Core Viewpoint - The report highlights the investment strategies and portfolio adjustments of Morgan Stanley fund manager Lei Zhiyong, focusing on the digital economy sector, particularly in intelligent computing infrastructure and AI applications [2][10]. Group 1: Fund Performance and Management - Lei Zhiyong's managed fund size increased by over 50% in Q1 2025, reaching a total management scale of 55.31 billion yuan, up from 36.09 billion yuan in the previous quarter [5]. - The fund "Damo Digital Economy Mixed" saw a net subscription of 763 million units during Q1, bringing its latest scale to 52.33 billion yuan, a nearly 55% increase from the end of last year [5]. - The fund maintained a high stock position, with stock holdings exceeding 90%, and made slight increases compared to the previous quarter [6]. Group 2: Investment Focus and Adjustments - The top ten holdings of the Damo Digital Economy Mixed fund remained stable, with structural adjustments made in individual stocks. New additions included KOTAI Power, Lens Technology, and Shenghong Technology, while stocks like Zhongji Xuchuang and Huadian were removed [7]. - The fund continues to focus on the digital economy sector, with a positive outlook on intelligent computing infrastructure and AI applications for future investment opportunities [9][10]. Group 3: Market Environment and Challenges - The market environment in 2025 has not been favorable for Lei Zhiyong, with only one of the three managed funds, Damo Wan Zhong Innovation, showing a profit, while the others reported negative returns [10]. - The strategy of focusing on the technology sector reflects Lei Zhiyong's long-term belief in AI, but the current market performance indicates that this approach may not yield leading returns compared to diversified investments [10].

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、误导性陈述或者重大遗漏。 证券代码：300153 证券简称：科泰电源 公告编号：2025-025 上海科泰电源股份有限公司 关于2024年年度股东大会增加临时提案暨 股东大会补充通知的公告 上海科泰电源股份有限公司（以下简称"公司"）第六届董事会 第九次会议审议通过了《关于召开 2024 年年度股东大会的议案》，决 定于 2025 年 5 月 19 日召开公司 2024 年年度股东大会，具体内容详 见公司于 2025 年 4 月 21 日披露的《关于召开 2024 年年度股东大会 的通知公告》（公告编号：2025-019）。 2025 年 4 月 25 日，公司召开第六届董事会第十次会议，审议通 过了《关于修订<关联交易决策制度>的议案》和《关于增加经营范围 及修订<公司章程>的议案》，上述议案尚需提交股东大会审议，具体 内容详见公司在中国证监会指定信息披露网站巨潮资讯网上披露的 相关公告文件。 同日，公司董事会收到股东科泰控股有限公司书面提交的《关于 提请上海科泰电源股份有限公司 2024 年年度股东大会增加临时提案 的函》，提议将《 ...

上海科泰电源股份有限公司 第六届监事会第十次会议决议公告 本公司及监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、误导性陈述或者重大遗漏。 上海科泰电源股份有限公司（以下称"公司"）于 2025 年 4 月 25 日在公司六楼大会议室以现场会议方式召开了第六届监事会第十 次会议，会议通知于 2025 年 4 月 24 日以电子邮件形式送达了全体监 事，并提请对本次会议提前通知时限进行豁免，会议应参加监事 3 人， 实际参加监事 3 人。本次监事会的召集和召开符合《中华人民共和国 公司法》和《公司章程》的规定。会议由公司监事会主席杨少慰先生 主持，经全体监事表决，形成决议如下： 一、审议通过《关于 2025 年第一季度报告的议案》 根据中国证监会、深圳证券交易所关于季度报告信息披露的要 求，公司编制完成了《2025 年第一季度报告》。 此项议案 3 票同意，0 票反对，0 票弃权获得通过。 经审核，监事会认为董事会编制和审核《2025 年第一季度报告》 的程序符合法律、行政法规和中国证券监督管理委员会的规定，报告 内容真实、准确、完整地反映了上市公司的实际情况，不存在任何虚 假记载、误导性陈述 ...

证券代码：300153 证券简称：科泰电源 公告编号：2025-021 上海科泰电源股份有限公司 第六届董事会第十次会议决议公告 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、误导性陈述或者重大遗漏。 上海科泰电源股份有限公司（以下称"公司"）第六届董事会第 十次会议于 2025 年 4 月 25 日以现场会议与网络会议相结合的方式召 开，会议通知于 2025 年 4 月 24 日以电子邮件形式送达了全体董事， 并提请对本次会议提前通知时限进行豁免，会议应参加董事 8 人，实 际参加董事 8 人，其中独立董事 3 人。本次董事会的召集和召开符合 《中华人民共和国公司法》和《公司章程》的规定。会议由公司董事 长谢松峰先生主持，经全体董事表决，形成决议如下： 一、审议通过《关于 2025 年第一季度报告的议案》 根据中国证监会、深圳证券交易所关于季度报告信息披露的要 求，公司编制完成了《2025 年第一季度报告》。 本议案已提前经公司董事会审计委员会审议通过。 此项议案 8 票同意，0 票反对，0 票弃权获得通过。 本议案具体内容详见公司于同日在中国证监会指定信息披露网 站巨潮资讯网上 ...

