一次电源以大型功率类的器件为主，应用于交直流电转换、高低电压转换等应用场景。公司从车规级大功率器件业务出发，以强大的设计能力，以产品的高 可靠性、一致性，为AI服务器的应用场景定制生产各类配套产品。 二次电源为48V转12V直流供电，顺络各类电感、变压器产品为客户解决供电难题。三次电源中，顺络提供的各类元器件产品为xPU芯片（CPU、GPU、 ASIC）、网卡、内存、SSD等应用场景供电，产品包括各类工艺的新型AI电感（组装/铜磁共烧/模压/一体成型工艺）、钽电容产品及多种类配套产品等。 从传统服务器向AI服务器升级的过程中，CPU、GPU、ASIC芯片周边的功耗快速提升，对元器件的性能、功率密度、散热系数等均提出的更高的要求，顺 络电子基于对材料、设备、设计、制造工艺的能力，把握住产业机会，为功率半导体类客户及各类AI服务器类客户提供一站式元器件解决方案。 近日，顺络电子在接受机构调研时表示，目前公司AI服务器相关的订单饱满，相关业务快速增长。 数据中心是顺络电子战略布局新兴战略市场之一，公司立足于小型化、高精度、高功率密度技术优势，从服务器整体供电架构出发，为客户供应从一次电 源、二次电源、三次电源（各类 ...

每经头条（nbdtoutiao）——海拔4306米现"秦始皇密令"，获官方"身份认定"！古文字学家刘钊：秦人 寻仙采药足迹确至青藏高原 （记者 王晓波） 每经AI快讯，顺络电子（SZ 002138，收盘价：34.78元）发布公告称，2025年9月15日~16日，顺络电子 接受交银施罗德等投资者调研，公司董事会秘书任怡参与接待，并回答了投资者提出的问题。 2025年1至6月份，顺络电子的营业收入构成为：电子元器件行业占比100.0%。 ...

证券代码：002138 证券简称：顺络电子 深圳顺络电子股份有限公司投资者关系活动记录表 1 | 体成型工艺）、钽电容产品及多种类配套产品等。从传统服 | | --- | | 务器向AI服务器升级的过程中，CPU、GPU、ASIC芯片周边的 | | 功耗快速提升，对元器件的性能、功率密度、散热系数等均 | | 提出的更高的要求，公司基于对材料、设备、设计、制造工 | | 艺的能力，把握住产业机会，为功率半导体类客户及各类AI | | 服务器类客户提供一站式元器件解决方案。 | | 目前公司AI服务器相关的订单饱满，相关业务快速增 | | 长。 | | 2、公司提到的AI服务器中电感将向TLVR架构迈进，该如何 | | 理解？ | | 回答： | | 随着AI服务器对数据存储、信息处理和传输的要求持续 | | 提升，整个系统的功率要求同步提高，而单位算力的继续增 | | 长，提升了对AI服务器中各类xPU芯片功率的要求，也对周 | | 边元件产品的散热能力和功率密度提出了更高的要求，基于 | | AI服务器客户对元器件产品继续提高功率承接能力、提升瞬 | | 态响应速度的要求，传统的VR结构难以满足大电流的负载 ...

Core Viewpoint - Shunluo Electronics has shown significant stock performance and financial growth, with a notable increase in revenue and net profit in the first half of 2025, indicating strong market positioning and investor interest [1][2]. Financial Performance - As of June 30, 2025, Shunluo Electronics achieved a revenue of 3.224 billion yuan, representing a year-on-year growth of 19.80% [2]. - The net profit attributable to shareholders for the same period was 486 million yuan, reflecting a year-on-year increase of 32.03% [2]. - The company's stock price has increased by 12.91% year-to-date, with a 5.00% rise in the last five trading days and a 29.38% increase over the past 60 days [1]. Shareholder Information - The number of shareholders decreased by 7.57% to 39,400 as of June 30, 2025, while the average number of circulating shares per person increased by 8.64% to 19,220 shares [2]. - The total cash dividends distributed by Shunluo Electronics since its A-share listing amount to 2.32 billion yuan, with 869 million yuan distributed in the last three years [3]. Stock Market Activity - On September 16, 2025, Shunluo Electronics' stock rose by 2.05%, reaching a price of 34.88 yuan per share, with a trading volume of 548 million yuan and a turnover rate of 2.11% [1]. - The net inflow of main funds was 20.56 million yuan, with significant buying activity from large orders [1]. Company Overview - Shunluo Electronics, established on September 8, 2000, and listed on June 13, 2007, specializes in the research, production, and sales of new electronic components, primarily chip inductors and chip varistors [1]. - The company's main business revenue composition is 99.13% from chip electronic components and 0.87% from other sources [1].

