证券代码：000034 证券简称：神州数码 公告编号：2025-127 神州数码集团股份有限公司 第十一届董事会第十七次会议决议公告 若股东大会同意免去彭龙先生的独立董事职务，董事会同意尹世明先生接任 第十一届董事会审计委员会委员，委员任期与公司第十一届董事会相同。 （二）审议通过《关于召开 2025 年第四次临时股东大会的议案》 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。 一、 董事会会议召开情况 神州数码集团股份有限公司（以下简称"公司"）第十一届董事会第十七次 会议通知于 2025 年 7 月 11 日以电子邮件方式向全体董事发出，会议以传签方式 于 2025 年 7 月 16 日形成决议。会议应当参加表决的董事 8 名，实际参加表决的 董事 7 名，独立董事彭龙先生因正在接受纪律审查和监察调查未能参加表决。本 次会议的召开和表决程序符合《公司法》和《公司章程》等有关规定。 二、 董事会会议审议情况 （一）审议通过《关于免去独立董事职务的议案》 公司独立董事彭龙先生因正接受纪律审查和监察调查，无法正常履职。经公 司第十一届董事会提名委员会审核通过，董事 ...

Group 1 - The core index of the CSI 500 Consumer Discretionary Index is reported at 3880.00 points, with a recent increase of 2.84% over the past month and a slight decrease of 0.47% year-to-date [1][2] - The CSI 500 Consumer Discretionary Index is composed of various sectors categorized into 11 primary industries, 35 secondary industries, and over 90 tertiary industries, providing a comprehensive analysis tool for investors [2] - The top ten weighted stocks in the CSI 500 Consumer Discretionary Index include Sichuan Changhong (6.97%), Ninebot (6.54%), Chuanfeng Power (4.85%), and others, indicating a diverse representation of companies [2] Group 2 - The market share of the CSI 500 Consumer Discretionary Index is primarily from the Shanghai Stock Exchange at 62.05%, while the Shenzhen Stock Exchange accounts for 37.95% [2] - The index's holdings are significantly concentrated in the passenger vehicles and parts sector (35.37%) and durable consumer goods (34.76%), highlighting the focus on these industries [2] - The index samples are adjusted biannually, with changes implemented on the next trading day following the second Friday of June and December, ensuring the index remains reflective of market conditions [3]

Core Viewpoint - The launch of the first commercial computer based on the Kunpeng technology route in Anhui marks a significant milestone for the local innovation industry and sets a new benchmark for the Yangtze River Delta region [1][2]. Group 1: Product Development - The new product signifies a breakthrough in the manufacturing of commercial computers using the Kunpeng technology route, achieving a transition from "0" to "1" in this field in Anhui [2]. - The product integrates high performance, low power consumption, and high security features of the Kunpeng technology with domestic operating systems, creating a complete domestic solution from underlying technology to end products [2]. Group 2: Industry Collaboration - The production line exemplifies collaborative innovation among government, industry, academia, and research, supported by the proactive layout of the Hefei municipal government, Huawei's technical backing, and the manufacturing experience of Digital China [2]. - The production line aims to serve local needs while also establishing itself as a benchmark for national technological self-reliance strategies [2]. Group 3: Market Demand and Applications - There is a strong demand for domestic equipment in Anhui, with the newly launched commercial computers designed to meet the needs of various sectors including government, education, healthcare, finance, and telecommunications [2]. - Digital China has positioned Hefei as its headquarters for innovation business since 2021, significantly contributing to local economic development, ranking 49th among private enterprises in Anhui by revenue and 14th in the service industry [2]. Group 4: Future Developments - In 2025, Digital China plans to launch the Shenzhou KunTai Wenshu Integrated Machine (DeepSeek version) based on the "Kunpeng + Ascend" technology, which has received certifications from authoritative bodies [3]. - The company has established a fully domestic technology stack AI computing OpenLab to enhance regional AI ecosystem collaboration [3]. - Digital China has developed a comprehensive product matrix covering cloud, network, edge, and terminal scenarios, supporting cloud computing, big data, and artificial intelligence [3].

