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中際旭創(300308.SZ):Q3的800G的出貨量以及收入都比Q2環比有明顯的提升
格隆匯 10-23 09:55

格隆匯10月23日丨中際旭創(300308.SZ)投資者關係活動記錄表顯示,從財務指標看,Q3實現營收30億,同比增長近15%。單季度歸母淨利潤達6.8億元,同比增長近90%;前三季度營收合計在70億左右,和去年基本持平,但高端產品的收入佔比進一步提升。歸母淨利潤在13個億左右,增速在50%以上。利潤增長主要原因有兩方面:一是來自綜合毛利的增長,400G和800G高端產品毛利較高;二是年初AI的需求增量還沒有體現,公司在費用和成本管控上制定了較為嚴格的年度預算計劃,之後伴隨着隨後幾個季度收入的增長疊加毛利增長,利潤率得以顯著增加。

從經營角度來看,Q3的400G和800G等高端產品的出貨量和收入無論同比和環比都有着不錯的增長。

1、從今年Q2開始,海外AI客户的算力及帶寬需求的急劇增長產生了很多800G的需求和訂單,從Q2開始逐漸的釋放,並在Q3、Q4到明年集中體現出來。因此Q3的800G的出貨量以及收入都比Q2環比有明顯的提升。

2、Q3數據中心客户對400G的需求明顯回升,且不少客户在AI算力架構上採用了400G光模塊+以太網交換機的設計,對400G的需求也在快速增長。因此,疊加了數據中心和AI算力的雙重需求,公司在Q3的400G出貨量和收入也有明顯的環比提升。

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