Core Viewpoint - Recently, the first phase of the China Electronics Cloud R&D Base has been completed and put into operation, with a total investment of approximately 460 million yuan, funded by China Electronics Cloud Company’s self-raised capital [1] Group 1 - The first phase of the China Electronics Cloud R&D Base has been completed and is now operational [1] - The total investment for the first phase is about 460 million yuan [1] - The funding for this project comes from self-raised capital by China Electronics Cloud Company [1]

Group 1 - The core point of the article is the clarification regarding the investment in the Wuhan base project, specifically addressing the confusion about the 5 billion investment mentioned in relation to the company involved [1] - The company, 深桑达Ａ (Shen Sanda A), confirmed on the investor interaction platform that the first phase of the China Electronics Cloud R&D base project has been completed and is operational [1] - The total investment for the first phase of the project is approximately 460 million yuan, which is funded by the China Electronics Cloud Company through self-raised funds [1]

| 成交量（万 | 成交金额（万 | 成交价格 | 相对当日收盘折溢价 | 买方营 | 卖方营业部 | | --- | --- | --- | --- | --- | --- | | 股） | 元） | （元） | （%） | 业部 | | | 181.00 | 4018.20 | 22.20 | -1.99 | 机构专 | 中信证券股份有限公司四 | | | | | | 用 | 川分公司 | | 181.00 | 4018.20 | 22.20 | -1.99 | 机构专 | 中信证券股份有限公司四 | | | | | | 用 | 川分公司 | | 38.00 | 843.60 | 22.20 | -1.99 | 机构专 | 中信证券股份有限公司四 | | | | | | 用 | 川分公司 | 注：本文系新闻报道，不构成投资建议，股市有风险，投资需谨慎。 两融数据显示，该股最新融资余额为7.74亿元，近5日减少4836.98万元，降幅为5.88%。 据天眼查APP显示，深圳市桑达实业股份有限公司成立于1993年12月04日。注册资本113795.9234万人 民币。（数据宝） 9月25日深桑达A大宗交易一览 ...

Market Overview - On September 25, the professional engineering sector rose by 0.43% compared to the previous trading day, with Haibo Heavy Industry leading the gains [1] - The Shanghai Composite Index closed at 3853.3, down 0.01%, while the Shenzhen Component Index closed at 13445.9, up 0.67% [1] Top Performers - Haibo Heavy Industry (300517) closed at 13.20, up 10.83% with a trading volume of 219,300 shares and a transaction value of 282 million [1] - Tianwo Technology (002564) closed at 9.19, up 7.74% with a trading volume of 943,900 shares and a transaction value of 858 million [1] - China Zhongzhi (601618) closed at 3.43, up 3.63% with a trading volume of 2,164,400 shares and a transaction value of 744 million [1] Underperformers - Mu Jia Technology (835857) closed at 7.21, down 3.99% with a trading volume of 53,700 shares and a transaction value of 39.42 million [2] - ST Tianlong (300029) closed at 5.71, down 3.55% with a trading volume of 35,200 shares and a transaction value of 20.39 million [2] - Shenghui Integration (603163) closed at 43.55, down 3.35% with a trading volume of 30,800 shares and a transaction value of 135 million [2] Capital Flow - The professional engineering sector saw a net inflow of 83.26 million from institutional investors, while retail investors experienced a net outflow of 69.45 million [2] - Major stocks like China Zhongzhi and Tianwo Technology attracted significant net inflows of 96.10 million and 93.25 million respectively, while retail investors withdrew 91.21 million and 28.78 million from these stocks [3]

