Financial Performance - The company's revenue for Q1 2025 reached ¥2,077,320,431.29, representing an 18.11% increase compared to ¥1,758,870,895.53 in the same period last year[5] - Net profit attributable to shareholders was ¥169,210,530.88, a 4.29% increase from ¥162,245,470.40 year-on-year[5] - The company reported a basic earnings per share of ¥0.69, up 2.99% from ¥0.67 in the same period last year[5] - Total operating revenue for the current period reached ¥2,077,320,431.29, an increase of 18.1% compared to ¥1,758,870,895.53 in the previous period[22] - Net profit attributable to the parent company increased to ¥1,623,463,623.06, compared to ¥1,454,253,092.18 in the previous period, reflecting a growth of 11.6%[22] - The net profit for the current period is 165,032,477.87, an increase from 162,549,326.12 in the previous period, representing a growth of approximately 1.52%[23] - The company reported a total comprehensive income of 164,348,614.20, slightly up from 161,720,854.89 in the previous period[23] Cash Flow and Assets - The net cash flow from operating activities was -¥592,398,595.22, a decline of 144.35% compared to -¥242,436,340.75 in the previous year[5] - Cash and cash equivalents at the end of the period were ¥2,465,919,973.26, up 61.5% from ¥1,527,411,940.42 at the beginning of the period[20] - Cash and cash equivalents at the end of the period amounted to 2,405,740,940.43, up from 1,439,976,190.96 in the previous period, marking an increase of about 67.00%[26] - The cash outflow from investing activities was -779,523,772.38, worsening from -110,597,752.43 in the previous period[25] - Total assets increased by 36.85% to ¥9,996,559,998.99 from ¥7,304,501,616.24 at the end of the previous year[5] - Total liabilities increased to ¥6,577,391,723.02, a rise of 62.0% from ¥4,065,947,897.68 in the previous period[21] - Non-current assets totaled ¥2,216,474,004.29, up 49.6% from ¥1,483,397,473.13 at the start of the period[21] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 30,875[10] - The largest shareholder, Xiechuang Smart Technology Co., Ltd., holds 20.47% of the shares, with 14,000,000 shares pledged[11] Research and Development - R&D expenses for the period amounted to RMB 44.49 million, representing a year-on-year growth of 3.19%[14] - Research and development expenses for the current period were ¥44,485,513.70, slightly up from ¥43,112,018.76 in the previous period[22] - The company is actively investing in the development of self-researched storage chips to enhance competitiveness in the smart storage sector[14] Business Expansion and Strategy - The company plans to expand its market presence and invest in new product development to drive future growth[5] - The smart storage business continued to grow rapidly, driven by the increasing demand for high-capacity and high-performance storage devices in the AI era[14] - The smart IoT business is expanding into overseas markets, leveraging technological advantages in smart home and security products[15] - The cloud service business is centered around a "connection + intelligent computing" model, enhancing efficiency by over 30% in management through AI applications[16] - The server remanufacturing business is experiencing increased demand due to the AI infrastructure wave, with a focus on optimizing production processes[18] - The company plans to explore new business models in the server remanufacturing sector to improve profitability[18] Inventory and Costs - Total operating costs amounted to ¥1,848,876,020.98, up 19.4% from ¥1,548,929,967.13 in the prior period[22] - Inventory increased to ¥2,201,761,456.16, a rise of 16.5% from ¥1,890,289,093.12 at the start of the period[20] Asset Quality and Impairment - The company incurred asset impairment losses of -11,740,093.13, compared to -7,743,708.15 in the previous period, indicating a deterioration in asset quality[23] - The company’s other comprehensive income after tax was -683,863.67, slightly improved from -828,471.23 in the previous period[23]

协创数据（300857）公告，2025年第一季度营业收入20.77亿元，同比增长18.11%。净利润1.69亿元， 同比增长4.29%。 ...

广东信达律师事务所 股东会法律意见书 中国 深圳 福田区 益田路6001号太平金融大厦11、12楼 11&12F.,TAIPINGFINANCETOWER,YITIANROAD6001,FUTIAN,SHENZHEN,CHINA 电话(Tel.)：(0755)88265288 邮政编码：518038 网址(Website)：www.sundiallawfirm.com 传真(Fax.)：(0755)88265537 广东信达律师事务所 关于协创数据技术股份有限公司 2024年度股东会 法律意见书 信达会字（2025）第065号 致：协创数据技术股份有限公司 根据《中华人民共和国公司法》（下称"《公司法》"）《上市公司股东会规则》 （下称"《股东会规则》"）等法律、法规、规范性文件及现行有效的《协创数据技术股 份有限公司章程》（下称"《公司章程》"）的规定，广东信达律师事务所（下称"信达"） 接受贵公司的委托，指派万威世律师、赖凌云律师（下称"信达律师"）出席贵公 司 2024 年度股东会（下称"本次股东会"），在进行必要验证工作的基础上，对贵 公司本次股东会的召集、召开程序、出席会议人员和召集人资格、表决程序 ...

