广发证券股份有限公司 关于科华数据股份有限公司 预计 2025 年度日常关联交易的核查意见 广发证券股份有限公司（以下简称"保荐机构"）作为科华数据股份有限公 司（以下简称"科华数据"或"公司"）持续督导的保荐机构，根据《证券发行 上市保荐业务管理办法》《深圳证券交易所股票上市规则》《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》《深圳证券交易所上市公 司自律监管指引第 7 号——交易与关联交易》等相关法律、法规和规范性文件的 规定，对公司预计 2024 年度日常关联交易事项进行了核查，具体情况如下： 一、预计 2025 年度日常关联交易基本情况 （一）关联关系概述 因业务发展的需要，公司及控股子公司预计 2025 年度与关联方深圳市科华 恒盛科技有限公司（以下简称"深圳科华"）及思尼采实业（广州）有限公司（以 下简称"思尼采"）存在部分必要的、合理的关联交易，主要涉及销售商品及提 供服务、采购商品及接受服务、厂房租赁等，预计总金额不超过人民币 7,000 万 元。 上述议案已经公司独立董事专门会议 2025 年第一次会议审议通过，独立董 事全票同意将该议案提交董事会审议。本事项在公 ...

广发证券股份有限公司 关于科华数据股份有限公司 2024 年度募集资金存放与实际使用情况的核查意见 广发证券股份有限公司（以下简称"保荐机构"或"广发证券"）作为科华 数据股份有限公司（以下简称"科华数据"或"公司"）持续督导的保荐机构， 根据《证券发行上市保荐业务管理办法》《上市公司监管指引第 2 号——上市公 司募集资金管理和使用的监管要求》《深圳证券交易所股票上市规则》《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》和《深圳证券 交易所上市公司自律监管指引第 13 号——保荐业务》等相关法律法规和规范性 文件的要求，对公司 2024 年度募集资金存放与实际使用情况进行了核查，具体 情况如下： 一、募集资金基本情况 （一）实际募集资金金额、资金到位时间 经中国证券监督管理委员会证监许可[2023]1681 号《关于同意科华数据股份 有限公司向不特定对象发行可转换公司债券注册的批复》，公司于 2023 年 8 月向 不特定对象发行可转换公司债券 14,920,680 张，每张面值为人民币 100 元，应募 集资金总额为人民币 149,206.80 万元，根据有关规定扣除发行费用 1 ...

广发证券股份有限公司 关于科华数据股份有限公司 2024 年度内部控制自我评价报告的核查意见 根据公司非财务报告内部控制重大缺陷认定情况，于内部控制评价报告基准 日，公司未发现非财务报告内部控制重大缺陷。 自内部控制评价报告基准日至内部控制评价报告发出日之间未发生影响内 部控制有效性评价结论的因素。 二、内部控制评价工作情况 （一）内部控制评价范围 广发证券股份有限公司（以下简称"保荐机构"）作为科华数据股份有限公 司（以下简称"科华数据"或"公司"）持续督导的保荐机构，根据《证券发行 上市保荐业务管理办法》《深圳证券交易所股票上市规则》《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》等相关法律、法规和规范 性文件的规定，对公司 2024 年度内部控制自我评价报告进行了核查，具体情况 如下： 一、内部控制评价结论 根据公司财务报告内部控制重大缺陷的认定情况，于内部控制评价报告基准 日，不存在财务报告内部控制重大缺陷。董事会认为，公司已按照企业内部控制 规范体系和相关规定的要求在所有重大方面保持了有效的财务报告内部控制。 1、控制环境 （1）治理结构 公司根据《公司法》、《证券法》、《 ...

广发证券股份有限公司关于 科华数据股份有限公司及控股子公司 使用闲置自有资金购买理财产品的核查意见 广发证券股份有限公司（以下简称"保荐机构"）作为科华数据股份有限公 司（以下简称"科华数据"或"公司"）持续督导的保荐机构，根据《证券发行 上市保荐业务管理办法》《深圳证券交易所股票上市规则》《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》等相关法律、法规和规范 性文件的规定，对公司及控股子公司使用闲置自有资金购买理财产品事项进行了 核查，具体情况如下： 一、投资情况 （一）投资目的：为提高公司资金使用效率，在保证公司正常经营资金需求 和资金安全、投资风险得到有效控制的前提下，合理利用部分暂时闲置自有资金， 充分提高资金使用效率及资金收益率，实现公司和股东收益最大化。 （二）投资金额：公司使用不超过人民币 13 亿元自有资金购买理财产品， 在上述额度内资金可以滚动使用。在额度有效期内，任一时点的投资金额（含以 委托理财投资收益进行再投资的相关金额）不得超出前述投资额度。资金来源为 公司（含纳入公司合并报表范围的下属子公司）闲置自有资金。 （三）投资方式：在有效控制风险的前提下，适当投资 ...

