科士达属于电源设备行业，公司主营业务涵盖不间断电源、数据中心关键基础设施、光伏逆变器及储能 系统等产品的研发、生产和销售。公司产品广泛应用于金融、通信、电力、轨道交通等领域。 截至2025年8月20日15时，科士达股价报32.30元，较前一交易日下跌1.44元，跌幅4.27%。当日开盘价 为33.68元，最高触及33.68元，最低下探至31.40元，成交量为56.58万手，成交金额达18.40亿元。 资金流向方面，8月20日主力资金净流出1.23亿元，占流通市值的0.67%。近五个交易日主力资金累计净 流入2.39亿元，占流通市值的1.31%。 风险提示：股市有风险，投资需谨慎。 8月20日早盘9时37分，科士达股价出现快速反弹，5分钟内涨幅超过2%，当时报价32.39元，成交金额 5.26亿元。 ...

Group 1 - The stock price of Kehua Data closed at 50.63 yuan on August 20, down by 2.17 yuan, a decrease of 4.11% compared to the previous trading day [1] - The opening price on that day was 51.01 yuan, with a high of 51.22 yuan and a low of 48.51 yuan, and the trading volume reached 549,390 hands, with a transaction amount of 2.742 billion yuan [1] - Kehua Data operates in the power equipment industry, focusing on the research, production, and sales of data center infrastructure products and solutions [1] Group 2 - The company's products include uninterruptible power supplies, precision air conditioning, and micro-module data centers, which are widely used in finance, telecommunications, and the internet sectors [1] - On August 20, Kehua Data signed an ecological cooperation agreement with Biran Technology and Digital China, aiming to jointly build a "chip-server-data center-computing power service" integrated industrial ecosystem [1] Group 3 - On August 20, the net outflow of main funds was 232.8576 million yuan, accounting for 1.01% of the circulating market value [1] - Over the past five days, the cumulative net outflow of main funds was 175.7125 million yuan, representing 0.76% of the circulating market value [1]

Group 1 - The stock price of Kehua Data as of August 14, 2025, is 46.22 yuan, down by 1.46 yuan from the previous trading day [1] - The opening price for the day was 47.99 yuan, with a high of 48.82 yuan and a low of 46.09 yuan, resulting in a trading volume of 529,684 hands and a transaction amount of 2.498 billion yuan [1] - On the morning of August 14, the stock price rebounded over 2% within 5 minutes, reaching a price of 48.33 yuan [1] Group 2 - Kehua Data's main business includes the research, production, and sales of data center infrastructure products and solutions [1] - The company's product offerings include uninterruptible power supplies, precision air conditioning, and micro-module data centers, which are widely used in industries such as finance, telecommunications, and the internet [1] - On August 14, the net outflow of main funds was 25.14205 million yuan, accounting for 1.2% of the circulating market value, while the cumulative net inflow of main funds over the past five trading days was 23.03590 million yuan [1]

Key Policies - Sichuan Province has released management measures for distributed photovoltaic power generation, requiring that large commercial distributed photovoltaic projects primarily self-consume electricity, with a minimum self-consumption ratio of 50% for certain regions [4][5] - Tianjin plans to adjust its time-of-use electricity pricing, expanding the floating range of peak and valley prices, with peak prices potentially increasing by 60% and valley prices decreasing by 60% [6] Key Events - Guizhou Electric Power Company has established a near-zero carbon demonstration zone with a capacity of 940 kW, aiming to reduce CO2 emissions by 267 tons annually [8][10] - The establishment of the New Power System Standardization Technical Committee in Yunnan Province marks a significant step in standardization efforts within the energy sector [22][23] - The "Ningxia New Power System Construction Strategic Research" project has been approved, focusing on reliable power supply and high-level renewable energy consumption [25][26] - A meeting between the National Energy Group and the State Grid Corporation discussed accelerating the construction of new power systems and ensuring national energy security [27][28] - The largest provincial autonomous controllable power grid operation control system in the country has been put into operation in Guangdong, achieving 100% localization of core components [30][31] Key Technologies - Beijing Digital Green Land Technology Co., Ltd. has published a patent for real-time monitoring of power line deployment using ground-based laser radar technology [43][44] - Datang Digital Technology has applied for a patent to enhance the accuracy of knowledge retrieval models in the energy sector [45] - Huawei Digital Energy has obtained a patent for an uninterruptible power supply that ensures continuous power during switching between main and bypass routes [46] - China Power Construction Corporation's Hebei Institute has developed a photovoltaic inspection drone that protects itself in case of a fall [47] Key Companies - