证券简称：城地香江 证券代码：603887 公告编号：2026-015 上海城地香江数据科技股份有限公司 关于子公司续签重大合同的公告 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： 本次系前期项目到期续签：因原合作协议到期及市场环境变化，公司全资子公司 上海启斯云计算有限公司（以下简称"子公司"）与中国联合网络通信有限公司 上海市分公司（以下简称"上海联通"）就继续合作事宜续签协议。本次续签协 议，较原合作协议下调了服务价格，并按照当前行业惯例缩短了服务期限。对于 原合同到期日至新协议生效日期间的过渡期费用，仍按原合同标准执行。此外， 双方就上海联通自用机柜部分另行签订补充协议，约定自原协议到期后，该部分 机柜按下调后价格进行结算，服务期间与主协议保持一致。 本项目为与上海联通合作的零售机房：本次续签协议的是与上海联通合作的零售 机房项目，该项目除了上海联通自用部分外，还通过与上海联通合作服务于多个 终端客户。基于该零售机房的特殊性，部分终端客户商务条件可能因合作模式的 变化而变化，进而导致本项目最终结算金额 ...

Group 1 - Lito Electronics and Chengdi Xiangjiang reached the daily limit increase [1] - Yuntian Lifey surged over 15% [1] - Shunwang Technology and Capital Online both increased by over 10% [1] - Yunsai Zhili and Wangsu Technology, along with Hongjing Technology, also experienced gains [1]

Market Overview - The A-share market experienced a collective pullback on February 27, with the Shanghai Composite Index closing at 4139.53 points, down 0.17% [2][3] - The semiconductor, communication equipment, electronic components, soft drinks, and building materials sectors saw the largest declines, while the non-ferrous metals sector showed strong gains, particularly tungsten concept stocks [2][3] Sector Performance - The non-ferrous metals sector surged, with rare metals leading the charge and tungsten concept stocks experiencing significant increases [5][6] - The Hang Seng Technology Index rose over 1%, driven by strong performances in the cloud computing sector and tech stocks like SenseTime and Bilibili [4][5] Notable Stocks - Several stocks in the non-ferrous metals sector hit the daily limit, including Dongfang Zirconium, Xianglu Tungsten, and Zhong Rare Metals, all recording gains of 10% [6][7] - Capital Online saw a rise of over 15%, while other companies in the computing power leasing sector also performed well, with Qingyun Technology-U and Xinjun Network both increasing by over 10% [10][11] Price Movements - The domestic light rare earth market saw price increases, with praseodymium and neodymium metal prices rising to 1.08 million CNY/ton and 1.125 million CNY/ton, respectively [9] - The computing power leasing sector continued to rise, reflecting strong demand and growth potential in the AI model API market, where Chinese models surpassed U.S. models in usage [10][11] Industry Insights - Analysts suggest that the increase in domestic AI model usage and monetization expectations may accelerate growth in the data calling volume and model performance, benefiting the domestic computing power industry chain [11] - The software development sector is also experiencing upward momentum, with new AI programming solutions being launched by major cloud service providers [11]

Market Overview - The market experienced fluctuations in early trading, with the Shanghai Composite Index turning negative again and the ChiNext Index dropping over 1% [1] - By the end of the trading session, the Shanghai Composite Index fell by 0.17%, the Shenzhen Component Index decreased by 0.68%, and the ChiNext Index declined by 1.46% [1] - The total trading volume in the Shanghai and Shenzhen markets was 1.59 trillion yuan, a decrease of 53 billion yuan compared to the previous trading day [1] Sector Performance - The computing power leasing concept saw a collective surge, with stocks like Huasheng Tiancheng achieving three consecutive daily limits in five days, and stocks such as Tuo Wei Information, Litong Electronics, and Chengdi Xiangjiang hitting daily limits [1] - The non-ferrous metals sector was notably active, with Zhangyuan Tungsten achieving five daily limits in seven days, and stocks like Xianglu Tungsten and Zhong Rare Metals also hitting daily limits [1] - The AI programming concept strengthened, with Jin Modern and Puyuan Information both reaching the 20% daily limit [1] - The space photovoltaic concept rebounded, with Jun Da Co., Ltd. hitting the daily limit [1] - Conversely, the electronic cloth concept continued to adjust, with Honghe Technology hitting the daily limit down [1]

