证券代码：002368 证券简称：太极股份 公告编号：2025-017 太极计算机股份有限公司 第六届董事会第二十次会议决议公告 本次会议应到董事9位，实到董事9位，公司部分监事、高级管理人员列席 了会议，会议由董事长吕翊先生主持。本次会议的召开符合《公司法》和《公 司章程》的有关规定。 二、董事会会议审议情况 （一）审议通过了《关于〈公司 2025 年第一季度报告〉的议案》 具体内容详见巨潮资讯网（http://www.cninfo.com.cn）的相关公告。 表决结果：9票同意、0票反对、0票弃权。 三、备查文件 1、第六届董事会第二十次会议决议。 特此公告。 本公司及董事会全体成员保证信息披露内容真实、准确和完整，没有虚假记载、误导 性陈述或重大遗漏。 一、董事会会议召开情况 太极计算机股份有限公司（以下简称"公司"）第六届董事会第二十次会议通 知于2025年4月18日以直接送达、电话或电子邮件的方式发出，会议于2025年4 月29日在北京市朝阳区容达路7号院中国电科太极信息产业园C座会议中心以现 场结合通讯方式召开。 董事会 2025 年 4 月 29 日 1 太极计算机股份有限公司 ...

Financial Performance - The company's operating revenue for Q1 2025 was ¥1,396,400,564.02, a decrease of 15.96% compared to ¥1,661,500,116.22 in the same period last year[4] - Net profit attributable to shareholders was ¥16,261,241.31, down 0.42% from ¥16,329,727.56 year-on-year[4] - The net profit after deducting non-recurring gains and losses was ¥13,902,596.77, a decline of 4.80% from ¥14,602,979.85 in the previous year[4] - Total operating revenue for the current period is ¥1,396,400,564.02, a decrease of 16% from ¥1,661,500,116.22 in the previous period[15] - Net profit for the current period is ¥16,539,627.81, slightly up from ¥16,443,076.99, indicating a marginal increase of 0.6%[16] Cash Flow and Liquidity - The net cash flow from operating activities improved by 9.08%, amounting to -¥1,405,107,122.35 compared to -¥1,545,364,750.74 in the same period last year[4] - Operating cash flow for the current period is -¥1,405,107,122.35, an improvement from -¥1,545,364,750.74 in the previous period[18] - The company's cash and cash equivalents decreased by 58.42%, totaling ¥934,125,845.10, primarily due to contract-related expenditures[6] - The ending balance of cash and cash equivalents was $786,777,790.87, down from $905,619,103.26[19] - The net increase in cash and cash equivalents was -$1,322,149,174.83, compared to -$602,474,883.67 previously[19] Assets and Liabilities - Total assets at the end of the reporting period were ¥15,443,483,219.79, a decrease of 3.55% from ¥16,012,049,788.95 at the end of the previous year[4] - The total liabilities decreased to ¥9,825,567,292.19 from ¥10,410,673,489.16, a decline of approximately 5.6%[14] - The company’s total liabilities decreased by 42.57% in notes payable, amounting to ¥529,526,281.13, due to the maturity and payment of issued acceptance bills[6] - Accounts receivable increased to ¥4,789,889,023.48 from ¥4,614,889,811.34, reflecting a growth of approximately 3.8%[12] - The total current liabilities increased, with short-term borrowings rising to ¥2,124,000,000.00 from ¥2,001,618,366.68[13] Shareholder Information - The total number of common shareholders at the end of the reporting period is 61,335[9] - The largest shareholder, China Electronics Technology Group Corporation, holds 29.45% of shares, totaling 183,539,867 shares[9] - The company has a total of 2,000,000 shares frozen due to a legal dispute involving a major shareholder[11] Research and Development - Research and development expenses increased by 38.53% to ¥180,327,614.17, reflecting a rise in R&D activities during the quarter[6] - Research and development expenses decreased to ¥25,681,894.13 from ¥29,510,210.54, a reduction of 13%[16] - The company is actively engaged in research and development of new technologies, although specific details were not disclosed in the call[10] Financial Outlook - Future outlook includes potential market expansion and strategic acquisitions to enhance growth[10] - The first quarter report was not audited, indicating preliminary financial results[20]

