股票代码：600590 股票简称：泰豪科技 公告编号：临 2025-048 泰豪科技股份有限公司 第九届监事会第五次会议决议公告 表决结果：同意 3 票、反对 0 票、弃权 0 票。 本议案尚需提请公司股东大会审议，且为特别决议议案。 本公司监事会及全体监事保证本公告内容不存在任何虚假记载、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法律责任。 泰豪科技股份有限公司 泰豪科技股份有限公司（以下简称"公司"）第九届监事会第五次会议于 2025 年 7 月 16 日以视频会议方式召开，本次会议的会议通知和会议材料于 2025 年 7 月 11 日以邮件方式发出，本次会议应到监事 3 人，实到监事 3 人。本次会议由 监事会主席饶琛敏女士主持，本次会议的召集、召开和表决程序符合《中华人民 共和国公司法》和《公司章程》等的有关规定。会议形成决议如下： 监 事 会 一、审议通过《关于取消监事会并修订<公司章程>的议案》； 具体内容详见公司同日于上海证券交易所网站（http://www.sse.com.cn） 披露的《公司章程》和《关于取消监事会并修订公司章程及相关制度的公告》（公 告编号：临 202 ...

泰豪科技股份有限公司（以下简称"公司"）第九届董事会第五次会议于 2025 年 7 月 16 日以视频会议方式召开，本次会议的会议通知和会议材料于 2025 年 7 月 11 日以邮件方式发出，本次会议应到董事 6 人，实到董事 6 人。本次会议由 董事长李自强先生主持，本次会议的召集、召开和表决程序符合《中华人民共和 国公司法》和《公司章程》的有关规定。会议形成决议如下： 一、审议通过《关于取消监事会并修订<公司章程>的议案》； 经审议，董事会同意公司根据相关法律法规、规范性文件的最新规定，修订 《公司章程》，并取消监事会，监事会职权由董事会审计委员会行使。原有的《公 司章程》附件《监事会议事规则》自本次《公司章程》修订生效之日起同时废止。 本议案尚需提请公司股东大会审议，且为特别决议议案。 公司董事会提请公司股东大会授权管理层及具体经办人员办理相关工商变 更登记等事宜。《公司章程》变更最终以工商登记机关核准的内容为准。 股票代码：600590 股票简称：泰豪科技 公告编号：临 2025-047 泰豪科技股份有限公司 第九届董事会第五次会议决议公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误 ...

