Ziguang shares: It is expected that the inventory in the fourth quarter will fall to normal levels.

Jinshi Data reported on October 31st that the inventory of Ziguang Co., Ltd. increased by 4.8 billion yuan at the end of the third quarter compared to the beginning of the year. This is mainly due to the increased demand for IT product procurement and stocking brought by the Zhisuan business in the first three quarters. In order to maintain a competitive advantage, the company has made advance reserves for some products and components with significant price fluctuations. At the same time, the company's white-label server orders have increased, resulting in a corresponding increase in server products at the end of the quarter. In addition, according to the cyclical characteristics of the distribution business, procurement stocking will also be increased in the middle of the year. It is expected that in the fourth quarter, as inventory is sold, inventory will return to normal levels. Currently, the mainstream products of data center switches are mainly 400G, and they have already made a comprehensive effort this year. At the same time, 800G switch products have also started small-scale shipments, and it is expected that there will still be good pump space next year.