证券代码：688190 证券简称：云路股份 公告编号：2025-037 青岛云路先进材料技术股份有限公司 第三届监事会第四次会议决议公告 本公司及监事会全体成员保证公告内容不存在虚假记载、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。 三、审议通过《关于公司 2025 年半年度利润分配预案的议案》 一、审议通过《关于公司 2025 年半年度报告及摘要的议案》 监事会认为：公司 2025 年半年度报告的编制和审议程序符合法律、法规及 《公司章程》等内部规章制度的规定，公允地反映了公司 2025 年上半年的财务 状况和经营成果等事项，监事会全体成员保证公司 2025 年半年度报告披露的信 息真实、准确、完整，不存在任何虚假记载、误导性陈述或重大遗漏。 表决结果：3 票同意，0 票反对，0 票弃权。 具体内容详见同日刊载于上海证券交易所网站（www.sse.com.cn）的《青岛 云路先进材料技术股份有限公司 2025 年半年度报告》及《青岛云路先进材料技 术股份有限公司 2025 年半年度报告摘要》。 二、审议通过《关于公司 2025 年半年度募集资金存放与使用情况专项报告 的议 ...

证券代码：688190 证券简称：云路股份 公告编号：2025-036 青岛云路先进材料技术股份有限公司 第三届董事会第五次会议决议公告 本公司及除李晓雨先生外的其他董事会全体成员保证公告内容不存在虚假 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。 青岛云路先进材料技术股份有限公司（以下简称"公司"）第三届董事会第 五次会议于 2025 年 8 月 29 日上午 10 点在公司会议室以现场方式结合通讯方式 召开。本次会议应到董事 11 名，实到董事 10 名（李晓雨先生因被采取留置措施 缺席本次会议）。会议由副董事长雷日赣主持。本次会议的召集和召开符合《中 华人民共和国公司法》（以下简称"《公司法》"）及《青岛云路先进材料技术 股份有限公司章程》（以下简称"《公司章程》"）的有关规定。 一、审议通过《关于 2025 年半年度报告及摘要的议案》 公司 2025 年半年度报告的编制和审议程序符合法律、法规及《公司章程》 等内部规章制度的规定，公允地反映了公司 2025 年半年度的财务状况和经营成 果等事项，本公司及除李晓雨先生外的其他董事会全体成员保证公司 2025 年半 ...

证券代码：688190 证券简称：云路股份 公告编号：2025-033 青岛云路先进材料技术股份有限公司 关于 2025 年半年度利润分配预案的公告 本公司及除李晓雨先生外的其他董事会全体成员保证公告内容不存在虚假 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： 一、利润分配方案内容 截至2025年6月30日，公司上半年净利润为人民币169,494,115.50元。经董 事会决议，公司拟以实施权益分派股权登记日登记的总股本为基数进行中期利润 分配。本次利润分配方案如下： 公司拟向全体股东每10股派发现金红利3.00元（含税），截至2025年8月29 日，公司总股本12,000万股，以此计算合计拟派发现金红利3,600.00万元（含税）， 占公司2025年半年度净利润的21.24%。 如在本公告披露之日起至实施权益分派股权登记日期间，公司总股本发生变 动的，公司拟维持分配总额不变，相应调整每股分配比例。如后续总股本发生变 化，将另行公告具体调整情况。 本次利润分配尚需提交股东大会审议。 每股分配比例：每10股派发现金红利3.00元。 本次利润分配以实施权益 ...