Group 1 - The National Bureau of Statistics emphasizes the importance of public data as a key resource in the data factor market, with potential value estimated between 10 trillion to 15 trillion yuan according to McKinsey [1] - The national data market transaction scale exceeds 160 billion yuan, showing a year-on-year growth of 30% [2] - Companies with data resource capabilities or data product development abilities are expected to benefit from the evolving public data operation authorization model [2] Group 2 - Companies providing data products/services include Shanghai Steel Union (bulk commodities), Tongxingbao (transportation), Jiuyuan Yinhai (medical insurance), and others [3] - Companies involved in data operation include Deep Sanda A, Shanda Diwei, Jiuyuan Yinhai, and others [3] - Companies engaged in data trading include Anheng Information, Guangdian Yuntong, and others [4]

2025 年 4 月 28 日 卢芷心 S0340524100001 电话：0769-22119297 邮箱： luzhixin@dgzq.com.cn 资料来源：iFind，东莞证券研究所 超配（维持） 计算机行业深度报告 深 度 信创迎来发展新机遇，基础软件替换空间广阔 投资要点： S0340521020001 电话：0769-22110619 邮箱： luoweibin@dgzq.com.cn S0340520060001 电话：0769-22119430 邮箱： chenweiguang@dgzq.com.cn 本报告的风险等级为中高风险。 本报告的信息均来自已公开信息，关于信息的准确性与完整性，建议投资者谨慎判断，据此入市，风险自担。 请务必阅读末页声明。 计算机行业 SAC 执业证书编号： 信创按照"2+8+N"节奏稳步推进，逐步向市场主导驱动过渡。当前， 我国信创产业落地节奏呈现"2+8+N"的发展态势，在党政信创的引领 下，我国信创产业已进入全面推广阶段，其中"2+8"行业是信创推动 的主力军。我国正逐步由政策驱动转向政策+市场双驱动，未来市场需 求将逐渐成为主导力量，推动信创进入高质量发展阶 ...

Investment Rating - The industry investment rating is "Overweight (Maintain)" [1] Core Insights - The AI Agent market is experiencing significant commercial evolution, with a broad market space driven by major players like Microsoft, Google, and domestic companies such as Baidu and Alibaba [4] - The global AI Agent market is projected to grow from $5.1 billion in 2024 to $47.1 billion by 2030, with a compound annual growth rate (CAGR) of 44.8% [4] - Recent developments in AI Agent products from major companies indicate a trend towards enhanced usability and integration within existing ecosystems, such as ByteDance's Coze Space and Tencent's Yuanbao [3][4] Market Review - In the past week (April 21-25), the Shanghai Composite Index rose by 0.56%, the ChiNext Index increased by 1.74%, and the CSI 300 Index went up by 0.38%. The computer (Shenwan) index increased by 0.99%, outperforming the Shanghai Composite by 0.43 percentage points and the CSI 300 by 0.61 percentage points, ranking 17th among all industries [2] Investment Recommendations - Suggested companies to focus on include: - AIDC: Runjian Co., Kehua Data, Data Port, Hongxin Electronics, Huafeng Technology, Taijia Co., Shenling Environment [5] - All-in-one machines: iFLYTEK, Deepin Technology, Digital China, Softcom Power, Cloudwalk Technology, Xiechuang Data, New Wisdom Software [5] - State-owned cloud: Operators, Shensanda, Taiji Co., Yihualu, Yunsai Zhili, Digital Government, Guangdian Yuntong [5] - AI applications: Jinqiao Information, Bosi Software, Fanwei Network, Dingjie Zhizhi, Xinghuan Technology, Tonghuashun, Meiansen [5]

