消费电子组件 协创数据（300857.SZ） 买入-A(维持) 25 年收入和利润保持高增，智算业务爆发 2026 年 3 月 26 日 公司研究/公司快报 公司近一年市场表现 事件描述 | 年 市场数据：2026 3 | 月 | 日 26 | | | --- | --- | --- | --- | | 收盘价（元/股）： | | | 215.27 | | 年内最高/最低（元/ | | | 273.22/70.70 | | 股）： | | | | | 流通 A 股/总股本（亿 | | | 3.44/3.46 | | 股）： | | | | | 流通 A 股市值（亿元）： | | | 740.51 | | 总市值（亿元）： | | | 745.09 | 基础数据：2025 年 12 月 31 日 | 基本每股收益(元/股)： | 3.38 | | --- | --- | | 摊薄每股收益(元/股)： | 3.38 | | 每股净资产(元/股)： | 12.73 | | 净资产收益率(%)： | 26.13 | | 资料来源：常闻 | | 分析师： 盖斌赫 执业登记编码：S0760522050003 邮箱：gai ...

每经AI快讯，有投资者在投资者互动平台提问：公司在EDR方面和滴滴公司也有合作吗？ 协创数据（300857.SZ）3月26日在投资者互动平台表示，公司暂无相关合作。 （记者 张明双） ...

消费电子组件 协创数据（300857.SZ） 买入-A(维持) 25 年收入和利润保持高增，智算业务爆发 2026 年 3 月 26 日 公司研究/公司快报 公司近一年市场表现 事件描述 | 年 市场数据：2026 3 | 月 | 日 26 | | | --- | --- | --- | --- | | 收盘价（元/股）： | | | 215.27 | | 年内最高/最低（元/ | | | 273.22/70.70 | | 股）： | | | | | 流通 A 股/总股本（亿 | | | 3.44/3.46 | | 股）： | | | | | 流通 A 股市值（亿元）： | | | 740.51 | | 总市值（亿元）： | | | 745.09 | 基础数据：2025 年 12 月 31 日 | 基本每股收益(元/股)： | 3.38 | | --- | --- | | 摊薄每股收益(元/股)： | 3.38 | | 每股净资产(元/股)： | 12.73 | | 净资产收益率(%)： | 26.13 | | 资料来源：常闻 | | 分析师： 盖斌赫 执业登记编码：S0760522050003 3 月 16 ...

证券代码：300857 证券简称： 协创数据 公告编号：2026-052 协创数据技术股份有限公司 关于控股股东部分股份质押及解除质押的公告 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。 协创数据技术股份有限公司（以下简称"公司"）近日接到公司 控股股东协创智慧科技有限公司(以下简称"协创智慧"）的通知， 获悉协创智慧将其所持有的公司部分股份办理了股份质押、解除质押 业务，现将有关情况公告如下: 一、股东股份质押基本情况 | 股东 | 是否为 控股股 东或第 | 本次质押数 | 占其所 持股份 | 占公司 总股本 | 是否为限 售股（如 | 是否为 | 质押起 | 质押到 | 质权 | 质押 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 名称 | 一大股 东及其 | 量（股） | 比例 （%） | 比例 （%） | 是，注明限 售类型） | 补充质 押 | 始日 | 期日 | 人 | 用途 | | | 一致行 动人 | | | | | | | | | | | 协 ...

证券代码：300857 证券简称：协创数据 协创数据技术股份有限公司投资者关系活动记录表 编号：2026-001 | | □分析师会议 特定对象调研 | | --- | --- | | | □媒体采访 ☑ 业绩说明会 | | 投资者关系活动 | □新闻发布会 □路演活动 | | 类别 | | | | □现场参观 | | | □其他 | | 参与单位名称及 | 参加公司 2025 年度业绩说明会的所有投资者 | | 人员姓名 | | | 时间 | 2026 年 03 月 24 日 (周二) 下午 15:00-17:00 | | 地点 | 公司会议室 | | | 董事长耿康铭先； 董事、总经理潘文俊先生; | | 上市公司接待人 | 副总经理、董事会秘书甘杏女士; | | 员姓名 | 财务负责人瞿亚能先生; | | IR | 总监李京洋女士; | | | 独立董事李平先生。 | | | 公司于 2026 年 03 月 24 日 15:00-17:00 在全景网"投资 | | | 者关系互动平台"(http://ir.p5w.net)举行 2025 年度业绩说 | | | 明会。本次业绩说明会采用网络远程的方式举 ...

