Core Viewpoint - The report highlights the significant growth and performance of Runze Technology in the intelligent computing industry, showcasing its financial results and strategic advancements in technology and operations [1][2]. Financial Performance - In the first half of 2025, Runze Technology achieved an operating income of 2.496 billion yuan and a net profit attributable to shareholders of 880 million yuan [1]. - The company plans to distribute a cash dividend of 3.995 yuan per 10 shares (including tax) to all shareholders [1]. Industry Growth and Company Strategy - The intelligent computing industry continues to experience explosive growth, with expanding market size and technological iterations creating a strong resonance effect [1]. - Runze Technology has actively captured industry opportunities through various dimensions, including delivery and operations, business structure adjustments, liquid cooling technology upgrades, and asset securitization [1][2]. Delivery and Operations - The company has ensured efficient delivery schedules, completing large-scale deliveries and significantly shortening the overall delivery and commissioning cycle [1]. - In the first half of 2025, Runze Technology added one computing power center in each of its Langfang, Pinghu, Foshan, and Huizhou parks, totaling approximately 220 MW of new computing power centers delivered [1]. - As of the end of the reporting period, the company has delivered a total of 18 computing power centers, with a commissioning rate of over 90% for mature centers [1]. Business Structure Adjustment - The AIDC business structure has undergone a key upgrade, shifting focus from "customer expansion" to "high-quality operations," transitioning revenue from one-time inflows to stable profitability and long-term cooperation [2]. - This strategic shift provides more support for profitability [2]. Liquid Cooling Technology - With rapid advancements in chip and cabinet power, liquid cooling has transitioned from an optional solution to a necessary one for supporting high-power computing [2]. - Runze Technology has expanded the scale of liquid-cooled cabinets and improved the operational stability of liquid-cooled computing power centers [2]. - The company has applied its self-developed liquid cooling technology across multiple parks nationwide, creating a multi-faceted infrastructure design for high-complexity, high-computation demand applications [2]. Asset Securitization - On August 8, 2025, Runze Technology's Southern Data Center REIT was officially listed on the Shenzhen Stock Exchange, marking a significant milestone in asset securitization [2]. - This achievement activates quality existing assets and optimizes the capital structure, representing an innovative practice in the company's business architecture [2]. Future Outlook - Runze Technology aims to leverage its deep accumulation and innovative capabilities in the intelligent computing field to explore market potential and continuously strengthen its leading position in the industry [2].

Financial Performance - In the first half of 2025, the company achieved operating revenue of 2.496 billion yuan, a year-on-year increase of 15.31% [1] - The net profit attributable to shareholders was 882 million yuan, a year-on-year decrease of 8.73% [1] - The net cash flow from operating activities reached 2.262 billion yuan, a significant year-on-year increase of 1501.56% [1] Business Development - In the IDC business, the company efficiently completed large-scale deliveries and significantly shortened the overall delivery cycle [1] - The company added one data center in each of its four parks, totaling approximately 220 MW of new capacity, achieving a historically high delivery scale [1] - The company has delivered a total of 18 data centers, with a mature data center deployment rate exceeding 90% [1] Strategic Initiatives - In the AIDC business, the company implemented a "traffic diversion strategy" to attract top AI clients, transitioning from customer expansion to high-quality operations [2] - The company successfully delivered a new generation of 100 MW intelligent computing center in the Yangtze River Delta region, with record-high deployment speed [2] - The listing of the Southern Runze Technology Data Center REIT on the Shenzhen Stock Exchange marks a significant breakthrough in asset securitization for the company [2] Financing Activities - In the first half of 2025, the company utilized interbank market financing tools, issuing a super short-term financing bond of 1 billion yuan at the lowest interest rate for private enterprises under similar conditions [3] - The company also issued the first technology innovation bond for private enterprises in Hebei Province, with a scale of 1 billion yuan, again achieving the lowest interest rate for similar conditions [3] - The company plans to distribute a mid-term dividend of 3.995 yuan per 10 shares, totaling an expected cash dividend of 652 million yuan [3] Company Overview - Runze Technology is a leading technology company in the comprehensive computing center sector, focusing on building a robust foundation for China's digital economy [4] - The company emphasizes stability, safety, reliability, and sustainability in its services, investing heavily in intelligent computing and infrastructure [4] - Runze Technology aims to create advanced, well-structured, and green computing infrastructure clusters, establishing a strong reputation and brand influence in the industry [4]

