电子行业2025年三季报总结：25Q3电子行业卫星电子、半导体、AI供应链等归母净利润同比增速较快

电子行业电子行业目 录1、25Q3电子行业卫星电子、半导体、AI供应链等归母净利润同比增速较快 32、半导体、英伟达、苹果、AI及服务器供应链归母净利润及同比增速情况 7导子业 7英伟、果AI及器供链 83、投资建议 104、风险提示 10表目录表1：电各行业2025Q3归净润速名 3表2：电各分域2025Q3归净润速名 4表3：电行市前30名公季归净润同比速 5表4：电行业2025Q3母净润前30且高于50元公季母净润同增速 6表5：半体行市前30名司度母润及比速 7表6：英达应公季度母利及比速 8表7：苹供链司度归净润及同增速 8表8：服器应公季度母利及比速 9表9：AI产链司归母利及比速 91、25Q3电子行业卫星电子、半导体、AI供应链等归母净利润同比增速较快25Q3AI2025Q3（A股）6501637.0+40%，环比+20%23归母净利润同比增速排名前3（Q3归母净利润为2.0113、半导体（221.1亿元，+89%）、AI供应链（220.6亿元，+84%）。25Q3归母净利润增速排名子行业25Q3归母净利润增速排名子行业归母净利润（亿元）同比增速（%）24Q324Q425Q125Q225Q324Q324Q425Q125Q225Q31卫星电子0.9-14.51.54.32.0-62%N/A10%118%113%2半导体117.087.997.0161.6221.176%252%40%34%89%3AI供应链119.7145.2128.2174.7220.630%27%65%87%84%4英伟达供应链95.7113.694.0128.6172.316%18%291%67%80%5PCB46.136.652.970.082.36%44%58%68%78%6显示14.4-0.225.124.522.2123%-10%565%14%54%7泛光学14.615.712.418.721.4153%76%48%40%46%8消费电子225.3177.7163.0205.0310.710%5%10%21%38%9苹果供应链172.8174.4114.5152.0236.619%12%8%37%37%10激光器供应链10.74.78.79.214.6-14%-25%-54%-13%36%19汽车电子169.3169.1171.3198.6171.724%15%31%27%34%11能源电子5.25.85.77.86.7-21%-10%32%37%31%12安防33.6-3.827.349.142.1-7%-10%28%17%25%13元件23.824.324.332.47.1-4%56%16%22%22%14分销4.4-0.32.84.85.354%-10%57%25%22%15工业母机7.02.56.68.98.421%扭亏-2%0%20%16军工电子22.63.916.131.726.5-32%-83%-32%9%17%17特斯拉供应链33.018.433.539.037.5-17%14%8%29%14%18XR供应链12.34.25.610.713.5120%53%21%17%9%20服务器供应链16.614.213.416.615.245%-21%42%33%-9%21LED10.1-4.211.78.7-7.9-18%-17%6%-28%-13%22科学仪器2.92.21.52.11.977%85%56%-24%-34%23连接器和线束线缆10.18.78.410.35.4-7%52%-12%-11%-47%合计1,168.2986.01,025.31,369.31,637.018%6%34%35%40%、整理；注：各细分板块公司参照光大证券电子行业重点公司分类。细分领域中，LED-LED电源、LED-LED显示屏、显示-设备、半导体-数字GPU和CPU25Q374个细分领域25Q35（25Q3归母净0.08LED-LED（1.93显示-（2.02+0-数字GU和CP（12.42+2%半导体-模拟（4.59亿元，+218%）。25Q3归25Q3归行业子行业归母净利润(亿元)同比增速（%）24Q324Q425Q125Q225Q324Q324Q425Q125Q225Q31LEDLED电源0.01-0.33-0.00-0.010.08-82%-72%-10%-10%644%2LEDLED显示屏0.36-11.671.832.391.93-76%N/A-6%79%431%3显示设备0.58-5.550.751.582.02-37%-31%1172%-29%250%4半导体数字-GPU和CPU3.632.066.5512.0212.42扭亏-15%扭亏736%242%5半导体模拟1.441.740.923.454.59扭亏-48%扭亏117%218%6半导体红外2.30-5.361.542.567.0878%N/A128%扭亏208%7PCB覆铜板4.542.076.2710.0012.1090%扭亏75%51%167%8半导体后道设备2.642.191.945.686.998994%50%扭亏48%165%9PCBPCB设备1.141.041.692.372.854%181%63%68%150%10半导体存储