证券日报网讯12月4日，华丰股份（605100）在互动平台回答投资者提问时表示，公司已在《2025年半 年报》中披露：公司将数据中心市场列为重点业务拓展方向，依托智能化发电机组的产品与制造能力， 面向数据中心开展多渠道业务推进。公司积极探索与行业企业的合作模式，围绕智算中心等新型基础设 施的备用电源需求进行业务拓展。2025年8月，公司与上海极篇人工智能科技有限公司(以下简称"上海 极篇")签署《投资协议》，公司出资2000万元参股投资上海极篇，持股比例20%，目前上海极篇已完成 工商变更登记，公司成为上海极篇股东。后续，公司将积极开拓算力中心市场，加快业务布局，如有相 关计划或进展，公司将及时履行信息披露义务。 ...

Group 1 - The company, Xiangxin Technology (002965.SZ), confirmed its involvement in the supply chain of Super Fusion Digital Technology Co., Ltd. by providing CNC sheet metal parts and precision metal structures [2][4] - The products supplied by the company are applicable in fields such as 5G base stations, IDC cabinets, and data centers [2][4] - With downstream customers expanding their data center and computing power center layouts nationwide, the company is facing more business opportunities and is actively promoting related project collaborations [2][4]

（编辑 楚丽君） 证券日报网讯 12月3日，祥鑫科技在互动平台回答投资者提问时表示，公司为超聚变数字技术有限公司 企业供应数控钣金件、精密金属结构件等产品，可应用在5G基站、IDC机柜、数据中心等领域。随着下 游客户在全国范围内布局数据中心以及算力中心，公司面临更多的业务机会，并积极推进相关项目的合 作。 ...

Core Viewpoint - The article emphasizes that effective investment is a complex system process involving the coupling and collaborative evolution of technological innovation, institutional innovation, and spatial optimization, rather than merely a capital input behavior [1][2]. Group 1: New Requirements and Challenges - The "14th Five-Year Plan" period is crucial for China to advance towards socialist modernization, facing unprecedented challenges and requirements due to profound changes in domestic and international environments [2][4]. - The global landscape is undergoing a new round of technological revolution and industrial transformation, with disruptive technologies reshaping national core competitiveness and increasing the strategic importance of investment [3]. Group 2: Effective Investment and New Quality Productivity - Effective investment is defined as capital formation activities that serve high-quality development goals, focusing on nurturing and expanding new quality productivity [5]. - New quality productivity is characterized by technological innovation as the core driving force, with significant improvements in total factor productivity as a key indicator [6]. Group 3: "Technology-Institution-Space" Analysis Framework - The "Technology-Institution-Space" (TIS) framework illustrates that successful investment activities result from the positive interaction of technology, institutions, and spatial dimensions [7]. - The technology dimension focuses on R&D innovation, digital infrastructure, and high-skilled human capital, which directly determines the height and advancement of new quality productivity [7]. - The institutional dimension emphasizes creating an environment conducive to innovation, including a robust intellectual property protection system and a fair market environment [7]. - The spatial dimension involves optimizing regional functional layouts and constructing modern infrastructure networks to promote the clustering and scaling of new quality productivity [7]. Group 4: Progress and Challenges in Effective Investment - Despite a slowdown in fixed asset investment growth, significant progress has been made in the effectiveness of investment, with a clear trend towards structural optimization [14]. - High-tech industry investment has maintained double-digit growth, significantly outpacing overall fixed asset investment growth, indicating a shift towards new quality productivity core areas [14]. - Challenges remain in aligning technology, institutions, and spatial dimensions, leading to issues such as insufficient basic research investment and a lack of effective technology transfer mechanisms [16][18]. Group 5: Recommendations for a High-Efficiency Investment Ecosystem - To expand effective investment, a shift from "project thinking" to "ecosystem thinking" is necessary, focusing on creating a self-optimizing and virtuous cycle investment ecosystem [21]. - Recommendations include optimizing R&D investment structures, enhancing basic research funding, and establishing market-oriented concept verification centers to bridge the gap between laboratory results and market applications [22][23]. - Institutional reforms should aim to deepen financial supply-side structural reforms and enhance the protection of intellectual property rights to stimulate innovation [24][25]. - Spatial strategies should promote differentiated and specialized investments, avoiding homogeneous competition and ensuring that new infrastructure aligns with local industrial needs [26][27].