Group 1 - The ChiNext Index rose over 1.5% on August 29, with the lithium battery sector continuing its strong performance, while sectors like GPU, servers, IDC computing leasing, and CPO optical modules faced significant declines [1] - The recent hot topic, the Sci-Tech Innovation 50 ETF (159783), saw a drop of over 0.5%, with mixed performance among its constituent stocks, including significant declines in companies like Cambricon, Shanghai Semei, Loongson Technology, and others, while companies like Siengda Intelligent, CATL, and others saw notable gains [1] - Huatai Securities indicated that A-shares remain relatively undervalued globally, suggesting potential for significant appreciation based on metrics like market capitalization to GDP ratio [1] Group 2 - Huabao Securities reported that current market sentiment remains high, with an influx of new capital continuing, supporting the "deposit migration" logic, and the profit-making effect is expanding [2] - It is expected that A-shares will continue a trend of oscillating upward unless there is policy intervention, with a recommendation to maintain a balanced allocation focusing on mid to large-cap and leading companies [2] - The report emphasizes a positive outlook on technology growth styles amidst increasing economic uncertainty, suggesting attention to sectors like technology, new energy, cyclical (including military and rare earth), pharmaceuticals, and high-dividend stocks for rotation and rebound opportunities [2]

智通财经APP讯，润泽科技(300442.SZ)发布2025年半年度报告，该公司营业收入为24.96亿元，同比增 长15.31%。归属于上市公司股东的净利润为8.82亿元，同比减少8.73%。归属于上市公司股东的扣除非 经常性损益的净利润为8.78亿元，同比减少7.55%。基本每股收益为0.51元。此外，拟向全体股东每10 股派发现金红利3.995元(含税)。 ...

Core Insights - Runze Technology (300442.SZ) reported a revenue of 2,496.22 million yuan for the first half of the year, representing a year-on-year increase of 15.31% and a quarter-on-quarter increase of 8.36% [1] - The net profit attributable to shareholders was 882.12 million yuan, showing a year-on-year decrease of 8.73% but a quarter-on-quarter increase of 5.06% [1] - As of the end of the reporting period, the company's total assets amounted to 36,677.03 million yuan, an increase of 17.15% compared to the end of the previous year [1] - The equity attributable to the parent company was 1,067.52 million yuan, up 7.12% from the end of the previous year [1] - The asset-liability ratio stood at 64.07%, indicating a healthy financial status [1] - The company declared a cash dividend of 3.995 yuan for every 10 shares to all shareholders [1]

Core Viewpoint - The company, Runze Technology, emphasizes shareholder returns through a stable dividend plan in its 2025 semi-annual report, reflecting its confidence in long-term operations and aligning with market preferences for high-dividend, stable-return stocks [1] Financial Performance - Runze Technology plans to distribute a cash dividend of 3.995 yuan (including tax) for every 10 shares, with a total expected payout of 652 million yuan (including tax) [1] - The company reported a revenue of 2.496 billion yuan and a net profit attributable to shareholders of 882 million yuan for the first half of 2025 [1] - Operating cash flow significantly improved, reaching a net cash flow from operating activities of 2.262 billion yuan, a year-on-year increase of 1501.56%, providing strong cash support for the dividend plan [1] Policy Alignment - The dividend plan aligns with recent regulatory guidance encouraging listed companies to enhance shareholder returns, as highlighted by the China Securities Regulatory Commission's chairman [1] - The joint announcement by seven ministries on August 5 supports profitable and dividend-paying tech enterprises, positioning Runze Technology favorably for future financing and resource acquisition [2] Capital Operations - Runze Technology successfully listed its Southern Runze Technology Data Center REIT on August 8, raising 4.5 billion yuan, which helps optimize financial metrics and reserves for future profit growth and dividends [2] - The company delivered four new computing power centers in various locations, totaling approximately 220 MW, with a high on-shelf rate of over 90% for mature centers [2] Energy and Infrastructure - The company has received approvals for new substations across its various parks, enhancing its power supply stability, which is crucial for long-term development [3] - The increase in energy consumption and power stability supports the company's growth in computing power delivery, further enhancing its long-term dividend capacity and investment value [3]