Summary of AIDC Industry Conference Call Industry Overview - The conference call focuses on the AIDC (Artificial Intelligence Data Center) industry, particularly the impact of NVIDIA's H20 chip and other technological advancements on the market demand and infrastructure development in China and globally [1][2][4]. Key Points and Arguments 1. **NVIDIA's H20 Chip and RTX Pro GPU**: - NVIDIA's H20 chip is expected to be quickly exported to China, which will significantly boost domestic IDC bidding and demand for the AIDC electrical equipment supply chain in the second half of the year [1][2]. - The introduction of the RTX Pro GPU, designed for computer graphics and AI, is anticipated to further stimulate the market [2]. 2. **AI Computing Power Demand**: - There is an unexpected surge in AI computing power demand, driven by major internet companies' token growth, such as a 500% increase for Microsoft and a 50-fold increase for Google [1][5]. - Domestic companies like Doubao have also seen a fourfold increase in daily average token volume, indicating a robust demand for computing infrastructure [5]. 3. **Global Data Center Trends**: - The global data center vacancy rate has decreased by 2% year-on-year to below 7% as of Q1 2025, reflecting strong demand for data center construction [6]. - Major projects include Meta's plan to expand its AI computing data center with a fundraising target of $29 billion and Century Internet's plan to build ten large-scale computing center clusters over the next decade [6]. 4. **Capital Expenditure (CAPEX) Insights**: - Domestic CAPEX in the first half of the year fell short of expectations, impacting the IDC custom equipment supply chain due to supply-side constraints, particularly chip bans [7]. - However, the anticipated release of the H20 chip and advancements in B30 and domestic chip testing are expected to improve IDC construction demand in the second half of the year [7]. 5. **Power Supply Technology Trends**: - There is a notable shift from AC to DC power supply technology in IDC, with major companies like Alibaba and Tencent adopting HVDC technology [3][9]. - NVIDIA's next-generation products will also utilize DC power, indicating a clear trend that benefits leading power supply companies [9]. 6. **AIGC Market Landscape**: - The AIGC (Artificial Intelligence Generated Content) related electrical equipment market is stable, with leading companies like Mianyang Weather and Jinman Technology experiencing rapid order growth [8]. 7. **Domestic Companies' Competitive Edge**: - Domestic companies are noted for their speed in product development and cost control, enhancing their competitiveness in both domestic and international markets [10]. - The transition to DC power supply is expected to increase the value of certain components, benefiting related companies [10]. 8. **Key Players in ADC Sector**: - Notable companies actively positioning themselves in the ADC sector include Kehua Shenghong, Keda, and Zhongheng in China, and international players like Maimi and Hongfa [11]. 9. **NVIDIA's Recent Developments**: - NVIDIA's announcement regarding the sale of the H20 chip to China and the launch of new GPUs is seen as a positive shift for the IDC industry, alleviating previous negative sentiments [12]. 10. **Prospects for Domestic Computing Power**: - The outlook for domestic computing power testing and application is optimistic, with expectations of improved performance and pricing in the coming months [17]. Additional Important Insights - The overall sentiment in the IDC industry is shifting positively, with expectations of increased bidding and construction activity in the second half of the year due to technological advancements and market demand [2][7][12]. - The focus on sustainable energy solutions and policies supporting green electricity is also highlighted as a significant growth area for related companies [10].

