一、会议召开和出席情况 证券代码：920808 证券简称：曙光数创 公告编号：2025-096 曙光数据基础设施创新技术（北京）股份有限公司 第四届董事会第十五次会议决议公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、 误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连 带法律责任。 （一）会议召开情况 1.会议召开时间：2025 年 12 月 9 日 2.会议召开地点：公司会议室 3.会议召开方式：现场及通讯方式 4.发出董事会会议通知的时间和方式：2025 年 12 月 6 日以书面方式发出 5.会议主持人：任京暘 6.会议列席人员：公司高级管理人员 7.召开情况合法合规的说明： 本次会议的召开符合《公司法》和《公司章程》的有关规定。 （二）会议出席情况 会议应出席董事 7 人，出席和授权出席董事 7 人。 4.提交股东会表决情况： 本议案尚需提交股东会审议。 （二）审议通过《关于募集资金投资项目结项并将节余募集资金永久补充流动资 金》的议案 董事高志勇、郭帅、牟浴因工作原因以通讯方式参与表决。 二、议案审议情况 （一）审议通过《关于变更部分募投项目实施方式》 ...

Core Viewpoint - The North Exchange 50 Index experienced a significant surge on December 11, reaching a peak of 1482.59 points, with an intraday increase of 6.68% [1][2]. Market Performance - The closing price on December 11 was 1479.69, with a previous close of 1389.80, resulting in a rise of 89.89 points or 6.47% [2]. - The trading volume was 8.54 billion, and the total transaction amount reached 186.08 billion [2]. - The index's price-to-earnings ratio stood at 70.31, while the price-to-book ratio was 5.16 [2]. Key Stocks - Among the major constituents, Tianli Composite hit a 30% limit up, while other stocks like Xingtum Measurement Control, Fujida, and Tianma New Materials rose over 10% [4][7]. - Specific stock performances included: - Tianli Composite: Current price 46.80, up 10.80, a 30% increase [7]. - Xingtum Measurement Control: Current price 93.98, up 15.10, a 19.14% increase [7]. - Fujida: Current price 38.95, up 4.52, a 13.13% increase [7]. - Tianma New Materials: Current price 34.08, up 3.90, a 12.92% increase [7].

Group 1 - The North Securities 50 Index experienced a significant surge, increasing nearly 7% to reach 1481.95 points, with all 50 constituent stocks rising [1] - Tianli Composite (920576) achieved a "30cm" limit-up, indicating strong market performance [3] - A regular adjustment of the North Securities Index sample stocks and candidate list is scheduled to take effect on December 15, 2025, which will include companies such as Wuxin Tunnel Equipment, Better Energy, Airosoft, Shuguang Digital Innovation, Anda Technology, and Jinbo Biology [3]

证券之星消息，12月10日计算机设备板块较上一交易日下跌1.67%，中科曙光领跌。当日上证指数报收于3900.5，下跌0.23%。深证成指报收于 13316.42，上涨0.29%。计算机设备板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | | --- | --- | --- | --- | --- | --- | --- | | 603106 | 恒银科技 | 12.10 | 5.95% | 65.02万 | | 7.90亿 | | 300790 | 宇瞳光学 | 31.14 | 5.49% | 28.69万 | | 8.88亿 | | 300275 | 梅安森 | 13.59 | 3.50% | 16.00万 | | 2.15亿 | | 300155 | 安居宝 > | 6.15 | 3.36% | 31.20万 | | 1.88亿 | | 300324 | 旋极信息 | 6.47 | 3.35% | 180.63万 | | 11.40亿 | | 300771 | 智莱科技 | 13.86 | 3.28% | 17.43万 | | 2.37亿 | ...

Summary of Key Points Core Viewpoint - The trading volume on the Beijing Stock Exchange (BSE) reached 608 million shares with a total transaction value of 13.279 billion yuan, reflecting a decrease of 648 million yuan compared to the previous trading day. A total of 94 stocks closed higher, while 186 stocks closed lower [1]. Trading Performance - The number of stocks that closed higher was 94, accounting for 32.98% of the tradable stocks. The top gainers included Kaide Quartz, Tianli Composite, and Tianye Co., with increases of 12.19%, 7.78%, and 6.22% respectively [1]. - Conversely, 186 stocks experienced declines, with the largest drops seen in Shuguang Digital Innovation, Huifeng Diamond, and Jilin Carbon Valley, which fell by 7.98%, 6.11%, and 5.62% respectively [1]. Transaction Details - A total of 31 stocks had transaction values exceeding 100 million yuan, with the highest being Jinbo Biological, Xingtou Measurement and Control, and Shuguang Digital Innovation, which recorded transaction values of 443 million yuan, 431 million yuan, and 410 million yuan respectively [1]. - The trading activity showed that 12 stocks had a turnover rate exceeding 10%, with 2 stocks exceeding 20%. Additionally, 23 stocks had turnover rates between 5% and 10%, while 204 stocks had turnover rates between 1% and 5% [1]. Notable Stocks - The stocks with the highest turnover rates included Dapeng Industrial at 38.02%, Jingchuang Electric at 22.52%, and Zhu Laoliu at 17.95% [1]. - Specific stock performance details include: - Jinbo Biological: Closing price of 245.95 yuan, up 5.42%, turnover rate of 3.32%, transaction value of 443 million yuan [1]. - Xingtou Measurement and Control: Closing price of 78.88 yuan, up 1.58%, turnover rate of 13.39%, transaction value of 431 million yuan [1]. - Shuguang Digital Innovation: Closing price of 77.37 yuan, down 7.98%, turnover rate of 2.78%, transaction value of 410 million yuan [1].

