Core Viewpoint - Kehua Data (002335.SZ) reported a revenue of 5.706 billion yuan for the first three quarters of 2025, reflecting a year-on-year growth of 5.79% [1] - The net profit attributable to shareholders reached 344 million yuan, marking a significant year-on-year increase of 44.71% [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 300 million yuan, showing a year-on-year growth of 36.85% [1] - Basic earnings per share stood at 0.73 yuan [1] Financial Performance - Revenue for the first three quarters: 5.706 billion yuan, up 5.79% year-on-year [1] - Net profit attributable to shareholders: 344 million yuan, up 44.71% year-on-year [1] - Net profit after deducting non-recurring items: 300 million yuan, up 36.85% year-on-year [1] - Basic earnings per share: 0.73 yuan [1]

Core Viewpoint - KWH Data, a leading UPS manufacturer in China, has shown significant growth in its data center and renewable energy businesses, with a notable increase in revenue and net profit in 2025, despite facing challenges in debt levels and profit margins compared to industry averages [2][3][6]. Group 1: Company Overview - KWH Data was established on March 26, 1999, and listed on the Shenzhen Stock Exchange on January 13, 2010, with its headquarters in Xiamen, Fujian Province [1]. - The company specializes in the production and sales of UPS power supplies for information equipment and industrial power, holding a significant market position in both domestic and global markets [1]. Group 2: Financial Performance - For Q3 2025, KWH Data reported a revenue of 5.706 billion yuan, ranking 4th in the industry, surpassing the industry average of 3.374 billion yuan [2]. - The revenue breakdown includes 1.852 billion yuan from renewable energy products (49.62%), 784 million yuan from data center products (21.01%), and 613 million yuan from IDC services (16.43%) [2]. - The net profit for the same period was 352 million yuan, also ranking 4th in the industry, exceeding the industry average of 191 million yuan [2]. Group 3: Financial Ratios - As of Q3 2025, KWH Data's debt-to-asset ratio was 54.39%, which, while improved from 61.95% year-on-year, remains above the industry average of 42.24% [3]. - The gross profit margin for the period was 25.10%, slightly lower than the previous year's 25.33% and below the industry average of 25.60% [3]. Group 4: Shareholder Information - As of September 30, 2025, the number of A-share shareholders decreased by 8.17% to 62,400, while the average number of shares held per shareholder increased by 8.90% to 7,281.17 shares [5]. - Notable changes among the top ten circulating shareholders include an increase in holdings by Hong Kong Central Clearing Limited and a decrease in holdings by several ETFs [5]. Group 5: Market Outlook - Analysts from Changjiang Securities noted a turning point in KWH Data's fundamentals, with high growth in the data center business and improved profitability in the renewable energy sector, projecting a net profit of around 700 million yuan for 2025 [6]. - The company is expected to benefit from the expansion of global data center infrastructure and increasing demand for renewable energy products, with projected net profits for 2025-2027 of 727 million, 979 million, and 1.268 billion yuan, respectively [6].

Core Insights - The company reported a revenue of 1.973 billion yuan in the third quarter, representing a year-on-year growth of 18.65% [1] - The net profit attributable to shareholders for the third quarter was 101 million yuan, showing a significant year-on-year increase of 711.41% [1] - For the first three quarters, the company achieved a total revenue of 5.706 billion yuan, which is a year-on-year growth of 5.79% [1] - The net profit attributable to shareholders for the first three quarters reached 344 million yuan, reflecting a year-on-year increase of 44.71% [1]

证券代码：002335 证券简称：科华数据 公告编号：2025-080 科华数据股份有限公司 关于2025年前三季度计提资产减值准备的公告 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，并对公告中的虚 假记载、误导性陈述或重大遗漏承担责任。 一、本次计提资产减值准备情况概述 为了真实、准确、客观的反映科华数据股份有限公司（以下简称"公司"）截 至 2025 年 9 月 30 日的财务状况及经营成果，根据《企业会计准则》、《深圳证 券交易所上市公司自律监管指引第 1 号——主板上市公司规范运作》及公司会计政 策相关规定，本着谨慎性原则，公司对合并报表范围内的各类资产进行了全面清查 和减值测试，对存在减值迹象的相关资产计提相应的减值损失测试后，公司 2025 年 前三季度计提的资产减值准备合计17,263.62万元。具体情况如下： 单位：万元 | 项目 | 报告期计提减值准备金额 | | --- | --- | | 一、信用减值损失 | 5,953.60 | | 应收账款坏账准备 | 5,955.16 | | 其他应收款坏账准备 | 55.98 | | 应收票据坏账准备 | -32.01 | | 长期应收 ...

证券代码：002335 证券简称：科华数据 公告编号： 2025-082 科华数据股份有限公司 第九届监事会第十四次会议决议公告 本公司及其监事会全体成员保证公告内容真实、准确和完整，没有虚假记载、 误导性陈述或者重大遗漏。 科华数据股份有限公司（以下简称 "科华数据"或"公司"）第九届监事 会第十四次会议通知已于2025年10月17日以邮件方式送达全体监事。本次会议于 2025年10月30日下午在公司会议室召开。本次会议应到监事3人，实到监事3人。 会议的内容以及召集、召开的方式、程序均符合《公司法》和《公司章程》的规 定。会议由公司监事会主席黄劲松先生召集并主持。 与会监事经过充分的讨论，审议通过以下决议： 一、以同意票3票，反对票0票，弃权票0票，审议通过《关于公司2025年第 三季度报告的议案》。 1、公司2025年第三季度报告编制和审议的程序符合法律、法规、《公司章 程》和公司内部管理制度的规定；2、2025年第三季度报告的内容和格式符合中 国证券监督管理委员会和深圳证券交易所的各项规定，所包含的信息能真实地反 映出公司2025年前三季度的经营管理情况和财务状况；3、在提出本意见前，未 发现参与20 ...