Investment Rating - The report maintains an "Outperform" rating for the computer industry [2][8]. Core Insights - The development of artificial intelligence (AI) in China emphasizes self-reliance and application-oriented approaches, as highlighted by the recent collective study led by General Secretary Xi Jinping [4]. - The market for generative AI in China is projected to reach approximately 14.4 trillion yuan in 2023, with an adoption rate of 15% among enterprises [4]. - The integration of AI into various sectors is expected to accelerate, particularly in government services, where AI applications are already being implemented to enhance efficiency and service quality [4]. Summary by Sections Market Performance - The computer industry has shown a significant performance trend compared to the CSI 300 index, with fluctuations observed from April 2024 to December 2024 [3]. Related Research - Several reports have been published recently, focusing on the evolution of AI applications and the impact of external shocks on stock prices in the domestic market [4]. Investment Recommendations - The report suggests focusing on companies involved in AI governance, AI office solutions, and AI applications in education, e-commerce, and healthcare, including firms like Keda Xunfei, Kingsoft Office, and others [4].

登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：002368 证券简称：太极股份 公告编号：2025-015 太极计算机股份有限公司 关于控股股东及一致行动人增持计划期限届满暨实施完成的公告 中电太极（集团）有限公司、中电科投资控股有限公司保证向本公司提供的信息内容真实、准确、完 整，没有虚假记载、误导性陈述或重大遗漏。 本公司及董事会全体成员保证公告内容与信息披露义务人提供的信息一致。 特别提示： 1、太极计算机股份有限公司（以下简称"公司"）于2024年10月19日披露了《关于控股股东及一致行动 人增持公司股份计划的公告》（公告编号：2024-029），基于对公司未来持续稳定发展的信心和长期投 资价值的认可，为增强投资者信心，中电太极（集团）有限公司（以下简称"中电太极"）及一致行动人 中电科投资控股有限公司（以下简称"电科投资"）拟自2024年10月19日起6个月内以不限于集中竞价交 易、大宗交易等深圳证券交易所允许的方式增持公司股份，增持金额分别为不低于人民币1亿元且不超 过2亿元和不低于人民币5,000万元，双方合计增持股份数量不超过公司总股本的2%。 2、截至本公告披露日，本次增持计划 ...

Summary of Conference Call Records Company Overview - The conference call discusses the performance and strategic direction of a company involved in digital solutions and data services, specifically focusing on its business segments and future plans. Key Points Financial Performance - The company reported a negative cash flow from operating activities of 207 million, an improvement from the previous year's negative cash flow of 555 million, representing a year-on-year increase of 62.64% [1] - The company achieved a positive operating profit for the year despite significant declines in certain areas, with a notable increase in revenue and profit in the fourth quarter compared to previous quarters [1] - The gross margin reached 24.8%, indicating a slight overall increase [2] Business Segments - The homestay business experienced a year-on-year growth of 11.36%, attributed to successful expansions in locations like Beijing and Hainan, where the business model is mature and stable [1] - The company is focusing on three engines for future growth: trustworthiness, data, and intelligence, which are essential for driving its digital services [4][5] Strategic Direction - The company is undergoing a strategic transformation to enhance its digital solutions and data services, emphasizing the importance of a trustworthy digital foundation and the integration of data as a new production factor [5][6] - The company aims to build a "trusted digital foundation" to support the national digital economy, which includes developing a credible data space and public service platforms [6][7] - The strategic focus includes creating specialized data services tailored to industry needs and optimizing digital infrastructure [8][19] Organizational Changes - The company is restructuring its organizational framework to better align with its strategic goals, including the establishment of new business groups focused on data elements and regional operations [18][19] - The restructuring aims to enhance operational efficiency and improve financial metrics such as revenue and profit margins [20][21] Market Trends and Innovations - The company recognizes the growing importance of artificial intelligence (AI) and is developing capabilities to integrate AI into its services, focusing on creating digital employees and enhancing service delivery through intelligent applications [14][30] - The company is also exploring the development of proprietary AI models and enhancing its data processing capabilities to support various industry applications [32][33] Challenges and Future Outlook - The company acknowledges external challenges, including market conditions and regulatory environments, but remains optimistic about its growth trajectory due to a solid backlog of contracts valued at approximately 10.8 billion [27] - The company plans to continue investing in research and development, particularly in AI and database technologies, to maintain its competitive edge [54][55] Additional Insights - The company is committed to enhancing its public service platform and exploring new business models that leverage data and AI to create value across various sectors [11][12] - The focus on high-quality industry data is seen as crucial for developing specialized AI models that can address specific business needs [55][56] This summary encapsulates the key insights and strategic directions discussed during the conference call, highlighting the company's financial performance, business segments, organizational changes, market trends, and future outlook.