国泰海通证券股份有限公司 关于青岛云路先进材料技术股份有限公司 变更募集资金专项账户的专项核查意见 国泰海通证券股份有限公司(以下简称"国泰海通"或"保荐人")作为青 岛云路先进材料技术股份有限公司（以下简称"云路股份"、"发行人"或"公 司")首次公开发行股票并在科创板上市的保荐人,根据《证券发行上市保荐业 务管理办法》、《上海证券交易所科创板股票上市规则》、《科创板上市公司持 续监管办法(试行)》、《上市公司募集资金监管规则》、《上海证券交易所科 创板上市公司自律监管指引第 1 号――规范运作》等法律法规的有关规定,对公 司变更募集资金专项账户事项进行了审慎核查,并出具本核查意见。核查情况如 下： 根据中国证券监督管理委员会于 2021 年 10 月 19 日出具的《关于同意青岛 云路先进材料技术股份有限公司首次公开发行股票注册的批复》(证监许可(2021) 3302 号），云路股份首次公开发行人民币普通股(A) 股 3,000.00 万股,每股发 行价格为 46.63元,募集资金总额为人民币 139,890.00 万元;扣除发行费用后实 际募集资金净额为人民币 129,158.46 万元。上述募集资金已 ...

青岛云路先进材料技术股份有限公司2025 年半年度报告 公司代码：688190 公司简称：云路股份 青岛云路先进材料技术股份有限公司 2025 年半年度报告 1/177 青岛云路先进材料技术股份有限公司2025 年半年度报告 重要提示 一、 本公司董事会、监事会及董事（董事长李晓雨先生因被留置调查，无法正常履职）、监事、 高级管理人员保证半年度报告内容的真实性、准确性、完整性，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。 二、 重大风险提示 公司已在本报告中描述公司面临的风险，敬请查阅本报告第三节管理层讨论与分析四风险因 素相关内容，请投资者予以关注。 三、 未出席董事情况 | 未出席董事职务 | 未出席董事姓名 | 未出席董事的原因说明 | 被委托人姓名 | | --- | --- | --- | --- | | 董事长 | 李晓雨 | 因被留置无法出席 | 无 | 四、 本半年度报告未经审计。 五、 公司负责人庞靖、主管会计工作负责人石岩及会计机构负责人（会计主管人员）张乐声明： 保证半年度报告中财务报告的真实、准确、完整。 六、 董事会决议通过的本报告期利润分配预案或公积金转增股 ...

Group 1 - The core viewpoint of the news is that Yunlu Co., Ltd. has experienced fluctuations in its stock performance and financing activities, indicating a mixed market sentiment towards the company [1][2]. - As of August 27, Yunlu's stock price decreased by 0.36%, with a trading volume of 138 million yuan. The net financing buy was negative at 536.78 thousand yuan, indicating more selling than buying in the financing market [1]. - The total financing and securities balance for Yunlu reached 99.69 million yuan, with the financing balance accounting for 0.78% of the circulating market value, which is above the 60th percentile of the past year [1]. Group 2 - For the first quarter of 2025, Yunlu reported an operating income of 421 million yuan, a year-on-year decrease of 4.87%, while the net profit attributable to shareholders increased by 4.34% to 78.91 million yuan [2]. - The number of shareholders increased to 5,591, a rise of 28.71%, while the average circulating shares per person decreased by 22.30% to 21,463 shares [2]. - Since its A-share listing, Yunlu has distributed a total of 322 million yuan in dividends, with 282 million yuan distributed in the last three years [3].

Group 1 - The core viewpoint of the news is that Yunlu Co., Ltd. has shown significant trading activity and financial performance, with a notable increase in financing and shareholder numbers [1][2][3] - On August 25, Yunlu Co., Ltd. experienced a stock price increase of 1.38%, with a trading volume of 126 million yuan and a net financing purchase of 10.32 million yuan [1] - As of August 25, the total balance of margin trading for Yunlu Co., Ltd. reached 108 million yuan, indicating a high level of financing activity compared to the past year [1] Group 2 - For the first quarter of 2025, Yunlu Co., Ltd. reported a revenue of 421 million yuan, a year-on-year decrease of 4.87%, while the net profit attributable to shareholders increased by 4.34% to 78.91 million yuan [2] - The company has distributed a total of 322 million yuan in dividends since its A-share listing, with 282 million yuan distributed in the last three years [3] - As of March 31, 2025, the number of shareholders increased by 28.71% to 5,591, while the average circulating shares per person decreased by 22.30% to 21,463 shares [2][3]