证券代码：300442 证券简称：润泽科技 公告编号：2025-054 润泽智算科技集团股份有限公司 关于拟变更注册资本及修改《公司章程》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。 润泽智算科技集团股份有限公司（以下简称"公司"）于 2025 年 8 月 27 日召开第五届董事会第二次会议，审议通过了《关于拟变更注册资本及修改<公 司章程>的议案》。现将相关事项公告如下： 一、公司注册资本变更情况 公司分别于 2025 年 4 月 22 日召开第四届董事会第二十九次会议及 2025 年 5 月 20 日召开 2024 年年度股东大会，审议通过了《关于重大资产重组业绩承诺 实现情况、业绩承诺期满减值测试结果及业绩补偿方案暨拟回购注销对应补偿股 份的议案》，并授权公司董事会办理业绩补偿实施的相关事项。具体内容详见公 司分别于 2025 年 4 月 24 日、2025 年 5 月 20 日在中国证监会指定的创业板信息 披露网站巨潮资讯网（http://www.cninfo.com.cn）披露的《第四届董事会第二十 九次会议决议公告》（公告编号：2025- ...

润泽智算科技集团股份有限公司 2025 年半年度非经营性资金占用及其他关联资金往来情况汇总表 编制单位：润泽智算科技集团股份有限公司 单位：万元 | | | 占用方与上市 | | 年 2025 | 2025 年半 | 2025 年半 | 2025 年半 | 年半 2025 | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 非经营性资金占用 | 资金占用方名称 | 公司的关联关 | 上市公司核算 | 初占用资 | 年度占用累 | 年度占用 | 年度偿还 | 年度末占用 | 占用形成原因 | 占用性质 | | | | | 的会计科目 | | 计发生金额 | 资金的利 | 累计发生 | | | | | | | 系 | | 金余额 | (不含利息) | 息(如有) | 金额 | 资金余额 | | | | 控股股东、实际控制人及其 附属企业 | | | | | | | | - - | | | | | | | | | | | | - | | | | 小计 | — | — | — | - | - | - | - | - | ...

证券代码：300442 证券简称：润泽科技 公告编号：2025-051 润泽智算科技集团股份有限公司 第五届董事会第二次会议决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整， 没有虚假记载、误导性陈述或重大遗漏。 一、董事会会议召开情况 2025 年 8 月 27 日，润泽智算科技集团股份有限公司（简称"公司"）第五 届董事会通过现场和通讯相结合的方式召开了第二次会议，根据《润泽智算科技 集团股份有限公司章程》（简称"《公司章程》"）的规定，本次董事会会议通 知已于 2025 年 8 月 17 日发出。 本次会议由董事长周超男主持。会议召集和召开程序符合《中华人民共和国 公司法》（简称"《公司法》"）等法律、行政法规和《公司章程》的规定。 二、董事会会议审议情况 （一） 审议通过了《关于<2025 年半年度报告>及其摘要的议案》 公司董事会认真审阅了《润泽智算科技集团股份有限公司 2025 年半年度报 告》（简称"《2025 年半年度报告》"）全文及其摘要，董事会认为公司《2025 年半年度报告》全文及其摘要的编制程序符合法律、行政法规、中国证券监督管 理委员会（简称"中国证监会"）和深圳证 ...

证券代码：300442 证券简称：润泽科技 公告编号：2025-055 润泽智算科技集团股份有限公司 关于 2025 年半年度利润分配预案的公告 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。 一、审议程序 2025 年 8 月 27 日，润泽智算科技集团股份有限公司（简称"公司"）召开 第五届董事会第二次会议，审议通过了《关于公司 2025 年半年度利润分配预案 的议案》。根据公司 2024 年年度股东大会的授权，本议案无需提交股东会审议。 二、利润分配预案的基本情况 根据公司 2025 年半年度财务报告，截至 2025 年 6 月 30 日，公司 2025 年半 年度合并报表中可供分配的利润为 3,322,825,584.64 元，母公司报表中可供分配 的利润为 707,065,765.47 元。 考虑到公司未来可持续发展，同时兼顾对投资者的稳定、合理回报，结合公 司当前实际经营、现金流状况，根据《中华人民共和国公司法》《上市公司监管 指引第 3 号——上市公司现金分红》（简称"《现金分红新规》"）、《深圳证 券交易所上市公司自律监管指引第 2 号——创业 ...