8.592.241.089.9521.35扭亏553%-91%-27%148%11半导体EDA0.100.85-0.020.670.23-89%7%N/A32%142%12PCB硬板23.5217.2335.0246.0149.98-7%60%69%65%113%13卫星电子卫星电子0.92-14.531.484.291.96-62%N/A10%118%113%14半导体数字16.069.4220.3926.7329.56682%扭亏180%33%84%15AI供应链AI供应链119.65145.18128.20174.73220.5730%27%65%87%84%16链英伟达供应链95.71113.5693.98128.62172.3016%18%291%67%80%17元件磁性材料3.169.055.417.025.42-42%扭亏20%65%71%18LEDLED设备0.03-0.290.12-0.090.05-74%-80%-60%-12%64%19消费电子代工131.46109.43105.77134.92197.906%-8%24%35%51%20泛光学泛光学14.6515.7112.4218.6721.40153%76%48%40%46%21显示面板15.5515.6427.5524.3522.4915%-4%211%14%45%22半导体S10.6212.4610.0614.4915.05268%369%67%46%42%23LEDLED背光0.871.331.000.971.24113%扭亏62%25%42%24汽车电子电池147.42160.49154.26176.37205.7921%15%30%26%40%25消费电子充电头6.9310.797.338.939.6725%58%53%25%40%26半导体封测13.6213.986.1113.7618.9844%7%20%4%39%27苹果供应链172.84174.38114.50151.98236.6119%12%8%37%37%28链激光器供应链10.724.738.679.2014.62-14%-25%-54%-13%36%29消费电子盖板13.756.153.166.0218.3130%-45%26%47%33%30能源电子能源电子5.165.795.667.826.74-21%-10%32%37%31%31消费电子功能件和屏蔽件9.946.147.885.9112.975%53%10%33%31%32消费电子消费电池18.1912.4614.8211.4723.86-11%28%-1%-37%31%33消费电子光学15.388.7410.3015.7919.53141%677%39%28%27%34安防视频监控37.7229.7729.8653.9246.62-3%-70%27%20%24%35分销分销4.39-0.272.834.815.3454%-10%57%25%22%36TWS链TWS3.624.113.793.484.3730%87%89%2%21%37工业母机工业母机6.992.526.568.898.3721%扭亏-2%0%20%38元件电容13.1910.9613.0718.2015.7316%-3%17%20%19%39半导体前道设备和零部件33.4330.5723.9233.1539.8249%0%27%17%19%40军工电子军工电子22.603.8916.0831.7026.54-32%-83%-32%9%17%41汽车电子智能座舱系统和智能驾驶系统8.935.048.6011.6210.3731%-30%60%53%16%42LEDLED统1.351.401.051.971.56-39%-50%-25%1%16%43汽车电子HUD6.133.553.764.667.0363%8%17%19%15%44特斯拉供应链32.9918.4433.5439.0337.45-17%14%8%29%14%链45半导体材料11.961.0211.7512.5613.6422%-78%58%14%14%46元件材料3.653.182.924.164.01-21%-11%9%5%10%47XRXR供应链12.344.155.6010.6613.47120%53%21%17%9%48元件电感3.533.002.953.403.7916%20%27%21%7%49半导体功率半导体10.0412.029.2112.3210.5122%-18%57%34%5%50消费电子声学11.433.404.919.6911.91132%53%24%12%4%51半导体第三代2.762.842.401.582.7851%扭亏8%-24%1%52显示材料2.351.403.262.522.367%7796%-5%-11%0%53消费电子天线4.822.242.152.234.7214%203%-29%7%-2%54PCB软板17.0216.669.5110.9416.7615%-11%17%89%-2%55显示交互平板6.802.933.834.446.26-27%-61%-2%-33%-8%56LEDLED封装2.521.132.940.992.32-19%-34%-12%-65%-8%57链服务器供应链16.6314.2213.3716