Company Overview - Shenzhen Sanda Industrial Co., Ltd. is located in Nanshan District, Shenzhen, Guangdong Province, and was established on December 4, 1993. The company was listed on October 28, 1993. Its main business includes logistics transportation, warehousing, electronic manufacturing (mainly railway GSM-R terminals, commercial and tax control cash registers, power supply, and LED lighting), trade services, and real estate [2]. Business Performance - The main business revenue composition is as follows: high-tech industry engineering services account for 92.43%, digital heating and new energy services 4.70%, digital and information services 2.26%, and other industrial services 0.61% [2]. - For the first half of 2025, the company achieved operating revenue of 23.434 billion yuan, a year-on-year decrease of 29.52%. The net profit attributable to the parent company was -974.891 million yuan, a year-on-year decrease of 157.29% [2]. Stock Performance - On September 25, the stock price of Sanda A rose by 2.01%, reaching 22.80 yuan per share, with a trading volume of 154 million yuan and a turnover rate of 0.63%. The total market capitalization is 25.945 billion yuan [1]. - Year-to-date, Sanda A's stock price has increased by 30.14%. However, it has decreased by 0.61% in the last five trading days, 18.37% in the last 20 days, and increased by 14.63% in the last 60 days [1]. - The stock has appeared on the daily trading leaderboard six times this year, with the most recent appearance on August 1, where it recorded a net purchase of 193 million yuan [1]. Shareholder Information - As of June 30, 2025, the number of shareholders of Sanda A is 66,800, a decrease of 11.78% from the previous period. The average circulating shares per person increased by 91.51% to 16,316 shares [2]. - The company has distributed a total of 9.11 billion yuan in dividends since its listing, with 3.53 billion yuan distributed in the last three years [3].

Company Overview - Shenzhen Sanda Industrial Co., Ltd. is located in Nanshan District, Shenzhen, Guangdong Province, and was established on December 4, 1993. The company was listed on October 28, 1993. Its main business includes logistics transportation, warehousing, electronic manufacturing (mainly railway GSM-R terminals, commercial and tax control cash registers, power supplies, and LED lighting), trade services, and real estate [2]. Business Performance - For the first half of 2025, Shenzhen Sanda achieved operating revenue of 23.434 billion yuan, a year-on-year decrease of 29.52%. The net profit attributable to the parent company was -97.4891 million yuan, a year-on-year decrease of 157.29% [2]. - The company's main business revenue composition is as follows: high-tech industry engineering services 92.43%, digital heating and new energy services 4.70%, digital and information services 2.26%, and other industrial services 0.61% [2]. Stock Performance - As of September 22, the stock price of Shenzhen Sanda A increased by 2.36%, reaching 23.02 yuan per share, with a trading volume of 1.27 billion yuan and a turnover rate of 0.52%. The total market capitalization is 26.196 billion yuan [1]. - Year-to-date, the stock price has risen by 31.39%, with a slight decline of 0.60% over the last five trading days and a decrease of 7.85% over the last 20 days. However, it has increased by 13.79% over the last 60 days [1]. - The stock has appeared on the "Dragon and Tiger List" six times this year, with the most recent appearance on August 1, where it recorded a net purchase of 193 million yuan [1]. Shareholder Information - As of June 30, 2025, the number of shareholders of Shenzhen Sanda A was 66,800, a decrease of 11.78% from the previous period. The average circulating shares per person increased by 91.51% to 16,316 shares [2]. - The company has distributed a total of 911 million yuan in dividends since its listing, with 353 million yuan distributed in the last three years [3]. Institutional Holdings - As of June 30, 2025, notable changes in the top ten circulating shareholders include the exit of Hong Kong Central Clearing Limited, Nuoan Active Return Mixed A (001706), and Southern CSI 500 ETF (510500) from the list [3].

Group 1 - The core viewpoint of the news is that Shenzhen Sanda Industrial Co., Ltd. (深桑达A) has experienced fluctuations in its stock price and significant changes in its financial performance, with a notable decline in revenue and profit in the first half of 2025 [1][2][3] - As of September 19, the stock price of 深桑达A decreased by 2.01% to 22.48 CNY per share, with a total market capitalization of 25.581 billion CNY [1] - The company has seen a year-to-date stock price increase of 28.31%, but it has declined by 3.89% in the last five trading days and 8.51% in the last 20 days [1] Group 2 - The main business segments of 深桑达A include logistics transportation, warehousing, electronic manufacturing, and real estate, with high-tech industry engineering services accounting for 92.43% of revenue [2] - As of June 30, 2025, the company reported a revenue of 23.434 billion CNY, a year-on-year decrease of 29.52%, and a net profit attributable to shareholders of -97.4891 million CNY, a decrease of 157.29% [2] - The company has distributed a total of 9.11 billion CNY in dividends since its listing, with 3.53 billion CNY distributed in the last three years [3]

