Core Viewpoint - The company reported a decline in revenue and net profit for Q1 2025, while focusing on optimizing its core business and expanding its intelligent computing capabilities [1][2]. Group 1: Financial Performance - The company achieved revenue of 1.41 billion yuan in Q1 2025, a year-on-year decrease of 2.07% [1]. - The net profit attributable to shareholders was 42 million yuan, down 29.03% year-on-year [1]. - The non-recurring net profit was 39 million yuan, reflecting a decline of 26.98% year-on-year [1]. - The gross profit margin stood at 17.29%, a decrease of 1.01 percentage points year-on-year [1]. Group 2: Strategic Initiatives - The company is actively optimizing its core business structure and focusing on intelligent computing, with plans to enhance its IDC capabilities [1]. - The second phase of the Songjiang Big Data Computing Center is a major project aimed at establishing a large-scale, autonomous intelligent computing infrastructure in Shanghai [1]. - The company completed the equity transfer of Shanghai Broadcasting Communication Technology Co., Ltd. and is advancing the integration of Shanghai Yidian Analytical Instrument Co., Ltd. into its platform [1]. Group 3: Industry Outlook - Local government policies in Shanghai are promoting the development of the computing power industry, which the company is well-positioned to benefit from [2]. - The Shanghai government has introduced measures to support the use of intelligent computing resources, including the establishment of computing power vouchers [2]. - By 2027, Shanghai aims for its intelligent computing industry to exceed 200 billion yuan, with a focus on building a complete ecosystem [2]. Group 4: Investment Projections - Revenue projections for the company from 2025 to 2027 are 6.62 billion yuan, 7.80 billion yuan, and 9.11 billion yuan, with year-on-year growth rates of 17.76%, 17.77%, and 16.77% respectively [3]. - Net profit projections for the same period are 263 million yuan, 309 million yuan, and 364 million yuan, with growth rates of 30.19%, 17.13%, and 17.96% respectively [3]. - The company is expected to benefit from its deep involvement in Shanghai's digitalization efforts and the completion of the Songjiang Phase II project [3].

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The company achieved a revenue of 5.623 billion yuan in 2024, representing a year-on-year growth of 6.82%, and a net profit attributable to shareholders of 202.39 million yuan, up 4.92% year-on-year [1] - In Q1 2025, the company reported a revenue of 1.41 billion yuan, a decrease of 2.07% year-on-year, and a net profit of 42 million yuan, down 29.03% year-on-year, which met market expectations [1] - The report highlights the acceleration of computing power construction in Shanghai, with the company positioned as a leader in this sector [8] Financial Summary - For 2023A, total revenue is projected at 5.264 billion yuan, with a net profit of 192.91 million yuan, and an EPS of 0.14 yuan per share [1] - The forecast for 2024A includes total revenue of 5.623 billion yuan and a net profit of 202.39 million yuan, with an EPS of 0.15 yuan [1] - The company expects to achieve a total revenue of 6.380 billion yuan in 2025E, with a net profit of 222.17 million yuan, and an EPS of 0.16 yuan [1] - The projected P/E ratio for 2025E is 140.11 [1] - The company’s gross margin for the cloud computing and big data business is 18.55%, showing a slight increase [8]

证券代码：600602 证券简称：云赛智联 编号：临 2025-020 900901 云赛 B 股 云赛智联股份有限公司 十二届十五次监事会会议决议公告 本公司监事会及全体监事保证本公告内容不存在任何虚假记载、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。 云赛智联股份有限公司（以下简称：公司、云赛智联）监事会十二届十五 次会议书面通知于2025年4月18日发出，并于2025年4月25日以通讯表决方式召 开会议。会议应出席监事3人，实际出席监事3人。会议由公司监事会主席朱晓 东先生主持。本次会议符合《公司法》、《上海证券交易所股票上市规则》和 《公司章程》等有关法律、法规的要求，所做决议合法有效。会议审议并通过 了《云赛智联2025年第一季度报告》。 该报告已经公司董事会审计与合规委员会审议通过。 表决结果：3票同意、0票反对、0票弃权。 详见同日披露的《云赛智联2025年第一季度报告》。 监事会关于公司2025年第一季度报告的审核意见： 1、2025年第一季度报告编制和审议程序符合法律、法规、公司章程和公司 内部管理制度的各项规定； 2、2025年第一季度报告的内容和格式符 ...

