Core Viewpoint - YunSai ZhiLian (600602) announced that its subsidiary, Shanghai YiDian Scientific Instrument Co., Ltd. (referred to as "YiDian KeYi"), plans to acquire 79.2% equity of Shanghai YiDian Analytical Instrument Co., Ltd. (referred to as "Analytical Instrument") from Shanghai YiDian Electronics (Group) Co., Ltd. (referred to as "YiDian Electronics") through an agreement [1] Group 1 - The total equity assessment value of Analytical Instrument is 50.4057 million yuan [2] - Both YiDian KeYi and YiDian Electronics are ultimately controlled by Shanghai (YiDian) Group Co., Ltd. [3] - The acquisition of Analytical Instrument's equity by YiDian KeYi is expected to enhance the integration of the company's scientific instrument business resources, creating synergistic effects [4]

基于上海仪电科学仪器股份有限公司和上海仪电分析仪器有限公司之间存 在较强业务关联性，在采购、销售、技术上具有较大的共通性，可以形成合 力，有利于促进科学仪器板块联动发展，同意公司控股子公司上海仪电科学仪 器股份有限公司以2023年12月31日为评估基准日，以经国资备案的评估值为基 准，通过协议方式受让上海仪电电子 (集团) 有限公司所持上海仪电分析仪器 有限公司79.1991%股权。 该议案已经公司独立董事专门会议及董事会审计与合规委员会会议审议通 过。 证券代码：600602 证券简称：云赛智联 编号：临 2024-038 900901 云赛 B 股 云赛智联股份有限公司 十二届十二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）监事会十二届十二次会议书面 通知于2024年12月13日发出，并于2024年12月19日在徐汇区宜州路180号B6栋9 楼公司会议室召开会议。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 ...

证券代码：600602 股票简称：云赛智联 编号：临2024-039 900901 云赛 B 股 云赛智联股份有限公司 关于控股子公司仪电科仪受让仪电电子所持 分析仪器79.1991%股权暨关联交易的公告 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个别及连带责任。 重要内容提示： 交易简要内容：基于上海仪电科学仪器股份有限公司和上海仪电分析仪器有 限公司之间存在较强业务关联性，在采购、销售、技术上具有较大的共通性， 可以形成合力，有利于促进科学仪器板块联动发展，同意公司控股子公司上 海仪电科学仪器股份有限公司以 2023 年 12 月 31 日为评估基准日，以经国 资备案的评估值为基准，通过协议方式受让上海仪电电子 (集团) 有限公司 所持上海仪电分析仪器有限公司 79.1991%股权。 本次交易构成关联交易。 本次交易未构成重大资产重组。 截至目前，除本次董事会审议通过的关联交易外，过去 12 个月公司与上海 仪电（集团）有限公司及其下属子公司发生除日常关联交易外的关联交易金 额为 5426 万元。 限公司，符合《上海证券交易所股 ...

该议案为关联交易议案，关联董事黄金刚、徐珏回避表决。 云赛智联股份有限公司 十二届十二次董事会会议决议公告 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）董事会十二届十二 次会议书面通知于2024年12月13日发出，并于2024年12月19日在徐汇区宜州路 180号B6栋9楼公司会议室召开会议。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。会议审议并通过了以 下议案： 一、云赛智联关于控股子公司仪电科仪受让仪电电子所持分析仪器 79.1991%股权暨关联交易的议案； 基于上海仪电科学仪器股份有限公司和上海仪电分析仪器有限公司之间存 在较强业务关联性，在采购、销售、技术上具有较大的共通性，可以形成合 力，有利于促进科学仪器板块联动发展，同意公司控股子公司上海仪电科学仪 器股份有限公司以2023 ...

Company Performance - Yunsai Zhilian's Yidian Intelligent Computing Center (Songjiang) has been awarded the 5A-level intelligent computing center performance certification, excelling in five key dimensions: theoretical computing power, effective computing power, computing power efficiency, and business model scenario support capabilities [1] Industry Event - The 2024 International Computing Power Standards and Applications Symposium (ISCT'24) was held on November 19, where the certification was announced [1] Key Metrics - The certification evaluates computing centers based on theoretical computing power, effective computing power, computing power efficiency, and business model scenario support capabilities [1]

本次活动将采取网络的方式举行，投资者可以登录"上证路演中心"网站 （https://roadshow.sseinfo.com）或关注微信公众号上证路演中心参与互动交 流，活动时间为 2024 年 11 月 13 日（周三）15:00 至 16:30。 届时公司董事兼总经理翁峻青先生、独立董事封松林先生、独立董事李远勤 女士、独立董事董剑萍女士、总会计师唐青女士、董事会秘书张杏兴先生将通过 网络在线交流形式与投资者就公司治理、发展战略、经营状况、融资计划和可持 续发展等投资者关注的问题进行沟通。 欢迎广大投资者积极参与。 特此公告！ 证券代码：600602 证券简称：云赛智联 编号：临2024-036 900901 云赛B 股 云赛智联股份有限公司 关于参加 2024 年上海辖区上市公司 三季报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个别及连带责任。 为进一步加强与广大投资者的沟通交流，云赛智联股份有限公司（以下简称 "公司"）将参加"2024 年上海辖区上市公司三季报集体业绩说明会"活动，现 将有关事项公告如 ...

