华泰联合证券有限责任公司 关于慧博云通科技股份有限公司 2024 年度跟踪报告 | 保荐人名称：华泰联合证券有限责任公司 | 被保荐公司简称：慧博云通 | | --- | --- | | 保荐代表人姓名：李世静 | 联系电话：010-56839300 | | 保荐代表人姓名：耿玉龙 | 联系电话：010-56839300 | 一、保荐工作概述 | 项目 | 工作内容 | | --- | --- | | 1.公司信息披露审阅情况 | | | （1）是否及时审阅公司信息披露文件 | 是 | | （2）未及时审阅公司信息披露文件的次数 | 无 | | 2．督导公司建立健全并有效执行规章制度 | | | 的情况 | | | （1）是否督导公司建立健全规章制度（包括 但不限于防止关联方占用公司资源的制度、 | | | | 是 | | 募集资金管理制度、内控制度、内部审计制 | | | 度、关联交易制度） | | | （2）公司是否有效执行相关规章制度 | 是 | | 3.募集资金监督情况 | | | （1）查询公司募集资金专户次数 | 每月一次 | | （2）公司募集资金项目进展是否与信息披 | 是 | | 露文件一致 ...

证券代码：301316 证券简称：慧博云通 慧博云通科技股份有限公司 2025年5月13日投资者关系活动记录表 编号：2025-001 尊敬的投资者您好，公司 2024 年 TMT 行业收入同比增长 24.90%，金融 行业收入同比增长 35.62%，感谢您的关注。 6、慧博云通 2024 年在智能运维领域推出的容器云平台系统，已应用于 哪些银行客户？ | | 特定对象调研 分析师会议 | | | --- | --- | --- | | 投资者关系活动 | 媒体采访 业绩说明会 | | | 类别 | 新闻发布会 路演活动 | | | | 现场参观 | | | | 其他 | | | 参与单位名称及 | 线上参与慧博云通科技股份有限公司（以下简称"公司"或"慧博云通"）2024 | | | 人员姓名 | 年度业绩说明会的全体投资者 | | | 时间 | 2025 年 月 13 日（星期二）下午 15:00-17:00 | 5 | | 地点 | 全景网"投资者关系互动平台"（https://ir.p5w.net） | | | 上市公司接待人 | 1、董事长、首席执行官余浩先生； | | | 员姓名 ...

Group 1 - Huibo Yuntong (301316.SZ) plans to acquire control of Baode Computer Systems Co., Ltd. through a combination of share issuance and cash payment, aiming to expand from IT services to intelligent computing hardware [1][2] - The acquisition is expected to create a new paradigm of software-hardware integration for the Xinchuang industry ecosystem [1][5] - Huibo Yuntong has established long-term partnerships with major global companies such as ByteDance, Xiaomi, and Alibaba, and reported a revenue of 1.743 billion yuan in 2024, a year-on-year increase of 28.3% [3] Group 2 - Baode Computer, founded in 2003 with a registered capital of 668 million yuan, is a leading provider of ARM server solutions in China and has deep ties with Huawei [4] - The company has been a key player in the Xinchuang field, recognized as a "Kirin Preferred Hardware Partner" and has collaborated with various domestic chip manufacturers [4] - The transaction is seen as a strategic move to reshape the Xinchuang industry landscape, addressing the need for integrated software and hardware solutions [5][6] Group 3 - The integration of software and hardware capabilities is becoming essential for the upgrade and restructuring of the Xinchuang industry, as evidenced by successful precedents in the market [6][7] - The partnership between Huibo Yuntong and Baode Computer is viewed as a critical step in seizing opportunities within the rapidly evolving Xinchuang sector, potentially creating a significant player with comprehensive capabilities [7][8] - Huibo Yuntong's market-oriented approach and experience with large enterprises may enhance the commercialization of Xinchuang devices, particularly in AI applications [8]

慧博云通科技股份有限公司 公 告 证券代码：301316 证券简称：慧博云通 公告编号：2025-040 截至本公告披露日，公司会同交易各方及主要中介机构正在就本次交易全面开展交 易方案协商、尽职调查等相关工作，目前交易正在有序推进中。鉴于本次交易的相关事 项尚存在不确定性，为维护投资者利益，避免公司股价异常波动，根据深圳证券交易所 的相关规定，公司股票继续停牌。 停牌期间，公司将积极推进各项工作，并根据本次交易相关事项的进展情况及时履 行信息披露义务。待相关事项确定后，公司将及时向深圳证券交易所提交并披露符合相 关规定的文件并申请股票复牌。公司所有信息均以在指定信息披露媒体披露的内容为准， 本次交易尚存在不确定性，敬请广大投资者关注公司后续公告并注意投资风险。 慧博云通科技股份有限公司 公 告 特此公告。 慧博云通科技股份有限公司董事会 关于筹划发行股份及支付现金购买资产并募集配套资金 事项的停牌进展公告 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。 慧博云通科技股份有限公司（以下简称"公司"）正在筹划发行股份及支付现金购 买资产并募集配套资金事项（以下简 ...