海光信息2025年6月9日晚间披露的换股吸收合并曙光信息产业股份有限公司并募集配套资金暨关联交易 预案显示，本次交易的具体实现方式为海光信息换股吸收合并中科曙光。海光信息为吸收合并方，中科 曙光为被吸收合并方，即海光信息向中科曙光的全体换股股东发行A股股票，交换该等股东所持有的中 科曙光股票。 中国经济网北京12月10日讯海光信息(688041.SH)今日开盘跌3.32%，收盘跌0.36%报218.50元；中科曙 光（603019）(603019.SH)今日开盘跌停，跌幅10.00%，收盘跌10.00%报90.12元；曙光数创(920808.BJ) 今日开盘跌4.80%，收盘跌7.98%报77.37元。 海光信息昨晚披露了关于终止重大资产重组的公告。海光信息于2025年12月9日召开公司第二届董事会 第十七次会议审议通过了《关于终止换股吸收合并曙光信息产业股份有限公司并募集配套资金暨关联交 易的议案》，同意公司终止通过向曙光信息产业股份有限公司(以下简称"中科曙光")全体A股换股股东 发行A股股票的方式换股吸收合并中科曙光并募集配套资金(以下简称"本次交易")，并授权公司管理层 办理本次终止相关事宜。 中科曙 ...

证券代码：920808 证券简称：曙光数创 公告编号：2025-094 发行A股股票的方式换股吸收合并中科曙光。海光信息为合并方，中科曙光为被 合并方，即海光信息向中科曙光的全体换股股东发行A股股票，交换该等股东所 持有的中科曙光股票。本次换股吸收合并完成后，中科曙光将终止上市，海光 信息将承继及承接中科曙光的全部资产、负债、业务、人员、合同及其他一切 权利与义务。 曙光数据基础设施创新技术（北京）股份有限公司 关于收到海光信息技术股份有限公司取消筹划要约收购事项通知函 的公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记 载、误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担个 别及连带法律责任。 重要内容提示： 曙光数据基础设施创新技术（北京）股份有限公司（以下简称"曙光数 创"或"公司"）于2025年12月9日收到海光信息技术股份有限公司（以下简称 "海光信息"或"收购人"）发来的《取消筹划要约收购事项通知函》，获 悉：自海光信息换股吸收合并中科曙光交易启动以来，由于市场环境较本次交 易筹划之初发生较大变化，本次实施重大资产重组的条件尚不成熟，为切实维 护上市公司和广大投 ...

Group 1 - The core viewpoint of the news highlights significant growth in the cloud computing and robotics ETFs, with the Tianhong Cloud Computing ETF (517390) showing a notable increase in trading volume and market performance [1][3] - The Tianhong Cloud Computing ETF (517390) experienced a 3-month scale growth of 15.21 million yuan, indicating strong investor interest and market confidence [1] - The Tianhong Cloud Computing ETF tracks the CSI Hong Kong-Shenzhen Cloud Computing Industry Index (931470), which rose by 3.45%, with key stocks like Xinyi Technology (300502) and Zhongji Xuchuang (300308) showing substantial gains of 8.05% and 7.55% respectively [1] Group 2 - The Robotics ETF (159770) also demonstrated significant performance, with a trading volume of 333 million yuan and a net subscription of 43.5 million shares during the trading session [1][3] - Over the past week, the Robotics ETF (159770) saw a scale increase of 74.42 million yuan, and in the last month, it gained 23.6 million shares, reflecting strong demand [3] - The Robotics ETF closely follows the CSI Robotics Index (H30590), which rose by 0.97%, with notable stock performances from companies like Haimao Star (688559) and Jingye Intelligent (688290) [1][3] Group 3 - The news also mentions the launch of the "Yufeng" intelligent regulatory platform by Yipay at the Digital Intelligence Technology Ecological Conference, showcasing advancements in AI and cloud computing for risk management [5] - A joint venture between UBTECH and the Beijing Humanoid Robot Innovation Center established Tianyou Robotics Company, focusing on the humanoid robotics sector, with a registered capital of 10 million yuan [6] - CICC expresses optimism for technology growth investments in 2026, emphasizing opportunities in the mechanical industry driven by technological innovation and domestic demand recovery [6]

