国元证券股份有限公司 关于润泽智算科技集团股份有限公司及各级子公司 使用暂时闲置自有资金进行委托理财的核查意见 公司在不影响日常经营资金使用和确保资金安全的前提下，为提高公司闲置 自有资金的使用效率，合理利用公司闲置自有资金，进一步提高整体收益，拟使 用闲置自有资金进行委托理财。 投资额度 公司及各级子公司拟使用不超过人民币 500,000 万元的自有资金进行委托理 财。 投资方式 公司及各级子公司拟使用暂时闲置自有资金在银行、证券公司、信托公司、 基金公司等金融机构投资安全性较高、流动性较好的理财产品或中国证券监督管 理委员会认可的其他投资品种等。 1 投资期限 自公司 2024 年第四次临时股东大会审议通过之日起 12 个月内有效。在上述 额度和期限内，资金可以循环滚动使用。 国元证券股份有限公司（简称"国元证券"或"独立财务顾问"）作为润泽 智算科技集团股份有限公司（简称"上市公司"或"公司"）重大资产置换、发 行股份购买资产并募集配套资金暨关联交易项目的独立财务顾问及持续督导机 构，根据《上市公司重大资产重组管理办法（2023 年修订）》《上市公司并购重组 财务顾问业务管理办法》的有关规定及《深圳证券 ...

关于 2025 年度提供财务资助的公告 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（简称"公司"）于 2024 年 12 月 11 日召 开第四届董事会第二十六次会议，审议通过了《关于 2025 年度提供财务资助的 议案》。根据《深圳证券交易所创业板股票上市规则》（简称"《上市规则》"） 以及《润泽智算科技集团股份有限公司章程》（简称"《公司章程》"）的相关 规定，本次公司 2025 年度提供财务资助事项无需提交公司股东大会审议。 现将相关事项公告如下： 一、财务资助事项概述 为支持公司控股子公司（含全资/控股子公司、孙公司，下同）的生产经营， 满足其生产经营的资金需求，公司基于自身及合并报表范围内相关控股子公司经 营情况判断，预计 2025 年度，公司部分控股子公司之间将存在财务资助的情形。 2025 年度公司控股子公司之间拟提供累计额度不超过 500,000.00 万元的财务资 助。 本次财务资助事项不会影响公司正常业务开展及资金使用，不属于《上市规 则》《深圳证券交易所上市公司自律监管指引第 2 号——创业板上市公司规范 ...

润泽智算科技集团股份有限公司 第四届董事会独立董事第五次专门会议决议 2024 年 12 月 11 日，润泽智算科技集团股份有限公司（以下简称"公司"） 以现场会议和通讯方式召开第四届董事会独立董事第五次专门会议。根据《上市 公司独立董事管理办法》的相关规定，经全体独立董事一致同意，本次会议豁免 提前三天发出会议通知。会议应到独立董事 3 人，实到 3 人，会议的召集、召开 和表决程序符合《中华人民共和国公司法》《中华人民共和国证券法》《上市公司 独立董事管理办法》《润泽智算科技集团股份有限公司章程》的有关规定。 本次会议由独立董事杜婕女士主持，经会议审议，形成决议如下： 1、《关于 2025 年度日常关联交易预计的议案》 公司预计 2025 年度与关联方发生的日常关联交易符合公司业务发展的实际 需求，交易定价合理、公允，严格遵循平等、自愿、等价、有偿的原则，符合中 国证券监督管理委员会、深圳证券交易所和公司关于关联交易管理的有关规定， 不存在损害公司及其他股东特别是中小股东利益的情形，不会影响公司的独立性， 也不会对公司持续经营能力产生影响。 因此，我们一致同意本次日常关联交易事项。 表决情况：同意 3 票 ...

证券代码：300442 证券简称：润泽科技 公告编号：2024-060 润泽智算科技集团股份有限公司 关于变更持续督导独立财务顾问主办人的公告 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（简称"公司"）于近日收到华泰联合证券 有限责任公司（简称"华泰证券"）出具的《关于变更持续督导独立财务顾问主 办人的函》。华泰证券为公司 2022 年实施的重大资产置换、发行股份购买润泽 科技发展有限公司 100%股权并募集配套资金暨关联交易项目（简称"本项目" 或"2022 年重大资产重组项目"）的独立财务顾问，华泰证券原委派的独立财 务顾问主办人为蒋坤杰先生、陈嘉先生、卞建光先生，持续督导期至 2025 年 12 月 31 日止。截至本公告披露之日，持续督导期尚未届满，华泰证券将继续履行 相关持续督导义务。 近日，因卞建光先生正常办理退休，不再担任本项目的独立财务顾问主办人。 本次独立财务顾问主办人减少后，华泰证券原委派的独立财务顾问主办人蒋坤杰 先生、陈嘉先生将继续担任本项目的独立财务顾问主办人，履行本项目的持续督 导职责。 2024 ...

