证券简称：城地香江 证券代码：603887 公告编号：2026-020 上海城地香江数据科技股份有限公司 关于前期已披露重要项目进展的公告 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： 上海城地香江数据科技股份有限公司（以下简称"公司"）前期披露了《关于 全资子公司签订重大合同进展的公告》（公告号：2026-016、2026-018），现各 相关方已完成了该项目建设和运维两份合同的签署，具体情况如下： 包括项目设计、设备材料采购、安装、调试、试验等 EPCO 工程总承包全 量工作内容，具体范围以发包人或发包人关联公司下达的订单内容为准。 一、合同基本情况及主要条款 1、项目名称：中国移动长三角（扬州）数据中心机电工程 EPCO 项目 2、发包人：中国移动通信集团江苏有限公司扬州分公司 3、承包人主要信息 承包人：深圳市中兴通讯技术服务有限责任公司（联合体牵头方，以下简 称"中兴通讯"） 香江系统工程有限公司（联合体成员方，以下简称"香江系统"） 上海邮电设计咨询研究院有限公司（联合体成员方，以下简称"邮电设计 ...

证券简称：城地香江 证券代码：603887 公告编号：2026-019 重要内容提示： 2026 年 3 月 17 日，中国移动采购与招标网（https://b2b.10086.cn/）发布了 《中国移动浙江公司 2026 年长三角（嘉善）数据中心二期机电工程 EPC 总承包 采购项目_中标候选人公示》，确定香江系统（牵头人）与中通服联合体中标"中 国移动浙江公司 2026 年长三角（嘉善）数据中心二期机电工程 EPC 总承包采购 项目（标包 1）"（简称"本项目"），现已进入中标候选公示阶段，相关情况如下： 一、中标候选的基本情况 1、项目名称：中国移动浙江公司 2026 年长三角（嘉善）数据中心二期机电 工程 EPC 总承包采购项目（标包 1） 2、招标人：中国移动通信集团浙江有限公司、中国移动通信集团有限公司 浙江分公司 3、公示期：自公示之日起连续 3 日，截止时间为 2026-03-20 19:00 4、中标候选人主要信息： 本项目为联合体中标：根据联合体协议约定，香江系统工程有限公司（以下简称"香 江系统"或"子公司"）承担合同工作量的 99.13%、中通服咨询设计研究院有限公司 （以下简称"中通 ...

证券简称：城地香江 证券代码：603887 公告编号：2026-018 上海城地香江数据科技股份有限公司 关于全资子公司签订重大合同进展的公告 本项目为前期投建维项目的后续进展：因原项目合同合作内容变化，根据合同双 方友好协商，公司子公司香江系统工程有限公司、上海启斯云计算有限公司（以 下简称"香江系统"、"上海启斯"、"子公司"）将不再执行原合同 B04~B05 机房楼 的合同义务，同时，中国移动通信集团有限公司江苏分公司、中国移动通信集团 江苏有限公司扬州分公司（以下简称"发包人"）将 B04~B05 机房楼的服务内容改 为 EPC 工程施工及运维服务并公开招标（详见公告 2016-002），公司子公司已成 功中标。根据本次项目安排，项目建设合同与运维合同分开签署。公司子公司已 就本项目签署建设合同，相关情况详见公司披露的《关于全资子公司签订重大合 同进展的公告》（公告编号：2026-016）。本次为子公司签署项目运维合同阶段， 具体内容详见本公告正文。 本项目为联合体中标：根据联合体协议约定，深圳市中兴通讯技术服务有限责任 公司（以下简称"中兴通讯"）承担 30%；香江系统承担 52.6%；上海邮电设计 ...

Investment Rating - The industry investment rating is "stronger than the market," indicating an expected performance that exceeds the market by more than 5% over the next six months [24]. Core Insights - Oracle's Q3 FY26 performance was strong, with total revenue reaching $17.2 billion, a 22% increase year-over-year in USD terms, and an 18% increase at constant exchange rates. Cloud revenue was $8.9 billion, growing 44% in USD terms and 41% at constant exchange rates [3][6]. - The launch of the "Lobster" products by Zhipu and Tencent is expected to drive sustained high demand for AI computing power, transitioning AI from dialogue interaction to autonomous execution, thus opening up commercial monetization opportunities for large models [10][12]. - The report emphasizes the ongoing development of domestic large models in China, which are expected to enhance their usability and accelerate their application across various industries [20]. Summary by Sections Oracle's Q3 FY26 Performance - Oracle achieved a total revenue of $17.2 billion in Q3 FY26, with a 22% year-over-year increase in USD terms and an 18% increase at constant exchange rates. Cloud business revenue reached $8.9 billion, growing 44% in USD terms and 41% at constant exchange rates. Non-GAAP operating profit was $7.4 billion, a 19% year-over-year increase, and Non-GAAP net profit was $5.2 billion, a 23% increase [3][6][8]. AI Computing Power Demand - The rapid adoption of the Lobster (OpenClaw) AI agents is expected to create a continuous high demand for AI computing power. The features of these products will lead to exponential growth in token consumption, further driving the demand for computing resources [10][12]. Investment Recommendations - The report recommends focusing on AI computing power companies such as Haiguang Information, Longxin Zhongke, and Inspur Information, among others. For AI algorithms and applications, strong recommendations include Hengsheng Electronics and Zhongke Chuangda [20].

