Foxconn Industrial Internet Co., Ltd. released its 2025 annual report on the evening of March 10. Last year, the company's revenue surpassed 900 billion yuan, reaching 902.887 billion yuan, a year-on-year increase of 48.22%. Net profit attributable to shareholders of the listed company was 35.286 billion yuan, marking a 51.99% increase from the previous year. The profit growth rate outpaced revenue growth, highlighting a strong momentum of high-quality development. Furthermore, the company's comprehensive gross profit margin has shown steady quarterly improvement since the second quarter of 2025, reflecting a trend of product portfolio upgrades towards higher-value segments and continuous optimization of operational efficiency.
Regarding the drivers of this performance growth, the company attributed it primarily to the ongoing expansion of the AI server market, a steady increase in its market share with key clients, and excellent performance in its cloud service provider business, which collectively propelled overall revenue growth. AI-related business has become the core growth engine.
Benefiting from the accelerated global surge in demand for AI computing power, the company achieved high growth in both scale and quality last year. During the reporting period, several of the company's core operational metrics reached record highs since its listing, indicating that an inflection point for accelerated growth has arrived and marking the full commencement of a new AI-driven growth cycle.
Specifically, the annual report revealed that the company achieved net profits exceeding 10 billion yuan for two consecutive quarters last year, demonstrating a clear growth trajectory. Net profit attributable to shareholders was 10.373 billion yuan in the third quarter and further climbed to 12.799 billion yuan in the fourth quarter, signaling the emergence of an accelerated growth inflection point.
During the reporting period, basic earnings per share (EPS) were 1.78 yuan, a year-on-year increase of 52.14%. The weighted average return on equity (ROE) was 21.65%, an increase of 5.8 percentage points year-on-year. Both of these key profitability indicators set new records since the company's IPO.
Breaking down the performance by business segment, among the company's three main divisions, cloud computing experienced the fastest growth and was the largest contributor to the 2025 performance. Revenue from this segment reached 602.679 billion yuan, surging 88.70% year-on-year. The proportion of AI-related business increased significantly, becoming a major driver of growth within this segment. Revenue from AI servers for cloud service providers grew by over three times year-on-year, with products related to GPU and ASIC solutions also achieving rapid growth, further consolidating the company's leading position in the global AI server market.
Major global cloud service providers continue to increase capital expenditure on AI infrastructure, with demand for AI servers remaining in a high-growth cycle. It is projected that cloud service providers will maintain an aggressive investment pace in 2026, with total capital expenditure expected to further rise to over $600 billion, indicating ample long-term growth momentum for AI infrastructure construction. Global AI server shipments are forecast to maintain a growth rate of 28.3% in 2026.
Within this wave of AI infrastructure build-out, the company's communication and mobile network equipment business has benefited significantly. In 2025, as data center networks evolved towards 400G/800G and even 1.6T, demand for the company's high-speed switches supporting 800G and above surged. Building on high growth in 2024, revenue in this category increased thirteen-fold year-on-year in 2025, becoming a new engine for growth in this segment. The company's product portfolio now comprehensively covers multiple technologies including Ethernet, Infiniband, and NVLink Switch, meeting the interconnection needs of hyperscale data center clusters, and its market share firmly holds the top position in the industry.
The terminal precision components business also experienced steady growth. Benefiting from structural opportunities brought by AI smartphones, shipment volumes in this segment achieved double-digit year-on-year growth. Concurrently, the company continues to advance the standardization of its "Lighthouse Factory" system. It has now cumulatively established 9 such factories internally and enabled 13 externally, continuously enhancing its smart manufacturing capabilities.
While achieving performance growth, the company remains committed to sharing development outcomes with shareholders and continuously enhancing shareholder returns. The proposed 2025 profit distribution plan indicates an intention to distribute a cash dividend of 6.5 yuan per 10 shares (before tax) to all shareholders. The total annual cash dividend payout, including the interim dividend, reached 19.451 billion yuan, with a cash dividend payout ratio of 55.12%, both setting new records since the company's listing.
Since its initial public offering in 2018, the company has consistently adhered to a high dividend distribution strategy. It has proposed dividend payout plans exceeding 10 billion yuan for four consecutive years, with cumulative dividend distributions reaching 63.1 billion yuan, demonstrating its commitment to long-term value creation through concrete actions.
Looking ahead, despite numerous uncertainties in the international political and economic landscape, and potential periodic challenges from fluctuations in chip and raw material supply and costs, artificial intelligence is accelerating profound changes in the global industrial structure. AI computing power infrastructure is also set to remain one of the most certain core development areas for many years to come.
The company will persist in driving growth through technological innovation, grounded in advanced manufacturing. It aims to deepen its global industrial layout, continuously enhance its system integration and large-scale manufacturing capabilities, and further consolidate its leading position in the global AI computing power industry chain.
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