Financial Performance - The company's revenue for Q1 2025 was ¥535,966,430.05, representing a 40.62% increase compared to ¥381,152,040.54 in the same period last year[5]. - Net profit attributable to shareholders was ¥51,747,572.54, a slight increase of 2.47% from ¥50,500,519.69 year-over-year[5]. - Total operating revenue for the current period reached ¥535,966,430.05, a significant increase from ¥381,152,040.54 in the previous period, representing an increase of approximately 40.7%[17]. - Net profit for the current period was ¥51,996,869.91, compared to ¥49,496,192.73 in the previous period, indicating a growth of approximately 3.0%[18]. - The total comprehensive income for the current period was ¥51,995,968.71, compared to ¥49,588,025.47 in the previous period, indicating an increase of about 4.0%[19]. Cash Flow - The net cash flow from operating activities surged to ¥196,282,484.55, a significant increase of 1,156.44% compared to -¥18,579,570.40 in Q1 2024[5]. - Operating cash flow for the period was ¥196,282,484.55, a significant improvement compared to the previous period's negative cash flow of -¥18,579,570.40[20]. - Total cash inflow from operating activities was ¥620,151,381.18, down 29.4% from ¥878,695,618.43 in the previous period[20]. - Cash outflow from operating activities decreased to ¥423,868,896.63, a reduction of 52.8% compared to ¥897,275,188.83 in the previous period[20]. - The ending cash and cash equivalents balance was ¥553,544,772.50, up from ¥116,219,810.61 in the previous period, indicating improved liquidity[21]. Assets and Liabilities - Total assets at the end of Q1 2025 reached ¥12,840,332,392.47, marking a 9.89% increase from ¥11,684,772,268.40 at the end of the previous year[5]. - Total liabilities rose to ¥9,335,162,719.26 from ¥8,310,449,997.21, an increase of approximately 12.3%[16]. - The equity attributable to shareholders of the parent company increased to ¥3,472,088,521.10 from ¥3,342,382,617.36, reflecting a growth of about 3.9%[16]. Research and Development - The company reported a 105.41% increase in R&D expenses, totaling ¥14,590,166.27, compared to ¥7,103,005.39 in Q1 2024[8]. - Research and development expenses for the current period were ¥14,590,166.27, compared to ¥7,103,005.39 in the previous period, showing an increase of approximately 105.5%[17]. Shareholder Information - The total number of common shareholders at the end of the reporting period is 119,959[10]. - The largest shareholder, Guangzhou Haomeng Computer Technology Co., Ltd., holds 27.60% of shares, totaling 271,925,507 shares, with 67,835,000 shares pledged[10]. - The top ten unrestricted shareholders collectively hold 271,925,507 shares, representing a significant portion of the company's equity[11]. - The company has no preferred shareholders as of the reporting period[12]. - The company has not reported any changes in the top ten shareholders due to securities lending or borrowing[11]. Investment Activities - The company experienced a 92.95% increase in cash outflows from investing activities, amounting to -¥896,353,723.15, primarily due to increased project investments[9]. - Investment activities resulted in a net cash outflow of -¥896,353,723.15, compared to -¥464,558,103.16 in the previous period, indicating increased investment expenditures[21]. - The company received ¥792,270.00 from minority shareholders as part of investment activities, reflecting ongoing support from stakeholders[21]. - The company reported a cash inflow of ¥30,000.00 from investment recoveries, indicating some return on previous investments[21]. Financing Activities - The net cash flow from financing activities increased by 165.04% to ¥1,201,701,362.76, driven by higher borrowings during the period[9]. - Cash inflow from financing activities was ¥1,686,251,127.29, up 48.9% from ¥1,131,193,062.35 in the previous period[21]. - Net cash flow from financing activities increased to ¥1,201,701,362.76, compared to ¥453,411,806.65 in the previous period, reflecting stronger financing efforts[21]. Operational Efficiency - The company reported a 41.75% decrease in accounts receivable, down to ¥368,585,327.97 from ¥632,740,523.79, indicating improved cash collection[8]. - The company's cash flow from operating activities showed a positive trend, suggesting improved operational efficiency and revenue generation capabilities[20]. - The weighted average return on equity decreased slightly to 1.53% from 1.63% year-over-year[5].