证券简称：城地香江 证券代码：603887 公告编号：2026-017 上海城地香江数据科技股份有限公司 关于全资子公司签订重大合同进展的公告 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： 敬请投资者注意相关风险。 上海城地香江数据科技股份有限公司（以下简称"公司"）前期披露了《关于 全资子公司项目中标候选公示的提示性公告》（公告号：2026-004），现各相关 方已完成了该项目合同的签署，具体情况如下： 一、项目基本情况及主要条款 1、项目名称：中国移动（宁夏中卫）数据中心 D 区 D03、D04 机楼机电 工程 EPC 总承包采购项目 2、发包人：中国移动通信集团有限公司宁夏分公司 3、承包人主要信息 承包人：中建三局第一建设工程有限责任公司（联合体牵头方） 香江系统工程有限公司（联合体成员方） 上海邮电设计咨询研究院有限公司（联合体成员方） 4、工程承包范围 本项目为联合体中标：根据联合体协议约定，中建三局第一建设工程有限责任公 司（以下简称"中建三局"）承担合同工作量的 20%；香江系统工程有限公司（ ...

证券简称：城地香江 证券代码：603887 公告编号：2026-016 上海城地香江数据科技股份有限公司 关于全资子公司签订重大合同进展的公告 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： 上海城地香江数据科技股份有限公司（以下简称"公司"）前期披露了《关于 全资子公司重大项目进展暨中标候选公示的提示性公告》（公告号：2026-011）， 现发包人、联合体成员香江系统和联合体成员上海启斯已完成了该项目合同的签 署，具体情况如下： 本项目为前期投建维项目的后续进展：因原项目合同合作内容变化，根据合同双 方友好协商，公司子公司香江系统工程有限公司、上海启斯云计算有限公司（以 下简称"香江系统"、"上海启斯"、"子公司"）将不再执行原合同 B04~B05 机房楼的合同义务，同时，中国移动通信集团有限公司江苏分公司、中国移动通 信集团江苏有限公司扬州分公司（以下简称"发包人"）将 B04~B05 机房楼的服 务内容改为 EPC 工程施工及运维服务并公开招标，公司子公司参与了此次投标。 具体详见公司前期已披露中国移动长 ...

Core Viewpoint - The company Chengdi Xiangjiang (603887) has signed a renewed cooperation agreement with China Unicom Shanghai for the "Shanghai Unicom Zhoupu IDC Phase II" project, with an estimated contract value of 642 million yuan [1] Group 1: Contract Details - The subsidiary Shanghai Qisi Cloud Computing Co., Ltd. is required to provide 3,280 cabinets (including various power types) and associated facilities [1] - The new agreement has reduced service prices compared to the original contract and shortened the service duration in line with current industry practices [1] - Transition period fees between the expiration of the original contract and the effective date of the new agreement will still be executed at the original contract standards [1] Group 2: Additional Agreements - A supplementary agreement has been signed regarding the self-use cabinets by China Unicom, which will be settled at the reduced price after the expiration of the original agreement, maintaining the same service period as the main agreement [1]

