记者丨董鹏 编辑丨巫燕玲 体育专科生出身的老板，用10万元启动资金，干出40亿上市公司 卓创资讯（301299.SZ）。如今公司 A股上市还不满三年，又生出了赴港上市 的想法。 卓创资讯近期公告，公司拟境外发行股份（H股）并申请在香港联合交易所有限公司主板挂牌上市。该公司为国内大宗商品资讯、数据服务 商，同时也是该领域较早实现独立IPO的公司。 不过，受到行业体量、业务模式与市场竞争等多方面因素限制，卓创资讯当前经营规模较小。上周披露的半年报显示，公司当期营收、净利润 仅有1.71亿元、0.35亿元，整体业绩较2022年上市前增长极为有限。 21世纪经济报道记者从业内人士处了解到， 卓创资讯的同行业企业数量较多， 几乎每个规模较大的大宗商品都有各自的专业资讯服务商。 比如，侧重能源化工的隆众资讯，钢铁行业一家独大的上海钢联，以及在有色金属行业价格影响力突出的上海有色等。现有行业竞争格局，也 在迫使卓创资讯寻求新的增长点。 接下来， 如若港股上市顺利达成，公司将成为内地首家大宗商品资讯、数据行业"A+H"上市公司 ，港股市场为卓创资讯给予的估值，也会成 为其他同业公司未来上市的重要定价参考。 截至8月26日收盘 ...

Core Insights - Nanjing-based company, Shuzutech, has launched 36 self-developed data products on the Jiangsu Data Exchange, focusing on industrial cluster analysis and enterprise operational evaluation [1] - The company, established in 2016, is recognized as a national high-tech enterprise and has developed a comprehensive electronic invoice management platform, "Zhenpiao Cloud," serving nearly 4 million tax entities over eight years [1] Group 1: Product Offerings - The launched products include 34 industrial cluster enterprise data products covering key industrial systems in Jiangsu Province and Xuzhou City, integrating publicly available data from various government sources [1] - Two additional products, "Enterprise Invoice Analysis Report" and "Enterprise Financial and Tax Operational Analysis Report," provide high-value services such as dynamic evaluation of business conditions and risk warnings based on authorized enterprise data [1] Group 2: Application Scenarios - The industrial cluster enterprise data products are designed for government industrial analysis, investment promotion, financial services, and supply chain optimization, targeting government departments, financial institutions, industrial parks, and enterprises [2] - The enterprise analysis report products cater to financial institutions, government departments, tax service agencies, and the enterprises themselves, supporting various scenarios including financial risk control, policy matching, self-assessment, and due diligence [2]

Core Viewpoint - Gaote Electronics is positioned to become the "first stock of energy storage BMS" in A-shares with its upcoming IPO, focusing on energy storage battery management systems (BMS) and leading market share [1][2]. Fundraising and Investment - Gaote Electronics plans to raise 850 million RMB through the issuance of up to 12 million shares, with the net proceeds allocated to the construction of an intelligent manufacturing center for energy storage battery management systems and to supplement working capital [2]. - The total investment for the intelligent manufacturing center project is approximately 674.14 million RMB, with 600 million RMB sourced from the IPO funds [2]. Financial Performance - The company has shown a compound annual growth rate (CAGR) of 63.31% in revenue from 2022 to 2024, with main business revenues of 344.4 million RMB, 770 million RMB, and 919 million RMB for the respective years [3][5]. - The revenue from core technology products has increased significantly, accounting for 90.26% of total revenue in 2024, up from 77.73% in 2022 [5][7]. - Net profits for 2023 and 2024 are projected at 79.04 million RMB and 87.04 million RMB, respectively, meeting the listing standards for profitability [7]. Market Position and Competition - Gaote Electronics ranks as the top new energy storage BMS company in China as of 2023, with a significant market share in the third-party BMS sector [11][12]. - The company has established strategic partnerships for R&D, notably with Xi'an Aerospace Minxin, to develop proprietary AFE information collection chips, enhancing its competitive edge in the BMS market [12]. Customer Base - The customer portfolio includes major players such as CATL, Ganfeng Lithium, and State Grid, with no single customer accounting for over 50% of total revenue, indicating a diversified client base [13][15]. Growth Strategy - Gaote Electronics is transitioning towards a comprehensive data service provider in the energy storage sector, leveraging its BMS technology to offer integrated data services for energy management [16][18]. - The company aims to enhance its data service capabilities, which are expected to become a significant growth driver in the future [19].

Core Viewpoint - The energy storage industry is transitioning from "equipment competition" to "service capability competition" due to significant policy changes this year, leading to a new phase of market-oriented competition [2]. Strategic Upgrade - Highte Electronics has officially announced a strategic upgrade from "system expert" to "data service leader," launching a comprehensive "data service system" that integrates data aggregation, prediction, diagnosis, trading, and settlement [5][6]. Strategic Partnerships - Highte Electronics signed strategic cooperation agreements with several well-known companies, including Ganfeng Lithium and Dongfang Risheng, to create replicable microgrid data service benchmark projects and promote a smart energy system transformation under the "dual carbon" goals [6]. Addressing Industry Pain Points - The data service system targets four major pain points in the energy storage industry: 1. Weak market trading: Many storage companies lack specialized teams for market policy research, limiting their trading strategies to conservative peak-valley arbitrage, which affects asset value [7]. 2. High operation and maintenance costs: Highte Electronics has developed an intelligent operation and maintenance system that combines real-time diagnostics and cloud-based deep analysis to enhance operational efficiency [7]. 3. Difficulty in virtual power plant access: The company has created a standardized and self-service operation model to lower technical barriers for small operators, facilitating resource access and optimization [8]. 4. Investment and payment challenges in commercial storage projects: Highte Electronics offers a full-process settlement service that integrates regional pricing and compliance assurance through blockchain technology [8]. Future Directions - Highte Electronics aims to enhance the capabilities of terminal devices, improve functionality and flexibility, and reduce costs, thereby providing more efficient, safer, and economically viable energy storage solutions [9].

Core Viewpoint - The article discusses the transformative shift in the energy sector driven by data and technology, highlighting the strategic upgrade of Gaote Electronics from a system expert to a data service leader [1]. Group 1: Data and Service Evolution - The evolution of data and service is described as a threefold process, focusing on making data flow, activating data assets, and leveraging data for future strategies [2][3]. - The company aims to release the value of GWh-level energy storage data through a cloud-edge collaborative network, utilizing a vast digital asset pool [4]. - A secure and trustworthy data service system is being developed to convert data assets into quantifiable commercial value [4]. Group 2: Strategic Transformation - Gaote Electronics is transitioning from a "system supplier" to a "data service provider," marking the beginning of its second growth curve [5]. - The company will publicly unveil five integrated solutions for the first time, aiming to construct a closed-loop data service chain [5]. Group 3: Product Launch - The global debut of Gaote's "Data Operation 2.0 Platform" is highlighted, indicating a significant advancement in their service offerings [6][7].