工业富联年报点评:苹果新机+Rubin或驱动26收入高增

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工业富联 2025全年实现营收9028.87亿元(yoy+48.22%),归母净利润352.86亿元(yoy+51.99%)。2025年,以GPU服务器代工为核心的云计算业务毛利额同比大幅增长116.5%到345亿人民币,占公司总毛利达54.8%,成为公司最大业务部门,或反映Blackwell等英伟达GPU服务器大批量出货对业务的拉动作用。展望2026年:1)据Trendforce,北美CSP资本...

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