预留部分授予登记完成公告 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。 重要内容提示： 本次第一类限制性股票预留部分上市日期：2024 年 11 月 22 日； 证券代码：300442 证券简称：润泽科技 公告编号：2024-059 润泽智算科技集团股份有限公司 关于 2023 年限制性股票激励计划第一类限制性股票 本次第一类限制性股票预留部分登记数量及占比：90.40 万股，占授予前 公司股本总额 172,057.7649 万股的 0.0525%； 本次第一类限制性股票预留部分授予价格：13.85 元/股； 本次第一类限制性股票预留部分授予登记人数：81 人； 本次第一类限制性股票预留部分的来源：公司向激励对象定向发行的本 公司人民币 A 股普通股股票。 润泽智算科技集团股份有限公司（简称"公司"）于 2024 年 9 月 18 日召开 第四届董事会第二十四次会议和第四届监事会第十八次会议，审议通过了《关于 向 2023 年限制性股票激励计划激励对象授予预留部分限制性股票的议案》。根 据《上市公司股权激励管理办法》（简称"《管理办法》"）、深圳证券交易所 ...

证券代码：300442 证券简称：润泽科技 公告编号：2024-058 1 润泽智算科技集团股份有限公司（简称"公司"）于 2024 年 10 月 10 日在 创业板指定的信息披露网站巨潮资讯网（http://www.cninfo.com.cn）披露了《大 股东减持股份预披露公告》（公告编号：2024-052），宁波枫文股权投资基金合 伙企业（有限合伙）（简称"宁波枫文"）、宁波梅山保税港区平盛安康股权投 资基金合伙企业（有限合伙）（简称"平盛安康"）、上海炜贯投资合伙企业（有 限合伙）（简称"上海炜贯"）、天津市平安消费科技投资合伙企业（有限合伙） （简称"平安消费"）计划自该公告披露日起 15 个交易日后的 3 个月内（即 2024 年 11 月 1 日至 2025 年 2 月 1 日）以集中竞价方式或大宗交易方式合计减持公司 不超过 4,100,000 股股份（不超过公司总股本的 0.24%）。 公司于近日收到宁波枫文、平盛安康、上海炜贯、平安消费（合称"减持主 体"）出具的《关于股份减持计划实施完成的告知函》，前述减持计划已于 2024 年 11 月 13 日实施完成，现将有关情况公告如下： 一、减持 ...

Investment Rating - The report maintains a "Buy" rating for Runze Technology (300442.SZ) with a target price of 33.01 CNY as of November 5, 2024 [1]. Core Insights - Runze Technology has demonstrated significant revenue growth driven by its AIDC business, achieving a revenue of 2.835 billion CNY in Q3 2024, a year-on-year increase of 184.0%. The net profit attributable to shareholders reached 547 million CNY, up 30.9% year-on-year [1]. - The company is expected to maintain high growth rates, with projected revenues of 6.030 billion CNY, 8.316 billion CNY, and 10.884 billion CNY for 2024, 2025, and 2026 respectively, reflecting year-on-year growth rates of 38.6%, 37.9%, and 30.9% [4]. - Runze Technology's R&D investment has increased significantly, with R&D expenses reaching 105 million CNY in the first three quarters of 2024, a 69.07% increase year-on-year, indicating a commitment to technological innovation and business expansion [1]. Financial Performance - In the first three quarters of 2024, the cumulative revenue reached 6.410 billion CNY, a 139.1% increase compared to the same period last year, with a net profit of 1.513 billion CNY, up 35.1% year-on-year [1]. - The company's operating costs increased to 4.440 billion CNY, a rise of 232.01% year-on-year, primarily due to the expansion of revenue scale [1]. - The projected net profits for 2024, 2025, and 2026 are 2.277 billion CNY, 3.122 billion CNY, and 4.193 billion CNY respectively, with corresponding year-on-year growth rates of 29.3%, 37.1%, and 34.3% [4]. Market Position and Strategy - Runze Technology is solidifying its market leadership in the IDC and AIDC sectors, with a national layout that includes seven intelligent computing infrastructure clusters and approximately 61 intelligent computing centers [1]. - The company has successfully delivered the industry's first pure liquid cooling intelligent computing center, enhancing the stability and environmental efficiency of its computing centers [1]. - The company is actively pursuing diversified financing strategies to support its robust expansion, including public REITs projects and interbank debt financing tools [1]. Valuation Metrics - The report provides a forecast for EPS of 1.32 CNY, 1.81 CNY, and 2.44 CNY for 2024, 2025, and 2026, with corresponding P/E ratios of 24.9, 18.2, and 13.5 [4].