证券日报网讯 雄韬股份（002733）11月25日在互动平台回答投资者提问时表示，公司致力于算力中心 和数据中心领域的锂离子电池、高性能铅酸蓄电池、氢燃料电池替代柴发等，是公司最核心的发展战 略。公司氢能业务始终保持与相关方的积极沟通与协同，共同探索发展新机，积极推进相关事项进度， 公司会依规适时予以披露。 ...

Group 1: Company Growth and Capacity - The company is currently able to meet existing production order demands and has plans to expand capacity based on future market demand and order conditions [2] - The company has over 30 years of experience in the data center industry, which strengthens its competitive advantages [3] Group 2: Market Position and Competitive Advantages - The company has a comprehensive product range and reliable quality, enhancing its brand value and customer coverage across well-known enterprises in finance, telecommunications, and the internet [3] - The company aims to seize market opportunities during the expansion phase of computing centers [3] Group 3: Financial Practices and Transparency - The company adheres to prudent accounting practices and will confirm impairment data through auditing [3] - The company ensures that information disclosure is accurate, complete, and timely, following established regulations [3]

Core Viewpoint - The company, Niuwei Co., Ltd. (603699.SH), engages in supplying water valve products for cooling systems in computing power centers, although it does not directly supply power valves to these centers [2]. Group 1 - The company confirmed its involvement in power projects but clarified that it does not directly supply power valves to computing power centers [2]. - The electricity for computing power centers primarily comes from thermal power plants or nuclear power stations [2]. - The company supplies water valve products directly to the cooling systems of computing power centers [2].

Core Viewpoint - Niuwei Co., Ltd. (603699.SH) provides water valve products to cooling systems of computing power centers, while its electricity supply involvement is indirect, primarily through power projects [1] Group 1 - The electricity for computing power centers comes from thermal power plants or nuclear power stations [1] - The company participates in power projects but does not directly supply power valves to computing power centers [1] - The company directly supplies water valve products to the cooling systems of computing power centers [1]

Core Viewpoint - Xiangxin Technology (002965.SZ) is actively engaging in business opportunities related to the supply of CNC sheet metal parts and precision metal structures for Super Fusion Digital Technology Co., Ltd, with applications in 5G base stations, IDC cabinets, and data centers [1] Group 1 - The company supplies products that are essential for the infrastructure of data centers and computing power centers [1] - There is an increasing demand for the company's offerings as downstream customers expand their data center layouts nationwide [1] - The company is proactively advancing collaborations on related projects to capitalize on these opportunities [1]

Group 1: Business Performance and Strategy - The company is focused on a strategic shift from "scale first" to "quality first," resulting in improved profitability and a clear path for value creation [3][4] - Despite challenges in the external environment, the company has optimized its product structure and customer mix, particularly in the AI sector, leading to a gradual recovery in profitability [2][3] - The company has established deep partnerships with leading global AI brands, which are expected to drive revenue growth through new technology mass production projects in 2026 [3][4] Group 2: Financial Metrics and Growth Drivers - The company reported a positive trend in financial indicators for the first three quarters of the year, indicating a shift towards quality improvement [2] - The storage business has achieved profitability, contributing to a second growth curve for the company [3][7] - The company anticipates further enhancement of overall profitability as the proportion of high-end AI products increases and the scale effects from its manufacturing bases are realized [3][4] Group 3: Product Development and Innovation - Continuous investment in innovative technologies such as solid-state, high-silicon, and sodium batteries ensures the company maintains a competitive edge and avoids price competition [4][5] - The company is actively developing energy solutions for data centers, having made significant breakthroughs in backup battery systems [8][9] - The company is positioned to meet the growing demand for AI-related products, including AI glasses and toys, which are expected to become market leaders [9][10] Group 4: Market Challenges and Responses - The company has implemented a three-pronged strategy to address rising raw material costs, including short-term pricing adjustments, mid-term product upgrades, and long-term technological advantages [5][6] - The company is focused on optimizing its product structure towards high-value, high-margin products to navigate through market cycles [5][6] - The storage market is viewed as a long-term opportunity, with the company leveraging its expertise in battery safety technology to build a competitive advantage [7][8] Group 5: Competitive Advantages - The company has built a robust competitive advantage through long-term relationships with major global brands, underpinned by a commitment to safety, quality, delivery, and cost (SQDC) [11][12] - The company’s forward-looking technology layout and product definition capabilities allow it to meet current market demands while ensuring sustainable competitive advantages [11][12] - Lean manufacturing capabilities and the successful operation of its production bases provide resilience against complex international trade environments [12]