前十大流通股东累计持有： 14590.27万股，累计占流通股比： 36.4%，较上期变化： 76.97万股。 | 名称 | 持有数量(万股) | 占总股本比 | 增减情况 | | --- | --- | --- | --- | | | | 例(%) | (万股) | | 厦门科华伟业股份有限公司 | 9244.58 | 23.06 | 不变 | | 陈成辉 | 1968.08 | 4.91 | 不变 | | 黄婉玲 | 743.83 | 1.86 | 不变 | | 中国建设银行股份有限公司-前海开源公用事业行业股票 | | | | | 型证券投资基金 | 520.16 | 1.30 | 新进 | | 吴有香 | 497.88 | 1.24 | 0.83 | | 香港中央结算有限公司 | 495.98 | 1.24 | 36.55 | | 中国银行股份有限公司-华泰柏瑞中证光伏产业交易型开 | | | | | 放式指数证券投资基金 | 302.08 | 0.75 | 新进 | | 林仪 | 279.34 | 0.70 | -19.00 | | 靳国栋 | 272.46 | 0.68 | -67.88 | | 招 ...

Financial Performance - The company's revenue for Q1 2025 was CNY 1,216,323,160.43, representing a 2.73% increase compared to CNY 1,183,984,789.75 in the same period last year[5] - Net profit attributable to shareholders decreased by 6.26% to CNY 68,944,329.58 from CNY 73,545,785.36 year-on-year[5] - The basic earnings per share decreased by 6.25% to CNY 0.15 from CNY 0.16 in the same period last year[5] - Net profit for the current period is 71,819,841.03, a decrease from 77,063,631.44 in the previous period, representing a decline of approximately 6.4%[22] - Operating profit decreased to 66,635,725.52 from 81,839,703.32, reflecting a decline of about 18.5%[22] - Total comprehensive income for the current period is 73,738,444.90, compared to 76,468,281.95 in the previous period, showing a decrease of approximately 3.4%[23] Cash Flow and Investments - The net cash flow from operating activities improved significantly, reaching CNY 46,307,110.74, a 121.07% increase from a negative cash flow of CNY -219,812,985.90 in the previous year[5] - Cash flow from operating activities generated a net amount of 46,307,110.74, a significant improvement from a negative cash flow of -219,812,985.90 in the previous period[25] - Investment activities resulted in a net cash outflow of -151,482,935.17, compared to a net inflow of 282,526,389.73 in the previous period[25] - Financing activities generated a net cash outflow of -297,711,698.90, worsening from -191,640,471.57 in the previous period[25] - The company recorded a 3473.67% increase in cash paid for investments, totaling CNY 155,675,050.86, primarily due to the purchase of large-denomination certificates of deposit[9] Assets and Liabilities - The total assets at the end of the reporting period were CNY 12,599,586,218.67, down 1.48% from CNY 12,789,367,683.63 at the end of the previous year[5] - The company’s total assets decreased to ¥12,599,586,218.67 from ¥12,789,367,683.63, a decline of about 1.5%[19] - Total liabilities decreased to ¥6,530,976,658.02 from ¥7,987,952,047.24, reflecting a reduction of approximately 18.2%[19] - The company’s long-term investments decreased slightly to ¥5,273,845.22 from ¥5,496,775.40, a decrease of about 4.1%[18] Shareholder Information - The total number of common shareholders at the end of the reporting period is 83,419[11] - The largest shareholder, Xiamen Kehua Weiye Co., Ltd., holds 18.15% of shares, totaling 92,445,842 shares[11] - The second-largest shareholder, Chen Chenghui, holds 15.46% of shares, totaling 78,723,124 shares[11] - The top 10 shareholders do not have any significant changes in their shareholding status compared to the previous period[12] - The company has completed the first phase of its employee stock ownership plan, with 2,083,200 shares purchased, representing 0.45% of the total share capital[14] - The employee stock ownership plan has been terminated after all shares were sold, accounting for 0.41% of the current total share capital[15] - The company’s major shareholders do not have any related party relationships or act in concert with other top shareholders[12] Operational Metrics - The company reported total operating revenue of ¥1,216,323,160.43 for the current period, an increase of approximately 2.8% compared to ¥1,183,984,789.75 in the previous period[21] - Total operating costs for the current period were ¥1,160,927,263.07, up from ¥1,109,496,369.72 in the previous period, reflecting an increase of about 4.6%[21] - The company experienced a 58.32% increase in tax and additional charges, amounting to CNY 3,033,625.30, mainly due to an increase in value-added tax[9] - Research and development expenses increased to 111,030,020.27 from 94,927,193.45, marking a rise of approximately 16.9%[22] Equity and Returns - Shareholders' equity attributable to the parent company increased by 27.05% to CNY 5,937,556,650.18 from CNY 4,673,238,237.37[5] - The company’s equity increased to ¥6,068,609,560.65 from ¥4,801,415,636.39, an increase of about 26.4%[19] - The weighted average return on equity was 1.46%, down from 1.66% year-on-year[5] - Basic and diluted earnings per share remained at 0.15, unchanged from the previous period[23] Legal Matters - The company faced a lawsuit regarding property preservation damage liability, which was ultimately dismissed by the court[13] - The company has no preferred shareholders or significant changes in preferred shareholder status[13] - The company’s stock has been actively traded, with a notable participation in margin trading by shareholder Wu Youxiang[12]

