Zhongji Innolight expects a year-on-year net profit growth of 89.50%-128.17% in 2025, with the optical module business becoming the core engine | Financial Report Insights

Zhongji Innolight Co., Ltd. expects explosive growth in annual profits for 2025, with net profit likely to exceed 10 billion yuan, mainly due to the strong performance of its core optical module business. According to the announcement disclosed on January 31, the company expects the net profit attributable to shareholders of the listed company to be between 9.8 billion and 11.8 billion yuan, an increase of 89.50% to 128.17% compared to the same period last year. After deducting non-recurring gains and losses, the net profit is expected to be between 9.7 billion and 11.7 billion yuan, with a year-on-year growth range of 91.38% to 130.84%. This performance forecast is based on preliminary calculations by the finance department and has not been audited by an auditing agency. The company stated that the specific data for the 2025 annual performance will be detailed in the annual report to be released later, and investors should pay attention to investment risks. Financial Impact Factors Although the main business has shown strong growth, several financial factors have somewhat reduced the final net profit. The announcement pointed out that due to the continuous decline in the US dollar exchange rate, an exchange loss of approximately 270 million yuan was incurred during the reporting period. In addition, the company made provisions for inventory impairment for potentially stagnant inventory and recognized credit impairment losses for accounts receivable, which together reduced net profit by approximately 113 million yuan. At the same time, the restricted stock incentive plan and employee stock ownership plan implemented by the company confirmed share-based payment expenses, resulting in a reduction of approximately 223 million yuan in net profit attributable to shareholders of the listed company. On the other hand, investment income contributed positively to the company's performance. During the reporting period, mainly from the investment income recognized by joint ventures using the equity method and changes in the fair value of other equity investments, the company recognized approximately 296 million yuan in income, of which about 48 million yuan was included in non-recurring gains and losses. Optical Module Business Performance As the company's core growth engine, the optical module business demonstrates strong profit elasticity in 2025. Excluding the impact of equity incentive expenses, the optical module business achieved a consolidated net profit of approximately 10.8 billion to 13.1 billion yuan. This figure represents a growth rate of 90.81% to 131.44% compared to the same caliber of 5.66 billion yuan in 2024. If various expenses and losses are taken into account, the listed company as a whole achieved a consolidated net profit of approximately 10.5 billion to 12.7 billion yuan, with a year-on-year growth rate reaching as high as 136.42%, further confirming the company's competitive advantage and market expansion capability in its core track