神州数码集团股份有限公司 关于回购股份事项的进展公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚 假记载、误导性陈述或者重大遗漏。 神州数码集团股份有限公司（以下简称"公司"）第十一届董事会第八次会议于 2024 年 10 月 29 日审议通过了《关于以集中竞价交易方式回购公司股份方案的议 案》，公司拟使用自有资金及股票回购专项贷款资金，以集中竞价交易方式回购公司 股份，拟使用的资金总额为不低于人民币 2 亿元（含）且不超过人民币 4 亿元（含）， 回购股份价格不超过人民币 43 元/股（含）。公司于 2024 年 11 月 9 日披露了《关于 以集中竞价交易方式回购公司股份的报告书》，于 2024 年 12 月 3 日、2025 年 1 月 3 日、2025 年 1 月 27 日、2025 年 3 月 4 日、2025 年 4 月 2 日、2025 年 5 月 7 日、 2025 年 6 月 4 日、2025 年 7 月 3 日、2025 年 8 月 2 日披露了《关于回购股份事项的 进展公告》，于 2025 年 1 月 16 日披露了《关于首次回购公司股份的公告》，具体内 容详见公司在《 ...

人民财讯9月3日电，企查查APP显示，近日，深圳神州数码微电子有限公司成立，法定代表人为陆明， 注册资本为5000万元，经营范围包含：电子元器件制造；半导体分立器件销售；半导体器件专用设备销 售；集成电路设计；集成电路芯片及产品制造等。企查查股权穿透显示，该公司由神州数码间接全资持 股。 转自：证券时报 ...

2025年上半年，神州数码实现营业收入715.9亿元，同比增长14.4%；战略业务毛利额所占比重同比提升 6.4个百分点至26.2%，盈利能力进一步向高价值业务集中。作为战略转型核心方向，神州数码AI相关业 务在2025年上半年成为拉动整体业绩增长关键力量，实现营业收入133.32亿元，同比增长56%。 凤凰网科技讯 9月3日，神州数码（000034）昨日举办业绩说明会。会上，神州数码提出面向不同企业 级AI场景，依托全栈业务体系，驱动企业AI战略落地的新布局。其中，AI基础设施方面，以神州鲲泰 智算产品为基础，进一步丰富算力设备形态、创新架构设计，持续强化智算基建支撑能力。另外，神州 数码还积极拓展机器人行业，与宇树科技等多家具身智能行业头部企业达成合作，在开展产品分销业务 的基础上，还将联手打造面向巡检、安防等特定场景的解决方案。 ...

Core Insights - The company reported a significant increase in AI-related business revenue, achieving 13.332 billion yuan in the first half of 2025, representing a year-on-year growth of 56% [1] - The AI software and service segment saw a remarkable 100% increase in revenue, driven by the "Shenzhou Wenxue Enterprise Agent Platform" and "Shenzhou Wenxue Intelligent Process Workbench" [1] - The company is focusing on domestic computing power development, with its own brand AI computing power equipment generating 660 million yuan in revenue, a 14% increase year-on-year [1] Revenue Breakdown - The third-party AI computing power service business generated 950 million yuan, marking a 62% year-on-year growth, through partnerships with leading cloud service providers like Azure, AWS, GCP, and Alibaba Cloud [1] - The IT distribution business related to AI hardware achieved 11.7 billion yuan in revenue, reflecting a 59% increase year-on-year [1] - Overall, the company reported total revenue of 71.59 billion yuan in the first half of 2025, with a year-on-year growth of 14.4% [2] Strategic Developments - The company has established an AI-native enterprise-level digitalization technology reference architecture to ensure effective implementation of AI for Process [2] - The product matrix has expanded to cover a full range from servers to PCs and from computing infrastructure to privatized solutions, enhancing its industry presence [2] - The company is actively entering new sectors such as finance, energy, and carbon neutrality, significantly increasing the number of AI application products and service opportunities [2]

Core Insights - The company reported a revenue of 71.59 billion yuan for the six months ending June 30, 2025, representing a year-on-year growth of 14.4% [1] - The gross profit margin of strategic business increased by 6.4 percentage points to 26.2% compared to the previous year [1] - The AI-related business generated a revenue of 13.332 billion yuan, showing a significant year-on-year growth of 56% [1] - The AI software and services segment achieved a remarkable year-on-year revenue growth of 100% [1]

9月2日下午，神州数码（000034）举办2025年半年度业绩说明会，深入解读最新业绩，并围绕AI产业 发展，全面阐述神州数码在AI领域的战略思考、战略布局和行业落地成果。 据了解，作为战略转型核心方向，神州数码AI相关业务在2025年上半年成为拉动整体业绩增长关键力 量，实现营业收入133.32亿元，同比增长56%。其中，依托"神州问学企业级Agent中台"与"神州问学智 能流程工作台"双擎驱动，AI软件及服务业务实现营业收入同比增长100%；聚焦国产算力发展机遇，自 有品牌AI算力设备业务实现营业收入6.6亿元，同比增长14%；通过积极拓展与Azure、AWS、GCP、阿 里云等国际领先云服务商的合作广度与深度，第三方AI算力服务业务实现营业收入9.5亿元，同比增长 62%；抓住AI硬件机遇，聚焦微电子及服务器业务，AI相关的IT分销业务实现营业收入117亿元，同比 增长59%。 2025年上半年，神州数码持续推动AI for Process企业级流程数智化变革，帮助客户在AI时代实现业务流 程的全面重构。与此同时，神州数码AI业务实现"多元化渗透"与"规模化落地"双重突破，产品矩阵和行 业布局进一步完善 ...

