证券代码：605060 证券简称：联德股份 公告编号：2025-038 杭州联德精密机械股份有限公司 第三届董事会第十四次会议决议公告 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法律责任。 一、董事会会议召开情况 杭州联德精密机械股份有限公司（以下简称"公司"）第三届董事会第十四 次会议于 2025 年 10 月 27 日（星期一）在公司二楼会议室以现场的方式召开。 会议通知已于 2025 年 10 月 22 日通过书面的方式送达各位董事。本次会议应出 席董事 8 人，实际出席董事 8 人。 会议由董事长孙袁主持，高级管理人员列席了本次会议。会议召开符合有 关法律、法规、规章和《公司章程》的规定。经各位董事认真审议，会议形成了 如下决议： 二、董事会会议审议情况 （一）审议通过《关于 2025 年第三季度报告的议案》 表决结果：8 票同意，0 票反对，0 票弃权。 本议案已经董事会审计委员会审议通过，并提交董事会审议。 具体内容详见公司同日披露于上海证券交易所网站（www.sse.com.cn）的《联 德股份 2025 年第三季度报 ...

证券代码：605060 证券简称：联德股份 杭州联德精密机械股份有限公司 2025 年第三季度报告 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： 公司董事会及董事、高级管理人员保证季度报告内容的真实、准确、完整，不存在虚假记载、误 导性陈述或重大遗漏，并承担个别和连带的法律责任。 公司负责人、主管会计工作负责人及会计机构负责人（会计主管人员）保证季度报告中财务信息 的真实、准确、完整。 第三季度财务报表是否经审计 □是 √否 一、主要财务数据 杭州联德精密机械股份有限公司 2025 年第三季度报告 （一） 主要会计数据和财务指标 单位：元 币种：人民币 | | | 本报告期比 | | 年初至报告期 | | --- | --- | --- | --- | --- | | | 本报告期 | 上年同期增 | 年初至报告期末 | 末比上年同期 | | | | 减变动幅度 | | 增减变动幅度 | | | | (%) | | (%) | | 营业收入 | 343,751,761.22 | 25.62 | 930,288 ...

联德股份公告，第三季度营收为3.44亿元，同比增长25.62%；净利润为6869.01万元，同比增长 41.47%。前三季度营收为9.3亿元，同比增长9.27%；净利润为1.78亿元，同比增长21.56%。 ...

Summary of Conference Call Notes Industry Overview - **Industry Focus**: Gas Turbine Industry - **Electricity Demand Surge**: The electricity consumption of data centers in the U.S. is expected to reach 325 to 580 TWh by 2028, with a compound annual growth rate (CAGR) of 27%. Globally, data center electricity demand is projected to exceed 1,000 TWh by 2030, putting significant pressure on the power grid [1][3] Key Insights and Arguments - **Gas Turbines as Optimal Solution**: Gas turbines are favored due to their short construction cycle, quick startup, and stable operation, aligning well with the 2-4 year construction cycle of data centers. The approval process for gas turbine projects is approximately 10 months, significantly shorter than wind and solar projects [1][5] - **Global Gas Turbine Market Growth**: In 2023, global gas turbine market sales are estimated at 40-44 GW. Mitsubishi Heavy Industries anticipates an average sales volume of 60 GW from 2024 to 2026. In Q2 of this year, global orders increased by 38% year-over-year to 21 GW, with North America leading due to data center demand [1][6][7] - **Major Manufacturers' Expansion Plans**: Key players like GE, Siemens, and Mitsubishi Heavy Industries are experiencing significant order growth and have announced expansion plans, indicating confidence in sustained industry growth. Mitsubishi plans to double its production capacity in the next two years, while Siemens and GE aim to increase production capacity by 50% [1][7] Market Opportunities - **Domestic Replacement Opportunities**: The trend of deindustrialization in Europe and the U.S. presents opportunities for domestic companies to enter the global gas turbine supply chain, particularly in high-end casting and forging components [1][8] - **Core Component Market**: High-value components such as hot-end turbine blades and rotor shafts are currently dominated by overseas companies. However, domestic firms like Diwei and Yingliu are expected to gain market share due to their technological advantages [2][8][9] Company-Specific Developments - **Diwei's Competitive Edge**: Diwei is focusing on the production of high-end forged components for gas turbines and has established supply relationships with major clients like Baker Hughes and Caterpillar. The market value of gas turbines is approximately 2 to 3 billion RMB per GW, with a projected demand of 150 billion RMB over the next three years [9][10] - **Yingliu's Market Position**: Yingliu is a leading player in the high-temperature blade market, with a 100% increase in order volume expected in 2024. The company has secured over 1.2 billion RMB in orders and is expanding its production capacity [4][11][12] - **Liande's Progress**: Liande has developed a full industrial chain technology for high-precision casting and machining, beginning to supply gas turbine components in bulk. The company has a strong partnership with Caterpillar, enhancing its market position [13] Additional Insights - **Strategic Importance of Rare Metals**: The production of rare strategic metals like lithium is becoming increasingly important, with rising prices due to demand. Companies like Sains are investing in production lines to capitalize on this trend [14][15]

天眼查App显示，近日，杭州德渊贸易有限公司成立，法定代表人为吴洪宝，注册资本300万，经营范 围包括国内贸易代理、货物进出口、技术进出口、办公用品销售等，由联德股份（605060）全资持股。 ...