慧博云通科技股份有限公司 关于筹划发行股份及支付现金购买资产并募集配套资金 事项的停牌进展公告 慧博云通科技股份有限公司 公 告 证券代码：301316 证券简称：慧博云通 公告编号：2025-040 慧博云通科技股份有限公司 公 告 特此公告。 慧博云通科技股份有限公司董事会 2025年5月12日 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。 1 慧博云通科技股份有限公司（以下简称"公司"）正在筹划发行股份及支付现金购 买资产并募集配套资金事项（以下简称"本次交易"）。因有关事项尚存在不确定性， 为了维护投资者利益，避免对公司证券交易造成重大影响，根据深圳证券交易所的相关 规定，经公司申请，公司证券（证券品种：A 股股票，证券简称：慧博云通，证券代码： 301316）自 2025 年 5 月 6 日开市时起开始停牌。 公司预计在不超过 10 个交易日的时间内，即在 2025 年 5 月 20 日前按照《公开发 行证券的公司信息披露内容与格式准则第 26 号——上市公司重大资产重组》的要求披 露相关信息，并申请公司股票复牌。具体内容详见公司 2025 年 5 ...

Core Viewpoint - The acquisition of Baode Computer by Huibo Yuntong may face uncertainties, as only a few minority shareholders have expressed intent to transfer their shares, and the ability to secure controlling interest remains to be seen. Additionally, the company's major shareholder is approaching a significant share unlock period, raising questions about the motivations behind restarting the merger and acquisition process. Huibo Yuntong has experienced poor earnings quality since its IPO, with some shareholders frequently reducing their stakes [1][6][11]. Group 1: Acquisition Details - Huibo Yuntong announced plans to issue shares and pay cash to acquire control of Baode Computer, while also raising supporting funds. The transaction is not expected to change the actual controller of the company [1][4]. - The identified transaction counterparties include several minority shareholders, but the largest shareholder, Horgos Baode Venture Capital Co., Ltd., which holds 38.2331% of shares, has not indicated any intention to transfer shares [2][4]. Group 2: Company Performance - Huibo Yuntong's financial performance has shown revenue growth without corresponding profit increases. The net profit margin has declined from 9.63% in 2020 to 6.91% in 2024, with a first-quarter net profit margin of only 0.4% [6][10]. - For the fiscal year 2024, Huibo Yuntong reported total revenue of 1.743 billion yuan, a year-on-year increase of 28.30%, but a net profit of 66 million yuan, down 20.45% year-on-year. The first quarter of 2025 saw revenue of 506 million yuan, a 37.46% increase, but a net profit decline of 72.13% [10][11]. Group 3: Shareholder Actions - In light of the company's declining performance quality, some shareholders have begun to reduce their holdings. For instance, Guizhou Yunli High-tech Industry Investment Partnership reduced its stake by approximately 1.10 million shares, representing 0.99988% of the total share capital [11][12]. - Ningbo Heyitongda Venture Capital Partnership also reduced its holdings by 400,000 shares, accounting for 1% of the total share capital, with a total of 1.549 million shares sold over the past year [11][12].

Core Insights - Huibo Yuntong (301316.SZ) announced a suspension of trading on May 5, 2025, to plan the acquisition of control over Baode Computer System Co., Ltd. through a combination of share issuance and cash payment, along with raising supporting funds. This transaction aims to facilitate Huibo Yuntong's deep transformation from IT services to the hardware computing power sector [1] - Huibo Yuntong, established in March 2009 and listed on the ChiNext board in October 2022, reported a 28.30% year-on-year revenue growth in 2024, but a 20.45% decline in net profit, indicating a "revenue growth without profit" dilemma [1] - Baode Computer, founded in 2003 with a registered capital of 668 million yuan, specializes in the R&D, production, and sales of servers and PCs, and offers comprehensive solutions. The company is a leader in the ARM server market in China and ranks among the top three in the AI server sector [1] - The market perceives Huibo Yuntong as having significant advantages in software technology services, while Baode Computer is a leader in the server field. The merger is expected to promote a software-hardware integration strategy, enhancing full-stack service capabilities and generating positive strategic synergies [1] Company and Industry Summary - Huibo Yuntong's transition towards hardware computing power represents a strategic shift in its business model, aiming to leverage its software service strengths alongside Baode Computer's hardware capabilities [1] - Baode Computer's strong position in the server market, particularly in AI and ARM servers, complements Huibo Yuntong's existing offerings, potentially leading to enhanced market competitiveness [1] - The acquisition is still in the planning stage, with uncertainties regarding the finalization of the transaction and the parties involved, highlighting the need for careful monitoring of the deal's progress [2]