.6215.2045%-21%42%33%-9%58消费电子手机终端10.5116.454.907.239.35-41%0%-70%-41%-11%59消费电子金属件与结构件2.861.861.812.792.4983%扭亏-45%138%-13%60汽车电子传感器0.950.760.781.220.77-12%-5%25%31%-19%61汽车电子通信模组5.593.163.864.184.2083%21%36%7%-25%62科学仪器科学仪器2.892.161.512.131.9177%85%56%-24%-34%63LEDLED照明6.207.293.774.064.08-27%19%-10%-36%-34%64束线缆连接器和线束线缆10.098.688.3510.295.36-7%52%-12%-11%-47%65元件晶振0.26-1.88-0.06-0.380.03-21%N/A-12%-19%-87%66显示显示模组0.190.060.110.22-0.03-59%-88%-57%9%-11%67LEDLED芯片0.08-1.632.040.44-0.93扭亏-30%279%29%-126%68汽车电子导航0.07-4.14-0.100.26-2.32扭亏N/AN/A扭亏-322%-半导体代工-3.04-1.32-2.555.4413.61N/AN/AN/A扭亏扭亏-半导体MEMS-0.100.470.761.3316.78-11%-67%扭亏2784%扭亏-PCBPCB材料-0.08-0.390.390.650.58-17%-32%361%1259%扭亏-显示OLED-10.57-14.37-9.52-7.97-10.33N/AN/AN/AN/AN/A-安防集成/运营-4.11-33.60-2.60-4.84-4.53N/AN/AN/AN/AN/A-半导体射频-0.87-1.55-0.61-1.61-0.62-12%-14%-15%-32%N/A、整理；注：（1）注：各细分板块公司参照光大证券电子行业重点公司分类。（2）负负数据之间的归母净利润同比增速用N/A表示，并不参与排名。（3）归母净利润由负转正同比增速用扭亏表示，并不参与排名。电子行业市值前5名公司2025Q3归母净利润及同比增速为：工业富联（25Q3归母净利润为103.7362-（7亿元,扭亏（7.60亿元（48.74亿元（36.62亿元20%）。股票代码股票简称股票代码股票简称总市值（）归母净利润（亿元）同比增速（%）24Q324Q425Q125Q225Q324Q324Q425Q125Q225Q3601138.SH工业富联1487264.0280.7552.3168.83103.731%7%25%51%62%688256.SH-U5678-1.942.723.556.835.67N/A扭亏扭亏扭亏扭亏688041.SH海光信息52576.724.055.066.967.60200%12%75%23%13%002475.SZ立讯精密458236.7942.9130.4436.0148.7422%20%23%23%32%002415.SZ海康威视298830.4438.7020.3936.1936.62-13%-26%6%15%20%002371.SZ北方华创290516.8211.5915.8116.2719.2255%14%40%-2%14%300476.SZ胜宏科技25953.063.909.2112.2211.0227%355%339%390%261%688012.SH中微公司17403.967.033.133.935.05153%12%26%47%28%300014.SZ亿纬锂能170710.518.8711.015.0412.11-17%42%3%-53%15%603501.SH韦尔股份156310.089.488.6611.6211.82368%406%55%44%17%600183.SH生益科技15474.403.665.648.6310.1728%38%44%60%131%300433.SZ蓝思科技154715.1012.534.297.1417.0038%-9%39%29%13%603986.SH兆易创新15353.152.702.353.415.08223%扭亏15%9%61%688008.SH澜起科技15253.854.345.256.344.73153%100%135%71%23%000725.SZ京东方A150910.2620.1316.1416.3313.55258%32%64%26%32%688347.SH华虹公司14663.13-1.970.230.520.00227%-17%-90%19%-10%002916.SZ深南电路14595.013.904.918.699.6615%-21%29%43%93%002463.SZ沪电股份13787.087.397.629.2010.3554%32%48%47%46%002384.SZ东山精密12695.070.184.563.024.650%-97%58%11%-8%002938.SZ鹏鼎控股120911.9016.464.887.4511.7515%14%-2%160%-1%301308.SZ江波龙1169-0.37-0.58-1.521.676.98N/