45% to 18.087 billion yuan, but a net profit decline of 6.81% to 867 million yuan for the first three quarters of 2025 [39] - Feilida reported a revenue decrease of 6.81% to 4.659 billion yuan, but a net profit increase of 49.1% to 33.19 million yuan for the first three quarters of 2025 [40] Group 10 - Changyuan Donggu reported a revenue increase of 29.75% to 1.648 billion yuan and a net profit increase of 76.71% to 274 million yuan for the first three quarters of 2025 [41] - Liyuanheng reported a net profit of 47.49 million yuan for the first three quarters of 2025, indicating stable performance [42] - Fangyuan Co. reported a net loss of 121 million yuan for the first three quarters of 2025, indicating challenges in its operations [43] Group 11 - China Mobile reported a revenue increase of 0.4% to 794.7 billion yuan and a net profit increase of 4% to 115.4 billion yuan for the first three quarters of 2025 [44] - Huangshanghuang reported a revenue decrease of 5.08% to 1.379 billion yuan but a net profit increase of 28.59% to 101 million yuan for the first three quarters of 2025 [46] - Youcai Resources announced plans to invest approximately 150 million yuan in a new materials production base project [47] Group 12 - Huawei Technology announced plans to invest up to 20 million euros in two German subsidiaries [49] - China Shipbuilding projected a net profit increase of 144.42% to 170.85% for the first three quarters of 2025, indicating strong performance [51] - Aeston's subsidiary plans to transfer a 48% stake in a company for 245 million yuan, indicating strategic divestment [52] Group 13 - Jinxinno plans to raise up to 292 million yuan through a private placement, indicating potential for expansion [53] - China Power Construction reported a 5.04% increase in new contract amounts to 904.527 billion yuan for the first three quarters of 2025 [54] - Helitai reported a net profit increase of 101.45% to 17.81 million yuan for the first three quarters of 2025 [55] Group 14 - Xuefeng Technology reported a revenue decrease of 8.28% to 4.183 billion yuan and a net profit decline of 34.6% to 394 million yuan for the first three quarters of 2025 [57] - Juzhi Technology reported a revenue increase of 21.40% to 615 million yuan and a net profit increase of 33.78% to 82.47 million yuan for the first three quarters of 2025 [59] - Jinxi Axle reported a revenue decrease of 0.11% to 872 million yuan but a net profit increase of 268.03% to 22.11 million yuan for the first three quarters of 2025 [60] Group 15 - Longsheng Technology reported a revenue increase of 10.13% to 1.810 billion yuan and a net profit increase of 36.89% to 210 million yuan for the first three quarters of 2025 [62] - Shannon Chip Creation announced plans for a share reduction by a major shareholder, indicating potential changes in ownership structure [63]

Core Viewpoint - The company reported a year-on-year increase in revenue for Q3 2025, but a decline in net profit and adjusted net profit [1] Financial Performance - The company's operating revenue for Q3 2025 was 5.282 billion yuan, representing a year-on-year increase of 15.12% [1] - The net profit attributable to shareholders of the listed company was 132 million yuan, showing a year-on-year decrease of 3.74% [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 123 million yuan, reflecting a year-on-year decline of 7.04% [1]

Core Viewpoint - The company reported a significant increase in revenue and net profit for the first three quarters of 2025, indicating strong financial performance and growth potential [1] Financial Performance - The company's operating revenue for the first three quarters reached 14.168 billion yuan, representing a year-on-year growth of 19.20% [1] - The net profit attributable to shareholders of the listed company was 344 million yuan, showing a year-on-year increase of 31.06% [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 311 million yuan, reflecting a year-on-year growth of 30.50% [1] - The basic earnings per share stood at 0.5925 yuan [1]

证券代码：002396 证券简称：星网锐捷 公告编号：临 2025-47 福建星网锐捷通讯股份有限公司 关于 2025 年前三季度计提资产减值准备的公告 本公司及董事会全体成员保证公告内容真实、准确和完整，不存在虚假记载、误导性陈 述或者重大遗漏。 三、本期计提资产减值准备情况说明 （一）信用减值损失计提的具体情况 福建星网锐捷通讯股份有限公司（以下简称"公司"）于 2025 年 10 月 20 日召开了第七届董事会第十四次会议和第七届监事会第七次会议，审议通过了 《关于 2025 年前三季度计提资产减值准备的议案》，为真实反映公司 2025 年前 三季度的财务状况和经营成果，按照《企业会计准则》的相关规定，公司合并报 表范围内各公司对所属资产进行了减值测试，并对其中存在减值迹象的资产相应 计提了减值准备，具体情况如下： 一、本期计提资产减值准备情况概述 根据《企业会计准则》《深圳证券交易所上市公司自律监管指引第1号—主 板上市公司规范运作》《深圳证券交易所股票上市规则》和公司相关会计政策， 为更加真实、准确地反映公司截至2025年9月30日的资产状况和经营成果，公司 及下属子公司对2025年三季度末各类存货 ...

证券代码：002396 证券简称：星网锐捷 公告编号：临2025-46 福建星网锐捷通讯股份有限公司 福建星网锐捷通讯股份有限公司（以下简称："公司"）第七届董事会第十四次 会议通知于 2025 年 10 月 10 日以邮件方式发出，会议于 2025 年 10 月 20 日以现场 的方式在福建省福州市高新区新港大道 33 号星网锐捷科技园三期 A 栋 22 楼会议室 召开，本次会议应到董事九人，实到董事九人。公司监事、高级管理人员亦列席了 本次会议，会议由董事长阮加勇先生召集并主持。本次会议的通知、召开和表决程 序符合《中华人民共和国公司法》等有关法律、行政法规、部门规章、规范性文件 和《公司章程》的规定。 二、监事会会议审议情况 经与会监事认真审议，本次会议以记名投票表决方式表决通过了以下决议： （一）本次会议以 3 票赞成，0 票反对，0 票弃权的表决结果，审议通过《2025 年第三季度报告》 经审核，监事会认为董事会编制和审核的福建星网锐捷通讯股份有限公司《2025 年第三季度报告》的程序符合法律、行政法规和中国证监会的规定，报告内容真实、 准确、完整地反映了上市公司的实际情况，不存在任何虚假记载、误导 ...

一、董事会会议召开情况 福建星网锐捷通讯股份有限公司（以下简称："公司"）第七届董事会第十四次 会议通知于 2025 年 10 月 10 日以邮件方式发出，会议于 2025 年 10 月 20 日以现场 的方式在福建省福州市高新区新港大道 33 号星网锐捷科技园三期 A 栋 22 楼会议室 召开，本次会议应到董事九人，实到董事九人。公司监事、高级管理人员亦列席了 本次会议，会议由董事长阮加勇先生召集并主持。本次会议的通知、召开和表决程 序符合《中华人民共和国公司法》等有关法律、行政法规、部门规章、规范性文件 和《公司章程》的规定。 二、董事会会议审议情况 证券代码：002396 证券简称：星网锐捷 公告编号：临2025-45 福建星网锐捷通讯股份有限公司 第七届董事会第十四次会议决议公告 本公司及董事会全体成员保证公告内容真实、准确和完整，不存在虚假记载、误导性陈述 或者重大遗漏。 （一）经与会董事签署的公司第七届董事会第十四次会议决议； （二）第七届董事会审计委员会第十二次审核意见。 经董事会各位董事认真审议，本次会议以记名的表决方式表决通过了以下决议： （一）本次会议以 9 票赞成，0 票反对，0 票弃权 ...