AI需求带动下，PCB龙头沪电股份2025年营收同增42%，归母净利润同增48%｜财报见闻

华尔街见闻01-27

受AI与高速运算需求拉动，沪电股份2025年营收约189亿元、归母净利润约38.22亿元，同比分别增长约42%和47.74%。加权平均净资产收益率达28.57%，盈利能力持续提升；扣非净利润与归母净利润基本相当，利润质量较高。公司总资产规模增至约283亿元，同比增长33.40%，资产扩张步伐快于利润增速。受益于高速运算服务器、人工智能等新兴计算场景对印制电路板的强劲需求，沪电股份2025年营收与...

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's revenue will increase by 42% year-on-year in 2025, and its net profit attributable to the parent company will increase by 48% year-on-year | Financial Report Insights","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"002463":1.5,"PCB":1.5},"content_text":"受AI与高速运算需求拉动，沪电股份2025年营收约189亿元、归母净利润约38.22亿元，同比分别增长约42%和47.74%。加权平均净资产收益率达28.57%，盈利能力持续提升；扣非净利润与归母净利润基本相当，利润质量较高。公司总资产规模增至约283亿元，同比增长33.40%，资产扩张步伐快于利润增速。受益于高速运算服务器、人工智能等新兴计算场景对印制电路板的强劲需求，沪电股份2025年营收与利润均实现超过40%的同比增长。1月27日公司发布的业绩快报显示，沪电股份全年营业收入约189亿元，同比增长约42%；归母净利润约38.22亿元，同比增长约47.74%；总资产规模亦提升至约283亿元。业绩快报看点如下：财务表现强劲：2025年营收189亿元，同比增长42%；归母净利润38.22亿元，同比增长47.74%；扣非净利润37.61亿元，同比增长47.69%盈利能力提升：加权平均净资产收益率达28.57%，较上年提升4.32个百分点；基本每股收益1.99元，同比增长47.05%资产规模扩张：总资产283亿元，同比增长33.40%；归属股东权益151亿元，增长27.63%；每股净资产7.85元增长依托AI需求：业绩高增长主要依赖AI服务器和高速运算需求，产品结构集中在中高阶印制电路板AI需求拉动营收净利增长，资产规模同步扩张公司表示，业绩增长主要受益于高速运算服务器、人工智能等新兴计算场景对印制电路板的结构性需求。从财务指标看，公司加权平均净资产收益率为28.57%，较上年的24.25%有所提升。扣除非经常性损益后的净利润约为37.61亿元，与归母净利润规模基本相当。营业利润占营业收入的比例约为23.3%，较去年同期的22.2%略有上升。截至报告期末，公司总资产约为283亿元，较上年末增长约33.40%；归属于上市公司股东的所有者权益约为151亿元，同比增长约27.63%。资产规模增速高于营收及净利润增幅，且股东权益增速低于总资产增速，反映公司可能在报告期内进行了相应的资产扩张与负债结构调整。风险提示及免责条款            市场有风险，投资需谨慎。本文不构成个人投资建议，也未考虑到个别用户特殊的投资目标、财务状况或需要。用户应考虑本文中的任何意见、观点或结论是否符合其特定状况。据此投资，责任自负。          \n\n\n海量资讯、精准解读，尽在新浪财经APP","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"dataReport","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":1,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":false,"tenantId":"TBCN","deviceId":"web-server-community-laohu8-v3","version":"4.42.0","shortVersion":"4.42.0","platform":"web","vendor":"web","appName":"laohu8","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2606868597","isCrawlerRequest":true}