Core Viewpoint - The stock of Shunluo Electronics has experienced fluctuations, with a recent decline of 2.02% on September 15, 2023, while the company shows a year-to-date stock price increase of 11.25% [1] Company Overview - Shunluo Electronics, established on September 8, 2000, and listed on June 13, 2007, is located in Longhua District, Shenzhen, Guangdong Province. The company specializes in the research, production, and sales of new electronic components, primarily chip inductors and chip varistors [1] - The main business revenue composition is 99.13% from chip electronic components and 0.87% from other sources [1] - The company belongs to the electronic components industry, specifically passive components, and is associated with concepts such as Foxconn, high dividend yield, OBC, 5G, and fuel cells [1] Financial Performance - As of June 30, 2025, Shunluo Electronics reported a revenue of 3.224 billion yuan, representing a year-on-year growth of 19.80%, and a net profit attributable to shareholders of 486 million yuan, reflecting a growth of 32.03% [2] - The company has cumulatively distributed 2.32 billion yuan in dividends since its A-share listing, with 869 million yuan distributed over the past three years [3] Shareholder Information - As of June 30, 2025, the number of shareholders decreased by 7.57% to 39,400, while the average circulating shares per person increased by 8.64% to 19,220 shares [2] - The top circulating shareholders include Hong Kong Central Clearing Limited, which holds 50.2593 million shares (a decrease of 8.0397 million shares), and XINGQUAN Trend Investment Mixed Fund, holding 34.3585 million shares (a decrease of 4.6453 million shares) [3]

Revenue Trends - The revenue of China's inductor industry is expected to show a steady growth trend from 2019 to 2024, with a significant increase in 2021, indicating relative industry prosperity in recent years. The growth rate of the industry increased year by year from 2019 to 2021, but stabilized starting in 2022 [1] Profitability Analysis - The sales gross margin of China's inductor industry exhibited a trend of first increasing and then decreasing from 2019 to 2024. The gross margin increased from 2019 to 2021 due to high product demand and strong bargaining power of industry enterprises. However, starting in 2022, the overall market returned to rationality, leading to a gradual decline in sales gross margin [2] Inventory Turnover - The inventory turnover rate in China's inductor industry showed fluctuations from 2019 to 2024. In 2019, the turnover rate was 5.13 times, affected by weak demand from major downstream terminals like mobile phones and automobiles. The rate peaked at 5.63 times in 2020 due to increased demand for inductors driven by the pandemic. However, it dropped sharply to 4.44 times in 2021 due to a temporary imbalance between supply and demand. From 2022 to 2024, the turnover rate gradually increased from 4.58 times to 4.93 times, reflecting steady recovery in demand driven by emerging fields such as 5G, new energy vehicles, and the Internet of Things [4] Accounts Receivable Turnover - The accounts receivable turnover rate in China's inductor industry showed a trend of first increasing and then decreasing, fluctuating between 3 and 4. Overall, the industry has a relatively low accounts receivable turnover rate, indicating longer collection periods. This is primarily due to the strong bargaining power of large electronic equipment manufacturers, which often require longer payment terms to optimize their cash flow [7] Debt Ratio - The asset-liability ratio of China's inductor industry showed an overall increasing trend from 2019 to 2024, rising from 35.2% to 44.2%. The ratio remains below 50%, indicating a moderate reliance on debt. The increasing trend reflects enterprises' efforts to expand scale by increasing debt ratios, aligning with the industry's transition towards miniaturization and high power density. Major manufacturers are investing heavily in high-end production capacity, such as new integrated inductor projects and overseas production bases, leading to a record high in debt levels [9]

