广东奥飞数据科技股份有限公司 2024 年度审计报告 司农审字|2025|25005720019 号 | 目 录 | | | --- | --- | | 审计报告 … | 1-7 | | 合并资产负债表 ………………………………………………………… | 1 | | 合并利润表 … | 2 | | 合并现金流量表 | 3 | | 合并所有者权益变动表 ……………………………………………… | 4-5 | | 母公司资产负债表 …………………………………………………………………………… | 6 | | 母公司利润表 … | 7 | | 母公司现金流量表 ………………………………………………… | 8 | | 母公司所有者权益变动表 …………………………………………………………………… | 9-10 | | 财务报表附注 …………………………………………………… | 11-149 | 我们按照中国注册会计师审计准则的规定执行了审计工作。审计报告的"注册 会计师对财务报表审计的责任"部分进一步阐述了我们在这些准则下的责任。按照 中国注册会计师职业道德守则,我们独立于奥飞数据,并履行了职业道德方面的其 他责任。我们相信 ...

广东奥飞数据科技股份有限公司 2025 年度向特定对象发行 A 股股票 广东奥飞数据科技股份有限公司 向特定对象发行股票募集说明书 股票简称：奥飞数据 股票代码：300738 募集说明书 （申报稿） 保荐人（主承销商） （中国（上海）自由贸易试验区浦明路 8 号） 二零二五年六月 1-1-1 广东奥飞数据科技股份有限公司 向特定对象发行股票募集说明书 重大事项提示 公司特别提示投资者对下列重大事项给予充分关注，并仔细阅读本募集说明 书中有关风险因素的章节。 广东奥飞数据科技股份有限公司 向特定对象发行股票募集说明书 声 明 本公司全体董事、监事、高级管理人员承诺募集说明书不存在任何虚假记载、 误导性陈述或重大遗漏，并保证所披露信息的真实、准确、完整。 公司负责人、主管会计工作负责人及会计机构负责人保证募集说明书中财务 会计报告真实、完整。 证券监督管理机构及其他政府部门对本次发行所作的任何决定，均不表明其 对公司所发行证券的价值或者投资人的收益作出实质性判断或者保证。任何与之 相反的声明均属虚假不实陈述。 根据《证券法》的规定，证券依法发行后，公司经营与收益的变化，由公司 自行负责，由此变化引致的投资风险，由 ...

Core Viewpoint - The A-share computing hardware sector is experiencing strong performance, driven by the rapid development of artificial intelligence technology and positive market expectations from overseas markets like Nvidia [1][2]. Group 1: Market Performance - The A-share computing hardware sector has shown robust performance, with companies like Huadian and Jingwang Electronics reaching historical highs [1]. - Yihua New Materials' stock surged over 10%, while Jin'an Guoji successfully hit the daily limit [1]. - Several other stocks, including Aoshikang and Dongcai Technology, also recorded gains exceeding 5% [1]. Group 2: Industry Drivers - The computing hardware industry is benefiting from the rapid growth of AI technology, with PCB playing a crucial role in AI servers and high-performance computing systems [1]. - The demand for high-end PCBs is surging, leading to increased demand for upstream high-end materials, creating a supply-demand imbalance [1]. Group 3: Supply Chain Dynamics - There is a growing scarcity of high-layer and high-density interconnect (HDI) capacity, as well as a shortage of high-end material supply in the industry chain [1]. - This supply-demand imbalance presents opportunities for related companies to achieve explosive growth in performance [1]. Group 4: Infrastructure Demand - The demand for computing infrastructure is continuously increasing, with leading domestic and international manufacturers ramping up efforts to meet the surging demand for computing power [2]. - The ASIC market's growth expectations are being continuously revised upward, supporting the high prosperity of the PCB industry chain [2].