A-20%-14%-21%扭亏002241.SZ歌尔股份116611.203.204.699.4811.71138%63%24%12%5%002600.SZ领益智造11117.133.485.653.6510.1215%92%23%58%42%603296.SH华勤技术10197.598.768.4210.4712.108%21%39%53%59%300408.SZ三环集团9545.785.875.337.047.2141%34%23%19%25%000100.SZTCL科技9035.300.3910.138.7111.63-58%-94%322%15%119%688036.SH传音控股87410.5116.454.907.239.35-41%0%-70%-41%-11%688183.SH生益电子8710.901.452.003.305.84扭亏扭亏657%374%546%688082.SH盛美上海8383.153.952.464.495.7035%66%207%24%81%688072.SH拓荆科技8301.424.17-1.472.414.62-3%6%-153%103%225%、整理。注：（1）市值时间为2025年11月3日。（2）负负数据之间的归母净利润同比增速用N/A表示。（3）归母净利润由负转正同比增速用扭亏表示。电子行业2025Q3归母净利润同比增速前5（25Q3归母净0.71亿元，同比+6900%，下同）、硕贝德（0.17亿元+3053%）、科（0.80亿元（0.71亿元（1.65亿元，+1433%）。股票代码股票简称股票代码股票简称总市值（）归母净利润（亿元）同比增速（%）24Q324Q425Q125Q225Q324Q324Q425Q125Q225Q3688519.SH南亚新材1530.01-0.060.210.660.71扭亏N/A109%46%6900%300322.SZ硕贝德1120.01-0.680.150.190.17扭亏N/A扭亏67%3053%60078H科力远1240.030.580.370.140.80扭亏扭亏10%扭亏2837%600288.SH大恒科技740.03-0.26-0.080.050.71-96%N/AN/A-53%1961%603629.SH利通电子770.11-0.280.290.221.65213%-39%-11%144%1433%600884.SH杉杉股份2980.06-3.900.331.740.76-97%N/A扭亏92%1253%002414.SZ高德红外5920.32-4.970.840.974.01-59%N/A897%916%1144%300739.SZ明阳电路620.03-0.230.120.290.33-87%-20%37%31%1121%300438.SZ鹏辉能源2570.19-3.13-0.45-0.432.03-19%N/A-37%-27%977%000532.SZ华金资本510.061.200.37-0.010.67-73%315%-66%N/A974%300655.SZ晶瑞电材1860.06-1.800.440.260.59-52%N/A扭亏549%939%603061.SH金海通760.050.340.260.500.49-32%5%72%103%833%300491.SZ通合科技600.010.03-0.070.220.05-98%-92%-18%76%604%300657.SZ弘信电子1520.060.020.070.470.37扭亏扭亏-76%124%558%688183.SH生益电子8710.901.452.003.305.84扭亏扭亏657%374%546%000050.SZ深天马A2440.17-1.960.961.091.07扭亏N/A扭亏扭亏539%301421.SZ波长光电1200.020.060.070.080.12-75%-47%-40%-57%471%300940.SZ南极光580.070.220.300.430.37扭亏扭亏扭亏1402%455%603267.SH鸿远电子1150.070.260.601.240.38-70%2%-17%159%437%301297.SZ富乐德2930.290.290.290.291.5319%16%19%14%419%002456.SZ欧菲光4170.080.11-0.59-0.500.41-85%-97%-47%-31412%688270.SH臻镭科技1350.090.030.220.400.3938%-90%扭亏252%337%301095.SZ广立微1520.050.73-0.140.290.21-82%-7%N/A16%312%301326.SZ捷邦科技920.06-0.20-0.11-0.270.25扭亏N/AN/AN/A297%002161.SZ远望谷600.19-0.35-0.240.960.73扭亏N/A-12%扭亏285%301200.SZ大族数控5360.600.981.171.462.28-7%扭亏84%84%282%600745.SH闻泰科技5502.74-32.482.612.1210.40-67%N/A82%扭亏279%300458.SZ全志科技3780.320.160.920.701.17扭亏-64%87%-1%267%300516.SZ久之洋740.030.11-0.060.150.12-87%-73%-23%23%264%300476.SZ胜宏科技25953.063.909.2112.2211.0227%355%339%390%261%、整理。