Summary of the Conference Call on Aofei Data and the IDC Industry Company Overview - Aofei Data is a private IDC company established in 2004, initially focusing on bandwidth leasing and serving second-tier internet companies like UC and YY, which laid the foundation for its growth [4][8]. Industry Insights - The IDC industry has experienced two major market cycles from 2015-2018 and in 2020, currently positioned at the lower end of historical high prosperity levels, suggesting a buying opportunity during market corrections [2][3]. - The demand from major internet companies remains strong, with expectations for a price recovery in core locations by the end of 2025 [3][5]. Key Developments - Aofei Data transitioned to a heavy asset model in 2018 by acquiring Beijing Yunji and Desheng, expanding its operations into North China and enhancing its financing capabilities through its IPO [2][7]. - The year 2020 was pivotal for Aofei Data due to the surge in online demand from remote work and supportive national policies for new infrastructure, leading to strategic partnerships with major firms like Kuaishou, Alibaba, and Baidu [8][12]. Financial Performance - As of mid-2024, Aofei Data has over 39,000 cabinets, indicating substantial resource reserves and potential for rapid growth [9][10]. - The company reported a 59% revenue growth, significantly driven by AI computing server sales, demonstrating its dual-line profitability [12]. Strategic Initiatives - Aofei Data has initiated a capital increase project of 1.75 billion yuan for the Langfang Gu'an project, reflecting its proactive stance on capital expenditure and market opportunities [13]. - The collaboration with Baidu is expected to solidify performance, with projected delivery capacity exceeding 100 MW in 2025 [12]. Competitive Landscape - The IDC industry comprises both state-owned and private enterprises. While state-owned firms have advantages in energy consumption metrics and financing, private companies like Aofei leverage efficient management and aggressive strategies to expand during demand surges [11]. Future Outlook - The IDC industry is anticipated to maintain high prosperity in 2025, making it a relatively lucrative sector within the computing power segment, with recommendations for investors to consider increasing their positions during market corrections [5][6].

Investment Rating - Industry rating: Recommended [5] Core Viewpoints - The ongoing tariff war between the US and China has intensified, with the US imposing a 34% tariff on Chinese imports, prompting China to respond with similar tariffs, which accelerates the domestic innovation and localization process in the technology sector [1][3][14] - The Chinese government emphasizes "technological self-reliance" as a core agenda, with policies aimed at enhancing key technology breakthroughs and increasing investment in basic research, which supports the growth of the domestic technology industry [2][26] - The tariff situation has led to significant market volatility, with the Chinese stock market experiencing a drop of over 7% in a single day, but state-owned enterprises have stepped in to stabilize the market through share buybacks and acquisitions [3][32] Summary by Sections 1. Changes in Foreign Tariff Policies - The US has implemented a "reciprocal tariff" policy, raising tariffs on Chinese goods, which has increased the cost of imported high-end components for the Chinese tech industry, particularly in hardware sectors like chips and servers [1][14][19] - The tariff war has created short-term challenges for the domestic innovation industry, but it also accelerates the push for domestic alternatives and self-sufficiency in technology [19][35] 2. Policy Promotion of Self-Reliance - The Chinese government has introduced measures to strengthen key technology research and optimize the layout of scientific research resources, aiming to create a trillion-level domestic innovation industry cluster by 2027 [2][28] - Local governments are also implementing supportive policies to promote domestic technology development, focusing on areas such as artificial intelligence and software ecosystems [28][30] 3. Corporate Actions and Domestic Tariff Responses - In response to the tariff war, state-owned enterprises have increased share buybacks to bolster market confidence, with 18 central enterprises taking action to stabilize the market [3][32] - The domestic chip market is benefiting from the increased prices of imported chips, highlighting the competitive advantage of domestic alternatives [3][31] 4. Investment Recommendations - Beneficial targets include core domestic innovation companies such as China Software, China Great Wall, and Dongfang Tong, as well as domestic computing and chip firms like Tuwei Information and Haiguang Information [4][39]

| 证券代码：300738 | 证券简称：奥飞数据 | 公告编号：2025-024 | | --- | --- | --- | | 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 第四届董事会第十八次会议决议公告 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。 一、董事会会议召开情况 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"）第四届董 事会第十八次会议（以下简称"会议"）于 2025 年 4 月 9 日以现场与通讯相结合 的方式在公司会议室召开，以书面方式进行表决。本次会议为紧急会议，会议通 知已于 2025 年 4 月 8 日以电话通知、电子通讯通知、专人送达等方式发出。应 当参加会议董事 9 人，实际参加会议董事 9 人。会议由公司董事长冯康先生主 持，公司监事、高级管理人员列席会议。会议的召集、召开程序以及表决程序符 合《公司法》及《公司章程》等有关规定，形成的决议合法有效。 具体内容详见刊登在中国证券监督管理委员会指定的创业板信息披露网站 巨潮资讯网（www.cninfo.com.cn）上的相 ...

（一）可转换公司债券发行情况 民生证券股份有限公司 关于广东奥飞数据科技股份有限公司 不提前赎回奥飞转债的核查意见 民生证券股份有限公司（以下简称"保荐人"）作为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"）持续督导机构，根据《可转换公 司债券管理办法》《证券发行上市保荐业务管理办法》《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运作》《深圳证券交易所上市公司 自律监管指引第 15 号——可转换公司债券》等有关法律法规及规范性文件的规 定，对公司不提前赎回"奥飞转债"事项进行了核查，具体情况如下： 一、可转换公司债券基本情况 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，每张 面值 100 元，募集资金总额为 635,000,000.00 元，扣除不含税的发行费用 8,016,087.67 元，实际募集资金净额为 626,983,912.33 元。上述募集资金到位 情况已经容诚会计 ...