Financial Performance - The company's operating revenue for 2024 was approximately ¥7.76 billion, a decrease of 4.71% compared to ¥8.14 billion in 2023[15]. - The net profit attributable to shareholders for 2024 was approximately ¥315.17 million, down 37.90% from ¥507.55 million in 2023[15]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was approximately ¥284.54 million, a decline of 38.55% from ¥463.02 million in 2023[15]. - The basic earnings per share for 2024 was ¥0.68, a decrease of 38.18% compared to ¥1.10 in 2023[15]. - The total revenue for 2024 was approximately ¥7.76 billion, a decrease of 4.71% compared to ¥8.14 billion in 2023[73]. - The company's domestic revenue was approximately ¥7.03 billion, making up 90.65% of total revenue, while international revenue fell by 25.79% to approximately ¥725 million[73]. - The revenue from the new energy sector decreased by 15.98% to approximately ¥3.61 billion, representing 46.51% of total revenue[73]. - The total operating revenue for Q3 2024 was approximately CNY 1.66 billion, with a significant drop in net profit attributable to shareholders at CNY 12.44 million[20]. - The company reported a significant decrease in net cash flow from financing activities, down 2,969.43% to -¥361.29 million[91]. Assets and Liabilities - The total assets at the end of 2024 were approximately ¥12.79 billion, an increase of 7.77% from ¥11.87 billion at the end of 2023[15]. - The net assets attributable to shareholders at the end of 2024 were approximately ¥4.67 billion, up 6.17% from ¥4.40 billion at the end of 2023[15]. - The total amount of funds raised in 2023 was 149,206.8 million, with a net amount of 148,066.32 million, and 3,265.19 million has been used, resulting in a usage ratio of 34.99%[97]. - The total amount of committed investment projects is 149,206.8 million, with 148,066.32 million already invested, resulting in a progress rate of 51.8%[102]. Cash Flow - The cash flow from operating activities for 2024 was approximately ¥1.51 billion, an increase of 7.84% compared to ¥1.40 billion in 2023[15]. - The company reported a net cash flow from operating activities increased by 7.84% to approximately ¥1.51 billion in 2024[91]. - Cash inflow from investment activities rose by 68.25% to ¥489.59 million, primarily due to the recovery of previous financial products[88]. Research and Development - The company's R&D expenses increased by 7.79% year-on-year, totaling approximately ¥505.38 million[84]. - R&D investment increased by 4.25% to approximately ¥468.06 million in 2024, representing 6.03% of operating revenue, up from 5.52% in 2023[86]. - The company is developing an industrial IGBT rectifier modular product aimed at the chemical industry, which is expected to enhance sales and market share in high-end products[85]. - The company has completed the development of a 300kW dual-pump liquid cooling CDU, which aims to reduce the overall PUE of data centers to below 1.2[85]. Market Trends and Opportunities - The Chinese intelligent computing center market investment scale reached CNY 87.9 billion in 2023, with a projected CAGR of 27% from 2023 to 2028[26]. - The UPS market in China is expected to grow to CNY 127.3 billion by 2026, reflecting a year-on-year growth of 10.75% in 2024[30]. - The energy storage market in China is set to reach 44.6 GW/111.6 GWh of new grid-connected projects in 2024, representing a growth of 115% compared to 2023[36]. - The penetration rate of liquid cooling technology in data centers is expected to grow by over 30% annually from 2023 to 2026, driven by new regulatory requirements[25]. Strategic Initiatives - The company plans to distribute a cash dividend of ¥1 per 10 shares to all shareholders, based on a total of 515,414,041 shares[3]. - The company has acknowledged potential risks in its future development and has outlined corresponding countermeasures in its management discussion[3]. - The company is actively expanding its business in autonomous driving and AI medical fields, collaborating with partners to explore new applications[50]. - The company is committed to expanding its international market presence, focusing on Europe, Southeast Asia, and Belt and Road Initiative countries, with plans to establish an overseas sales management department[118]. Governance and Compliance - The governance structure is compliant with regulatory requirements, ensuring fair treatment of all shareholders[131]. - The company maintains a "five independence" principle, ensuring independence in business, assets, personnel, institutions, and finance from the controlling shareholder[135]. - The company has established a complete and independent financial accounting system and management system, ensuring financial independence[136]. - The company has a transparent performance evaluation and incentive mechanism for senior management, ensuring compliance with legal regulations[134]. Social Responsibility - The company donated a total of 1.7852 million yuan for social responsibility initiatives, including 1.06 million yuan in scholarships for 145 outstanding students and 200,000 yuan for 23 excellent teachers[182]. - The company actively engages in environmental protection, organizing tree planting activities and implementing effective pollution control measures[181]. - The company has supported over 5,000 rural students through its scholarship program since 1996, demonstrating its commitment to education and community development[183]. Employee Management - The company has a total of 7,404 employees as of the latest report[140]. - The employee training program emphasizes skill enhancement and includes both internal and external resources for high-quality training[165]. - The company has implemented a differentiated incentive mechanism to attract and retain talent, ensuring competitive compensation[164]. - The company has a cash dividend distribution plan for 2024-2026, with a cash dividend of 1.2 RMB per 10 shares for the 2023 fiscal year, totaling 51,541,404.10 RMB[168].