Investment Rating - The report maintains a "Recommended" rating for the computer industry [1] Core Insights - The demand for AI inference is continuously growing, driven by a significant increase in tokens usage, with a reported increase from 1.62 trillion tokens in March 2025 to 18 trillion tokens in March 2026, representing a growth of approximately 1011% [6][11] - Cloud service providers are raising prices for AI computing products due to rising hardware costs and increased demand for AI services, with price hikes ranging from 5% to 34% for various services [8][33] - The report highlights that the expansion of AI capabilities is expected to lead to a substantial increase in the number of active agents and token consumption, with annual token consumption projected to grow from 0.0005 PetaTokens in 2025 to 152,667 PetaTokens by 2030, reflecting a compound annual growth rate of 3418% [9][38] Summary by Sections Recent Trends - The computer industry has shown a relative performance decline of -10.1% over the past month, while the Shanghai Composite Index has remained stable [5] Price Adjustments - Major cloud providers like Alibaba Cloud and Baidu Cloud are increasing prices for AI computing services due to rising hardware procurement costs, with specific increases of up to 34% for Alibaba's AI computing services and 30% for Baidu's [8][27] Token Consumption Growth - The report indicates a significant rise in token consumption, with OpenClaw being a major contributor, achieving a monthly token call volume of 13.4 trillion as of March 2026 [17] - The share of domestic models in token consumption is increasing, with domestic models accounting for approximately 53.4% of the top models' total token calls as of March 2026 [14] Future Outlook - The report anticipates that the demand for AI computing and tokens will continue to rise, benefiting cloud service providers and related upstream and downstream companies [10][44] - The ongoing increase in hardware costs and the demand for AI services suggest that price adjustments in the cloud computing sector may persist [9][33]

Group 1 - The core viewpoint of the report highlights significant growth in core net profit for 2025, driven by high-end product offerings and export expansion for Geely Automobile [4][5] - Geely's total delivery volume reached 3.025 million units in 2025, a year-on-year increase of 39.0%, with total revenue of 345.23 billion yuan, up 25.1% [4] - The company expects to launch multiple new models in 2026, including the Zeekr 8X, which has shown strong pre-sale performance [5][6] Group 2 - The report indicates a substantial increase in overseas sales for Geely, with exports reaching 121,000 units in January-February 2026, a year-on-year increase of 129.4% [6] - Geely aims to expand its overseas channels to over 2,000 and has set an annual export target of 640,000 units for 2026 [6] - The company is advancing its AI strategy, integrating AI technology into core automotive functions, and has announced a partnership with NVIDIA to enhance AI capabilities [6] Group 3 - The report projects Geely's revenue to grow to 421.8 billion yuan in 2026, with net profit expected to reach 215 billion yuan, reflecting a growth rate of 27% [7] - The company's earnings per share (EPS) is forecasted to be 1.98 yuan in 2026, with a price-to-earnings (PE) ratio of 8.2 times [7] - The report maintains a "buy" rating for Geely, citing the company's strong growth potential driven by new energy products and high-end brand sales [7] Group 4 - The report on Blukoo indicates a significant increase in revenue, reaching 2.913 billion yuan in 2025, a year-on-year growth of 30.0% [8][9] - The adjusted net profit for Blukoo was 675 million yuan, up 15.5% from the previous year, despite a decline in gross margin due to rising costs [8] - The company has seen a notable increase in adult-targeted products, with a significant rise in the number of SKUs aimed at consumers aged 16 and above [10] Group 5 - The report on Xiechuang Data shows a remarkable revenue growth of 93.77% year-on-year in Q4 2025, reaching 3.905 billion yuan [13] - The net profit for the same quarter was 466 million yuan, reflecting a year-on-year increase of 246.15% [13] - The company has diversified its revenue streams, with intelligent computing products becoming a significant contributor to overall income [13] Group 6 - The report on SF Holding indicates a 9.44% year-on-year increase in business volume for January-February 2026, with revenue from express logistics reaching 36.817 billion yuan [18] - The average revenue per package has slightly decreased by 0.79%, but the company expects stabilization in pricing as it adjusts its market strategy [18] - The long-term outlook for SF Holding remains positive, with expectations for growth in international business and supply chain services [19] Group 7 - Tencent Music's revenue for 2025 was 32.9 billion yuan, a year-on-year increase of 15.8%, with net profit rising by 66.4% to 11.06 billion yuan [22][24] - The company has seen strong growth in its online music subscription business, with a notable increase in both user payment rates and average revenue per paying user (ARPPU) [26] - The report highlights the potential for AI to enhance music creation and consumption, driving further growth in the industry [28] Group 8 - The report on the electric power ETF indicates a significant opportunity for asset revaluation in the power sector, driven by the increasing demand for electricity from data centers [30][31] - The report emphasizes the importance of the new pricing mechanisms for electricity generation, which are expected to enhance the profitability of power assets [32] - The electric power sector is positioned as a defensive investment, with strong cash flow and dividend capabilities, making it attractive for long-term investors [34]

炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 来源：国际投行研究报告 被控走私英伟达芯片2 人被抓 1 人在逃隔夜美股超微电脑暴跌 33.32%！协创数据昨天紧急澄清还是跌 了 14.89% 1 、昨天下午，协创数据紧急澄清，表示公司一直坚持合规经营，所有智能算力产品均通过合规商业渠 道采购，始终严格遵守市场规则与法律法规开展业务。不过昨天还是跌了 14.89%。 2 、昨天晚上，超微电脑暴跌 33.32%，原因是Super Micro联合创始人等三人遭美起诉，被指走私载有 英伟达芯片的服务器。美国起诉书显示，包括Super Micro Computer联合创始人廖益贤在内的三人涉嫌 违反芯片出口管制，非法走私价值数十亿美元的服务器，并欺骗美国检查人员。 3 、周四解封的一份美国起诉书显示，一家美国服务器制造商的员工协助将搭载高端英伟达（Nvidia） 芯片的设备走私，并使用假设备欺骗一名美国检查人员。根据起诉书，这些服务器在美国组装，运往 Super Micro在台湾的工厂，然后交付给客户。起诉书称，该团伙用吹风机取下并重贴标签，以便让假 服务器——即无法运作的Super Mic ...

3月20日，有市场传闻称美国超威电脑(SMCI)联合创始人廖某因向中国走私英伟达AI服务器被逮捕。截至发稿，超威电脑盘前股价大跌超23%。 该传闻波及多家A股公司，引发相关公司股价大跌。当天午后，利通电子（603629）(603629.SH)股价突然跌停，报收61.26元，总市值160.73亿元。 另一家被传闻波及的是A股算力巨头协创数据（300857）(300857.SZ)，该公司午后股价突然跳水，一度20cm跌停，截至收盘跌近15%，报收219.25元，总 市值758.87亿元。 据证券时报报道，针对廖某走私英伟达AI服务器售卖给利通电子的市场传闻，记者致电利通电子进行核实。相关人士回应称，"经公司核查，该传闻不属 实。公司目前采购和项目交付一切正常，不存在需要披露的重大异常情况。" 与此同时，协创数据也迅速发布公告就投资者关注的服务器采购合规性问题作出说明。协创数据称，有部分投资者反映，个别海外服务器厂商涉及非法交 易。对此，公司经审慎核实后表示，相关事项与公司无任何关联。公司智能算力产品均通过合规商业渠道采购，始终遵循市场规则与法律法规开展业务。 协创数据进一步指出，公司长期坚持前瞻性的战略储备，持续 ...

Core Viewpoint - The photovoltaic industry chain stocks experienced significant gains, with multiple companies reaching their daily limit up, driven by market dynamics and news related to major players like Tesla and SpaceX [1][2][3]. Photovoltaic Industry Chain - On March 20, photovoltaic stocks surged, with companies like Shangneng Electric and Shouhang New Energy hitting the 20% limit up, while Jinlang Technology rose over 15% [3][4]. - The market saw a strong performance from several photovoltaic stocks, including Dongfang New Energy and Zhongli Group, which also reached their daily limit up [3][4]. - Tesla is reportedly planning to procure solar panels and battery manufacturing equipment worth $2.9 billion from Chinese suppliers, which may involve several listed companies [5]. - Musk's team is working on photovoltaic orders for both SpaceX and Tesla, with plans to establish 100GW of photovoltaic capacity in the U.S. over the next three years [6]. Electric Power Sector - The electric power sector showed strong performance, with companies like Jiuzhou Group and Huadian Liaoning achieving significant gains, including a 20% limit up for Jiuzhou Group [8][9]. - Huadian Liaoning has seen five consecutive days of limit up trading, with the company confirming stable operational conditions and no significant changes in its business environment [10]. - Huadian Energy has reported a cumulative increase of over 100% in its stock price since March, although it has warned of potential market overheating and irrational speculation risks [11]. Market Dynamics - The A-share market displayed a mixed performance, with the Shanghai Composite Index falling by 1.24% while the ChiNext Index rose by 1.3% [1]. - The overall trading volume in the Shanghai and Shenzhen markets reached approximately 2.3 trillion yuan, an increase of about 175 billion yuan from the previous day [1]. Notable Events - Chuangxin Data experienced a sharp decline, hitting a near 15% drop, attributed to market rumors regarding the compliance of its server procurement [12][13][15].