Core Viewpoint - The A-share market's computing power concept stocks have continued to rise collectively for the second consecutive day, indicating strong investor interest and market momentum in this sector [1]. Group 1: Stock Performance - Yuntian Lifei (云天励飞) reached a 20% limit up, with a total market value of 39.6 billion and a year-to-date increase of 110.26% [2]. - Capital Online (首都在线) increased by over 16%, with a market capitalization of 18.9 billion and a year-to-date rise of 37.59% [2]. - Shunwang Technology (顺网科技) saw a 12% increase, with a market value of 20.3 billion and a year-to-date growth of 29.69% [2]. - Other notable performers include Qingyun Technology (青云科技) and Hongjing Technology (宏景科技), both rising over 10% with year-to-date increases of 87.17% and 105.76% respectively [2]. - The overall trend shows significant gains across various companies in the computing power sector, with many stocks experiencing double-digit percentage increases [1][2]. Group 2: Market Trends - The computing power concept stocks are showing a strong upward trend, with MACD golden cross signals indicating positive momentum in the market [1]. - The collective rise of these stocks suggests a growing confidence among investors in the potential of the computing power industry [1].

Core Viewpoint - The A-share market's computing power concept stocks have continued to rise collectively for the second consecutive day, indicating strong investor interest and market momentum in this sector [1]. Group 1: Stock Performance - Yuntian Lifei (688343) reached a 20% increase, with a total market value of 39.6 billion and a year-to-date increase of 110.26% [2]. - Capital Online (300846) saw a rise of 16.78%, with a market capitalization of 18.9 billion and a year-to-date increase of 37.59% [2]. - Shunwang Technology (300113) increased by 12%, with a market value of 20.3 billion and a year-to-date increase of 29.69% [2]. - Qcloud Technology (688316) rose by 10.97%, with a market capitalization of 41.75 billion and a year-to-date increase of 87.17% [2]. - Hongjing Technology (301396) increased by 10.76%, with a market value of 16.2 billion and a year-to-date increase of 105.76% [2]. - Other notable performers include Fenghuo Communication (10.01% increase), Chengdi Xiangjiang (10.01% increase), and Litong Electronics (10% increase) [1][2]. Group 2: Market Trends - The computing power sector is experiencing significant upward momentum, as evidenced by multiple stocks hitting their daily price limits [1]. - The overall market sentiment appears positive, with several companies showing substantial year-to-date gains, indicating strong investor confidence in the sector's growth potential [2].

Core Viewpoint - The company has entered into a long-term contract with X Company for data center services, which includes specific performance commitments and potential financial implications for future revenue [1][10]. Group 1: Project Overview - The project is named "Hutai Smart Cloud Valley Digital Technology Industrial Park - Data Center Project" with a contract duration of 6 years starting from November 1, 2026, and can be extended for up to 2 additional years [2][3]. - The first phase involves the delivery of approximately 1,100 high-power cabinets by October 30, 2026, with a total billing power not exceeding 10,000 KW [4][5]. Group 2: Financial Implications - The estimated revenue for the first phase is expected to be no more than 903 million yuan, with revenue recognized based on actual deployment over the contract period [5]. - The second phase is projected to generate up to 1.806 billion yuan, subject to further agreements between the parties [6]. Group 3: Performance Commitments and Risks - The subsidiary has committed to reserving 50 MW of data center resources for X Company by June 30, 2027, with penalties for non-compliance including a potential fine of 80 million yuan [2][9]. - The contract includes provisions for penalties and responsibilities in case of non-performance, particularly emphasizing the need for the subsidiary to maintain stable operations of the data center [8][14]. Group 4: Counterparty Information - X Company is a limited liability company with a good credit standing and performance capability, and there are no related party transactions between the company and X Company [11].