Core Insights - The latest net value of the fund "交银国企改革灵活配置混合A" is 1.9213 yuan, with a growth of 0.84% [1] - The fund has shown a return of 2.05% over the past month, 12.46% over the past six months, and 12.73% year-to-date, with respective rankings of 1800/2327, 982/2295, and 1308/2284 [1] Fund Holdings - The top ten stock holdings of the fund account for a total of 44.29%, with the largest positions being: - 顺丰控股 (9.31%) - 航发动力 (8.63%) - XD中国化 (5.50%) - 航发科技 (3.22%) - 华电国际 (3.11%) - 云路股份 (3.11%) - 伊利股份 (3.07%) - 龙源电力 (2.85%) - XD东方电 (2.77%) - 华锦股份 (2.72%) [1] Fund Background - The fund "交银国企改革灵活配置混合A" was established on June 10, 2015, and as of June 30, 2025, it has a total scale of 2.133 billion yuan [1] - The fund manager is 沈楠, who has been in this role since the fund's inception [2]

Investment Rating - The report suggests a positive investment outlook for the SST (Solid State Transformer) solution, highlighting its comprehensive advantages in the data center sector [4][70]. Core Insights - The global AI market is projected to grow from 1,187.9 billion RMB in 2023 to 11,455.4 billion RMB by 2030, with a CAGR exceeding 35% [5][14]. - The SST solution is particularly suitable for microgrid DC power scenarios, enabling direct conversion from grid power to 800V DC supply, addressing various challenges in data center power supply [5][47]. - The report emphasizes the importance of high-frequency transformers and power electronic devices in the SST solution, recommending key companies in these sectors for investment [5][70]. Summary by Sections 1. Industry Status and Challenges - The demand for full DC systems is increasing due to the rising proportion of DC devices in data centers, necessitating a compatible full DC power supply architecture [21]. - Traditional 54V power supply systems are reaching their limits, prompting the need for higher voltage levels, such as the 800V HVDC architecture proposed by leading companies [28]. - The area occupied by power distribution systems is increasing as power density in data centers rises, with projections indicating that power distribution systems may occupy equal space to IT equipment in high-density setups [30] [31]. 2. Advantages of SST Solution - The SST solution offers modularity and high efficiency, with the ability to directly convert high voltage AC to low voltage DC, significantly reducing space requirements and improving energy efficiency [44][63]. - SST technology utilizes advanced semiconductor devices and high-frequency transformers, allowing for active control of power quality and rapid fault detection [55][57]. - The SST solution has already been implemented in benchmark data center projects, demonstrating its potential for widespread adoption in the industry [65]. 3. Investment Recommendations - The report recommends focusing on companies involved in high-frequency transformers, power electronic devices, and advanced magnetic materials, as they are expected to benefit from the growth of the SST market [70].

Group 1 - The core viewpoint of the news is the performance and holdings of the Jiao Yin State-Owned Enterprise Reform Flexible Allocation Mixed A Fund, which has shown a recent net value increase of 1.04% [1] - The fund's recent one-month return is -0.06%, ranking 71 out of 73 in its category, while its six-month return is 8.76%, ranking 19 out of 72 [1] - Year-to-date, the fund has achieved a return of 6.18%, ranking 26 out of 72 in its category [1] Group 2 - The top ten stock holdings of the fund account for a total of 50.78%, with significant positions in SF Express (9.90%), China Chemical (6.04%), and ShouLve Hotel (5.44%) [1] - The fund was established on June 10, 2015, and as of March 31, 2025, it has a total scale of 1.802 billion yuan [1] - The fund manager is Shen Nan, who has been in this role since the fund's inception [2]