最近三个交易日，20日-22日，数据港分别获融资买入1.54亿元、1.38亿元、1.96亿元。 融券方面，当日融券卖出0.00万股，净卖出0.00万股。 8月22日，沪深两融数据显示，数据港获融资买入额1.96亿元，居两市第142位，当日融资偿还额1.99亿 元，净卖出318.16万元。 ...

人民财讯8月19日电，据数据港（603881）消息，数据港近日完成"2025年面向专业投资者公开发行科技 创新公司债券(算力基础设施)(第一期)"发行工作，标志着公司正式登陆交易所公司债市场。本期债券是 全市场首单数据中心产业主体科创债及算力基础设施主题科创债，发行规模5亿元，期限5年，票面利率 1.99%。 ...

Core Viewpoint - The establishment of a comprehensive data trading ecosystem in Jiangsu Province is underway, with the launch of the "Hundred Million" plan aimed at enhancing data circulation and utilization across various industries [1] Group 1: Data Trading Development - The Jiangsu Data Exchange, located in Nanjing, has launched 3,837 data products and achieved a trading volume of 99.1 million yuan, positioning itself as a key player in the province's data market [1] - The data exchange focuses on three main categories: data sets, data services, and data applications, facilitating the market-oriented allocation of data resources [1] Group 2: Industry Applications - The "Hundred Million" plan aims to create high-quality data trading zones in sectors such as healthcare, meteorology, industry, modern agriculture, and finance, providing essential data for artificial intelligence companies [1] - The initiative is expected to enhance the overall data ecosystem by addressing barriers to data flow and fostering a collaborative environment among over a thousand upstream and downstream enterprises [1]

证券代码：603881 证券简称：数据港 公告编号：2025-034 号 上海数据港股份有限公司 股东减持股份结果公告 一、减持主体减持前基本情况 ? 减持计划的主要内容 宁波锐鑫计划通过集中竞价及大宗交易方式减持不超过 12,499,758 股 公司股份，占公司总股本 718,376,999 股的 1.74%。其中通过集中竞价 交易方式减持不超过 5,315,989 股，占公司总股本的 0.74%，通过大宗 交易方式减持不超过 7,183,769 股，占公司总股本的 1%；减持期间自 公司减持计划公告披露之日起十五个交易日后的三个月内，减持价格 视市场价格确定。具体内容详见公司于 2025 年 7 月 3 日刊登在上海证 券交易所网站（www.sse.com.cn）及公司指定报刊媒体上的《上海数 据港股份有限公司股东集中竞价及大宗交易减持股份计划公告》 （公告 编号：2025-026 号）。 ? 减持计划的实施结果情况 自 2025 年 7 月 3 日（减持计划公告之日）起十五个交易日后（即 2025 年 7 月 25 日）进入减持可实施期间。在减持计划实施期间，宁波锐鑫 于 2025 年 7 月 25 日 ...

证券代码：603881 证券简称：数据港 公告编号：2025-034 号 上海数据港股份有限公司 股东减持股份结果公告 本公司董事会、全体董事及相关股东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： 股东持股的基本情况 本次减持计划实施前，宁波锐鑫创业投资合伙企业（有限合伙）（以下 简称"宁波锐鑫"）直接持有上海数据港股份有限公司（以下简称"数 据港"或"公司"）股份 104,942,364 股，占本公司总股本的 14.61%。 减持计划的主要内容 宁波锐鑫计划通过集中竞价及大宗交易方式减持不超过 12,499,758 股 公司股份，占公司总股本 718,376,999 股的 1.74%。其中通过集中竞价 交易方式减持不超过 5,315,989 股，占公司总股本的 0.74%，通过大宗 交易方式减持不超过 7,183,769 股，占公司总股本的 1%；减持期间自 公司减持计划公告披露之日起十五个交易日后的三个月内，减持价格 视市场价格确定。具体内容详见公司于 2025 年 7 月 3 日刊登在上海证 券交易所网站（www.sse.c ...

格隆汇8月18日丨数据港(603881.SH)公布，自2025年7月3日（减持计划公告之日）起十五个交易日后 （即2025年7月25日）进入减持可实施期间。在减持计划实施期间，宁波锐鑫于2025年7月25日至2025年 8月15日期间通过集中竞价和大宗交易方式累计减持所持有的公司股份12,496,922股，占总股本的 1.74%，减持后持有公司股份92,445,442股，占总股本的12.87%。2025年8月18日，公司收到宁波锐鑫通 知文件，上述减持已全部实施完毕。 ...