[Important Content Highlights](index=1&type=section&id=%E9%87%8D%E8%A6%81%E5%86%85%E5%AE%B9%E6%8F%90%E7%A4%BA) Taihao Technology expects to turn a profit in the first half of 2025, with net profit attributable to shareholders projected between 95 million and 120 million yuan, and non-recurring net profit between 45 million and 60 million yuan - The company anticipates **turning a profit** in the first half of 2025 regarding net profit attributable to shareholders[2](index=2&type=chunk) Performance Forecast (Million Yuan) | Metric | Estimated Amount (Million Yuan) | | :--- | :--- | | Net Profit Attributable to Shareholders of Listed Company | 95 to 120 | | Net Profit Attributable to Shareholders of Listed Company After Deducting Non-Recurring Gains and Losses | 45 to 60 | [I. Current Period Performance Forecast](index=1&type=section&id=%E4%B8%80%E3%80%81%E6%9C%AC%E6%9C%9F%E4%B8%9A%E7%BB%A9%E9%A2%84%E5%91%8A%E6%83%85%E5%86%B5) This section details the performance forecast period for the first half of 2025 and specific financial projections, confirming the company's expected turnaround to profitability, and notes that this forecast is unaudited [ (1) Performance Forecast Period](index=1&type=section&id=%EF%BC%88%E4%B8%80%EF%BC%89%E4%B8%9A%E7%BB%A9%E9%A2%84%E5%91%8A%E6%9C%9F%E9%97%B4) - The performance forecast period is from **January 1, 2025, to June 30, 2025**[3](index=3&type=chunk) [ (2) Performance Forecast Details](index=1&type=section&id=%EF%BC%88%E4%BA%8C%EF%BC%89%E4%B8%9A%E7%BB%A9%E9%A2%84%E5%91%8A%E6%83%85%E5%86%B5) - The company anticipates **turning a profit** in the first half of 2025 regarding net profit attributable to shareholders[3](index=3&type=chunk) Performance Forecast (Million Yuan) | Metric | Estimated Amount (Million Yuan) | | :--- | :--- | | Net Profit Attributable to Shareholders of Listed Company | 95 to 120 | | Net Profit Attributable to Shareholders of Listed Company After Deducting Non-Recurring Gains and Losses | 45 to 60 | [ (3) This Performance Forecast is Unaudited by Certified Public Accountants](index=1&type=section&id=%EF%BC%88%E4%B8%89%EF%BC%89%E6%9C%AC%E6%AC%A1%E4%B8%9A%E7%BB%A9%E9%A2%84%E5%91%8A%E6%9C%AA%E7%BB%8F%E6%B3%A8%E5%86%8C%E4%BC%9A%E8%AE%A1%E5%B8%88%E5%AE%A1%E8%AE%A1) - This performance forecast has **not been audited** by certified public accountants[3](index=3&type=chunk) [II. Performance in the Same Period Last Year](index=1&type=section&id=%E4%BA%8C%E3%80%81%E4%B8%8A%E5%B9%B4%E5%90%8C%E6%9C%9F%E4%B8%9A%E7%BB%A9%E6%83%85%E5%86%B5) This section presents the company's financial performance for the same period last year (first half of 2024), showing losses in total profit, net profit attributable to shareholders, and earnings per share, providing a benchmark for the current period's turnaround [ (1) Total Profit, Net Profit Attributable to Shareholders, and Net Profit After Deducting Non-Recurring Gains and Losses](index=1&type=section&id=%EF%BC%88%E4%B8%80%EF%BC%89%E5%88%A9%E6%B6%A6%E6%80%BB%E9%A2%9D%EF%BC%9B%E5%BD%92%E5%B1%9E%E4%BA%8E%E4%B8%8A%E5%B8%82%E5%85%AC%E5%8F%B8%E8%82%A1%E4%B8%9C%E7%9A%84%E5%87%80%E5%88%A9%E6%B6%A6%EF%BC%9B%E5%BD%92%E5%B1%9E%E4%BA%8E%E4%B8%8A%E5%B8%82%E5%85%AC%E5%8F%B8%E8%82%A1%E4%B8%9C%E7%9A%84%E6%89%A3%E9%99%A4%E9%9D%9E%E7%BB%8F%E5%B8%B8%E6%80%A7%E6%8D%9F%E7%9B%8A%E7%9A%84%E5%87%80%E5%88%A9%E6%B6%A6) Prior Period Performance (Million Yuan) | Metric | Amount (Million Yuan) | | :--- | :--- | | Total Profit | -12.97 | | Net Profit Attributable to Shareholders of Listed Company | -59.33 | | Net Profit Attributable to Shareholders of Listed Company After Deducting Non-Recurring Gains and Losses | 7.24 | [ (2) Earnings Per Share](index=1&type=section&id=%EF%BC%88%E4%BA%8C%EF%BC%89%E6%AF%8F%E8%82%A1%E6%94%B6%E7%9B%8A) Prior Period Earnings Per Share | Metric | Amount (Yuan/Share) | | :--- | :--- | | Earnings Per Share | -0.0696 | [III. Main Reasons for Expected Profit in Current Period](index=1&type=section&id=%E4%B8%89%E3%80%81%E6%9C%AC%E6%9C%9F%E4%B8%9A%E7%BB%A9%E9%A2%84%E7%9B%88%E7%9A%84%E4%B8%BB%E8%A6%81%E5%8E%9F%E5%9B%A0) The company's expected profit is primarily due to strong intelligent emergency equipment business growth, enhanced cost control, and significant increases in fair value changes and investment income from its stake in Jiangxi Guoke Military Industry Group - The company's intelligent emergency equipment business achieved good development, benefiting from strong demand for China's intelligent computing data center construction and increased procurement demand for emergency special vehicles, driving an increase in sales revenue[5](index=5&type=chunk)[6](index=6&type=chunk) - The company continuously strengthened cost control, enhanced full-process cost management, vigorously reduced costs and explored potential, strictly controlled expenses, and achieved **significant cost reduction and efficiency improvement**[6](index=6&type=chunk) - Affected by changes in the share price of Jiangxi Guoke Military Industry Group Co., Ltd. and equity distribution, the company's fair value change gains and investment income significantly increased compared to the same period last year, positively impacting net profit[6](index=6&type=chunk) [IV. Risk Warning](index=2&type=section&id=%E5%9B%9B%E3%80%81%E9%A3%8E%E9%99%A9%E6%8F%90%E7%A4%BA) The company states that this performance forecast is unaudited but confirms no other significant uncertainties affect the accuracy of its content - This performance forecast is **unaudited**[7](index=7&type=chunk) - The company has no other significant uncertainties affecting the accuracy of this performance forecast[7](index=7&type=chunk) [V. Other Explanatory Matters](index=2&type=section&id=%E4%BA%94%E3%80%81%E5%85%B6%E4%BB%96%E8%AF%B4%E6%98%8E%E4%BA%8B%E9%A1%B9) The company reminds investors that the forecast data is preliminary, and final accurate financial data will be based on the officially disclosed 2025 semi-annual report, urging caution regarding investment risks - The above forecast data are preliminary, and the specific accurate financial data will be subject to the company's officially disclosed **2025 semi-annual report**[8](index=8&type=chunk) - Investors are kindly reminded to pay attention to **investment risks**[8](index=8&type=chunk)