中金研究 数据中心板块从24年年末开始估值提振明显，在25年2月后又经历了大幅回调，本篇报告我们对数据中心板块近期估值表现进行复盘，并对近期投资人 较为关心的问题进行梳理和分析。 点击小程序查看报告原文 Abstract 摘要 数据中心公司提供服务器托管服务，当前在手订单有望交付支撑未来1-2年业绩增速逐年提升，新签价格尚未提升，但项目回报率有望先于价格改善。 1）数据中心企业以服务器托管为核心，通过提供场地、电力、制冷及网络服务收取租金，通常不参与算力租赁与服务器采购；2）因采用租金模式，数据 中心业绩波动或小于下游资本开支波动，但受益于互联网厂商资本开支提升，具备竞争力数据中心公司AI相关订单明显增长，在手订单能够支撑未来1-2 年业绩增长且业绩增速上呈现25年高于24年、26年高于25年；3）2021-2023年行业供过于求致新签订单租金下行，当前数据中心公司议价权有所提升，我 们认为签约周期延长、优惠期缩短与上架加速有望使得项目IRR先行于行业新签价格提升出现。 受旺盛订单拉动，数据中心资本开支进入上行通道，多元融资渠道支撑资本开支扩张，REITs项目有助于资金回笼提升经营稳定性。 1）数据中心公司需 ...

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。 特别提示： 1、"科数转债"赎回日：2025 年 4 月 16 日 | 证券代码：002335 | 证券简称：科华数据 | 公告编号：2025-041 | | --- | --- | --- | | 债券代码：127091 | 债券简称：科数转债 | | 科华数据股份有限公司 关于"科数转债"摘牌的公告 2、"科数转债"摘牌日：2025 年 4 月 24 日 3、"科数转债"摘牌原因：存续期内可转债公司债券全部赎回 一、可转换公司债券发行上市情况 （一）可转债发行情况 经中国证券监督管理委员会《关于同意科华数据股份有限公司向不特定对象 发行可转换公司债券注册的批复》（证监许可〔2023〕1681 号）同意注册，科 华数据股份有限公司（以下简称"公司"）于 2023 年 8 月 23 日向不特定对 象发行可转换公司债券 14,920,680 张，每张面值人民币 100 元，募集资金总额 人民币 149,206.80 万元，期限 6 年。 （二）可转债上市情况 经深圳证券交易所（以下简称"深交所"）同意， ...

| 证券代码：002335 | 证券简称：科华数据 | 公告编号：2025-040 | | --- | --- | --- | | 债券代码：127091 | 债券简称：科数转债 | | 科华数据股份有限公司 关于"科数转债"赎回结果的公告 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、可转换公司债券发行上市情况 （一）可转债发行情况 经中国证券监督管理委员会《关于同意科华数据股份有限公司向不特定对象 发行可转换公司债券注册的批复》（证监许可〔2023〕1681 号）同意注册，科 华数据股份有限公司（以下简称"公司"）于 2023 年 8 月 23 日向不特定对 象发行可转换公司债券 14,920,680 张，每张面值人民币 100 元，募集资金总额 人民币 149,206.80 万元，期限 6 年。 （二）可转债上市情况 经深圳证券交易所（以下简称"深交所"）同意，公司 149,206.80 万元可 转换公司债券于 2023 年 9 月 12 日起在深交所挂牌交易，债券简称"科数转 债"，债券代码"127091"。 （三）可转债转股期限 根 ...