10月15日，金盘科技涨5.26%，截至发稿，报60.88元/股，成交5.26亿元，换手率1.93%，总市值279.92 亿元。 南方中证500ETF（510500）成立日期2013年2月6日，最新规模1134.38亿。今年以来收益27.41%，同类 排名1733/4220；近一年收益30.04%，同类排名1557/3857；成立以来收益141.75%。 南方中证500ETF（510500）基金经理为罗文杰。 截至发稿，罗文杰累计任职时间12年180天，现任基金资产总规模1389.99亿元，任职期间最佳基金回报 152.82%， 任职期间最差基金回报-47.6%。 责任编辑：小浪快报 资料显示，海南金盘智能科技股份有限公司位于海南省海口市南海大道168-39号，成立日期1997年6月3 日，上市日期2021年3月9日，公司主营业务涉及主要从事应用于新能源、高端装备、节能环保等领域的 输配电及控制设备产品的研发、生产和销售。主营业务收入构成为：输配电设备87.05%，储能系列 9.59%，光伏电站业务1.90%，安装工程业务0.73%，其他(补充)0.54%，数字化整体解决方案0.19%。 从金盘科技十大流通股 ...

Group 1 - The Hainan Free Trade Zone concept index rose by 0.94%, ranking 6th among concept sectors, with 19 stocks increasing in value [1] - Leading gainers in the Hainan Free Trade Zone sector included Haima Automobile, New Dazhou A, and Shennong Agricultural, with increases of 5.92%, 4.26%, and 2.78% respectively [1] - The largest declines were seen in Hainan Huatie, Hainan Mining, and ST Huawen, which fell by 7.12%, 1.81%, and 1.32% respectively [1] Group 2 - The Hainan Free Trade Zone sector experienced a net inflow of 209 million yuan, with 17 stocks receiving net inflows, and 6 stocks exceeding 30 million yuan in net inflow [2] - Haima Automobile led the net inflow with 233 million yuan, followed by Jinpan Technology, New Dazhou A, and Shennong Agricultural with net inflows of 142 million yuan, 48.07 million yuan, and 47.77 million yuan respectively [2] Group 3 - In terms of net inflow ratio, Haima Automobile, New Dazhou A, and Luoniushan had the highest ratios at 18.98%, 9.79%, and 9.59% respectively [3] - The Hainan Free Trade Zone concept's top stocks by net inflow included Haima Automobile with a daily increase of 5.92% and a turnover rate of 12.45% [3]

近日，海南金盘智能科技股份有限公司（简称"金盘科技"）针对上海证券交易所于2025年8月29日出具 的《关于海南金盘智能科技股份有限公司向不特定对象发行可转换公司债券申请文件的审核问询函》进 行了回复。浙商证券作为保荐机构，与金盘科技及相关中介机构对问询函所列问题逐项落实。 金盘科技本次向不特定对象发行可转换公司债券的募投项目包括数据中心电源模块及高效节能电力装备 智能制造项目、高效节能液浸式变压器及非晶合金铁芯智能制造项目、研发办公楼建设项目和补充流动 资金。 募投项目具必要性与合理性 募投项目实施确定性高 金盘科技在技术及人员储备上，各募投项目相关技术成果丰富，拥有专业研发团队，且在数字化工厂建 设运营方面有成熟经验。产品开发进展顺利，数据中心电源模块产品已批量销售并布局迭代产品；VPI 变压器已研发多个型号并持续投入新产品研发；高效节能液浸式变压器及非晶合金铁芯相关产品部分已 完成关键研发和验证环节。 各项目产品具有较高技术壁垒，且主要原材料和生产设备供应稳定。因此，募投项目实施不存在重大不 确定性。 研发办公楼建设必要且符合要求 从市场规模来看，数据中心电源模块等成套系列产品方面，全球及中国数据中心、 ...

关于海南金盘智能科技股份有限公司 向不特定对象发行可转换公司债券 申请文件的审核问询函 之 回复报告 保荐机构（主承销商） （浙江省杭州市五星路 201 号） 二〇二五年十月 7-1-1 上海证券交易所： 贵所于 2025 年 8 月 29 日出具的《关于海南金盘智能科技股份有限公司向不 特定对象发行可转换公司债券申请文件的审核问询函》（以下简称"《问询函》"） 已收悉，浙商证券股份有限公司作为海南金盘智能科技股份有限公司（以下简称 "金盘科技"、"发行人"、"公司"）向不特定对象发行可转换公司债券的保 荐机构和主承销商，与发行人及申报会计师中汇会计师事务所（特殊普通合伙） （以下简称"申报会计师"）、发行人律师北京市金杜律师事务所（以下简称"发 行人律师"）对《问询函》所列问题认真进行了逐项落实，现对《问询函》问题 进行回复，请予审核。 如无特别说明，本《问询函》回复所使用的简称或名词释义与《海南金盘智 能科技股份有限公司向不特定对象发行可转换公司债券募集说明书》中的释义相 同。 7-1-2 | | 4 | | --- | --- | | 1 | | | 13 | | | | 2 | | 问题 | 1.关于 ...