泰豪科技（600590）公告，预计2025年半年度实现归属于上市公司股东的净利润9500万元至1.2亿元， 与上年同期相比，将实现扭亏为盈。归属于上市公司股东扣除非经常性损益后的净利润预计为4500万元 至6000万元。 ...

2025 年 07 月 14 日 晨会纪要 研究所： 证券分析师： 余春生 S0350513090001 yucs@ghzq.com.cn [Table_Title] 晨会纪要 ——2025 年第 117 期 观点精粹: 最新报告摘要 2025H1 业绩预期高增，充足在手订单叠加下游石化项目进展保障业绩弹性--博隆技术/专用设备 (603325/216402) 中小市值点评报告 工业富联(601138.SH)公司报告：乘上 AI 算力东风，服务器与网络双轮驱动--工业富联/消费电子 (601138/212705) 公司 PPT 报告 陶氏计划退出其欧洲有机硅产能，关注有机硅行业修复机会--行业动态研究 硅料报价提至综合成本线上，欧洲分布式储能需求高景气--行业周报 智元入主上纬新材，xAI 发布大模型 Grok4--行业周报 两部门印发《计量支撑产业新质生产力发展行动方案（2025-2030 年）》--行业周报 铝行业周报：海外关税扰动再起，铝需求淡季深入--行业 PPT 报告 极氪发布浩瀚-S 架构，尚界启动预热--行业周报 本周北证 50 小幅上涨，北矿检测上会--北交所行业普通报告 焦煤期货持续上涨的原 ...

2025 年 07 月 12 日 行业研究 评级：推荐(维持) 《电力设备行业周报：工信部召开光伏企业座谈 会，海风政策催化不断落地（推荐）*电力设备*李 航，邱迪，王刚，严语韬，李昂》——2025-07-06 《人形机器人行业周报：湖北省人形机器人产业投 资母基金设立，步科发布第四代无框力矩电机及中 空驱动器（推荐）*电力设备*李航，邱迪，李昂， 李铭全》——2025-07-05 《电力设备行业周报：抢装支撑风电 Q2 业绩，锂 电产业链持续推进固态电池布局（推荐）*电力设 备*李航，邱迪，王刚，李铭全，严语韬，李昂》 ——2025-06-28 《人形机器人行业周报：浙江荣泰拟参股金力传 动，银河通用完成 11 亿元融资（推荐）*电力设备 *李航，邱迪，李铭全，李昂》——2025-06-28 | 研究所： | | | --- | --- | | 证券分析师： | 李航 S0350521120006 | | | lih11@ghzq.com.cn | | 证券分析师： | 邱迪 S0350522010002 | | | qiud@ghzq.com.cn | | 证券分析师： | 王刚 S03505240200 ...

