证券代码：920190 证券简称：雷神科技 公告编号：2026-046 青岛雷神科技股份有限公司 董事、高级管理人员薪酬管理制度 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记 载、误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别 及连带法律责任。 一、 审议及表决情况 青岛雷神科技股份有限公司（以下简称 "公司"）于 2026 年 3 月 27 日召开第三届董事会第十五次会议，会议审议通过了《关于制定 及修订公司部分内部管理制度的议案》的子议案《修订<董事、高级 管理人员薪酬管理制度>的议案》，本议案尚需提交公司股东会审议。 二、 分章节列示制度主要内容： 青岛雷神科技股份有限公司 董事、高级管理人员薪酬管理制度 第一章 总则 第一条 为进一步完善青岛雷神科技股份有限公司（以下简称"公 司"）治理结构，加强和规范公司董事、高级管理人员薪酬的管理， 科学、客观、公正、规范地评价公司董事、高级管理人员的经营业绩， 建立和完善有效的激励与约束机制，充分调动董事、高级管理人员的 1 工作积极性和创造性，促进公司的持续健康发展，根据《中华人民共 和国公司法》（以下简称"《公司法》" ...

证券代码：920190 证券简称：雷神科技 公告编号：2026-011 青岛雷神科技股份有限公司 2025年度独立董事述职报告（冉祥俊） 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、 误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带 法律责任。 作为青岛雷神科技股份有限公司（以下简称"公司"）的独立董 事，本人冉祥俊在任职期间严格按照《公司法》《公司章程》《上市公 司独立董事管理办法》《北京证券交易所上市公司持续监管指引第1号 ——独立董事》的规定，认真、勤勉、谨慎履行职责，积极出席相关会 议，对各项议案进行认真审议，完成了董事会交办的各项工作任务，充 分发挥了独立董事及各专业委员会的作用，积极关注和参与研究公司的 发展，为公司的审计工作及内部控制等工作提出了意见和建议。现就 2025年度履行独立董事职责情况汇报如下： 一、独立董事独立性情况 （一）基本情况 经过自查，除独立董事津贴外，本人没有从公司及其主要股东或有 利害关系的机构和人员处取得额外的、未予披露的其他利益。本人不存 在影响独立性的情况，不存在以下情况： 1、 在公司或者其附属企业任职的人员及其配偶 ...

青岛雷神科技股份有限公司 外汇套期保值业务管理制度 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、 误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连 带法律责任。 证券代码：920190 证券简称：雷神科技 公告编号：2026-048 外汇套期保值业务管理制度 第一章 总则 第一条 为规范青岛雷神科技股份有限公司（以下简称"公司"）外汇 套期保值业务及相关信息披露工作，加强对外汇套期保值业务的管理， 防范投资风险，健全和完善公司外汇套期保值业务管理机制，确保公司 资产安全，根据《中华人民共和国公司法》《中华人民共和国证券法》《北 1 京证券交易所上市公司持续监管指引第15号——交易与关联交易》等有 关法律、法规、规范性文件及《青岛雷神科技股份有限公司章程》（以 下简称"《公司章程》"）的规定，根据公司实际业务情况，制定本制度。 一、 审议及表决情况 青岛雷神科技股份有限公司（以下简称 "公司"）于 2026 年 3 月 27 日召开第三届董事会第十五次会议，会议审议通过了《关于制定 及修订公司部分内部管理制度的议案》的子议案《修订<外汇衍生品 交易业务管理制度>的议 ...

2025 官微二维码 年度报告 （如有） （如有） 1 第一节 重要提示、目录和释义 雷神科技 920190 青岛雷神科技股份有限公司 可视化年报 公司年度大事记 2 （或）致投资者的信 图 片 （如有） 事 件 描述 图 片 （如有） 事 件 描述 | 第一节 | 重要提示、目录和释义 | 1 | | --- | --- | --- | | 第二节 | | 公司概况 3 | | 第三节 | 会计数据和财务指标 | 5 | | 第四节 | | 管理层讨论与分析 8 | | 第五节 | | 重大事件 35 | | 第六节 | 股份变动及股东情况 | 40 | | 第七节 | 融资与利润分配情况 | 44 | | 第八节 | | 董事、高级管理人员及员工情况 48 | | 第九节 | | 行业信息 54 | | 第十节 | | 公司治理、内部控制和投资者保护 60 | | 第十一节 | 财务会计报告 | 68 | | 第十二节 | 备查文件目录 | 141 | 【声明】 公司董事、高级管理人员保证本报告所载资料不存在虚假记载、误导性陈述或者重大遗漏，并对其内容 的真实性、准确性和完整性承担个别及连带责任。 公司负 ...