Key Insights - The report highlights the evolving factors influencing the 10Y government bond yield in China, indicating a shift from CPI as a primary indicator to a more complex interplay of financial data, real estate prices, and external factors like the USD index [9][10][11] - The export growth of China showed a strong rebound in March, driven by the timing of the Spring Festival, but overall export growth for the first quarter has declined compared to the previous quarter, particularly in sectors like automobiles and electronics, indicating marginal adjustment pressures [4][12][13] - The financial data for March indicates a significant increase in social financing, primarily driven by government bonds and loans, suggesting a proactive fiscal stance, while corporate credit bonds saw a decrease, reflecting rising financing costs [5][14][22][23] Group 1: Bond Market Analysis - The report discusses the iterative exploration of factors affecting the 10Y government bond yield, emphasizing the need for a revised predictive model that incorporates new variables such as the USD index and adjusted financial data [9][10][11] - The analysis suggests that the bond market may experience volatility depending on future monetary policy decisions, particularly regarding interest rate cuts and the overall economic environment [5][14][17] Group 2: Trade and Export Insights - The report notes that the challenges facing China's exports are exacerbated by the cumulative 145% tariffs imposed by the US on many Chinese goods, which could lead to a negative growth rate in exports in the second quarter [4][12][13] - It is projected that if the trend of reduced exports to the US continues, it could significantly impact China's overall export growth, with potential declines in other regions also anticipated [4][12][13] Group 3: Financial Data Overview - The March financial data shows a robust increase in social financing, with a notable contribution from government bonds, indicating a shift towards fiscal stimulus [5][14][22] - The report highlights that corporate short-term loans are on the rise, while long-term loans are decreasing, reflecting a preference for immediate financing solutions amid economic uncertainties [22][23]

Investment Rating - The report maintains a "Recommended" rating for the industry, indicating a positive outlook for the sector's fundamentals and expected performance relative to the benchmark index [3]. Core Insights - The report emphasizes the increasing importance of self-controllable technology in the context of ongoing US-China trade tensions, suggesting that domestic CPU processors and related chips may gain price advantages due to tariff impacts on US manufacturers [1][19]. - The report highlights significant changes in tariff rates, with the US imposing additional tariffs on Chinese products, which have reached 145%, and China responding with increased tariffs on US imports, now at 125% [9][10]. - The report suggests that the adjustment of the "origin" regulations for integrated circuits in China will significantly impact US IDM manufacturers, potentially benefiting domestic companies in the semiconductor industry [11][19]. Summary by Sections Section 1: US-China Trade Tensions - The report details the escalation of trade tensions, with multiple rounds of tariff increases from both the US and China, affecting various sectors, particularly technology [9][10]. - It notes that the US has confirmed a 145% tariff on Chinese products, while China has raised tariffs on US imports to 125% [9][10]. Section 2: Market Performance Review - The computer sector experienced a decline of 5.79% in the second week of April 2025, with notable stock performances from companies like Sifang Precision and Huada Jiutian, which saw increases of 21.38% and 17.24%, respectively [20][21]. - The report provides a detailed ranking of stock performance, highlighting both the top gainers and losers in the sector [21]. Section 3: Key Company Forecasts - The report includes earnings per share (EPS) forecasts for several key companies, indicating expected growth in the coming years, with companies like Kingsoft Office and Yonyou Network showing varying EPS projections [22]. - It emphasizes the importance of monitoring these companies as potential investment opportunities in light of the changing market dynamics [22].