Core Viewpoint - Taihao Technology (SH600590) reported a significant decline in net profit for the year 2024, transitioning from profit to loss, with a net profit of -991 million yuan, marking a year-on-year decrease of 1862.01% [1] Financial Performance - The company's operating revenue for 2024 was 4.36 billion yuan, a slight increase of 1.71% compared to 2023 [1] - The net profit attributable to shareholders was -991 million yuan, a drastic decline from a profit of 56 million yuan in 2023 [1] - The net profit after excluding non-recurring gains and losses was -878 million yuan, down 13.28% from -775 million yuan in the previous year [1] - The basic earnings per share for 2024 were -1.16 yuan [1] - The gross profit margin for 2024 was 17.20%, down 0.64 percentage points year-on-year, while the net profit margin was -21.60%, a decrease of 24.70 percentage points from the previous year [2] Cost Management - Total operating expenses for 2024 were 998 million yuan, a reduction of 150 million yuan compared to the previous year [2] - The expense ratio was 22.90%, down 3.90 percentage points year-on-year [2] - Sales expenses decreased by 33.59%, management expenses decreased by 6.71%, R&D expenses decreased by 0.96%, and financial expenses decreased by 20.06% [2] Employee Statistics - The total number of employees in 2024 was 1,538, a decrease of 155 employees or 9.16% from the previous year [3] Executive Compensation - The total remuneration for directors, supervisors, and senior management in 2024 was 4.1021 million yuan, with the chairman and CEO, Li Ziqiang, receiving 525,000 yuan, a reduction of 12.76% from 601,800 yuan in 2023 [4] Company Background - Taihao Technology, established on March 20, 1996, and listed on July 3, 2002, is based in Nanchang, Jiangxi Province, and specializes in the research, development, production, sales, and service of military equipment and smart power products [5]

泰豪科技股份有限公司（以下简称"公司"）拟通过发行股份的方式向北京 国发航空发动机产业投资基金中心（有限合伙）、中兵国调（厦门）股权投资基 金合伙企业（有限合伙）、中兵投资管理有限责任公司、重庆泰和峰私募股权投 资基金合伙企业（有限合伙）、榆林市煤炭资源转化引导基金合伙企业（有限合 伙）购买其合计持有的江西泰豪军工集团有限公司 27.46%股权（以下简称"泰 豪军工 27.46%股权"）（以下简称"本次交易"）。 二、本次交易的进展情况 股票代码：600590 股票简称：泰豪科技 公告编号：临 2025-045 泰豪科技股份有限公司 关于发行股份购买资产暨关联交易事项的进展公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、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法律责任。 一、本次交易的基本情况 根据《上市公司重大资产重组管理办法》等相关法律法规规定，本次交易不 构成重大资产重组，预计构成关联交易，不构成重组上市，本次交易不会导致公 司实际控制人发生变更。 因有关事项尚存在不确定性，为了维护投资者利益，避免对公司股价造成重 大影响，根据上海证券交易所的相关规定，经公司申请， ...

国防军工行业今日上涨0.55%，全天主力资金净流出21.65亿元，该行业所属的个股共139只，今日上涨 的有90只，涨停的有6只；下跌的有46只。以资金流向数据进行统计，该行业资金净流入的个股有51 只，其中，净流入资金超5000万元的有9只，净流入资金居首的是合众思壮，今日净流入资金3.48亿 元，紧随其后的是烽火电子、亚星锚链，净流入资金分别为2.16亿元、1.38亿元。国防军工行业资金净 流出个股中，资金净流出超亿元的有9只，净流出资金居前的有中兵红箭、泰豪科技、内蒙一机，净流 出资金分别为8.23亿元、3.66亿元、2.18亿元。（数据宝） 沪指6月26日下跌0.22%，申万所属行业中，今日上涨的有8个，涨幅居前的行业为银行、通信，涨幅分 别为1.01%、0.77%。国防军工行业位居今日涨幅榜第三。跌幅居前的行业为汽车、非银金融，跌幅分 别为1.37%、1.20%。 资金面上看，两市主力资金全天净流出310.12亿元，今日有6个行业主力资金净流入，通信行业主力资 金净流入规模居首，该行业今日上涨0.77%，全天净流入资金24.72亿元，其次是社会服务行业，日涨幅 为0.42%，净流入资金为2.81亿元 ...