注：（1）市值时间为2025年11月3日。（2）负负数据之间的归母净利润同比增速用N/A表示。（3）归母净利润由负转正同比增速用扭亏表示。2、半导体、英伟达、苹果、AI及服务器供应链归母净利润及同比增速情况半导体子行业市值前5名公司20Q3归母净利润及同比增速为：寒武纪-U（7亿元,扭亏（7.60亿元,13%（2亿元,14%中微公司（5亿元，28%）豪威集团（11.82亿元，17。股票代码股票简称股票代码股票简称总市值归母净利润（亿元）同比增速（%）24Q324Q425Q125Q225Q324Q324Q425Q125Q225Q3688256.SH-U5678-1.942.723.556.835.67N/A扭亏扭亏扭亏扭亏688041.SH海光信息52576.724.055.066.967.60200%12%75%23%13%002371.SZ北方华创290516.8211.5915.8116.2719.2255%14%40%-2%14%688012.SH中微公司17403.967.033.133.935.05153%12%26%47%28%603501.SH豪威集团156310.089.488.6611.6211.82368%406%55%44%17%603986.SH兆易创新15353.152.702.353.415.08223%扭亏15%9%61%688008.SH澜起科技15253.854.345.256.344.73153%100%135%71%23%301308.SZ江波龙1169-0.37-0.58-1.521.676.98N/A-20%-14%-21%扭亏688082.SH盛美上海8383.153.952.464.495.7035%66%207%24%81%688072.SH拓荆科技8301.424.17-1.472.414.62-3%6%-153%103%225%688521.SH芯原股份825-1.11-2.05-2.20-1.00-0.27N/AN/AN/AN/AN/A603893.SH瑞芯微7531.692.432.093.222.48222%322%210%179%47%002049.SZ紫光国微7102.721.691.195.735.71-57%-66%-61%33%110%600584.SH长电科技7064.575.332.032.674.83-4%7%50%-45%6%600703.SH三安光电6880.630.062.12-0.35-0.882278%-97%78%-15%-24%688249.SH晶合集成6690.922.541.351.972.1822%41%71%83%137%300475.SZ香农芯创6662.08-1.000.171.412.02417%-16%19%-1%-3%688396.SH华润微6642.192.630.832.561.87-21%-38%151%3%-15%301269.SZ华大九天6480.210.510.10-0.070.06-76%74%27%-12%-71%002156.SZ通富微电6332.301.251.013.114.4885%-46%3%39%95%688525.SH佰维存储627-0.55-0.67-1.97-0.282.56N/AN/A-21%-12%扭亏688126.SH沪硅产业625-1.48-4.34-2.09-1.58-2.65-68%N/AN/AN/AN/A002414.SZ高德红外5920.32-4.970.840.974.01-59%N/A897%916%1144%300857.SZ协创数据5651.991.351.692.632.66141%47%4%34%33%600745.SH闻泰科技5502.74-32.482.612.1210.40-67%N/A82%扭亏279%688047.SH龙芯中科544-1.05-2.83-1.51-1.43-0.99N/AN/AN/AN/AN/A688047.SH龙芯中科544-1.05-2.83-1.51-1.43-0.99N/AN/AN/AN/AN/A001309.SZ德明利5400.34-0.71-0.69-0.490.91扭亏-15%-13%-12%167%600460.SH士兰微5200.541.911.491.160.84扭亏24%扭亏扭亏57%300604.SZ长川科技5201.431.011.113.164.38扭亏130%2624%50%208%、整理。注：（1）市值时间为2025年11月3日。（2）负负数据之间的归母净利润同比增速用N/A表示。（3）归母净利润由负转正同比增速用扭亏表示。英伟达、苹果、AI及服务器供应链英伟达供应链公司2025Q3工业富联（103.73亿元,62、中际旭创（31.37亿元,125%、胜宏科技（2亿元，261%10.17131（5亿元,46（5.66亿元+76%。