Investment Rating - The report assigns a "Buy" rating for the company, marking its first coverage [2]. Core Insights - The company, YunSai ZhiLian, is positioned to capitalize on Shanghai's digital transformation through AI computing and data elements, focusing on building a robust foundation for urban digitalization and smart city operations [3][4]. - In the first three quarters of 2023, the company achieved a revenue of 4.012 billion yuan, representing a year-on-year growth of 8.25%, and a net profit attributable to shareholders of 158 million yuan, up 1.22% year-on-year [3]. - The company is actively developing intelligent computing infrastructure and AI applications, with plans to accelerate the construction of its data centers and support the growth of its invested company, Shanghai Intelligent Computing Technology Co., Ltd. [4][5]. Financial Summary - The company reported a revenue of 5.264 billion yuan for 2023, with projected revenues of 6.062 billion yuan in 2024, 7.204 billion yuan in 2025, and 8.568 billion yuan in 2026, reflecting growth rates of 16.09%, 15.16%, 18.84%, and 18.93% respectively [8][10]. - The net profit attributable to shareholders is forecasted to be 192.91 million yuan in 2023, increasing to 222.32 million yuan in 2024, 270.64 million yuan in 2025, and 331.80 million yuan in 2026, with growth rates of 6.70%, 15.24%, 21.74%, and 22.60% respectively [8][10]. - The earnings per share (EPS) are projected to be 0.14 yuan in 2023, rising to 0.16 yuan in 2024, 0.20 yuan in 2025, and 0.24 yuan in 2026 [8][10]. Strategic Developments - The company is enhancing its capabilities in public data development, aligning with national policies aimed at accelerating the utilization of public data resources by 2025 [5][6]. - The establishment of the Shanghai Data Group and the implementation of local data regulations provide a solid legal framework for the company's operations in public data management [6].

Investment Rating - The report maintains a "Buy" rating for the company [1][3] Core Views - The company has shown significant growth in its non-recurring net profit, with a year-on-year increase of 39.5% in the first three quarters, despite a slight decline in total revenue [3] - The company is positioned to benefit from accelerated policies regarding data resources, as it serves as a key integrator and operator of data platforms in Shanghai [3] - The company's future in computing power leasing is promising, with ongoing developments in its data centers [3] Financial Summary - Total revenue for the first three quarters reached RMB 4.01 billion, reflecting an 8.3% year-on-year growth [3] - The net profit attributable to the parent company for the first three quarters was RMB 160 million, a 1.2% increase year-on-year, while the non-recurring net profit was RMB 140 million, marking a 39.5% increase [3] - Research and development expenses for the first three quarters amounted to RMB 290 million, a 12.7% increase year-on-year [3] - The company expects net profits for 2024, 2025, and 2026 to be RMB 230 million, RMB 280 million, and RMB 330 million respectively, with corresponding EPS of RMB 0.17, RMB 0.20, and RMB 0.24 [3][4] Valuation Metrics - The company’s projected P/E ratios for 2024, 2025, and 2026 are 87X, 72X, and 59X respectively [4][5] - The expected EBITDA for 2024, 2025, and 2026 is RMB 205 million, RMB 274 million, and RMB 328 million respectively [4][5] - The company’s market capitalization is approximately RMB 19.72 billion [2]

Investment Rating - The investment rating for the company is "Hold" [5][11]. Core Insights - The company reported a revenue of 4.012 billion yuan for the first three quarters of 2024, representing a year-on-year growth of 8.25%. The net profit attributable to shareholders was 158 million yuan, up 1.22% year-on-year. The company is expected to benefit from the development of the data element industry and computing power facility construction due to its deep involvement in Shanghai's urban digitalization and the upcoming completion of the Songjiang Phase II project [3][7]. Financial Performance Summary - For the third quarter of 2024, the company achieved a revenue of 1.122 billion yuan, a decrease of 7.13% year-on-year. The net profit attributable to shareholders was 45 million yuan, down 28.95% year-on-year. The non-recurring net profit was 42 million yuan, showing a significant increase of 223.46% year-on-year. The gross margin for the third quarter was 21.72%, an increase of 2.58 percentage points year-on-year [7][8]. Project Development - The company is set to start the construction of the Songjiang Data Center Phase II project, which will include approximately 1,124 high-power racks with a total IT power of 22MW and an estimated total investment of 795 million yuan. The project is expected to be completed and delivered by October 2024 [7][8]. Market Position and Future Outlook - The company is the total integrator and operator of the Shanghai Big Data Center resource platform and has maintained a deep cooperation with the municipal big data center since its establishment in 2018. The company is expected to benefit from the recent public data policies released by the National Data Bureau [7][8]. Revenue and Profit Forecast - The projected revenues for 2024, 2025, and 2026 are 6.041 billion yuan, 6.900 billion yuan, and 7.899 billion yuan, respectively, with year-on-year growth rates of 14.76%, 14.23%, and 14.47%. The net profit attributable to shareholders is expected to be 223 million yuan, 284 million yuan, and 381 million yuan for the same years, with growth rates of 15.81%, 27.16%, and 34.14% respectively [7][8].