Investment Rating - The investment rating for the company is "Outperform" (Maintain) [2] Core Insights - The company is expected to achieve a revenue of 3.042 billion yuan in 2025, representing a year-on-year growth of 2.93%, with a net profit attributable to the parent company of 23.12 million yuan, reflecting a year-on-year increase of 7.55% [4] - The company plans to launch the first high-end gaming host equipped with "Chinese chips" in 2025, which is expected to enhance its market position [6] - The company is focusing on expanding its overseas market presence and enhancing product innovation to improve competitiveness [4][5] Financial Summary - Revenue projections for 2023A to 2027E are as follows: 2.555 billion yuan, 2.955 billion yuan, 3.042 billion yuan, 3.569 billion yuan, and 4.097 billion yuan, with corresponding year-on-year growth rates of 5.8%, 15.7%, 2.9%, 17.3%, and 14.8% [6][8] - Net profit attributable to the parent company is projected to be 34 million yuan, 21 million yuan, 23 million yuan, 36 million yuan, and 48 million yuan for the years 2023A to 2027E, with year-on-year growth rates of -49.8%, -37.7%, 8.2%, 54.4%, and 32.5% respectively [6][8] - The company's EPS (Earnings Per Share) is expected to be 0.34 yuan, 0.21 yuan, 0.23 yuan, 0.36 yuan, and 0.48 yuan for the years 2023A to 2027E [6][8] - The P/E (Price to Earnings) ratios are projected to be 75.1, 120.4, 111.3, 72.1, and 54.4 for the respective years [6][8]

AI Industry Insights - In February 2026, China's AI model API usage surpassed the US for the first time, with 41.2 trillion tokens compared to the US's 29.4 trillion tokens[5] - The average daily usage of large models in China increased by 263% from H1 2025 to H2 2025, reaching 37 trillion tokens[12] - The demand for domestic computing power is experiencing exponential growth, driven by the rapid adoption of AI technologies[5] Market Performance - The median price change for technology growth stocks on the Beijing Stock Exchange was +0.70% from February 24 to February 27, 2026, with 63% of companies showing an increase[37] - Notable gainers included *ST Yun Chuang (+29.55%), Ke Li Co. (+21.79%), and Tonghui Information (+19.06%) during the same period[37] Valuation Metrics - The median TTM P/E ratio for the mechanical equipment sector rose from 44.0X to 50.0X, while the electronic equipment sector's median P/E increased from 60.5X to 61.0X[43][44] - The median market capitalization for electronic equipment companies increased from 22.4 billion yuan to 23.2 billion yuan[44] Sector Developments - The Beijing Stock Exchange has 28 companies in the AI+ industry chain, covering various segments such as computing power services, AI applications, and AI-powered products[31][32] - The AI computing market in China is projected to reach $25.9 billion in 2025, reflecting a year-on-year growth of 36.2%[26]

Core Viewpoint - Raytheon Technology (920190) reported a strong performance for the year 2025, with total revenue reaching 3.042 billion yuan, marking three consecutive years of year-on-year growth, and a profit of 27.98 million yuan, a significant increase of 24.64%, the highest growth rate since its listing [1] Group 1: Financial Performance - The company achieved a total revenue of 3.042 billion yuan and a profit of 27.98 million yuan, reflecting a 24.64% year-on-year increase [1] - The financial indicators improved significantly due to optimized sales structure, collaboration across three business segments, and deepened global layout [1] Group 2: E-sports Sector - The e-sports equipment segment remains the core foundation for the company, maintaining a leading advantage across all scenarios [1] - The company has signed over 225 e-sports hotel locations nationwide, demonstrating initial scale effects [1] - The self-owned IP event "Raytheon Cup.ACL" has attracted over 100,000 participants across more than 1,000 universities, expanding the company's industry influence [1] Group 3: Trust and Innovation Sector - The trust and innovation sector is positioned as the second growth curve for the company, entering a phase of scale and high-quality development [2] - The company has won over 300 projects in key industries such as government, finance, energy, education, and healthcare [2] - The company's "Double Hundred Plan" aims to establish 100 top agents and 100 leading industry users, laying a solid foundation for continued growth in the trust and innovation business [2] Group 4: AI Hardware Sector - The AI hardware sector is rapidly emerging as a new growth engine for the company, with products like AI PCs and smart glasses gaining significant market traction [3] - The AI smart glasses series launched in early 2025 sold out multiple times, indicating strong market demand for "AI + hardware" [3] - The company has established a core raw material reserve and dynamic management mechanism to mitigate risks associated with component price fluctuations [3] Group 5: Future Outlook - In 2026, the penetration rate of AI PCs is expected to accelerate, and smart glasses are becoming a high-potential consumer electronics segment [4] - The demand for trust and innovation is extending to state-owned enterprises and local state-owned enterprises, continuously expanding market space [4] - The e-sports industry's sportsification and industrialization processes are accelerating, leading to a more complete ecosystem [4]