关于海南金盘智能科技股份有限公司 向不特定对象发行可转换公司债券申请文件的 审核问询函有关财务问题回复的专项说明 中国杭州市钱江新城新业路 8 号 UDC 时代大厦 A 座 5-8 层、12 层、23 层 www.zhcpa.cn Floors5-8,12and23,Block A,UDC Times Building,No.8 Xinye Road，Qianjiang New City,Hangzhou Tel.0571-88879999 Fax.0571-88879000 关于海南金盘智能科技股份有限公司 向不特定对象发行可转换公司债券申请文件的 审核问询函有关财务问题回复的专项说明 中汇会专[2025]10871 号 上海证券交易所： 我们根据贵所于 2025 年 8 月 29 日下发的《关于海南金盘智能科技股份有限 公司向不特定对象发行可转换公司债券申请文件的审核问询函》(以下简称"审 核问询函")的要求，对审核问询函有关财务问题实施了审慎核查程序，现回复 如下： 问题 2.关于融资规模与效益测算 根据申报材料：（1）公司本次拟向不特定对象发行拟募集资金总额 167,150.00 万元，拟用于数据中心 ...

公司按照要求会同相关中介机构就《审核问询函》提出的问题进行了认真研究 和逐项落实，现根据相关要求对《审核问询函》回复进行公开披露，具体内容详见 公司于同日在上交所网站（www.sse.com.cn）披露的《关于海南金盘智能科技股份 有限公司向不特定对象发行可转换公司债券申请文件的审核问询函之回复报告》等 相关文件。 海南金盘智能科技股份有限公司 关于向不特定对象发行可转换公司债券申请文件 审核问询函回复的提示性公告 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、准确性和完整性依法承担法律责任。 海南金盘智能科技股份有限公司（简称"公司"）于 2025 年 8 月 29 日收到上 海证券交易所（简称"上交所"）出具的《关于海南金盘智能科技股份有限公司向 不特定对象发行可转换公司债券申请文件的审核问询函》（上证科审（再融资） 〔2025〕110 号）（简称"《审核问询函》"），上交所审核机构对公司向不特定 对象发行可转换公司债券申请文件进行了审核，并形成了首轮问询问题。 证券代码：688676 证券简称：金盘科技 公告编号：2025-075 公司本次向不特定 ...

Core Insights - The article discusses the advancements and market positioning of Solid State Transformers (SST) in the context of data centers and renewable energy, highlighting the growing demand and competitive landscape in both domestic and international markets [2][3]. SST Progress and Fundamentals - SST technology shows significant potential in data centers and renewable energy sectors, with NVIDIA's Rubin architecture expected to adopt SST technology, likely ahead of the anticipated supply timeline of late 2027 or early 2028 [2]. - North American SST orders have high profitability, with gross margins reaching 50-55%. The market currently faces a supply-demand imbalance, with order fulfillment cycles extending from 9-12 months, and some North American manufacturers experiencing delays of up to 18 months [2]. Domestic and International Manufacturer Layouts - Various global manufacturers are actively advancing SST technology. Eaton, a leader in the VIGC sector, has introduced an energy router power supply architecture and is accelerating its entry into emerging markets through acquisitions [3]. - Delta has launched an HBDC power solution based on third-generation silicon carbide devices, which supports flexible adjustments for data center load demands and integrates well with renewable energy and storage systems [3]. - In China, companies like Sifang, Xidian, and Jinpan Technology are expanding into SST technology, leveraging their existing strengths to explore commercial applications in data centers and renewable energy [3]. Jinpan Technology - Jinpan Technology reported robust performance in the first half of 2025, with significant growth in its electromechanical business and notable progress in the ultra-high voltage sector, benefiting from new project launches [4]. - The company achieved a 64% year-on-year increase in overseas revenue, successfully securing contracts for data center substations in Malaysia, and anticipates an annual compound growth rate of approximately 80% in data center revenue from 2022 to 2024 [4][5]. - Jinpan has developed a 2.4 MW solid-state transformer prototype suitable for HVDC800V power supply architecture, laying the groundwork for further expansion into overseas markets and AIDC sectors [5]. Other Manufacturers - Eagle and New Special Electric have accumulated technology in phase-shifting transformers and are actively developing SST technology to meet data center demands [6]. - Sungrow Power Supply has made significant strides in photovoltaic inverter technology, launching the world's first 35 kV medium-voltage direct-connected photovoltaic inverter, which is well-suited for large-scale solar power generation [7]. - Weiguang Energy, supported by Baiyun Electric Group and Xi'an Jiaotong University, focuses on SST energy routers and has delivered 92 units for various applications, including data centers and charging stations [8]. - Teradyne has demonstrated strong technical and supply chain advantages in the charging pile and SST sectors, leveraging its expertise in power electronics technology [9].