证券简称：城地香江 证券代码：603887 公告编号：2026-014 上海城地香江数据科技股份有限公司 关于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"）前期已披露下属子 公司与 X 公司拟进一步签订 IDC 托管业务协议的公告（公告编号：2026-013）， 目前，双方已完成了该协议的签署，具体情况如下： 一、项目基本情况及主要条款 续约期结束后，甲方客户仍继续使用，乙方应在同等条件下优先与甲方续约， 甲乙双方另签新合同或者补充合同延长本合同的合同期。 5、服务内容：在合作期内，乙方向甲方提供数据中心运营服务，具体如下： 第一期：交付约 1,100 个高功率机柜，2026 年 10 月 30 日交付；（同时锁定 二期 2,200 个高功率机柜等功率折算的主系统架构） 弹性锁定：甲方弹性锁定 2,200 个高功率机柜至 2027 年 6 月 30 日前下单， 交付周期自甲方下单后 T+6 个月，弹性资源转入正式下单后双方另行签 ...

Core Viewpoint - The announcement indicates that Chengdi Xiangjiang's subsidiary has signed a contract for a data center project, which is expected to generate significant revenue over the next several years [1] Group 1: Contract Details - Chengdi Xiangjiang (Shanghai) Cloud Computing Co., Ltd. has signed an agreement with Company X for the Hutaizhi Smart Cloud Valley Digital Technology Industrial Park data center project [1] - The contract will take effect on November 1, 2026, with a cooperation period of 6 years and the possibility of two renewals [1] - Phase one of the project is expected to deliver 1,100 high-power cabinets with a maximum price of 903 million yuan, while phase two is expected to deliver 2,200 cabinets with a maximum price of 1.806 billion yuan [1] Group 2: Revenue and Performance - Revenue from the project will be allocated based on the cabinet installation status [1] - The total potential revenue from both phases could reach approximately 2.709 billion yuan [1] Group 3: Risks - The contract is subject to uncertainties regarding performance, potential impacts on results, weak enforceability of breach clauses, and risks related to business commitments [1]

Core Viewpoint - The company has entered into a long-term contract with a client for data center services, with potential risks related to contract fulfillment and revenue uncertainty due to the lengthy contract duration [1][2][11]. Group 1: Project Overview - The project is named "Hutai Smart Cloud Valley Digital Technology Industrial Park - Data Center Project" and involves a contract with a client referred to as Company X [2]. - The contract duration is set for 6 years, starting from November 1, 2026, and can be extended for up to 2 additional years [2][3]. - The first phase includes the delivery of approximately 1,100 high-power cabinets by October 30, 2026, with a second phase involving an additional 2,200 cabinets [4][5]. Group 2: Financial Aspects - The estimated contract value for the first phase is up to 903 million yuan, while the second phase is expected to reach up to 1.806 billion yuan, with revenue recognized based on actual deployment over the contract period [6][11]. - Payment terms stipulate that Company X will pay on a monthly basis, contingent upon the receipt of valid invoices from the company [6]. Group 3: Risks and Commitments - There is a risk of contract non-fulfillment due to unforeseen circumstances, which could impact the company's ability to meet its obligations [1][11]. - The company has made additional commitments to reserve 50 MW of data center resources for Company X by June 30, 2027, with penalties for non-compliance amounting to 80 million yuan [10][12]. - As of now, a formal contract has not been signed, and the finalization of the agreement remains uncertain [12]. Group 4: Counterparty Information - Company X is a limited liability company with a good credit standing and operational capacity, and there are no related party transactions between the company and Company X [8][9].