上海科泰电源股份有限公司章程 目 录 第一章 总则 第二章 经营宗旨和范围 第三章 股份 第一节 股东 第二节 股东大会的一般规定 第三节 股东大会的召集 第四节 股东大会的提案与通知 第五节 股东大会的召开 第六节 股东大会的表决和决议 第四章 股东和股东大会 第五章 董事会 第六章 总裁及其他高级管理人员 第七章 监事会 第八章 财务会计制度、利润分配和审计 第九章 通知 第十章 合并、分立、增资、减资、解散和清算 第一节 合并、分立、增资和减资 1 / 43 第一节 股份发行 第二节 股份增减和回购 第三节 股份转让 第一节 董事 第二节 董事会 第十二章 附则 2 / 43 第一节 监事 第二节 监事会 第一节 财务会计制度 第二节 内部审计 第三节 会计师事务所的聘任 第二节 解散和清算 第十一章 修改章程 第一章 总则 第一条 为维护公司、股东和债权人的合法权益，规范公司的组织和行为， 根据《中华人民共和国公司法》（以下简称"《公司法》"）、《中华人民共和国证券 法》（以下简称"《证券法》"）和其他有关规定，制订本章程。 第二条 上海科泰电源股份有限公司系依照《公司法》和其他有关规定成立 的股份有 ...

上海科泰电源股份有限公司 关联交易决策制度 （2025 年 4 月） 1 关联交易决策制度 第一章 总则 第一条 为保证上海科泰电源股份有限公司（以下简称"公司"）与关联方之 间的关联交易符合公平、公正、公开的原则，确保公司的关联交易行为不损害公司 和非关联股东的合法权益，根据《中华人民共和国公司法》《中华人民共和国证券 法》《深圳证券交易所创业板股票上市规则》（以下简称"《上市规则》"）等有 关法律、法规、规范性文件及《上海科泰电源股份有限公司章程》（以下简称"《公 司章程》"）的有关规定，制定本制度。 第二条 公司与关联方之间的关联交易行为除遵守有关法律、法规、规范性文 件和《公司章程》的规定外，还需遵守本制度的规定。 第二章 关联方和关联关系 第三条 公司关联方包括关联法人和关联自然人。 第四条 具有以下情形之一的法人，为公司的关联法人： （一）直接或者间接控制公司的法人或者其他组织； （二）由前项所述法人直接或者间接控制的除公司及其控股子公司以外的法人 或者其他组织； （三）由本制度第五条所列公司的关联自然人直接或者间接控制的，或者担任 董事（独立董事除外）、高级管理人员的，除公司及其控股子公司以外的 ...

Financial Performance - The company's revenue for Q1 2025 was ¥362,856,144.78, representing a 36.82% increase compared to ¥265,208,030.98 in the same period last year[4] - Net profit attributable to shareholders was ¥13,857,170.53, up 55.94% from ¥8,886,054.24 year-on-year[4] - Basic earnings per share rose to ¥0.0433, reflecting a 55.76% increase from ¥0.0278 in the same period last year[4] - The company reported a significant decrease in financial expenses, which amounted to -¥1,586,245.36, down 58.65% from -¥999,837.46 in the previous year[9] - Net profit for the current period was ¥13,575,524.30, representing a 60.5% increase from ¥8,432,430.07 in the previous period[23] Cash Flow - The net cash flow from operating activities reached ¥12,217,471.27, a significant increase of 611.55% compared to ¥1,717,023.06 in the previous year[4] - Cash flow from operating activities generated a net amount of ¥12,217,471.27, a substantial increase from ¥1,717,023.06 in the last period[25] - The net cash flow from financing activities was negative at -¥44,372,965.85, compared to a positive flow of ¥5,570,654.64 in the prior period[26] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,933,261,974.13, a 3.84% increase from ¥1,861,845,826.11 at the end of the previous year[4] - Current assets rose from CNY 1,423,563,097.35 to CNY 1,506,310,543.70, an increase of about 5.81%[18] - Total liabilities rose from CNY 983,557,650.86 to CNY 1,041,249,942.45, indicating an increase of about 5.87%[19] - The company's cash and cash equivalents decreased from CNY 515,216,065.06 to CNY 480,520,464.46, a decline of approximately 6.7%[18] - The total equity remained stable at CNY 320,000,000.00, with no change reported[19] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 56,544[13] - The company has a total of 1,669,882 shares under lock-up, which are subject to gradual release over time[16] Income and Expenses - Total operating revenue for the current period reached ¥362,856,144.78, a significant increase of 36.8% compared to ¥265,208,030.98 in the previous period[22] - Total operating costs amounted to ¥339,099,837.47, up 33.8% from ¥253,366,203.19 in the prior period[22] - Research and development expenses increased to ¥12,030,161.51, up from ¥11,025,087.73, indicating a focus on innovation[22] Other Income - The company reported a 64.98% increase in other income, amounting to ¥2,269,881.80 compared to ¥1,375,848.56 in the previous year[9] - Investment income surged to ¥1,318,863.33, a 774.92% increase from a loss of ¥195,410.46 in the same period last year[9] - Other comprehensive income after tax for the current period was ¥148,332.13, recovering from a loss of -¥313,672.24 in the previous period[23] Accounting and Reporting - The first quarter report of Shanghai KOTAI Power Co., Ltd. is unaudited[27] - The new accounting standards will be implemented starting from 2025[27] - The financial statement items related to the first year of the new accounting standards will be adjusted[27] - The board of directors announced the first quarter report on April 25, 2025[27]