特别提示： 本次股东会无否决议案的情形。 本次股东会不涉及变更以往股东会已通过的决议。 2024 年度股东会决议公告 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、会议召开和出席情况 （一）会议召开情况 证券代码：300857 证券简称：协创数据 公告编号：2025-045 协创数据技术股份有限公司 1、召开时间： （1）现场会议召开时间：2025年4月21日（星期一）14:00 （2）网络投票起止时间：2025年4月21日 其中，通过深圳证券交易所交易系统网络投票的具体时间为2025 年4月21日9:15-9:25，9:30-11:30，13:00-15:00；通过深圳证券交易 所互联网投票系统进行投票的具体时间为：2025年4月21日9:15至 15:00期间的任意时间。 2、现场会议召开地点：广东省深圳市福田区深南大道6023号耀 华创建大厦1座12层1209号房会议室。 3、会议召开方式：现场表决和网络投票相结合。 4、会议召集人：公司第三届董事会。 5、会议主持人：副董事长林坤煌先生。 6、本次会议的召开符合《中华人民共和国公司法》（以下简称" ...

证券代码：300857 证券简称：协创数据 公告编号：2025-044 协创数据技术股份有限公司 关于召开2024年度股东会的提示性公告 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。 协创数据技术股份有限公司（以下简称"公司"）第三届董事会 第三十三次会议审议通过了《关于提请召开2024年度股东会的议案》， 决定于2025年4月21日（星期一）召开公司2024年度股东会，并于2025 年4月1日在巨潮资讯网(www.cninfo.com.cn)发布了《关于召开2024 年度股东会的通知》(公告编号:2025-041)。为保护投资者权益，方 便公司股东行使股东会表决权，现将有关事项再次提示如下: 一、召开会议的基本情况 （一）股东会届次：2024年度股东会。 （二）股东会的召集人：第三届董事会。 （三）会议召开的合法、合规性：本次年度股东会的召集程序符 合有关法律、行政法规、规范性文件和《公司章程》的有关规定。 （四）会议召开的日期、时间： 1.现场会议召开日期、时间：2025年4月21日（星期一）14:00 1.现场表决：股东本人出席现场会议或者通过授权委托 ...

Core Viewpoint - The company has a small proportion of product revenue directly exported to the United States, with most products produced and delivered by overseas smart manufacturing bases [1] Group 1: Business Operations - The company's supply chain and cost control capabilities are outstanding, providing significant risk resistance advantages [1] - All smart manufacturing bases are orderly conducting various business activities to ensure timely and stable delivery of customer orders [1] Group 2: Strategic Initiatives - The company will continue to strengthen technological innovation and adhere to an international strategy, promoting the construction of a global R&D, marketing, and manufacturing system [1] - The company aims to leverage its first-mover advantage from international layout to actively respond to and seize challenges and opportunities arising from changes in international economic and trade conditions [1] Group 3: Policy Adaptation - The company will continuously monitor policy trends and actively adjust corresponding strategies based on the latest policy dynamics to minimize the impact of related matters on the company's stable development [1]

证券代码：300857 证券简称：协创数据 公告编号：2025-043 协创数据技术股份有限公司 关于"对等关税"政策调整对公司影响的 自愿性信息披露公告 公司客户覆盖欧洲、亚太地区、拉丁美洲等全球主要市场，产品 应用于智能家居、物联网设备、消费电子等多个领域，对单一区域的 依赖度较低。 二、公司供应链与成本管控能力突出，抗风险优势显著。 1.公司供应链多元化与国产化率高 公司业务的核心原材料采购渠道以国内供应商为主，同时在对关 键元器件的采购已建立了日本、韩国、欧洲等替代渠道，国际物流及 关税风险整体可控。 2. 柔性化生产与订单弹性管理 公司通过智能化产线实现快速产能切换，优先保障在手订单需求。 目前在手订单充足，各项业务均稳步推进中，预计盈利能力受到影响 较小。 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。 近日，美国政府宣布根据"对等关税"政策的新一轮加征关税计 划，引发市场高度关注。协创数据技术股份有限公司（以下简称"公 司"）密切关注相关政策动态，及时评估政策变化对公司业务的影响， 现就相关事项说明如下： 一、公司直接出口美国的产品收入占比较小， ...