Group 1 - The core viewpoint of the news is that Shunluo Electronics has seen a significant increase in its stock price, rising by 5.13% to reach 35.47 CNY per share, with a trading volume of 892 million CNY and a market capitalization of 28.6 billion CNY [1] - Shunluo Electronics, established on September 8, 2000, and listed on June 13, 2007, specializes in the research, production, and sales of new electronic components, primarily chip inductors and chip varistors, with 99.13% of its revenue coming from these components [1] - The company is located in the Guanlan Industrial Park, Longhua District, Shenzhen, Guangdong Province [1] Group 2 - From the perspective of fund holdings, Shunluo Electronics is a significant investment for the Shenwan Hongyuan Fund, with its Shenwan Hongxin CSI 500 Index Enhanced A fund holding 147,800 shares, accounting for 0.97% of the fund's net value, making it the sixth-largest holding [2] - The Shenwan Hongxin CSI 500 Index Enhanced A fund was established on April 21, 2016, and has a current scale of 276 million CNY, with a year-to-date return of 12.68% and a one-year return of 35.13% [2] - The fund manager, Yu Cheng, has been in position for 9 years and 286 days, with the best fund return during his tenure being 76.19% [3]

Core Viewpoint - The company has completed a stock repurchase, transferring 9,563,500 shares to its employee stock ownership plan, representing 1.19% of the total share capital at a price of 14.435 CNY per share [1] Summary by Categories Stock Repurchase - The company received a confirmation from China Securities Depository and Clearing Corporation Limited Shenzhen Branch regarding the stock transfer [1] - A total of 9,563,500 shares were transferred to the company's employee stock ownership plan on September 8, 2025 [1] - The transfer price for the shares was set at 14.435 CNY per share [1] Share Capital Impact - The transferred shares account for 1.19% of the company's current total share capital [1]

股票代码：002138 股票简称：顺络电子 编号：2025-070 深圳顺络电子股份有限公司 关于第五期员工持股计划非交易过户完成 暨回购股份处理完成的公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚 假记载、误导性陈述或重大遗漏。 截至本公告披露日，公司已在中国证券登记结算有限责任公司深圳分公司开 立了本次员工持股计划专用证券账户，证券账户名称为"深圳顺络电子股份有限 公司－第五期员工持股计划"，证券账户号码为"0899493705"。 深圳顺络电子股份有限公司（以下简称"公司"）于 2025 年 7 月 30 日召开 第七届董事会第十六次会议，审议通过了《关于<深圳顺络电子股份有限公司第 五期员工持股计划（草案）>及摘要的议案》、《关于<深圳顺络电子股份有限公 司第五期员工持股计划管理办法>的议案》以及《关于提请股东大会授权董事会 办理公司第五期员工持股计划相关事宜的议案》。上述议案已由 2025 年 8 月 15 日召开的 2025 年第一次临时股东大会审议通过，具体内容详见公司分别于 2025 年 7 月 31 日 、 2025 年 8 月 16 日 刊 登 于 《 证 券 时 ...

Core Viewpoint - Shenzhen Sunlord Electronics Co., Ltd. is currently involved in multiple patent infringement lawsuits initiated by Murata Manufacturing Co., Ltd., with some cases already withdrawn by the plaintiff [1][2]. Group 1: Lawsuit Details - On August 1, 2024, Sunlord Electronics received a civil lawsuit notice from the Shanghai Intellectual Property Court regarding five patent infringement cases filed by Murata Manufacturing [1]. - As of September 5, 2025, two of the cases (case numbers 136 and 137) have been withdrawn by the plaintiff, while three cases (133, 134, and 135) remain under trial [2]. Group 2: Company Response and Strategy - Sunlord Electronics has stated that it does not recognize the claims made by the plaintiff and will actively respond to the lawsuits [2]. - The company emphasizes its commitment to respecting intellectual property rights and aims to build its own intellectual property system, with R&D investment reaching 277 million RMB in the first half of 2025, a year-on-year increase of 23.82% [2]. Group 3: Financial Impact and Future Actions - The company acknowledges that the ongoing lawsuits may have uncertain impacts on its current and future profits, with the final effects dependent on court rulings [2]. - The board of directors will closely monitor the situation and take necessary legal measures to protect the company's and shareholders' interests [2].