Group 1 - The core viewpoint of the article highlights the strong performance of computing power concept stocks, with Data Port (603881) hitting the daily limit, and Runze Technology (300442) rising over 8% [1] - Other companies such as Aofei Data (300738), Kehua Data (002335), and Industrial Fulian (601138) also experienced significant upward movement [1] - There is an influx of dark pool funds into these stocks, indicating increased investor interest and potential market activity [1]

Investment Summary - The report maintains an "Overweight" rating for the semiconductor and consumer electronics sectors, highlighting the acceleration of semiconductor technology breakthroughs driven by AI, which is expected to enhance the upgrade of consumer electronics [1][2]. Semiconductor Technology Breakthrough - The semiconductor industry is experiencing a structural transformation due to the dual pressures of "bottleneck" and "breakthrough," leading to a decrease in the proportion of externally sourced chips from 63% in 2024 to 42% in 2025 [9]. - Emerging application fields such as low-altitude economy, commercial aerospace, AI, new energy vehicles, and intelligent robotics are driving the demand for precision electronic components, accelerating the domestic substitution process [9]. AIDC Sector - AI is driving an increase in server power, leading to a growth in demand for major equipment. The demand for data centers is continuously increasing due to the surge in data volume driven by cloud computing, big data, and AI technologies [12]. - The shift from traditional CPUs to GPUs in AI computing core devices is resulting in a significant increase in power requirements, necessitating higher system efficiency and reliability in power distribution [12]. Consumer Electronics - The market for domestic System on Chip (SoC) is growing, providing high-performance hardware support and customized software solutions for various industries, including smart homes and industrial automation [15]. - SoC chips are widely used in AI applications due to their high performance, low power consumption, and high integration, becoming essential components in consumer electronics such as smartphones and tablets [15]. CIS Market Recovery - The CIS market is experiencing rapid recovery, driven by increased shipments from manufacturers like OmniVision, Gekewei, and Sitaiwei, fueled by demand from smartphones, smart cars, and emerging fields like drones and AR/VR [17]. - Domestic CIS manufacturers are intensifying market expansion efforts, with high-end products expected to continue gaining market share, particularly in flagship smartphones [17].

| 证券代码：300738 | 证券简称：奥飞数据 | 公告编号：2025-064 | | --- | --- | --- | | 债券代码：123131 | 债券简称：奥飞转债 | | 广东奥飞数据科技股份有限公司 2024年年度权益分派实施公告 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。 广东奥飞数据科技股份有限公司（以下简称"公司"或"奥飞数据"）2024年年度 权益分派方案已获2025年5月12日召开的2024年年度股东大会审议通过，现将权益 分派事宜公告如下： 一、股东大会审议通过的2024年度利润分配方案的情况 1、股东大会审议通过的2024年度利润分配方案的具体内容为：以实施权益分 派的股权登记日总股本为基数，向全体股东每10股派发现金红利0.13元（含税）， 送红股0股（含税），以资本公积金向全体股东每10股转增0股。2024年度利润分配 方案公告后至实施前，若公司出现股权激励行权、可转换公司债券转股、股份回购 等情况致使总股本发生变化时，将按照分配比例不变的原则调整分配总额。 2、因"奥飞转债"转股导致公司股本总数自2024年度利润分配方 ...

| 证券代码：300738 | 证券简称：奥飞数据 | 公告编号：2025-065 | | --- | --- | --- | | 债券代码：123131 | 债券简称：奥飞转债 | | 派送红股或转增股本：P1=P0÷（1+n）； 增发新股或配股：P1=（P0+A×k）÷（1+k）； 广东奥飞数据科技股份有限公司 关于可转换公司债券转股价格调整的公告 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。 特别提示： 一、关于"奥飞转债"转股价格调整的相关规定 广东奥飞数据科技股份有限公司（以下简称"公司"或"奥飞数据"）经深圳证 券交易所创业板上市委员会 2021 年第 37 次审议会议审核通过，并经中国证券监 督管理委员会（以下简称"中国证监会"）"证监许可〔2021〕2720 号"文同意注册。 公司向不特定对象发行了 635.00 万张可转换公司债券（以下简称"可转债"），每 张面值 100 元，发行总额为 635,000,000.00 元，本次可转换公司债券已于 2021 年 12 月 22 日起在深圳证券交易所挂牌交易。债券简称"奥飞转债"，债券代码 "1 ...