Investment Rating - The investment rating for the company is "Buy" [1] Core Insights - The company has shown significant growth in the first three quarters of 2024, with operating revenue reaching 6.41 billion yuan, a year-over-year increase of 139.11%, and a net profit attributable to shareholders of 1.514 billion yuan, up 35.13% year-over-year [3][4] - The third quarter of 2024 continued to demonstrate high growth, with quarterly revenue of 2.835 billion yuan, a year-over-year increase of 184.03% and a quarter-over-quarter increase of 21.52% [4] - The company is progressing steadily with its AIDC construction, with the main structure of the Pinghu B District project completed [5] Financial Performance Summary - The company’s revenue and profit forecasts for 2024-2026 are as follows: - Revenue: 7.725 billion yuan in 2024, 9.593 billion yuan in 2025, and 11.647 billion yuan in 2026 - Net profit: 2.176 billion yuan in 2024, 3.052 billion yuan in 2025, and 3.806 billion yuan in 2026 [6][7] - The company’s gross margin for the first three quarters was 30.73%, while the net margin was 23.74% [3] - The company’s earnings per share (EPS) are projected to be 1.26 yuan in 2024, 1.77 yuan in 2025, and 2.21 yuan in 2026 [6][7] Market Context - The capital expenditure of major domestic cloud companies like Tencent, Baidu, and Alibaba has seen a significant increase, with a total of approximately 23 billion yuan in Q2 2024, a year-over-year growth of nearly 70% [5] - The capital expenditure of major overseas cloud companies such as Meta, Microsoft, Google, and Amazon reached approximately 53 billion USD in Q2 2024, with a year-over-year growth of around 60% [5]

Investment Rating - The report maintains a "Recommended" rating for the company with a target price of 40.31 CNY, compared to the current price of 32.62 CNY [1]. Core Insights - The company continues to experience significant revenue growth, with a reported revenue of 6.41 billion CNY for the first three quarters of 2024, representing a year-on-year increase of 139.11%. The net profit attributable to shareholders reached 1.514 billion CNY, up 35.13% year-on-year [1]. - The company is expanding its client base, particularly in the IDC business, and is issuing debt financing tools to optimize its financial structure. This is expected to support sustainable growth [1]. - The demand for AIDC services is strong, particularly in the Yangtze River Delta region, with several new data centers under construction and expected to be operational soon [1]. Financial Performance Summary - Total revenue for 2023 is projected at 4.351 billion CNY, with a year-on-year growth rate of 60.3%. For 2024, revenue is expected to reach 8.563 billion CNY, reflecting a growth rate of 96.8% [2]. - The net profit attributable to shareholders is forecasted to be 1.762 billion CNY for 2023, with a growth rate of 47.0%. For 2024, it is expected to be 2.191 billion CNY, with a growth rate of 24.4% [2]. - The company’s earnings per share (EPS) is projected to increase from 1.02 CNY in 2023 to 1.27 CNY in 2024 [2]. Market Position and Future Outlook - The company is positioned as a leading player in the park-level data center sector, benefiting from strategic location, high utilization rates, and a mature operational model [1]. - The anticipated delivery of new generation intelligent computing centers is expected to accelerate revenue growth, with significant demand in emerging applications such as autonomous driving and smart healthcare [1]. - The company plans to register and issue up to 4 billion CNY in short-term financing instruments to further enhance its capital structure and support business expansion [1].

Investment Rating - The report maintains a "Buy" rating for the company, with expected returns exceeding 20% over the next six months [7]. Core Insights - The company reported a significant increase in revenue and profit, with Q3 2024 revenue reaching 6.41 billion yuan, a year-on-year growth of 139.11%, and a net profit of 1.514 billion yuan, up 35.13% year-on-year [1]. - The company's AIDC (AI Data Center) business is expanding rapidly, contributing to a quarterly revenue of 2.835 billion yuan in Q3, representing a year-on-year growth of 184.03% and a quarter-on-quarter increase of 21.52% [2]. - The company is positioned as a leader in AI computing infrastructure, with a strong order book from top AI clients, indicating robust future growth potential [4]. Financial Performance Summary - The company achieved a gross margin of 25.89% in Q3, which has slightly decreased due to changes in revenue structure from the rapid growth of AIDC [3]. - The projected net profits for the company from 2024 to 2026 are estimated at 2.218 billion yuan, 3.282 billion yuan, and 4.205 billion yuan respectively, with corresponding P/E ratios of 25, 17, and 13 [5][6]. - The company’s total revenue is expected to grow significantly, with projections of 8.42 billion yuan in 2024, 9.36 billion yuan in 2025, and 11.14 billion yuan in 2026, reflecting growth rates of 93.54%, 11.14%, and 19.01% respectively [6][11].