Summary of Data Port Conference Call Company Overview - Data Port reported a revenue of 810 million yuan for the first half of 2025, representing a year-on-year growth of 4.13% [2] - The net profit for the same period was 85 million yuan, up 20.37% year-on-year, while the net profit attributable to the parent company, excluding non-recurring gains and losses, was 70 million yuan, reflecting a 9.9% increase [2] - Cash flow has improved, with cash reserves reaching 2.4 billion yuan, providing financial support for future expansion [2] Industry Insights - Industry demand is expected to increase starting from the second half of 2024, despite initial impacts from the H20 ban on large manufacturers' capital expenditures [2][6] - The lifting of the H20 ban is anticipated to positively affect the AI industry chain and the IDC market [7] - Supply-side regulatory management is expected to promote healthier industry development, although short-term prices have not yet rebounded [6][7] Business Development - Data Port is focusing on small to medium-sized acquisition projects, targeting capacities between 10 MW to 80 MW, to expand its strategic customer base and increase revenue [2][10] - The company has a total capacity of approximately 371 MW as of mid-2025, with expectations for growth due to new customer orders [3] - The company is actively monitoring the first-tier market for price recovery, which has returned to acceptable levels [10] Regional Performance - The gross profit margin in East China has been affected by the handling of old data centers, while North China faced challenges due to project impacts from heavy rainfall [11] - The Midwest region is supportive of data center construction, offering policy incentives and stable green electricity supply [12] - Land acquisition costs in the West are lower than in the East, providing a cost advantage for future projects [14][15] Project Updates - The Langfang project has a 100% order signing rate, with the first building expected to be delivered by the end of September 2025 [16] - The design of the Langfang project primarily utilizes air cooling, with future adoption of liquid cooling dependent on power demand changes [18] Technology and Market Trends - Rapid development of liquid cooling technology is noted, with potential impacts on IDC layout strategies [4][17] - The demand for high-power cabinets has been expressed by some customers, but the volume remains low [20] Regulatory Environment - The National Development and Reform Commission (NDRC) has strict energy consumption audits for large IDC projects, affecting project approvals [21][22] - Wholesale IDC prices have stabilized without significant fluctuations [23] Pricing Strategy - Data Port does not have annual price adjustment clauses in contracts with major clients; pricing varies based on the speed of deployment [24] - The pricing model incentivizes faster deployment with lower unit prices [25]

Investment Rating - The report maintains a "Buy" rating for the company with a target price of RMB 33.14 [6][4]. Core Views - The company achieved a revenue of RMB 811 million in the first half of 2025, representing a year-on-year growth of 4.13%, and a net profit attributable to shareholders of RMB 85 million, up 20.37%, slightly exceeding previous expectations [1]. - The growth is primarily driven by the acceleration of the domestic AI industry, which has enhanced demand and improved the operational efficiency of the company's data centers [1][2]. - The report anticipates that the ongoing expansion of AI demand will continue to create new growth opportunities for the data center industry, benefiting the company as a leading player in the sector [2][4]. Summary by Sections Business Development - The company is actively expanding its business scale, having established 35 data centers across key regions such as Ulaanqab, Zhangbei, and Guangdong [2]. - The construction of key projects, including the Langfang project, is progressing as planned, which will strengthen the company's computing power supply capabilities in core areas [2]. Financial Performance - The gross margin for the first half of 2025 was 28.99%, a slight decrease of 0.39 percentage points year-on-year, mainly due to increased depreciation expenses from new projects [3]. - The company has effectively controlled its expenses, with sales, management, R&D, and financial expense ratios showing favorable trends [3]. Profitability Forecast - The report projects the company's EBITDA for 2025 to be RMB 1.066 billion, with expected growth continuing through 2027 [4][9]. - The target valuation is based on an EV/EBITDA multiple of 23 times for 2025, reflecting the positive industry outlook driven by AI demand [4][19].

Financial Performance - The company reported a total revenue of 811 million yuan for the first half of 2025, representing a year-on-year increase of 4.13% [1] - The net profit attributable to shareholders reached 84.96 million yuan, up 20.37% year-on-year [1] - In Q2 2025, the revenue was 415 million yuan, with a year-on-year growth of 4.66%, and the net profit was 40.90 million yuan, increasing by 17.45% year-on-year [1] - The gross margin improved to 28.99%, reflecting a year-on-year increase of 6.35%, while the net margin rose to 10.47%, up 15.56% year-on-year [1] Cost Management - Total selling, administrative, and financial expenses amounted to 76.31 million yuan, accounting for 9.42% of revenue, which is a decrease of 14.2% year-on-year [1] - The company reported a decrease in net asset per share to 4.57 yuan, down 13.87% year-on-year, and operating cash flow per share decreased to 0.57 yuan, down 12.0% year-on-year [1] Financial Changes - Cash and cash equivalents increased by 61.23% due to higher collections during the reporting period [2] - Prepayments decreased by 58.53% as a result of reduced advance payments for electricity [2] - The company saw a significant increase in investment income by 219.94%, attributed to higher amounts invested in structured deposit products [3] Debt and Receivables - The company has a healthy cash asset position, but the interest-bearing debt ratio has reached 33.98% [5][6] - Accounts receivable have reached 135.08% of profit, indicating a potential concern regarding collection efficiency [6] Market Position - The company’s return on invested capital (ROIC) was reported at 3.53%, which is below the historical median of 10.59% since its listing [4] - Analysts expect the company's performance for 2025 to reach 158 million yuan, with an average earnings per share of 0.22 yuan [6] Fund Holdings - The largest fund holding the company’s shares is the Huashang Computer Industry Quantitative Stock Fund, with 324,100 shares and a recent net value of 1.2791 [7] - The fund has seen a significant increase of 72.18% over the past year [7]

Group 1 - The 2025 Financial AI Inference Application Landing and Development Forum was held at the Financial Data Port AI Innovation Center on August 12, with key figures from China UnionPay and Huawei in attendance [1] - Huawei's Vice President and President of the Data Storage Product Line, Dr. Zhou Yuefeng, introduced the AI inference innovation technology called UCM Inference Memory Data Manager at the forum [3] - China UnionPay plans to leverage the National Artificial Intelligence Application Pilot Base to collaborate with Huawei and other ecosystem partners to build "AI + Finance" demonstration applications, transitioning technology results from "laboratory validation" to "large-scale application" [5] Group 2 - Huawei and China UnionPay jointly released the application results of the Smart Financial AI Inference Acceleration Program during the forum [3][5]