Leading optical module manufacturer Zhongji Innolight Co.,Ltd. achieved a significant leap in performance for 2025, with net profit more than doubling, underscoring the robust global demand for high-end optical interconnect components driven by the computing infrastructure construction boom. The core driver of the performance improvement was sustained investment in computing infrastructure by end customers, which accelerated the shipment volume of the company's high-speed optical modules. The proportion of high-speed products within the product mix continued to increase. Coupled with optimized product solutions and improved operational efficiency, profitability was significantly enhanced. The company released its preliminary financial results on February 27:
* Total operating revenue for 2025 reached 38.24 billion yuan, a year-on-year increase of 60.25%. * Net profit attributable to shareholders of the listed company was approximately 10.8 billion yuan, a year-on-year surge of 108.81%. * Basic earnings per share rose to 9.80 yuan, a 107.63% increase from 4.72 yuan in the previous year.
Optical Module Business Contributes Bulk of Profit
The optical module business serves as the company's core profit source, and the preliminary report disclosed separate profit data for this segment. During the reporting period, the optical module business achieved a net profit of approximately 11.76 billion yuan. After excluding the impact of share-based incentive expenses on net profit, amounting to about 222 million yuan, the segment's net profit was approximately 11.99 billion yuan. This represents a more than doubling compared to the restated net profit of 5.66 billion yuan for the full year 2024. The company stated that benefiting from strong end-customer investment in computing infrastructure, product shipments grew rapidly. The share of high-speed optical modules continued to rise. Through continuous optimization of product solutions and ongoing improvements in operational efficiency, both revenue and net profit achieved substantial growth compared to the same period last year.
Profit Growth Significantly Outpaces Revenue, Indicating Improved Profit Quality
Analyzing the profit structure, operating profit for 2025 reached 13.597 billion yuan, a year-on-year increase of 124.74%. This growth rate far exceeded the 60.25% revenue growth, demonstrating the boosting effect of economies of scale and product mix improvement on profitability. Net profit after deducting non-recurring gains and losses was 10.71 billion yuan, a year-on-year increase of 111.32%, essentially aligning with the net profit growth rate. This indicates that the performance growth was primarily driven by core business operations, not one-off items. The company also confirmed that the data in this preliminary report is consistent with previously disclosed performance forecasts.
Asset Scale Expands in Tandem with Business Growth
As of the end of 2025, the company's total assets reached 45.53 billion yuan, an increase of 57.72% from the beginning of the period. Net assets attributable to shareholders of the listed company amounted to 30 billion yuan, a 56.81% increase from the start of the year. Net asset value per share rose to 27.00 yuan, an increase of 58.17% from the beginning of the period. The company attributed the expansion in total assets and net assets primarily to growth in operating revenue and the expansion of business scale, which led to corresponding increases in monetary funds, inventory, and accounts receivable at period-end. The company's share capital decreased slightly by 0.90% during the reporting period to approximately 1.11112 billion shares.
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