本公司董事会及全体董事保证本公告内容不存在任何虚假记载、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。 云赛智联股份有限公司（以下简称：公司、云赛智联）董事会十二届十六 次会议书面通知于2025年4月18日发出，并于2025年4月25日以通讯表决方式召 开会议。会议应出席董事7人，实际出席董事7人。会议由公司董事长黄金刚先 生主持，公司监事会成员及高级管理人员列席了本次会议。本次会议符合《公 司法》、《上海证券交易所股票上市规则》和《公司章程》等有关法律、法规 的要求，所做决议合法有效。 证券代码：600602 证券简称：云赛智联 编号：临 2025-019 900901 云赛 B 股 云赛智联股份有限公司 十二届十六次董事会会议决议公告 特此公告。 云赛智联股份有限公司董事会 二〇二五年四月二十六日 会议审议并通过了《云赛智联2025年第一季度报告》。 该报告已经公司董事会审计与合规委员会审议通过。 表决结果：7票赞成，0票反对，0票弃权。 详见同日披露的《云赛智联2025年第一季度报告》。 ...

Financial Performance - The company's operating revenue for Q1 2025 was ¥1,410,416,169.56, a decrease of 2.07% compared to ¥1,425,259,492.75 in the same period last year[5] - Net profit attributable to shareholders decreased by 29.03% to ¥42,122,266.98 from ¥60,015,547.36 year-on-year[5] - Basic and diluted earnings per share fell by 27.91% to ¥0.031 from ¥0.044 in the previous year[6] - The weighted average return on net assets decreased by 0.391 percentage points to 0.880% from 1.294%[6] - Total operating revenue for Q1 2025 was CNY 1,410,416,169.56, a decrease of 2.3% from CNY 1,440,194,460.08 in Q1 2024[22] - Net profit for Q1 2025 was CNY 45,508,225.46, a decline of 21.1% compared to CNY 57,745,509.60 in Q1 2024[23] - Earnings per share for Q1 2025 were CNY 0.031, down from CNY 0.043 in Q1 2024[23] Cash Flow and Liquidity - The net cash flow from operating activities was negative at -¥437,045,694.41, indicating a continued cash outflow[5] - Cash flow from operating activities for Q1 2025 was negative CNY 437,045,694.41, slightly worse than negative CNY 434,982,900.86 in Q1 2024[26] - Cash received from investment activities in Q1 2025 was CNY 31,692,396.59, significantly lower than CNY 630,058,330.00 in Q1 2024[26] - The company reported a significant decrease in cash flow from investment activities, with a net cash flow decline of approximately 30% compared to the previous period[27] - The cash balance at the beginning of the period was $2.11 billion, reflecting a substantial decrease in liquidity[27] Assets and Liabilities - Total assets at the end of the reporting period were ¥7,698,785,583.59, down 2.50% from ¥7,842,397,292.65 at the end of the previous year[6] - Total current assets as of March 31, 2025, amount to ¥4,717,730,342.15, an increase from ¥4,563,626,505.96 as of December 31, 2024[17] - Total liabilities decreased to ¥2,486,748,596.55 from ¥2,696,688,143.64, reflecting a reduction of about 7.8%[18] - Total liabilities decreased to CNY 2,790,544,185.78 in Q1 2025 from CNY 2,993,701,846.92 in Q1 2024[19] - Non-current assets totaled ¥2,981,055,241.44, down from ¥3,332,310,722.71[18] Shareholder Information - Total number of common shareholders at the end of the reporting period is 238,010[13] - The largest shareholder, Shanghai Yidian (Group) Co., Ltd., holds 383,337,947 shares, representing 28.03% of total shares[13] - The company's equity attributable to shareholders increased slightly by 0.22% to ¥4,793,709,428.96 from ¥4,752,460,865.60[6] - Total equity increased slightly to CNY 4,908,241,397.81 in Q1 2025 from CNY 4,902,235,381.75 in Q1 2024[19] Business Developments - The decrease in net profit was primarily due to a decline in business and interest income[11] - The company completed the acquisition of a 79.1991% stake in Shanghai Yidian Analysis Instrument Co., Ltd. on February 5, 2025[7] - The company has no significant new product or technology developments reported in the conference call[15] - There are no changes in the shareholder structure or significant financing activities reported during the period[14] Other Financial Metrics - Non-recurring gains and losses amounted to ¥3,426,926.90 after tax adjustments[10] - Cash and cash equivalents decreased to ¥1,712,133,621.62 from ¥2,268,054,421.36[17] - Accounts receivable increased to ¥1,042,669,736.05 from ¥786,709,332.89, indicating a growth of approximately 32.5%[17] - The company reported a decrease in inventory, with total inventory at ¥1,278,455,997.73 compared to ¥1,279,179,682.57[17] - Deferred income increased to CNY 26,095,999.75 in Q1 2025 from CNY 21,857,713.53 in Q1 2024[19] - Cash paid for purchasing fixed assets in Q1 2025 was CNY 25,342,966.78, compared to CNY 82,567,110.95 in Q1 2024[26] Management and Governance - The management team includes key personnel such as Huang Jingang and Tang Qing, responsible for accounting oversight[27] - The company did not execute any new accounting standards or interpretations that would affect the financial statements for the current year[27]