Core Insights - The company, Digital China Holdings Limited, has shown steady growth in traditional IT distribution and value-added services while actively advancing AI applications and AI server businesses in the first half of the year [1][2] - The company reported a revenue of 71.586 billion yuan and a net profit attributable to shareholders of 426 million yuan for the first half of the year [1] - R&D expenditure increased by 10.6% year-on-year to 210 million yuan, reflecting the company's commitment to leveraging AI technology and industry transformation opportunities [1] Business Performance - The cloud services and software segment generated 1.64 billion yuan in revenue, marking a 14.1% year-on-year increase [1] - The proprietary brand products segment achieved 3.1 billion yuan in revenue, with a growth of 16.6% year-on-year [1] - The IT distribution and value-added services segment reported 68.39 billion yuan in revenue, reflecting a 14.3% year-on-year increase [1][2] Strategic Developments - The company’s AI-native platform, Shenzhou Wenxue, has been upgraded to an enterprise-level Agent platform, addressing core challenges in enterprise-level AI implementation [2] - The Agent platform integrates four key elements: computing power, models, knowledge, and applications, supporting various development modes for AI agents [2][3] - The company’s proprietary products, including general-purpose servers and AI servers, are designed to meet the increasing demand for computing power in the AGI era, showcasing high efficiency and scalability [3]

2025 年上半年，神州数码实现营业收入 716 亿元，同比增长 14%。毛利金额 达到 25 亿元，主营业务净利润为 5.7 亿元，与去年同期持平。IT 分销业务实 现了 14%的增长，收入达到 684 亿元；自有品牌产品业务收入 31 亿元，同比 增长 17%；数云服务业务收入 16 亿元，同比增长 14%。公司在市场不确定的 环境下控制销售和管理费用，仅增长 3%，远低于销售收入的增长。同时，加 大研发投入，增长 11%。合并归母净利润为 4.36 亿元，同比下降 4.1%，主 神州数码 20250902 摘要 神州数码 2025 年上半年营收 684 亿元，自有品牌产品收入增长 17% 至 31 亿元，数云服务收入增长 14%至 16 亿元。公司有效控制销售和 管理费用，研发投入增长 11%，归母净利润同比下降 4.1%至 4.36 亿 元，但主营业务净利润稳步增长至 5.56 亿元，财务费用大幅降低 52% 至 2.4 亿元。 AI 相关收入增长显著，达 133 亿元，增长率近 60%。AI 软件及服务方 面，神州问学企业 A'LETTERS J 平台和问学智能流程工作平台实现软件 和服务收入近 4 ...

执业证书编号：S0740524030002 Email：sunxz@zts.com.cn | 基本状况 | | | --- | --- | | 总股本(百万股) | 720.20 | | 流通股本(百万股) | 601.59 | | 市价(元) | 44.84 | | 市值(百万元) | 32,293.60 | | 流通市值(百万元) | 26,975.41 | 神州数码 25H1 点评：微电子分销加速，AI 助力数智化转型 IT 服务Ⅱ 神州数码（000034.SZ） 证券研究报告/公司点评报告 2025 年 09 月 01 日 | 评级： | 买入（维持） | 公司盈利预测及估值 | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | 指标 | | 2023A | 2024A | 2025E | 2026E | 2027E | | 分析师：孙行臻 | | 营业收入（百万元） | | 119,624 | 128,166 | 137,339 | 146,095 | 156,044 | | | | 增长率 yoy% ...

Core Viewpoint - The report highlights that Digital China (000034) has shown robust revenue growth in the first half of 2025, driven by its strategic business segments, despite a decline in net profit due to increased R&D investments in AI products and other factors [1][2]. Financial Performance - In the first half of 2025, Digital China achieved operating revenue of 71.59 billion yuan, a year-on-year increase of 14.4% [1]. - The company's net profit attributable to shareholders was 430 million yuan, a decrease of 16.3% year-on-year [2]. - The cash flow from operating activities reached 500 million yuan, reflecting a significant year-on-year growth of 236.81% [2]. Strategic Business Growth - The IT distribution and value-added services segment generated revenue of 68.39 billion yuan, up 14.3% year-on-year, with the microelectronics business segment achieving a revenue of 12.1 billion yuan, growing by 30.4% [1]. - The cloud services and software business reported revenue of 1.64 billion yuan, a 14.1% increase, while the proprietary brand products business reached 3.1 billion yuan, growing by 16.6% [1]. Profitability and R&D Investment - The proprietary brand business saw a significant increase in net profit, totaling 59.57 million yuan, which is a 90.5% year-on-year growth [2]. - R&D investment for the first half of 2025 was 210 million yuan, marking a 10.6% increase, aimed at enhancing AI applications and server performance [3]. Future Outlook - Digital China is positioned to capitalize on the AI wave and is actively pursuing strategic transformations in the AI computing market, with expectations of accelerated growth in the coming years [3]. - Forecasted net profits for 2025, 2026, and 2027 are 1.259 billion yuan, 1.585 billion yuan, and 1.885 billion yuan, respectively, with corresponding P/E ratios of 26X, 20X, and 17X [3].