Core Viewpoint - The article discusses the public announcement of the candidates for the 2026 annual energy storage system framework procurement by China General Nuclear Power Group (CGN) [3]. Group 1: Procurement Details - The procurement involves six segments, each with a capacity of 1.2 GWh, totaling 7.2 GWh [4]. - The bidding price range for the six segments is between 0.491 yuan/Wh and 0.52995 yuan/Wh [5]. - The first candidates for each segment and their respective prices are as follows: - Segment 1: Envision Energy Co., Ltd. at 0.495 yuan/Wh - Segment 2: BYD Auto Industry Co., Ltd. at 0.507 yuan/Wh - Segment 3: CRRC Zhuzhou Electric Locomotive Research Institute Co., Ltd. at 0.491 yuan/Wh - Segment 4: Nanjing NARI Group at 0.52995 yuan/Wh - Segment 5: Beijing Tiancheng Tongchuang Electric Co., Ltd. at 0.52265 yuan/Wh - Segment 6: Shenzhen Kelu Electronics Technology Co., Ltd. at 0.515 yuan/Wh [5][6]. Group 2: Bidder Requirements - Bidders must participate in all six segments and cannot have different quotes for the same model and technical requirements across different segments; otherwise, their bids will be disqualified [7]. - Bidders must meet performance requirements for both grid-connected and off-grid energy storage equipment [8]. - Specific performance requirements include: - For off-grid equipment: at least 50 MWh operational performance over the last three years, with battery units having at least 500 MWh operational performance, and energy storage inverters with at least 20 MW operational performance. - For grid-connected equipment: at least 1 GWh operational performance over the last three years, with at least one project having 200 MWh operational performance, and similar battery and inverter requirements as above [9]. Group 3: Contract Validity - The framework contract is valid from January 2026 to January 2027 [10].

证券代码：002121 证券简称：科陆电子 公告编号：2026010 开具了反担保履约保函/备证，汇丰银行（中国）有限公司开具反担保履约保函/ 备证给转开行汇丰银行（智利），汇丰银行（智利）开具了当地的独立履约保函/ 备证给受益人项目公司 A，保函金额合计 1,061.40 万美元，保函有效期至 2025 年 12 月 31 日止。鉴于美国科陆相关合同义务尚未履行完毕，公司继续为美国科 陆提供担保，开具的保函金额为 702 万美元，保函有效期至 2026 年 2 月 28 日止。 2025 年 11 月，美国科陆与美洲某客户签订了《电池储能系统设备采购协议》， 美国科陆将向该客户销售集装箱式电池储能系统合计约 3GWh。根据约定，美国 科陆需向对应的项目公司提供履约保函。近日，公司为美国科陆向星展银行（中 国）有限公司申请开具反担保履约保函/备证，由星展银行有限公司（新加坡） 开具反担保履约保函/备证给转开行富国银行（美国），富国银行（美国）开具 当地的独立履约保函/备证给受益人项目公司 B，保函金额 3,000 万美元，保函有 效期至 2028 年 2 月 28 日止。 | 担保方 | 被担保方 | 担保方 ...

科陆电子公告称，2025年12月及2026年1月，公司审议通过议案，同意为子公司提供不超25.2亿元担保 额度。截至公告披露日，公司及子公司对外担保余额8.42亿元，占2024年末经审计净资产的168.60%， 均为对合并报表内子公司担保。近期，公司为全资子公司美国科陆两笔业务提供担保，涉及保函金额分 别为702万美元（有效期至2026年2月28日）、3000万美元（有效期至2028年2月28日）。美国科陆2025 年1 - 9月营收9.76亿元，净利润 - 1621.61万元。 ...

Core Viewpoint - Shenzhen Kelu Electronics Technology Co., Ltd. has announced the change of its signing registered accountant for the 2025 annual audit, appointing Liu Guojun to replace Deng Yanhong due to work adjustments, while Zheng Rongfu remains as the project partner [1][5]. Group 1: Change of Signing Registered Accountant - The company has approved the appointment of Liu Guojun as the signing registered accountant to replace Deng Yanhong for the 2025 annual audit [1]. - Zheng Rongfu continues to serve as the project partner alongside Liu Guojun for the audit of the company's financial statements and internal controls [1]. Group 2: Background of New Signing Registered Accountant - Liu Guojun became a registered accountant in 2013 and has been involved in auditing listed and over-the-counter companies since 2012, joining Lixin in 2024 [2]. - In the past three years, Liu has signed audit reports for Shenzhen Hanyu Pharmaceutical Co., Ltd. and Shenzhen Zhongji Automation Co., Ltd. [2]. Group 3: Integrity and Independence - Liu Guojun has not faced any criminal penalties or administrative sanctions from regulatory bodies in the past three years [3]. - Liu complies with the independence requirements outlined in the Code of Ethics for Chinese Certified Public Accountants [4]. Group 4: Impact of the Change - The transition of responsibilities during the changeover has been orderly, and it is not expected to adversely affect the quality of the 2025 financial statement audit and internal control review [5].