Market Overview - The Shanghai Composite Index fell by 0.07% on April 25, with 21 out of the 28 sectors experiencing gains, led by utilities and telecommunications, which rose by 1.36% and 1.15% respectively [1] - The computer industry also saw an increase of 0.78% [1] Capital Flow Analysis - The net inflow of capital in the two markets was 4.975 billion yuan, with 14 sectors experiencing net inflows [1] - The computer industry had the highest net inflow of 3.368 billion yuan, followed by utilities with a net inflow of 1.581 billion yuan [1] Computer Industry Performance - Within the computer sector, 336 stocks were tracked, with 227 stocks rising and 100 stocks declining [2] - The top stock in terms of net capital inflow was Tuowei Information, which saw an inflow of 1.750 billion yuan, followed by Yunsai Zhili and Meiri Interactive with inflows of 365 million yuan and 281 million yuan respectively [2] - The stocks with the highest net outflows included Yanshan Technology, Sifang Jingchuang, and Zhongke Shuguang, with outflows of 168 million yuan, 147 million yuan, and 89.81 million yuan respectively [2][3] Top Gainers in Computer Sector - The top gainers in the computer sector included: - Tuowei Information: +10.01% with a turnover rate of 16.82% and a capital flow of 1.750 billion yuan - Yunsai Zhili: +5.61% with a turnover rate of 11.04% and a capital flow of 364.72 million yuan - Meiri Interactive: +5.43% with a turnover rate of 25.08% and a capital flow of 281.30 million yuan [2] Top Losers in Computer Sector - The top losers in the computer sector included: - Yanshan Technology: -1.16% with a turnover rate of 3.95% and a capital outflow of 167.94 million yuan - Sifang Jingchuang: -4.40% with a turnover rate of 16.27% and a capital outflow of 146.70 million yuan - Zhongke Shuguang: +0.03% with a turnover rate of 1.25% and a capital outflow of 89.81 million yuan [3]

Group 1 - The concept of computing power leasing continues to rise, leading to a surge in stock prices for related companies [1] - Tuo Wei Information has reached its daily limit increase, indicating strong market interest [1] - Other companies such as Hongbo Co., Tianyu Digital Science, and several others have also seen significant stock price increases, with some rising over 5% [1]

A股DeepSeek概念股表现活跃，天娱数科涨停，每日互动涨超9%，卫宁健康、云赛智联等个股上涨。 ...

Core Viewpoint - The company, YunSai ZhiLian, will participate in the 2024 Annual Shanghai Stock Exchange Main Board Artificial Intelligence Collective Performance Briefing on April 30, 2025, to discuss its 2024 annual report and the first quarter of 2025 [2][3]. Group 1: Event Details - The performance briefing is scheduled for April 30, 2025, from 14:00 to 17:00 [4]. - The event will take place at the Shanghai Stock Exchange Roadshow Center and will be available via video live stream and online interaction [4][5]. - Investors can submit questions from April 24 to April 28, 2025, and the company will address common concerns during the briefing [2][5]. Group 2: Participants - Key participants in the briefing include General Manager Weng Junqing, Independent Director Li Yuanqin, Chief Accountant Tang Qing, and Secretary of the Board Zhang Xing [4][5]. Group 3: Contact Information - For inquiries, investors can contact the Board Office via phone at 021-34695838 or 021-34695939, or email at stock@inesa-it.com [6].

证券代码：600602 证券简称：云赛智联 编号：临2025-018 900901 云赛 B 股 云赛智联股份有限公司 关于参加 2024 年度沪市主板人工智能专题 集体业绩说明会的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、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法律责任。 重要内容提示： （ http://roadshow.sseinfo.com ） 及 上 海 证 券 报 · 中 国 证 券 网 路 演 中 心 （https://roadshow.cnstock.com） 会议召开方式：上证路演中心视频直播和网络互动 投资者可于 2025 年 4 月 24 日（星期四）至 28 日(星期一)16:00 前登录上证 路演中心网站首页点击"提问预征集"栏目或通过公司邮箱：stock@inesa-it.com 进行提问。公司将在说明会上对投资者普遍关注的问题进行回答。 云赛智联股份有限公司（以下简称：云赛智联、公司）已于 2025 年 3 月 27 日披露公司 2024 年年度报告，将于 2025 年 4 月 26 日披露公司 2025 年第一季度 报告，为便于广大投 ...