Summary of Conference Call on Liquid Cooling Technology in Data Centers Industry Overview - The conference call focused on the liquid cooling technology in data centers, particularly its application in high-performance computing and the growing demand for efficient cooling solutions due to increasing chip power consumption [1][2]. Key Insights and Arguments - **Market Penetration**: The penetration rate of liquid cooling in GB200 servers is expected to reach 75%, while GB300 is nearing 100%. This indicates a significant increase in liquid cooling adoption by 2026, driven by NVIDIA's GPU series, which is predominantly shipped in liquid-cooled configurations [1][2]. - **Growth Projections**: The GPU cabinet shipment volume is projected to be between 100,000 to 120,000 units by 2026, corresponding to a market size of approximately $10 billion. The ASIC server shipment is expected to reach 8 million units, with a 40% penetration rate translating to a market size of about $3.9 billion. The combined market for GPU and ASIC servers is anticipated to exceed $15 billion, with a compound annual growth rate (CAGR) of around 55% from 2025 to 2026 [1][7]. - **Cooling Technology Trends**: The choice of cooling solutions is primarily based on heat flux density and cabinet power consumption. Liquid cooling is becoming essential for high-power chips, although cost considerations may lead some users to opt for suboptimal solutions like air cooling [1][4]. Important but Overlooked Content - **Supply Chain Dynamics**: The expansion of the liquid cooling market is driving demand for components, with key suppliers such as Chi Hong, Shuang Hong, and Coolmaster ramping up production in Southeast Asia. The main suppliers for CDU (Cooling Distribution Unit) include Weidi and Baode, with Sidecar being the predominant configuration [3][8]. - **Domestic Companies' Prospects**: Domestic firms like Yingweike have entered the supply chains of NVIDIA and Google, positioning themselves as potential leading manufacturers. Yingweike has received order guidance from NVIDIA for 2026, including a 3-4% share of quick connectors, translating to an estimated revenue of $500 million, along with $200 million from CDU contributions [3][9]. - **Technological Advancements**: NVIDIA is developing microchannel liquid cooling technology to enhance cooling efficiency, expected to mature by Q4 2026. Google has implemented advanced cooling techniques that adapt to AI training load fluctuations, ensuring reliable thermal management [5][6]. Conclusion - The liquid cooling technology in data centers is poised for significant growth, driven by increasing power demands of chips and advancements in cooling solutions. The market dynamics indicate a robust expansion of both the technology and the associated supply chain, with domestic players gaining traction in a competitive landscape [1][3][9].

Core Insights - As of December 4, the total margin financing and securities lending balance on the Beijing Stock Exchange (BSE) was 7.516 billion yuan, a decrease of 9.0086 million yuan from the previous trading day, marking a continuous decline for three consecutive trading days [1] - The stocks with the highest margin financing balances included Jinbo Biological, Shuguang Digital Innovation, and Better Energy, with latest balances of 408 million yuan, 343 million yuan, and 313 million yuan respectively [1] - A total of 143 stocks on the BSE received net margin purchases on December 4, with 24 stocks having net purchases exceeding 1 million yuan, led by Chuangyuan Xinke with a net purchase of 7.9072 million yuan [1][2] Margin Financing Overview - The margin financing balance on December 4 was 7.515 billion yuan, down by 8.9486 million yuan from the previous day [1] - The securities lending balance was 634,100 yuan, a decrease of 60,000 yuan [1] - The average margin financing balance as a percentage of market capitalization for the top stocks was 1.40%, with leading stocks like Chenguang Cable, Audiwei, and Haidaer having ratios of 5.06%, 4.59%, and 4.10% respectively [1] Industry Performance - The industries with the highest concentration of stocks receiving net margin purchases over 1 million yuan were computer, electronics, and power equipment, with 4, 3, and 3 stocks respectively [2] - On December 4, stocks with net margin purchases over 1 million yuan had an average decline of 0.96%, with the top gainers being Sanxie Electric, Chuangyuan Xinke, and Fujida, which increased by 17.59%, 6.84%, and 1.82% respectively [2] - The average turnover rate for stocks with net margin purchases over 1 million yuan was 3.72%, with the highest turnover rates recorded for Sanxie Electric, Gais Food, and Chuangyuan Xinke at 39.13%, 14.54%, and 14.41% respectively [2] Notable Stocks - Stocks with the largest increases in margin financing on December 4 included Chuangyuan Xinke (increase of 7.9072 million yuan), Sanxie Electric (increase of 4.8019 million yuan), and Kaiter Co. (increase of 4.3903 million yuan) [2][3] - Other notable stocks with significant margin financing balances included Better Energy (31.332 billion yuan), Fujida (7.876 billion yuan), and Audiwei (14.560 billion yuan) [2][3]