Investment Rating - The report maintains a positive outlook on the computer industry for Q2 2025, indicating an expected improvement in performance [2][4]. Core Insights - The report predicts a gradual recovery in industry profits starting from Q2 2025, with revenue growth rates of 5% and 21% for Q4 2024 and Q1 2025 respectively, and net profit growth rates of -68% and 82% [4][5]. - A total of 55 tracked A-share and Hong Kong-listed computer companies are analyzed, with 13 companies expected to achieve over 50% net profit growth, representing 23.6% of the sample [4][5]. - The report identifies key investment targets across various segments, including AIGC, digital economy leaders, and data innovation [4][5]. Summary by Category Company Performance Predictions - Companies with over 50% net profit growth include: - Jinzheng Co. (4493%) - Zhongke Chuangda (333%) - Zhina Zhen (313%) - Kalait (265%) - Hengsheng Electronics (233%) [4][5][6]. - Companies with 30%-50% net profit growth include: - Dameng Data (48%) - Fanwei Network (39%) - New Point Software (38%) [4][5][6]. - Companies with 0%-30% net profit growth include: - Dongfang Caifu (27%) - Haiguang Information (27%) - Desai Xiwai (27%) [4][5][6]. - Companies with -30% to 0% net profit growth include: - Weining Health (-4%) - Nova Star Cloud (-11%) [4][5][6]. - Companies with less than -30% net profit growth include: - Qiming Star (-30%) - Top Point Software (-36%) [4][5][6]. Key Investment Targets - AIGC Segment: Jinshan Office, Wanxing Technology, Daotong Technology, Hongsoft Technology, and others [4]. - Digital Economy Leaders: Hikvision, Jinshan Office, Hengsheng Electronics, and others [4]. - Data Innovation: Haiguang Information, Ruantong Power, Suocheng Technology, and others [4]. - AIGC Computing Power: Langchao Information, Haiguang Information, and others [4].

Core Viewpoint - The report highlights the significant success of the "Digital Cloud Integration" strategy of Digital China (000034), with strong growth in proprietary brands and export sales, leading to a revised target price of 42.15 CNY and a rating of "Buy" [1][3]. Group 1: Business Performance - The company expects continued high growth in proprietary brand and export businesses, with projected EPS for 2025-2027 at 1.69, 1.95, and 2.28 CNY respectively [3]. - For 2024, the company forecasts revenue of 128.17 billion CNY, a year-on-year increase of 7.14%, and a net profit of 753 million CNY, a decrease of 35.77% [3]. - The IT distribution and value-added business generated revenue of 124.45 billion CNY, up 6.84% year-on-year, accounting for 97.10% of total revenue, with a gross margin of 3.39% [3]. Group 2: Strategic Developments - The "Digital Cloud Integration" strategy has shown significant results, with the cloud management and software service business achieving revenue of 2.965 billion CNY, a year-on-year increase of 18.75%, and a gross margin of 20.32% [4]. - The proprietary brand products, including general-purpose servers and AI servers, achieved revenue of 4.581 billion CNY, up 20.25% year-on-year, with a gross margin of 11.49% [4]. - The company has established an overseas strategy, marking a breakthrough in cloud services, distribution, and innovation [4]. Group 3: Future Outlook - The company aims to enhance its digital capabilities across various industries, leveraging the AI-driven Digital Cloud Integration strategy [4]. - Continuous innovation in technology will drive the development of the "Xin Chuang" business, with plans to launch new products covering general computing and AI [4]. - The company is positioned to capitalize on global opportunities by combining "Chinese scenarios" with leading global technologies to foster original innovation and expand its overseas influence [4].

证券代码：000034 证券简称：神州数码 公告编号：2025-126 神州数码集团股份有限公司 关于为子公司担保的进展公告 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"）2025 年 3 月 27 日召开的 第十一届董事会第十三次会议、2025 年 4 月 22 日召开的 2024 年年度股东大会 审议通过了《关于预计担保额度的议案》，同意公司和控股子公司向业务相关方 （包括但不限于银行、金融机构及供应商等）申请授信或其他履约义务，同意为 下属控股子公司提供担保或控股子公司之间提供担保。其中，为资产负债率低于 70%的控股子公司提供担保的额度不超过人民币 20 亿元，为资产负债率 70%以上 的控股子公司提供担保的额度不超过人民币 630 亿元，预计提供担保总额不超过 等额 650 亿元人民币，担保方式为保证担保、抵押担保、质押担保等，且任一时 点的担保余额不超过股东大会审议通过的额度。同时，在此担保额度范围内，公 司合并报表范围内控股子公司之间提供的担保，按照控股子公司的审议程序决定， 控股子公司在其履行审议程序 ...