Investment Rating - The report maintains a "Buy-A" rating for the company, indicating a strong potential for price appreciation in the coming months [1][7]. Core Insights - The company achieved a revenue of 7.41 billion yuan in 2024, representing a year-on-year growth of 59.08%, and a net profit of 692 million yuan, which is a significant increase of 140.80% compared to the previous year [3][9]. - The company's business segments, including data storage, AIoT terminals, server remanufacturing, and computing cloud services, are all experiencing rapid growth, contributing to an overall improvement in profitability [4][5]. - The gross margin for 2024 reached 17.36%, an increase of 3.79 percentage points from the previous year, driven by a higher proportion of high-margin businesses and improved supply chain management [4]. Financial Performance - The company reported a basic earnings per share (EPS) of 2.83 yuan for 2024, with projections for EPS of 4.43, 5.80, and 7.47 yuan for 2025, 2026, and 2027 respectively [2][7]. - The net profit margin for 2024 was 9.27%, up by 3.13 percentage points from the previous year, indicating enhanced operational efficiency [4][9]. - The company is expected to continue its growth trajectory, with projected revenues of 10.19 billion yuan in 2025, 13.18 billion yuan in 2026, and 16.76 billion yuan in 2027, reflecting a compound annual growth rate (CAGR) of 37.5% from 2024 to 2025 [9][11]. Business Segments - The data storage segment generated 4.46 billion yuan in revenue in 2024, a year-on-year increase of 54.98%, supported by investments in self-developed storage chips and server storage [4]. - The AIoT terminal segment saw revenues of 2.26 billion yuan, growing by 60.82%, with notable contributions from cloud video platforms and overseas smart security [4]. - The server remanufacturing business is expanding its production capacity, while the computing cloud services are establishing partnerships with leading companies in various sectors [5][6].

Investment Rating - The report maintains a "Buy-A" rating for the company, indicating a strong expected performance relative to the benchmark index [1][7]. Core Insights - The company achieved a revenue of 7.41 billion yuan in 2024, representing a year-on-year growth of 59.08%. The net profit attributable to shareholders reached 692 million yuan, a significant increase of 140.80% year-on-year [3][9]. - The company's data storage business saw a revenue of 4.46 billion yuan, growing by 54.98%, while the AIoT terminal business generated 2.26 billion yuan, up by 60.82% [4]. - The gross margin improved to 17.36%, an increase of 3.79 percentage points from the previous year, driven by a higher proportion of high-margin businesses and cost management [4]. Financial Performance - The company is projected to achieve earnings per share (EPS) of 4.43, 5.80, and 7.47 yuan for the years 2025, 2026, and 2027, respectively, with corresponding price-to-earnings (P/E) ratios of 20.52, 15.68, and 12.17 [7][9]. - The net profit margin for 2024 was 9.27%, an increase of 3.13 percentage points compared to the previous year [4][9]. - The company plans to invest up to 3 billion yuan in server procurement to enhance its computing power rental services, with a global network of 25 supercomputing centers established [5][9]. Business Segments - The data storage segment is expanding due to investments in self-developed storage chips and server storage for computing power [4]. - The AIoT terminal segment is growing rapidly, with significant contributions from cloud video platforms and overseas smart security [4]. - The server remanufacturing business is also gaining traction, with increasing sales and production capacity [4]. Future Outlook - The company is positioned to benefit from the growing demand for intelligent computing centers and computing power leasing, with partnerships established with leading enterprises in various sectors [5][6]. - The overall revenue forecast for the company is expected to reach 10.19 billion yuan in 2025, with a year-on-year growth rate of 37.5% [9].

Core Viewpoint - The company held its 2024 annual performance briefing, highlighting strong growth in revenue and net profit, alongside strategic developments in various business sectors, including AI, cloud services, and smart IoT devices [1][11][14]. Group 1: Financial Performance - In 2024, the company achieved a revenue of 74.10 billion yuan, representing a year-on-year increase of 59.08% [11][14]. - The net profit attributable to shareholders was 6.92 billion yuan, up 140.80% from the previous year [11][14]. - The net profit after deducting non-recurring gains and losses was 6.71 billion yuan, reflecting a growth of 144.33% year-on-year [11][14]. Group 2: Business Strategy and Development - The company is focusing on developing new capabilities in computing power and embodied intelligence, while maintaining its core business in storage devices and IoT terminals [1][5]. - The strategic core is centered around an "intelligent IoT ecosystem," integrating smart terminals, computing infrastructure, and cloud services [1][19]. - The company has established a comprehensive product system in the smart IoT terminal field, covering AIoT hardware, data storage terminals, edge computing devices, and smart control terminals [1][19]. Group 3: Market and Product Insights - The company is actively expanding its server recycling business, which is primarily aimed at sales rather than self-use [4][6]. - The demand for server recycling is strong, and the company is increasing its investment to enhance competitiveness in this area [4][6]. - The company’s overseas revenue is mainly derived from sales to regions such as Hong Kong, Singapore, and India, with a low proportion of direct sales to the U.S. [15][19]. Group 4: Future Outlook - The company plans to continue expanding its computing power service sector and aims to become a leading comprehensive cloud service platform globally [5][20]. - The company is also focusing on the development of service robots, including machine dogs and humanoid robots, to enhance its advanced manufacturing capabilities [2][5]. - The company is committed to maintaining a robust talent management system to support its growth and development [4][5].