| 证券代码：300738 | 证券简称：奥飞数据 | 公告编号：2025-063 | | --- | --- | --- | | 债券代码：123131 | 债券简称：奥飞转债 | | 广东奥飞数据科技股份有限公司 2025 年第二季度可转换公司债券转股情况公告 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。 特别提示： 广东奥飞数据科技股份有限公司（以下简称"公司"或"奥飞数据"）现将2025 年第二季度可转换公司债券转股及公司股本变动情况公告如下： 一、可转换公司债券发行上市情况 （二）可转换公司债券上市情况 经深圳证券交易所同意，公司本次可转债于2021年12月22日起在深圳证券交 易所挂牌交易。债券简称"奥飞转债"，债券代码"123131"。 （三）可转债转股期限 本次发行的可转债的转股期自发行结束之日2021年12月9日起满六个月后的 第一个交易日起至可转债到期日止，即2022年6月9日至2027年12月2日。 （一）可转换公司债券发行情况 经中国证券监督管理委员会"证监许可〔2021〕2720号"核准，同意公司向不 特定对象发行可转换公司债券（ ...

Group 1 - The company, Guangdong Aofei Data Technology Co., Ltd., issued convertible bonds totaling 635 million yuan, with a net amount of approximately 626.98 million yuan after deducting issuance costs [3][4][16] - The bonds have a maturity period of 6 years, with an annual interest rate starting at 0.5% in the first year and increasing to 0.7% in the second year [4][5][6] - The initial conversion price for the bonds is set at 22.02 yuan per share, with provisions for adjustments based on various corporate actions [6][8][10] Group 2 - The company reported a significant increase in revenue for 2024, reaching approximately 216.48 million yuan, a 62.18% increase year-over-year [16] - The net profit attributable to shareholders decreased by 12.20% to approximately 12.41 million yuan, while the EBITDA increased by 34.16% to about 82 million yuan [16] - The total assets of the company grew by 36.05% to approximately 11.68 billion yuan, with a debt-to-asset ratio of 71.12% [16] Group 3 - The funds raised from the bond issuance are intended for investment in a new generation cloud computing and artificial intelligence industrial park, with a total project investment of approximately 747.93 million yuan [12][14] - The company has established a strong presence in over 30 cities in China, providing IDC services and other internet comprehensive services [16] - The company has partnerships with major telecommunications providers, enhancing its service offerings in cloud computing and data center operations [16]

Core Viewpoint - The company is benefiting from the explosive demand for AI computing power, with significant growth in its IDC (Internet Data Center) services and other internet-related services, despite facing high capital expenditure and profit pressure due to depreciation and interest expenses [5][13][19]. Company Overview - Guangdong Aofei Data Technology Co., Ltd. maintains a credit rating of A+ with a stable outlook, reflecting its strong position in the AI computing demand surge and effective project delivery in key regions [3][5]. - The company plans to raise up to 1.75 billion yuan through a private placement to support its ongoing projects, including the new generation cloud computing and AI industrial park [8][12]. Financial Performance - The company reported a significant increase in revenue, with a 62.18% year-on-year growth in total revenue for 2024, driven by the delivery of new data centers and increased demand for computing power [5][13]. - However, net profit decreased by 12.20% year-on-year due to increased depreciation, financial costs, and asset impairment provisions [5][19]. - As of March 2025, total assets reached 128.40 billion yuan, with total liabilities increasing, leading to a high debt-to-equity ratio [3][19]. Industry Environment - The AI boom is reshaping the IDC industry, with a notable increase in demand for high-power cabinets, which traditional data centers cannot meet [9][11]. - Major internet companies are significantly increasing their capital expenditures, indicating a robust growth trend in IDC demand [9][10]. - The industry is experiencing a supply-demand mismatch, with a growing number of AI computing centers being established, but also facing potential competition and debt pressures due to high capital expenditures [9][11]. Operational Strategy - The company is strategically focusing on expanding its IDC services, with a significant increase in the number of operational cabinets, which grew over 20% year-on-year [5][13]. - The company has signed long-term contracts with major clients, ensuring a stable revenue stream despite high client concentration risks [13][14]. - The company is also diversifying its services, including distributed photovoltaic energy-saving services, although this segment faces challenges due to its smaller scale and project management demands [18][19].