Group 1 - Ninebot Company achieved a revenue of 21.325 billion yuan in 2025, a year-on-year increase of 50.22%, and a net profit of 1.755 billion yuan, up 61.84% [1] - Huizhong Co., Ltd. reported a revenue of 450 million yuan in 2025, a 16.79% increase, with a net profit of 66.2099 million yuan, up 14.7% [2] - Dalian Heavy Industry achieved a revenue of 15.501 billion yuan in 2025, an 8.54% increase, with a net profit of 588 million yuan, up 18.17% [3] - Jiepte's optical connection business is still in its early stages, contributing less than 5% to total revenue, with uncertainties due to market demand and competition [4] - Yuanguang Software reported a revenue of 2.593 billion yuan in 2025, an 8.12% increase, with a net profit of 301 million yuan, up 2.8% [5] - Kaipu Cloud reported a revenue of 418 million yuan in 2025, a 32.24% decrease, with a net loss of 10.8071 million yuan [6] - Cambricon achieved a total revenue of 6.497 billion yuan in 2025, a 453.21% increase, with a net profit of 2.059 billion yuan, compared to a loss of 452 million yuan in the previous year [7] - Sanxin Medical reported a revenue of 1.64 billion yuan in 2025, a 9.31% increase, with a net profit of 262 million yuan, up 15.43% [8] - Wanji Technology won a project bid worth 22 million yuan, aligning with its smart connected business development plan [9] - Xingrong Environment proposed a cash dividend of approximately 2.35 yuan per 10 shares for 2025, based on a 35% payout ratio of net profit [10] - Lankai Technology achieved a revenue of 5.456 billion yuan in 2025, a 49.94% increase, with a net profit of 2.236 billion yuan, up 58.35% [11] - Muxi Co., Ltd. reported a revenue of 1.644 billion yuan in 2025, a 121.26% increase, but incurred a net loss of 778 million yuan [12] - Hubei Yihua reported a revenue of 25.659 billion yuan in 2025, a 1.04% increase, with a net profit of 889 million yuan, down 16.74% [13] - Microchip Bio proposed a share buyback plan of 80 million to 120 million yuan for employee stock ownership [14] - Moore Thread reported a revenue of 1.506 billion yuan in 2025, a 243.37% increase, with a net loss of 1.024 billion yuan [15] - Huace Navigation achieved a revenue of 3.681 billion yuan in 2025, a 13.24% increase, with a net profit of 681 million yuan, up 16.7% [16] - Jiangfeng Electronics reported a revenue of 4.605 billion yuan in 2025, a 27.75% increase, with a net profit of 481 million yuan, up 20.15% [17] - Wol Nuclear Materials achieved a revenue of 8.451 billion yuan in 2025, a 22% increase, with a net profit of 1.135 billion yuan, up 33.95% [18] - Shenghong Co., Ltd. reported a revenue of 3.463 billion yuan in 2025, a 14.07% increase, with a net profit of 474 million yuan, up 10.58% [19] - Sun Paper achieved a revenue of 39.184 billion yuan in 2025, a 3.79% decrease, with a net profit of 3.258 billion yuan, up 5.05% [20] Group 2 - Wuhan Tianyuan's actual controller plans to reduce holdings by up to 1.93% of the company's shares [21][22] - Zhenghai Bio's shareholder plans to reduce holdings by up to 2% of the company's shares [23] - Baiwei Storage reported a revenue of 11.296 billion yuan in 2025, a 68.72% increase, with a net profit of 867 million yuan, up 437.56% [24] - Jierong Technology received a notice of investigation from the China Securities Regulatory Commission for suspected information disclosure violations [25] - Tengda Construction won a bid for a city parking lot construction project worth 172 million yuan [26] - Jiazhen New Energy's shareholder plans to reduce holdings by up to 3% of the company's shares [27] - Jiabiou reported a revenue of 575 million yuan in 2025, a 3.47% increase, with a net profit of 157 million yuan, up 26.15% [28] - Jingsheng Co., Ltd.'s shareholder plans to reduce holdings by up to 3% of the company's shares [29] - Chengdi Xiangjiang's subsidiary signed a significant contract with Shanghai Unicom, with an estimated contract value of 642 million yuan [30] - Guoci Materials plans to acquire 100% of Australian-listed company SDI for 166 million AUD (approximately 816 million yuan) [31] - Zhongfutong plans to raise no more than 643 million yuan through a private placement for various projects [32] - Yuanjie Technology reported a revenue of 601 million yuan in 2025, a 138.5% increase, with a net profit of 191 million yuan, compared to a loss of 6.134 million yuan in the previous year [33] - *ST Dazheng's shareholder plans to reduce holdings by up to 1% of the company's shares [34] - Huasheng Tiancheng clarified its cooperation model with Huawei, indicating that it has a minor impact on overall revenue [35] - Fenghuo Communication reported that its low-orbit satellite communication business contributes less than 1% to total revenue [36] - Huasheng Chang plans to acquire 100% of Jialante's shares for 460 million yuan [37] - Hekang New Energy plans to raise no more than 1.652 billion yuan from Midea Group for various projects [38] - Shuangliang Energy is under investigation by the CSRC for misleading information disclosure [39] - Jingfang Technology reported a revenue of 1.474 billion yuan in 2025, a 30.44% increase, with a net profit of 370 million yuan, up 46.23% [40][41] - Zhongji Xuchuang reported a revenue of 38.24 billion yuan in 2025, a 60.25% increase, with a net profit of 10.799 billion yuan, up 108.81% [42] - Shunluo Electronics reported a revenue of 6.745 billion yuan in 2025, a 14.39% increase, with a net profit of 1.021 billion yuan, up 22.71% [43] - Visual China plans to issue H-shares and apply for listing on the Hong Kong Stock Exchange [44] - Haitai Development is under investigation by the CSRC for information disclosure violations [45] - Biyin Lefen's controlling shareholder plans to increase holdings by 100 million to 200 million yuan [46] - Tapa Group reported a revenue of 4.107 billion yuan in 2025, a 3.99% decrease, with a net profit of 634 million yuan, up 17.87% [47] - Lite Optoelectronics plans to invest in a quartz fabric R&D center and production base with a total investment of 1 billion yuan [48] - Demingli reported a revenue of 10.789 billion yuan in 2025, a 126.07% increase, with a net profit of 688 million yuan, up 96.35% [49] - Shengke Communication's state-owned investment fund reduced its shareholding to 13% [50] - Tongxing Technology plans to invest in a sodium-ion battery anode material project with a total investment of approximately 500 million yuan [51] - *ST Rindong applied to revoke the delisting risk warning for its stock, reporting a net profit of 360 million yuan in 2025, compared to a loss of 833 million yuan in the previous year [53] - Guoli Electronics reported a revenue of 1.323 billion yuan in 2025, a 66.98% increase, with a net profit of 70.6089 million yuan, up 133.51% [54] - Jingzhida plans to raise no more than 2.959 billion yuan through a private placement for various projects [55] - Hongdian Film reported a revenue of 2.298 billion yuan in 2025, a 16.55% increase, with a net profit of 159 million yuan, compared to a loss of 96.376 million yuan in the previous year [56] - Jingzhida's shareholders plan to reduce holdings by up to 1.55% of the company's shares [57] - Xin Anjie announced that its chairman is under investigation and has been detained [58]