慧博云通科技股份有限公司 公 告 证券代码：301316 证券简称：慧博云通 公告编号：2025-039 本次活动将采用网络远程的方式举行，投资者可登录"全景路演"网站 （https://rs.p5w.net），或关注微信公众号：全景财经，或下载全景路演 APP，参与本次 互动交流，活动时间为 2025 年 5 月 13 日（周二）15:00-17:00。届时公司部分董事、高 级管理人员（具体以当天出席为准）将在线就公司 2024 年度业绩、公司治理、发展战 略、经营状况、股权激励和可持续发展等相关问题，在信息披露允许的范围内与投资者 进行沟通与交流，欢迎广大投资者踊跃参与！ 为充分尊重投资者、提升交流的针对性，现提前向投资者公开征集交流问题，广泛 听取投资者的意见和建议。投资者可于 2025 年 5 月 12 日（星期一）15:00 前访问"全 景路演"网站（http://ir.p5w.net/zj/），进入问题征集专题页面，提交您所关心的问题。公 司将在活动上对投资者普遍关注的问题进行回答，欢迎广大投资者踊跃参与！ 特此公告。 慧博云通科技股份有限公司董事会 慧博云通科技股份有限公司 关于参加浙江辖区上市 ...

Core Viewpoint - Huibo Yuntong (301316.SZ) announced a suspension of trading to plan a share issuance and cash payment to acquire control of Baode Computer System Co., Ltd. (hereinafter referred to as "Baode Computer") while raising matching funds. The transaction will not lead to a change in the actual controller, and specific plans are pending disclosure [2][3]. Group 1: Acquisition Details - The acquisition aims to gain control of Baode Computer, but the leading party is the small shareholders of Baode Computer, specifically five limited partnership enterprises from Tianjin, holding approximately 12.76% of the shares [3][4]. - The major shareholder, Horgos Baode Venture Capital Co., Ltd. (holding 38.23%), will not participate in the transaction, complicating the acquisition process as Huibo Yuntong needs the consent of a majority of shareholders to gain control [3][6]. - Baode Computer has a total of 50 shareholders, with only two holding more than 10% of the shares, indicating a dispersed ownership structure that poses challenges for Huibo Yuntong in acquiring the necessary control [4][6]. Group 2: Market Context and Challenges - Baode Computer is a domestic provider of computing product solutions, ranking among the top five domestic brands in the Chinese server market, with annual sales revenue around 10 billion yuan [7]. - The company was previously part of Baode Technology Group, which was listed in Hong Kong but was privatized in 2020. Baode Computer has been preparing for an independent IPO since September 2021 [7][9]. - The recent shift from IPO to acquisition raises questions about the motivations of the small shareholders and the potential for a compromise with the major shareholder, which could affect the core assets of Baode Computer [9][11]. Group 3: Financial Performance of Huibo Yuntong - Since its listing in 2022, Huibo Yuntong has undergone seven acquisitions, focusing on expanding its presence in the financial technology sector [13]. - The company has seen revenue growth driven by acquisitions, with reported revenues of 1.18 billion yuan, 1.36 billion yuan, and 1.74 billion yuan from 2022 to 2024, but net profits have declined from 89.35 million yuan to 65.58 million yuan during the same period [13][14]. - In the first quarter of 2025, Huibo Yuntong reported revenue of 505 million yuan, a 37% year-on-year increase, but net profit fell by 70%, indicating pressure on profitability and increasing financial leverage [14].

Summary of Key Points Core Insights - The report highlights various companies undergoing temporary suspensions of trading due to different reasons, including financial disclosures and potential delisting risks. This indicates a volatile market environment where investor confidence may be affected by such events [2][3][4]. Company Specifics - ST Jiuzhi (000989) announced a temporary suspension of trading on May 6, 2025, due to the cancellation of other risk warnings [2]. - In the case of ST Gongzhi (000584), trading was suspended due to a risk warning regarding potential delisting, effective from April 28, 2025 [2]. - ST Hengli (000622) and Tianmao Group (000627) also faced trading suspensions due to their inability to disclose periodic reports within the legal timeframe, effective from May 6, 2025 [2]. - Binhai Energy (000695) is undergoing a trading suspension as it plans to issue shares for asset acquisition and raise matching funds, effective from April 30, 2025 [2]. - Electric Power Investment Energy (002128) is also suspended for similar reasons related to asset acquisition and related party transactions, effective from May 6, 2025 [2]. Industry Context - The report reflects a broader trend in the market where companies are facing increased scrutiny and regulatory challenges, leading to trading suspensions. This could signal potential investment risks in the affected sectors [2][3][4].