Group 1: Intelligent Computing Business - The company's intelligent computing business achieved revenue of 269 million yuan in 2024, representing a year-on-year growth of 3696.16% [1] - By the end of 2024, the operational computing power exceeded 15,000 P, with a cumulative computing power of over 10,000 P by the end of July 2024 [1] - The gross profit margin for the intelligent computing business was 41.04% in 2024, which, although lower than previous years, remains significantly higher than other business segments [1] Group 2: Business Model and Revenue Recognition - The intelligent computing business provides overall solutions including design, construction, and operation of computing clusters for clients such as telecom operators and AI model companies [2][3] - Revenue recognition for computing services is based on monthly confirmations of services provided, with full revenue recognition when the results can be reliably estimated [4] - The main costs associated with the intelligent computing business include manufacturing costs, primarily related to server cluster depreciation, and other expenses such as cabinet rental and bandwidth fees [4] Group 3: Major Clients and Suppliers - The company has established contracts with major clients including Jinan Supercomputing Center and Beijing Anlian Technology, with total contract amounts and execution methods detailed [4][5] - The company maintains a diverse supplier base for AI servers and related equipment, ensuring competitive pricing and quality through a "compare three" procurement strategy [5][8] - There are no significant concerns regarding the relationship between the company and its major clients or suppliers, indicating a healthy business environment [8] Group 4: Long-term Asset Acquisition - As of the end of 2024, the company had invested approximately 3 billion yuan in the purchase of GPU servers and related equipment, with significant increases in fixed asset investments compared to previous years [6] - The total value of fixed assets, construction in progress, and right-of-use assets reached 2.787 billion yuan, a substantial increase of 2.351 billion yuan from the end of 2022 [6] - The company has engaged in sale-leaseback and financing lease arrangements, with total financing amounts of 1.248 billion yuan and 199 million yuan respectively, indicating a strategic approach to asset management [9]

（1）补充列示最近三年前五名供应商的名称、成立时间、 主营业务、实际控制人、采购内容、采购金额及变动原因、合同约定 结算方式、期末结算余额等，并说明与公司及主要客户、供应商之间 是否存在关联关系、合作历史，采购金额与供应商经营规模是否匹配， 是否存在期后退款等情况；（2）除问题（1）已披露信息外，补充披 露公司最近三年与汇煜公司、华宇公司发生的交易和资金往来情况， 包括但不限于采购或销售商品名称、定价、交易金额、合同约定付款 和货物交付安排、实际商品入库时间和资金支付时间、是否存在退款 等； （3）结合上述问题，说明华宇公司同时为公司客户、供应商的合 理性；结合公司流动性风险，说明预付款和采购规模及其变化趋势是 否匹配，相应资金是否存在变相流入关联方或利益相关方的情形。请 年审会计师发表意见。 上海证券交易所： 《关于宝泰隆新材料股份有限公司2024年年度报告的信息披露监管 问询函》（上证公函【2025】0857号）（以下简称"问询函"），中审 亚太会计师事务所（特殊普通合伙）（以下简称"我们"）作为宝泰 隆新材料股份有限公司（以下简称"宝泰隆公司"或"公司"） 涉及与财务报表项目相关的问题，我们阅读了公司对 ...