Core Insights - The article discusses the advancements in Solid State Transformers (SST) technology and its implications for the power and data center industries, highlighting the competitive landscape and key players involved in the development and application of SST technology [2][3]. SST Progress and Fundamentals - SST technology shows significant potential in data centers and renewable energy sectors, with NVIDIA's Rubin architecture likely to adopt SST earlier than the expected supply timeline of late 2027 or early 2028 [2]. - North American SST orders have high profitability, with gross margins reaching 50-55%. The demand for transformers in overseas data centers currently exceeds supply, leading to order fulfillment cycles of 9-12 months, and up to 18 months for major North American manufacturers [2]. Domestic and International Manufacturer Layouts - Various global manufacturers are actively advancing SST technology. Eaton, a leader in the VIGC field, has introduced energy router power supply architectures and is accelerating entry into emerging markets through acquisitions [3]. - Delta has launched HBDC power solutions based on third-generation silicon carbide devices, which are adaptable to data center load requirements and facilitate integration with renewable energy systems [3]. - In China, companies like Sifang, Xidian, and Jinpan Technology are expanding into SST technology, leveraging their technical strengths to explore commercial applications in data centers and renewable energy [3]. Jinpan Technology - Jinpan Technology has shown robust performance in the first half of 2025, with significant growth in its electromechanical business and a 64% year-on-year increase in overseas revenue [4]. - The company has successfully secured contracts for data center projects in Malaysia and anticipates an annual compound growth rate of approximately 80% in data center revenue from 2022 to 2024 [4]. - Jinpan has developed a 2.4 MW solid-state transformer prototype suitable for HVDC800V power supply architecture, laying the groundwork for further expansion into overseas markets and AIDC sectors [5]. Other Key Players - Eagle and New Special Electric have accumulated technology in phase-shifting transformers and are actively developing SST technology to meet data center demands [6]. - Sungrow Power Supply has made significant breakthroughs in photovoltaic inverters and is expanding into new applications, including data center HVDC power supply systems [7]. - Weiguang Energy, supported by Baiyun Electric Group and Xi'an Jiaotong University, focuses on SST energy routers and has delivered 92 units for various applications [8]. - Teradyne has demonstrated strong technical and supply chain advantages in charging stations and SST fields, leveraging its experience in power electronics [9]. Conclusion - The SST technology landscape is rapidly evolving, with numerous companies making strides in research and application, indicating a promising future for the integration of SST in data centers and renewable energy systems [2][3][4][5][6][7][8][9].

Market Performance - As of October 10, the China AI 50 concept index fell by 4.52%, ranking among the top declines in concept sectors, with notable declines from companies like Hengxuan Technology, Shengke Communication, and Deepin Technology [1] - The top gainers in the sector included Jinpan Technology, ZTE Corporation, and China Mobile, with increases of 6.99%, 4.04%, and 1.09% respectively [1] Capital Flow - The China AI 50 concept sector experienced a net outflow of 13.259 billion yuan, with 41 stocks seeing net outflows, and 28 stocks with outflows exceeding 1 billion yuan [2] - The largest net outflow was from SMIC, which saw 2.472 billion yuan leave, followed by Zhongke Shuguang, Zhongji Xuchuang, and Beifang Huachuang with outflows of 1.645 billion yuan, 1.210 billion yuan, and 1.019 billion yuan respectively [2] Stock Performance - The stocks with the highest net outflows included SMIC (-7.89%), Zhongke Shuguang (-7.96%), and Zhongji Xuchuang (-2.21%), with significant turnover rates [3] - Conversely, the stocks with the highest net inflows were ZTE Corporation, China Mobile, and Jinpan Technology, with net inflows of 301 million yuan, 246 million yuan, and 96.5 million yuan respectively [4]

沪深两市全天主力资金净流出1257.84亿元，其中，科创板主力资金净流出173.30亿元，主力资金净流入 的有193只股，主力资金净流出的有394只股。 资金流向方面，今日主力资金净流入的科创板股共有193只，其中，10只个股主力资金净流入超5000万 元，均普智能主力资金净流入1.55亿元，净流入资金居首；科思科技、金盘科技紧随其后，全天净流入 资金分别为1.43亿元、9650.58万元。主力资金净流出的有394只，净流出资金最多的是中芯国际，该股 今日下跌7.89%，全天主力资金净流出24.72亿元，其次是海光信息、澜起科技，主力资金净流出分别为 7.62亿元、6.50亿元。 证券时报•数据宝统计显示，今日科创板个股上涨的有93只，下跌的有490只。 从主力资金连续性进行观察，共有60只个股主力资金连续3个交易日以上持续净流入，连续流入天数最 多的是寒武纪，该股已连续32个交易日净流入；连续净流入天数较多的还有中自科技、浙海德曼等，主 力资金分别连续流入7天、7天。主力资金连续流出的个股有135只，连续流出天数最多的是菱电电控， 该股已连续16个交易日净流出；连续净流出天数较多的还有博睿数据、正元地信等， ...