科泰电源(300153.SZ)发布2025年第一季度报告，实现 营业收入3.63亿元，同比增长36.82%；归属于上 市公司股东的 净利润为1385.72万元，同比增长55.94%。报告期内，数据中心需求情况良好，公司销售 订单执行情况良好，公司经营业绩稳步提升。 ...

Investment Rating - The report suggests a positive investment outlook for the diesel generator set industry, particularly for domestic OEM manufacturers and key players in the supply chain [2][5]. Core Insights - The domestic AI model Deepseek is accelerating the application of AI in China, significantly increasing the demand for computing power, which in turn benefits the diesel generator set market as it is a core component of data center infrastructure [3][5]. - Diesel generator sets are essential backup power sources for data centers, which are experiencing substantial capital expenditure growth due to rising computing power demands [3][5]. - Domestic brands are poised to benefit from the challenges faced by foreign manufacturers in expanding production capacity, leading to opportunities for volume and price increases for local suppliers [3][5]. Summary by Sections 1. Deepseek Accelerates Domestic AI Application and Boosts Computing Power Demand - Deepseek demonstrates performance comparable to leading international AI models, enhancing the domestic AI application landscape and driving up computing power needs [6][14]. - Major tech companies like Tencent and Alibaba are significantly increasing their capital expenditures for computing infrastructure, with Tencent's capital expenditure reaching 768 billion yuan in 2024, a 221% year-on-year increase [14][15]. 2. Diesel Generator Sets as Core CAPEX for Data Centers - Diesel generator sets account for 23% of the supporting infrastructure costs in data centers, which are projected to grow from a market size of 4.57 billion yuan in 2023 to 13.16 billion yuan by 2028, reflecting a compound annual growth rate (CAGR) of 24% [3][31]. - The demand for high-capacity diesel generators is expected to rise significantly due to the increasing construction of AI-related data centers, which require robust power backup systems [24][26]. 3. Domestic Supply Chain Benefits from High Demand and Limited Foreign Expansion - The market for diesel engines in data centers is dominated by foreign brands, but domestic manufacturers are gaining market share due to supply chain challenges faced by foreign companies [3][47]. - Recent bidding results show that domestic brands like Weichai Heavy Machinery have significantly increased their market share, with Weichai's share rising to 40% in recent tenders [3][68]. 4. Investment Recommendations - The report recommends focusing on domestic OEM manufacturers such as Keta Power, Taihao Technology, and Sumida, as well as main engine manufacturers like Weichai Heavy Machinery and component manufacturers like Linde [3][5].

2025 年公司董事、高级管理人员 薪酬与绩效考核方案 一、目的 为合理确定公司董事、高级管理人员的收入水平及其支付方式， 结合公司实际经营情况，并参照行业、地区薪酬水平，根据公司章程 和有关规定，特制订本方案。 本方案适用于下列人员： （1）独立董事； （2）非独立董事：在公司工作并领取薪酬的非独立董事； （3）高级管理人员：董事会聘任的总裁、副总裁、财务总监、 董事会秘书。 三、薪酬构成和标准 1、独立董事 独立董事在公司领取固定津贴，津贴标准为每人每年税前 10 万 元人民币。 2、非独立董事及高级管理人员 非独立董事及高级管理人员的薪酬由基本薪酬和绩效薪酬两部 分构成。 二、适用范围 | 年度经营计划完成比例 | 个人 KPI 考核成绩 | 绩效系数 | | --- | --- | --- | | ＜70% | 80 分以下 | 0 | | | 81-90 分 | 0.4 | | | 91-100 分 | 0.5 | | ≥70%且≤100% | 70 分以下 | 0 | | | 71-85 分 | 0.9 | | | 86-100 分 | 1 | | ＞100% | 70 分以下 | 0 | | | ...