Group 1 - Investment Rating: Maintain 'Outperform' rating with a target price of RMB 42.15 [1][43] - Core Viewpoint: The company's data-cloud integration strategy is effective, with high growth expected in proprietary brand and export businesses [1][44] - Revenue and Profit Forecast: For 2024, revenue is projected at RMB 128.17 billion, up 7.14% YoY, with net profit attributable to shareholders at RMB 753 million, down 35.77% YoY [3][44] Group 2 - Financial Summary: Revenue is expected to grow from RMB 136.36 billion in 2025 to RMB 147.25 billion in 2027, with net profit increasing from RMB 1.20 billion to RMB 1.62 billion during the same period [3][5] - Business Segmentation: IT distribution and value-added services dominate, with revenue from IT distribution expected to reach RMB 130.67 billion in 2025, while proprietary brand revenue is forecasted at RMB 5.96 billion [17][19] - Cloud Services Growth: Revenue from cloud services is expected to grow significantly, with a projected increase of 20% in 2025 [19][20] Group 3 - Core Business Strategy: The company focuses on a "data-cloud integration" strategy, enhancing digital capabilities across various industries [23][30] - Competitive Advantage: The company has a comprehensive cloud and digital technology capability, providing a full range of AI services and cloud professional services [26][29] - International Expansion: The company is pursuing an overseas strategy, leveraging its proprietary products and services to enhance its global presence [30][39]

Core Viewpoint - The demand for AI integrated machines is rapidly increasing as AI large model applications accelerate, with several leading companies launching new products in this space [1][2]. Group 1: Market Demand and Product Launches - The AI integrated machine market is experiencing explosive growth due to the application of AI technology across various industries [2]. - Companies like Pingao Software, Zhongke Shuguang, and Digital China have recently introduced new AI integrated machines tailored for specific needs [1][3]. - The Pingyuan AI integrated machine is the first in China to feature 16 Jiangyuan D10 AI inference cards, supporting private deployment and offering a controllable core technology [2]. Group 2: Advantages of AI Integrated Machines - AI integrated machines provide high stability, simplified deployment, customizable models, lower costs, and enhanced data security compared to cloud computing [2]. - These machines are designed to improve performance and energy efficiency through deep hardware and software integration [2]. Group 3: Industry Applications - AI integrated machines are being utilized in various sectors, including government, education, research, healthcare, and finance, for applications such as disease diagnosis and risk assessment [2]. - The technology is expected to expand rapidly in the enterprise market as costs decrease and capabilities improve [2]. Group 4: Competitive Landscape - Several A-share listed companies, including Inspur, CloudWalk, Tianrongxin, and Deepin Technology, are actively entering the AI integrated machine market and achieving significant progress [3]. - CloudWalk has launched a training and inference integrated machine in collaboration with Huawei, achieving a 50% cost reduction for financial and government applications [3]. - Tianrongxin's intelligent computing integrated machine has passed industry capability verification, helping clients build AI application infrastructure [3][4]. Group 5: Sales Performance - Tianrongxin reported sales of over 2 million yuan for its intelligent computing integrated machine in the first quarter, with signed orders exceeding 20 million yuan, indicating rapid growth potential [4].

Group 1 - The People's Bank of China has increased its gold reserves for eight consecutive months, with the latest figures showing a rise of 70,000 ounces to a total of 73.9 million ounces as of the end of June [2] - By the end of 2027, China aims to have over 100,000 high-power charging facilities nationwide, focusing on local economic development and the promotion of new energy vehicles [2] - The Shanghai Stock Exchange and the China Securities Index Company will launch several specialized indices on July 21, including the Shanghai Stock Exchange Specialized New Index and the China Securities Specialized New 100 Index [3] Group 2 - A new mandatory national standard for passenger car braking systems will take effect on January 1, 2026, introducing requirements for electric transmission braking systems and emergency braking signals [3] - An international standard for testing scenarios of autonomous vehicle systems has been officially released, detailing evaluation processes and testing methods [4] - The U.S. President has signed an executive order extending the delay for "reciprocal tariffs" until August 1, affecting imports from 14 countries with varying tariff rates [8][5] Group 3 - The U.S. stock market saw declines across major indices, with the Dow Jones down 0.94%, the Nasdaq down 0.92%, and the S&P 500 down 0.79%, impacting stocks of Japanese and Korean companies listed in the U.S. [5] - Companies such as Nissan and Toyota experienced significant stock drops, with Nissan down over 7% and Toyota down nearly 4% [5] - The market sentiment is shifting towards a balanced approach, with a focus on large-cap stocks and potential inflows of incremental capital in July [8][9]

Group 1 - The stock price of Digital China (000034) closed at 36.5 yuan as of July 4, 2025, down 2.64% from the previous week [1] - The company's total market capitalization is 25.961 billion yuan, ranking 10th in the IT services sector and 594th among all A-shares [1] - The company announced a share buyback plan with a total fund of no less than 200 million yuan and no more than 400 million yuan, with a maximum buyback price of 43 yuan per share [1] Group 2 - As of June 30, 2025, Digital China has repurchased a total of 3,629,162 shares, accounting for 0.50% of the total share capital, with a total payment of 130,863,754.46 yuan [1][3] - Independent director Peng Long is under disciplinary review and investigation by the Central Commission for Discipline Inspection and the Shanxi Provincial Supervisory Commission, but this will not significantly impact the company's operations [2]