证券代码：002335 证券简称：科华数据 公告编号：2025-081 科华数据股份有限公司 第九届董事会第二十六次会议决议公告 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，并对公告中的 虚假记载、误导性陈述或重大遗漏承担责任。 一、以同意票7票，反对票0票，弃权票0票，审议通过了《关于公司2025年第 三季度报告的议案》。 公司全体董事、监事、高级管理人员保证公司2025年第三季度报告所载资料 不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容的真实性、准确性 和完整性签署了负个别及连带责任的书面确认意见。 详细内容见本公告日刊登于中国证监会指定信息披露媒体及巨潮资讯网 （http://www.cninfo.com.cn）上的《科华数据股份有限公司2025年第三季度报告》。 特此公告。 科华数据股份有限公司 董 事 会 2025年10月31日 科华数据股份有限公司（以下简称"科华数据"或"公司"）第九届董事会 第二十六次会议通知已于2025年10月17日以邮件方式送达全体董事。本次会议于 2025年10月30日上午10:00以现场与通讯相结合的方式召开并表决。本次会议应到 董事7人，实到董事7 ...

2025 年第三季度报告 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。 科华数据股份有限公司 重要内容提示： 1.董事会、监事会及董事、监事、高级管理人员保证季度报告的真实、准确、完整，不存在虚假记载、误导性陈述或重 大遗漏，并承担个别和连带的法律责任。 科华数据股份有限公司 2025 年第三季度报告 证券代码：002335 证券简称：科华数据 公告编号：2025-079 （一） 主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □是 否 | | 本报告期 | 本报告期比上年同期 | 年初至报告期末 | 年初至报告期末比上 | | --- | --- | --- | --- | --- | | | | 增减 | | 年同期增减 | | 营业收入（元） | 1,973,006,134.27 | 18.65% | 5,705,701,354.35 | 5.79% | | 归属于上市公司股东 | 100,960,357.52 | 711.41% | 344,499,766.09 | 44.71% | | 的净利润（元） | | | | | | 归属于 ...

Summary of Key Points Core Viewpoint - On October 29, KWH Data executed a block trade of 163,100 shares at a transaction price of 50.67 CNY, which represents an 11.66% discount compared to the market closing price of 57.36 CNY [1]. Group 1: Transaction Details - The total transaction amount for the block trade was 8.2643 million CNY, accounting for 0.3% of the total trading volume on that day [1]. - The buyer of the shares was Debon Securities Co., Ltd., while the seller was Kaiyuan Securities Co., Ltd. [2].

Group 1 - The A-share market's energy storage sector is experiencing significant growth, with notable stock price increases for several companies [1] - HaiBo SiChuang's stock rose over 13%, followed by AiLuo Energy with over 9%, and KeLu Electronics with over 7% [2] - The growth is driven by policy support and increasing global demand for grid stability equipment and AI-driven data center power supply systems [1] Group 2 - The battery industry, along with solar energy and electric vehicles, is a core component of China's industrial growth strategy [1] - The total market capitalization of HaiBo SiChuang is 50.6 billion, while AiLuo Energy stands at 12.2 billion [2] - Year-to-date, KeLu Electronics has seen a remarkable increase of 105.52% in its stock price [2]

Core Viewpoint - KWH Data's stock price has shown significant volatility, with a year-to-date increase of 99.27%, but recent declines in the short term raise concerns about market sentiment and trading activity [2]. Group 1: Stock Performance - As of October 29, KWH Data's stock price was 57.43 CNY per share, with a market capitalization of 29.6 billion CNY [1]. - The stock has experienced a decline of 7.85% over the last five trading days and 24.50% over the last 20 days, while it has increased by 34.50% over the last 60 days [2]. Group 2: Trading Activity - KWH Data has appeared on the trading leaderboard seven times this year, with the most recent instance on October 27, where it recorded a net buy of -471 million CNY [2]. - The trading volume on October 27 included total purchases of 402 million CNY, accounting for 9.69% of total trading volume, and total sales of 873 million CNY, accounting for 21.05% [2]. Group 3: Financial Performance - For the first half of 2025, KWH Data reported revenue of 3.733 billion CNY, reflecting a year-on-year growth of 0.06%, and a net profit attributable to shareholders of 244 million CNY, which is a 7.94% increase [3]. Group 4: Shareholder Information - As of October 20, KWH Data had 59,000 shareholders, an increase of 1.72% from the previous period, with an average of 7,706 circulating shares per shareholder, a decrease of 1.69% [3]. - The company has distributed a total of 1.385 billion CNY in dividends since its A-share listing, with 130 million CNY distributed in the last three years [4]. Group 5: Institutional Holdings - As of June 30, 2025, the top ten circulating shareholders included Hong Kong Central Clearing Limited, which reduced its holdings by 3.7254 million shares, and new entrants such as Southern CSI 1000 ETF [4].