Core Viewpoint - Raytheon Technology is set to release its 2025 annual report, with preliminary earnings showing a net profit of 0.231 billion yuan, reflecting a year-on-year growth of 7.55% [1] Financial Performance Summary - The company's operating revenue for the reporting period was 3,042,095,807.88 yuan, representing a year-on-year increase of 2.93% [2] - Total profit amounted to 27,976,198.49 yuan, which is a year-on-year growth of 24.64% [2] - The net profit attributable to shareholders was 23,122,027.14 yuan, up by 7.55% year-on-year [2] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 18,881,666.61 yuan, showing a year-on-year increase of 10.91% [2] - Basic earnings per share were 0.2312 yuan, reflecting a year-on-year growth of 7.53% [2] Asset and Equity Summary - At the end of the reporting period, total assets were 1,680,077,938.25 yuan, a decrease of 9.88% year-on-year [3] - Shareholders' equity attributable to the company was 857,759,001.85 yuan, which is a year-on-year increase of 0.46% [2] Strategic Focus - The company has adhered to a "gaming + innovation" dual-driven strategy, focusing on high-performance computing products and user needs, leading to steady growth in revenue and profits [2]

本次变更后，公司最新的联系方式如下： 青岛雷神科技股份有限公司 关于公司办公地址变更的公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假 记载、误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承 担个别及连带法律责任。 青岛雷神科技股份有限公司（以下简称"公司"）为进一步优 化办公环境、增强研发能力、改善员工体验、提升综合竞争力，已 于近日正式搬迁至新办公地址，现将变更情况公告如下： | 办公地址 | 青岛市崂山区松岭路169号 | 青岛市崂山区海尔路1号丁 | | --- | --- | --- | | 变更事项 | 变更前 青岛国际创新园A座14层 | 变更后 5号楼13-15层 | 除上述调整外，公司联系电话、电子邮箱等信息均保持不变。 敬请广大投资者留意上述变更事项。 证券代码：920190 证券简称：雷神科技 公告编号：2026-004 办公地址：青岛市崂山区海尔路1号丁5号楼13-15层 邮政编码：266101 公司网址：www.thunderobot.com 联系电话：0532-80991177 传 真：0532-80991177 公司邮箱：ir@leishen.cn ...

Financial Performance - The company's operating revenue for 2025 reached ¥3,042,095,807.88, representing a year-on-year increase of 2.93%[3] - Total profit for the period was ¥27,976,198.49, showing a significant growth of 24.64% compared to the previous year[3] - Net profit attributable to shareholders was ¥23,122,027.14, reflecting a year-on-year increase of 7.55%[3] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥18,881,666.61, up by 10.91% year-on-year[3] - Basic earnings per share increased to ¥0.2312, a rise of 7.53% from the previous year[3] Assets and Equity - Total assets at the end of the reporting period were ¥1,680,077,938.25, a decrease of 9.88% year-on-year[4] - Shareholders' equity attributable to the company was ¥857,759,001.85, showing a slight increase of 0.46%[4] - The decrease in total assets was primarily due to a reduction in cash and accounts receivable, attributed to increased payments to suppliers and loan repayments[5] Strategic Focus - The company maintained a dual-driven strategy focusing on "e-sports + innovative computing," which contributed to steady growth in revenue and profits[5] Financial Reporting - The financial data presented is preliminary and unaudited, with final figures to be disclosed in the annual report[7]