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 关于不提前赎回奥飞转债的公告 1、自 2025 年 3 月 19 日至 2025 年 4 月 9 日，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"）股票已有十五个交易日的收盘价不低于"奥飞 转债"当期转股价格（即 10.07 元/股）的 130%（即 13.091 元/股）。根据《广东 奥飞数据科技股份有限公司 2021 年度向不特定对象发行可转换公司债券并在创 业板上市募集说明书》（以下简称"《募集说明书》"）中有条件赎回条款的相关 规定，已触发了"奥飞转债"的有条件赎回条款（即：在转股期内，如果公司股票 在任何连续 30 个交易日中至少 15 个交易日的收盘价格不低于当期转股价格的 130%（含 130%））。 2、2025 年 4 月 9 日，公司召开了第四届董事会第十八次会议并审议通过 《关于不提前赎回奥飞转债的议案》，公司董事会决定本次不行使"奥飞转债"的 提前赎回权利，同时决定未来 3 个月内（即 2025 年 4 月 10 日至 ...

| 证券代码：300738 | 证券简称：奥飞数据 | 公告编号：2025-022 | | --- | --- | --- | | 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 关于参与投资设立产业投资基金的公告 2、风险提示：产业投资基金仍处于筹备设立阶段，后续尚需获得工商管理 部门的许可及中国证券投资基金业协会等有关机构的登记注册、备案等手续，因 此产业投资基金能否成功设立尚存在不确定性。产业投资基金成功备案后，其投 资奥融科技事项还需履行公司及产业投资基金的相关决策程序，最终能否投资奥 融科技尚存在不确定性。敬请广大投资者审慎进行投资决策，注意投资风险。 一、交易概述 1、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"）出资 20,000万元人民币，与万联天泽资本投资有限公司（以下简称"万联天泽"）、 广州复朴道和投资管理有限公司（以下简称"复朴投资"）、广州上市公司高质 量发展基金合伙企业（有限合伙）（以下简称"广州上市公司高质量发展基金"） 共同投资设立广州天泽奥融股权投资基金合伙企业（有限合伙）（以在工商管理 部门最终设立登记的名称为准，以下简 ...

| 证券代码：300738 | 证券简称：奥飞数据 | 公告编号：2025-020 | | --- | --- | --- | | 债券代码：123131 | 债券简称：奥飞转债 | | 4、转股期限：2022 年 6 月 9 日至 2027 年 12 月 2 日 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 年第一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 （一）可转换公司债券发行情况 广东奥飞数据科技股份有限公司 2025 年第一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： 1、证券代码：300738 证券简称：奥飞数据 2、债券代码：123131 债券简称：奥飞转债 3、转股价格：10.07 元/股 2025 年第一季度，"奥飞转债"因转股减少 763,888 张债券，转股数量为 7,585,369 股。截至 2025 年 3 月 31 日，"奥飞转债"剩余可转债金额为 316,770,300 元，剩余债券 3,167,703 张。 三、 ...

| 证券代码：300738 | 证券简称：奥飞数据 | 公告编号：2025-021 | | --- | --- | --- | | 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 关于奥飞转债预计触发赎回条件的提示性公告 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"）股票价格 自 2025 年 3 月 19 日至 2025 年 4 月 1 日已有十个交易日的收盘价不低于"奥飞 转债"当期转股价格的 130%。如后续公司股票收盘价格继续不低于当期转股价格 （即 10.07 元/股）的 130%（即 13.091 元/股），预计后续可能触发"奥飞转债"有 条件赎回条款。根据《广东奥飞数据科技股份有限公司 2021 年度向不特定对象 发行可转换公司债券并在创业板上市募集说明书》（以下简称"《募集说明书》"） 中有条件赎回条款的相关规定，届时公司董事会有权决定按照债券面值加当期应 计利息的价格赎回全部或部分未转股的"奥飞转债"。 敬请广大投资者详细了解可转 ...

| 证券代码：300738 | 证券简称：奥飞数据 | 公告编号：2025-023 | | --- | --- | --- | | 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 关于控股股东解除质押和股份质押延期回购的公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚假记载、 误导性陈述或者重大遗漏。 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")于近日收到公司控 股股东广州市昊盟计算机科技有限公司（以下简称"昊盟科技"）的函告，获悉昊盟科技 对其所持有的部分奥飞数据股份办理了解除质押和股份质押延期回购的业务，具体事项 如下： | 股东名称 | 是否为控股股东或第 一大股东及其一致行 | 本次解除质押的 股份数量 | | 占其所持 | 占公司总 | 起始日 | | 解除日期 | 质权人 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | | | 股份比例 | 股本比例 | | | | | | | 动人 | | （股） | | | | | | | | ...