科技Q2前瞻:关注AI算力/运营商/物联网

华泰证券股份有...
Jul 08, 2025

2Q25 前瞻:AI 算力链业绩或继续兑现;运营商利润预计稳健增长以36 家A/H 通信行业公司为样本,我们预计2Q25 通信板块合计归母净利润同比增长7%,剔除三大运营商、中兴通讯等权重股后,预计板块归母净利润同比增长38%。细分来看,电信运营商利润预计稳健增长;光通信板块在海外与国内市场需求延续高增下,业绩有望持续兑现,且产业链景气度预计继续呈扩散趋势;IDC 受益国内外智算中心需求增长有望...

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