Company Overview - Shenzhen Sanda Industrial Co., Ltd. is located in Nanshan District, Shenzhen, Guangdong Province, and was established on December 4, 1993. The company was listed on October 28, 1993. Its main business includes logistics transportation, warehousing, electronic manufacturing (mainly railway GSM-R terminals, commercial and tax control cash registers, power supply, and LED lighting), trade services, and real estate [2]. Business Performance - For the first half of 2025, the company achieved operating revenue of 23.434 billion yuan, a year-on-year decrease of 29.52%. The net profit attributable to the parent company was -97.4891 million yuan, a year-on-year decrease of 157.29% [2]. - The company's main business revenue composition is as follows: high-tech industry engineering services 92.43%, digital heating and new energy services 4.70%, digital and information services 2.26%, and other industrial services 0.61% [2]. Stock Performance - On September 18, the stock price of Sanda A rose by 2.15%, reaching 23.33 yuan per share, with a trading volume of 124 million yuan and a turnover rate of 0.50%. The total market capitalization is 26.549 billion yuan [1]. - Year-to-date, Sanda A's stock price has increased by 33.16%. In the last five trading days, it has risen by 0.26%, while it has decreased by 3.11% over the last 20 days and increased by 15.95% over the last 60 days [1]. - The stock has appeared on the "Dragon and Tiger List" six times this year, with the most recent appearance on August 1, where it recorded a net purchase of 193 million yuan [1]. Shareholder Information - As of June 30, 2025, the number of shareholders of Sanda A is 66,800, a decrease of 11.78% from the previous period. The average circulating shares per person increased by 91.51% to 16,316 shares [2]. - The company has distributed a total of 9.11 billion yuan in dividends since its listing, with 353 million yuan distributed in the last three years [3]. Institutional Holdings - As of June 30, 2025, Hong Kong Central Clearing Limited, Nuoan Active Return Mixed A (001706), and Southern CSI 500 ETF (510500) have exited the top ten circulating shareholders list [3].

Core Viewpoint - The company, Shenzhen Sanda Industrial Co., Ltd., is actively engaging in various projects and initiatives to enhance its market position and address recent stock price fluctuations, while also planning a significant capital raise through a targeted stock issuance [2][3][4]. Group 1: Stock Performance and Market Activity - As of September 12, 2025, Shenzhen Sanda A's stock closed at 23.54 yuan, reflecting a 1.16% increase with a turnover rate of 3.19% and a trading volume of 347,200 shares, amounting to a total transaction value of 830 million yuan [1]. - On the same day, the main funds experienced a net outflow of 36.77 million yuan, accounting for 3.64% of the total transaction value [4]. Group 2: Corporate Announcements and Developments - The company confirmed its successful bid for the BEST equipment water cooling system project, indicating ongoing engagement in significant contracts [2]. - Shenzhen Sanda A has received approval from the China Securities Regulatory Commission for a targeted stock issuance, aiming to raise up to 2.5 billion yuan for various projects, including cloud operations and distributed storage research [3][4]. - The company is focusing on enhancing its core competitiveness and managing its market value through strategic operational improvements and high-quality development initiatives [2]. Group 3: Data Infrastructure and Innovation - The company is positioning itself as a pioneer in data factorization practices, actively developing data infrastructure and innovative products, with over 120 data innovation projects signed as of August 2025 [2]. - Shenzhen Sanda A has secured public data authorizations from 20 provinces and cities, creating multiple data products across various industries, including finance, healthcare, and transportation [2].

Core Viewpoint - Shenzhen Sanda Industrial Co., Ltd. plans to raise up to 2.5 billion yuan through a private placement of shares to fund various projects, despite facing ongoing losses in its digital and information services segment from 2022 to 2024 [2][7]. Group 1: Stock Performance - As of September 12, 2025, Shenzhen Sanda A's stock closed at 23.39 yuan, up 2.68% from the previous week [1]. - The stock reached a peak price of 24.98 yuan on September 9, 2025, and a low of 22.31 yuan on September 10, 2025 [1]. - The company's current total market capitalization is 26.788 billion yuan, ranking 3rd in the professional engineering sector and 701st among all A-shares [1]. Group 2: Fundraising and Projects - The company intends to use the raised funds for operational cloud projects, distributed storage R&D, the first phase of the China Electronic Cloud R&D base, high-tech industrial engineering services, and to supplement working capital or repay bank loans [2][7]. - The private placement will not result in a change of control for the company, and the implementation of the fundraising projects will involve the company's controlling non-wholly-owned subsidiaries [2]. Group 3: Financial Performance and Risks - The digital and information services segment has experienced continuous losses in net profit attributable to the parent company from 2022 to 2024 [2][7]. - The company has disclosed several risk factors, including long accounts receivable aging, impairment of contract assets, and a high asset-liability ratio [2].