股票代码股票简称股票代码股票简称总市值（）归母净利润（亿元）同比增速（%）24Q324Q425Q125Q225Q324Q324Q425Q125Q225Q3601138.SH工业富联14,87264.0280.7552.3168.83103.731%7%25%51%62%300308.SZ中际旭创5,33313.9414.1915.8324.1231.37104%62%57%79%125%300476.SZ胜宏科技2,5953.063.909.2112.2211.0227%355%339%390%261%600183.SH生益科技1,5474.403.665.648.6310.1728%38%44%60%131%002463.SZ沪电股份1,3787.087.397.629.2010.3554%32%48%47%46%300394.SZ天孚通信1,2053.223.673.385.625.6659%26%21%50%76%合计95.71113.5693.98128.62172.3016%18%291%67%80%、整理。注：市值时间为2025年11月3日。苹果供应链市值前五公司2025Q3（103.73亿元,62%（48.74亿元+32（17.00亿元,13%鹏鼎控股（11.75亿元,-%、歌尔股份（11.71亿元，%。股票代码股票简称股票代码股票简称总市值（）归母净利润（亿元）同比增速（%）24Q324Q425Q125Q225Q324Q324Q425Q125Q225Q3601138.SH工业富联14,87264.0280.7552.3168.83103.731%7%25%51%62%002475.SZ立讯精密4,58236.7942.9130.4436.0148.7422%20%23%23%32%300433.SZ蓝思科技1,54715.1012.534.297.1417.0038%-9%39%29%13%002938.SZ鹏鼎控股1,20911.9016.464.887.4511.7515%14%-2%160%-1%002241.SZ歌尔股份1,16611.203.204.699.4811.71138%63%24%12%5%002600.SZ领益智造1,1117.133.485.653.6510.1215%92%23%58%42%601231.SH环旭电子5285.133.563.353.036.25-18%-36%0%-33%22%002008.SZ大族激光4342.012.681.633.253.75-2%45%-83%38%87%300115.SZ长盈精密4981.611.771.751.311.6221%111%-43%6%1%300136.SZ信维通信3613.301.280.770.843.252%3041%-49%65%-2%002273.SZ水晶光电3504.351.682.212.804.8367%4%24%13%11%688772.SH珠海冠宇2981.661.62-0.241.412.7011%197%-33%53%62%688097.SH博众精工1471.581.45-0.311.941.7014%-10%N/A65%7%688025.SH杰普特1420.490.290.360.591.0939%25%37%108%124%688001.SH华兴源创135-0.82-4.46-0.301.090.73-23%-104%N/A66%扭亏603283.SH赛腾股份1343.210.790.680.542.789%-72%-28%-9%-13%688127.SH蓝特光学1321.120.590.460.581.4761%-33%56%191%30%002947.SZ恒铭达1271.471.461.081.261.7446%69%54%35%18%000049.SZ德赛电池1071.141.920.490.491.28-39%-4%11%-23%13%002635.SZ安洁科技920.470.410.310.310.39-53%-43%-70%-56%-17%合计172.84174.38114.50151.98236.6119%12%8%37%37%、整理。注：（1）市值时间为2025年11月3日。（2）负负数据之间的归母净利润同比增速用N/A表示。（3）归母净利润由负转正同比增速用扭亏表示。服务器供应链公司2025Q3归母净利润及同比增速为：澜起科技（4.73亿元,23）、浪潮信息（6.83亿元,-%）、紫光股份（3.63亿元,-38）、聚辰股份（1.15亿元68%）。股票代码股票简称股票代码股票简称总市值（）归母净利润（亿元）同比增速（%）24Q324Q425Q125Q225Q324Q324Q425Q125Q225Q3688008.SH澜起科技1,5253.854.345.256.344.73153%100%135%71%23%000977.SZ浪潮信息9396.979.974.633.366.8351%0%51%16%-2%000938.SZ紫光股份7785.81-0.093.496.923.6312%-10%-16%18%-38%688123.SH聚辰股份2610.680.790.991.061.15263%340%95%15%68%合计16.6314.2213.3716.6215.2045%-21%42%33%-9%、整理。注：市值时间为2025年11月3日。AI产业链市值前五公司2025Q3归母净利润及同比增速为：工业