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： 根据中国证券监督管理委员会《上市公司股权激励管理办法》、上海证券交 易所及中国证券登记结算有限责任公司上海分公司有关规则的规定，杭州联德精 密机械股份有限公司（以下简称"公司"或"联德股份"）已于 2025 年 9 月 25 日在中国证券登记结算有限责任公司上海分公司完成了公司 2025 年限制性股票 激励计划（以下简称"本次激励计划"）限制性股票的首次登记工作。现将有关 情况公告如下： 一、限制性股票首次授予情况 证券代码：605060 证券简称：联德股份 公告编号：2025-037 杭州联德精密机械股份有限公司 2025 年限制性股票激励计划限制性股票 首次授予结果公告 （一）限制性股票的首次授予情况 根据公司 2025 年第一次临时股东会的授权，公司于 2025 年 8 月 6 日召开第 三届董事会第十二次会议，审议通过《关于向 2025 年限制性股票激励计划激励 对象首次授予限制性股票的议案》。公司本次激励计划规定的首次授予条件已经 成就，以 2025 年 ...

Core Viewpoint - Linde Co. (605060) has completed the initial registration of its 2025 restricted stock incentive plan, which aims to enhance employee motivation and potentially improve company performance [1] Group 1: Incentive Plan Details - The initial grant date for the incentive plan was August 6, with the grant price adjusted from 10.27 yuan/share to 9.92 yuan/share due to equity distribution [1] - A total of 1.6516 million shares were granted to 156 incentive recipients, representing approximately 0.69% of the company's total share capital [1] - The incentive plan has a maximum validity period of 48 months, with lock-up periods of 12, 24, and 36 months, and the release ratios are set at 30%, 30%, and 40% respectively [1] Group 2: Financial Implications - The funds raised from the stock subscription will be used to supplement working capital, with an expected total cost of 24.8731 million yuan [1] - Although the incentive plan will impact net profit in various years, the positive effects of the incentive may lead to performance improvements that exceed the increase in costs [1] - The granting of these shares will not alter the total share capital or the status of the controlling shareholder [1]

杭州联德精密机械股份有限公司 关于股份性质变更暨 2025 年股权激励计划 首次授予权益的进展公告 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。 杭州联德精密机械股份有限公司（以下简称"公司"）2025 年股权激励计 划（以下简称"本激励计划"）规定的限制性股票授予条件已成就，根据公司 2025 年第一次临时股东会的授权，公司于 2025 年 8 月 6 日召开第三届董事会第 十二次会议，审议通过了《关于向 2025 年限制性股票激励计划激励对象首次授 予限制性股票的议案》，确定本激励计划的首次授予日为 2025 年 8 月 6 日，以 9.92 元/股的授予价格向 156 名激励对象授予 165.16 万股限制性股票。具体内容 详见公司 2025 年 8 月 8 日于上海证券交易所网站（www.sse.com.cn）披露的《联 德股份关于向 2025 年限制性股票激励计划激励对象首次授予限制性股票的公告》 （公告编号：2025-031）。 目前，本激励计划首次授予部分的激励对象已完成缴款。根据天健会计师事 务所（特殊普通合 ...

Group 1 - The core viewpoint is that China's computing power industry is transitioning from a phase of scale expansion to a critical period of quality improvement, driven by government policies and significant investments in AI infrastructure [1] - The demand for liquid cooling technology is increasing as it addresses the challenges of high power density equipment cooling and reduces energy usage efficiency (PUE), highlighting its importance in the AI computing power landscape [1][2] - Major international players are significantly increasing their investments in AI computing power, with Trump planning to invest $17 trillion and Meta committing at least $600 billion by 2028, indicating a sustained trend of overseas investment in AI [1] Group 2 - The domestic computing power industry faces structural mismatches, with a projected demand of 300 EFLOPS by 2025, while supply remains uneven and difficult to manage, necessitating efficient cooling technologies [2] - Chilled water units play a crucial role in liquid cooling systems, impacting the cooling efficiency of data centers, as demonstrated by companies like Yingweike and Shenling Environment [2] - LianDe Co., Ltd. is positioned as a key player in the liquid cooling upstream market, producing chilled water units that cater to various cooling needs and have successfully served numerous data center projects [2] Group 3 - LianDe Co., Ltd. reported a revenue of 587 million yuan and a net profit of 109 million yuan in the first half of 2025, reflecting a steady growth despite challenges in the manufacturing sector, with over 50% of revenue coming from compressor components [3] - The company collaborates with leading temperature control firms globally, supplying precision compressor components for multiple AI data center liquid cooling projects, enhancing its market position [3] - LianDe is also establishing a factory in Mexico to better serve North American liquid cooling equipment manufacturers, aligning with the growing demand for computing power infrastructure [3] Group 4 - The liquid cooling industry is undergoing a critical upgrade from single-machine to cluster cooling systems, requiring higher precision and heat resistance in components [4] - The increasing domestic and international demand for liquid cooling will challenge upstream companies to enhance their market responsiveness [4] - LianDe Co., Ltd. aims to strengthen its collaboration with liquid cooling equipment manufacturers to improve product adaptability in high-density cooling scenarios, positioning itself to capitalize on the global infrastructure upgrade opportunities [4]

Group 1 - The company, LianDe Co., announced that it will hold a semi-annual performance briefing on September 16, 2025, from 15:00 to 16:00 on the "Value Online" platform [2]