Core Viewpoint - Kelu Electronics announced a change in its auditing firm for the 2025 fiscal year, with the signing auditor being replaced due to a work adjustment [2]. Group 1 - The auditing firm for Kelu Electronics for the 2025 fiscal year will be changed from Deng Yanhong to Liu Guojun, who will work alongside project partner Zheng Rongfu [2].

Group 1 - The company has signed a letter of intent regarding the sale of assets related to the Guangming Smart Energy Industrial Park with Shenzhen Guangming Science City Industrial Development Group Co., Ltd., China Academy of Science and Technology Development, and Midea Innovation Investment Co., Ltd. [1] - The final transaction plan still requires further negotiation among the parties involved [1]

Core Viewpoint - The company is focusing on its core business, actively expanding the market, and enhancing research and development innovation to accelerate product iteration [2] Group 1 - The company is implementing multiple strategies to strengthen its development foundation, including cost reduction and efficiency improvement [2] - The company is optimizing its supply chain to ensure delivery [2]

Group 1 - The company, Kelu Electronics, responded to investor inquiries on its business planning and major project status, indicating that stakeholders should refer to the company's periodic reports and related announcements for detailed information [2]

证券代码：002121 证券简称：科陆电子 公告编号：2026009 深圳市科陆电子科技股份有限公司 关于变更签字注册会计师的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 深圳市科陆电子科技股份有限公司（以下简称"公司"）于 2025 年 8 月 13 日召开的第九届董事会第十九次会议及 2025 年 9 月 1 日召开的 2025 年第一次临 时股东大会审议通过了《关于续聘立信会计师事务所（特殊普通合伙）为公司 2025 年度审计机构的议案》，同意续聘立信会计师事务所（特殊普通合伙）（以 下简称"立信所"）为公司 2025 年度审计机构，具体内容详见 2025 年 8 月 15 日在《证券时报》、《中国证券报》、《证券日报》、《上海证券报》及巨潮资讯网 （www.cninfo.com.cn）上刊登的《关于续聘立信会计师事务所（特殊普通合伙） 为公司 2025 年度审计机构的公告》（公告编号：2025045）。 近日，公司收到立信会计师事务所（特殊普通合伙）出具的《关于变更深圳 市科陆电子科技股份有限公司签字注册会计师的函》，现将有关情况公告如下： 一 ...

Investment Rating - The report rates the industry as "Outperform" [2] Core Insights - The data center industry has become the core incremental application scenario for the power equipment sector, directly driving demand growth and technological iteration for power equipment [5][2] - The report emphasizes the need to incorporate AI industry multidimensional indicators to accurately gauge the demand for power distribution equipment, given the capital expenditure scale and long investment return cycles in the data center sector [2][5] - Key indicators are constructed from three aspects: demand side (capital expenditure from leading cloud vendors), supply chain (GPU supply tracking), and AI application side (development of AI applications) [2][5] Summary by Sections Demand Side - Capital expenditure from overseas major cloud vendors reached $113.862 billion in Q4 2025, a year-on-year increase of 59.42% and a quarter-on-quarter increase of 14.30% [7] - Alibaba's capital expenditure in Q3 2025 was 31.5 billion yuan, a year-on-year increase of 80.10% but a quarter-on-quarter decrease of 18.55% [10] - Tencent's capital expenditure in Q3 2025 was 13 billion yuan, a year-on-year decrease of 24.05% and a quarter-on-quarter decrease of 32.05% [10] Supply Chain - NVIDIA's total revenue in Q3 2025 was $57.006 billion, with data center product revenue reaching $51.215 billion, marking a historical peak with a quarter-on-quarter growth of 24.62% and a year-on-year growth of 66.44% [15] - TSMC's revenue in December 2025 was 335 billion NTD, a year-on-year increase of 20.4% [22] - The CPU price index in December 2025 was 101.21, showing a slight increase from 99.04 in November [27] AI Application Side - The token call volume from January 27 to February 2, 2026, was 9.81 trillion, reflecting a quarter-on-quarter growth of 26.91% [36] - The price of tokens for models scoring over 40 on the Artificial Analysis Intelligence Index decreased by over 50% in Q3 2025 [45] - The report highlights the steady growth in the number of AI models and the increasing application deployment, which directly impacts the capital expenditure cycle of data centers [29]