Core Viewpoint - The company has renewed a significant contract with China Unicom's Shanghai branch for its subsidiary, Shanghai Qisi Cloud Computing Co., Ltd, adjusting service prices downward and shortening the service term due to market changes [2][13]. Group 1: Contract Details - The renewed contract is for the Shanghai Unicom Zhoupu IDC Phase II project, with a term from December 1, 2026, to November 30, 2031, and includes a provision for automatic extension if no objections are raised [4]. - The estimated contract value is 642 million yuan, based on a monthly power unit price multiplied by the total power of 3,280 cabinets over the service period [6][14]. - The service fee is to be paid monthly, with specific invoicing and payment timelines outlined [7]. Group 2: Pricing and Revenue Impact - The renewal agreement includes a price reduction compared to the previous contract, which will likely decrease the company's future revenue contributions from this project [14]. - The final settlement amount will depend on actual audit results and may vary based on the cooperation situation with end customers [2][16]. Group 3: Risk Factors - The contract includes a "one case one discussion" clause for pricing adjustments based on specific customer agreements, which may lead to further changes in revenue [3][16]. - There are uncertainties regarding the impact on the company's future performance due to the long-term nature of the contract and the potential for unforeseen circumstances affecting contract fulfillment [3][16]. - The enforceability of breach clauses may be weaker against the counterparty, posing a risk of significant losses for the company in case of default [3][16].

Group 1: Company Performance - Cambrian achieved a net profit of 2.059 billion yuan in 2025, turning a profit due to a significant increase in revenue, which reached 6.497 billion yuan, a 453.21% increase year-on-year [1] - Muxi reported a total revenue of 1.644 billion yuan in 2025, a 121.26% increase, with net losses narrowing by 44.53% to 781.45 million yuan [2] - Moer Thread's revenue grew by 243.37% to 1.506 billion yuan in 2025, with net losses reduced by 36.70% to 1.024 billion yuan [3] - Lingdian Electric Control's net profit increased by 745.02% to 135 million yuan, despite a slight revenue decrease of 0.17% to 1.194 billion yuan [4] - JinkoSolar reported a net loss of 6.786 billion yuan in 2025, a decrease of 6,959.50%, with total revenue falling by 29.18% to 65.492 billion yuan [16] Group 2: Corporate Actions - Huicheng is planning to issue H-shares and list on the Hong Kong Stock Exchange, with details still under discussion [5] - Zhongying Technology is planning to acquire at least 51% of Yingzhong Electric, which is expected to constitute a major asset restructuring [7] - Jierong Technology's actual controller is under investigation for suspected violations of information disclosure laws [6] Group 3: Market and Industry Trends - The AI industry is driving demand for computing power, benefiting companies like Cambrian and Moer Thread, which are expanding their market presence [1][3] - Muxi's GPU product shipments have significantly increased, reflecting strong market recognition and demand [2] - The global photovoltaic industry is facing price fluctuations and trade protection policies, impacting JinkoSolar's profitability [16]