国金证券研报指出，新易盛预计1H25净利润37亿元-42亿元，同比增长328%-385%；对应2Q25净利润21.3亿元-26.3亿元，同比增长294%-386%，环比增长35%-67%，业绩超预期。800G等高速率光模块放量，带动公司增收增利。认为受到关税不确定性影响，2Q公司部分高速光模块产品可能存在提前出货的情况，进一步增高业绩。展望26年，多重利好有望逐步释放。AEC是ASIC机柜内优选连接方案，LPO适用于数据中心机柜内服务器到交换机的连接，具有低功耗、低成本优点，公司在AEC、LPO均有布局，有望形成第二增长曲线，拉高盈利质量。考虑到高速光模块需求超预期、公司盈利能力强，上调盈利预测，维持“买入”评级。
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