AI data-connector demand drives profit jump; buyback and dividend return cash
AI data-communication connectors become core growth engine First-half net profit rose 54.4% to 130 million yuan on revenue up 45.9% to 1.13 billion yuan, with second-quarter profit up 73.9%. The data-communication connector business, tied to AI computing demand, is now the main growth driver. This is the fundamental force lifting the stock.
It is the core new fundamental reason the company is moving, showing real earnings acceleration from AI demand.
Supernode theme pulls liquid-cooled server suppliers higher Supernode products launched at WAIC 2026 drove a sector rally, with Shenglan rising over 10% as a liquid-cooled server supplier. Analysts expect supernodes to become a key form of domestic AI infrastructure, boosting demand for high-speed interconnects and cabinet-level parts.
It explains the demand-side theme that first pushed the stock up this period.
Buyback and dividend return cash to shareholders The company completed a first buyback of 85,900 shares for 9.99 million yuan and plans a cash dividend of 1 yuan per 10 shares, totaling 16.36 million yuan. These actions signal confidence and put money back in shareholders' hands, supporting the stock.
It shows concrete capital returns that support investor confidence and the share price.
Profit growth comes with weaker cash flow and higher debt Operating cash flow fell 4.7% to 63.22 million yuan, and the asset-liability ratio rose 12.8 percentage points from a year earlier to 46.26%. Gross margin was roughly flat. The earnings beat is real, but cash generation and rising leverage are worth watching.
It gives the fair counterweight to the strong profit headline, which matters for a balanced view.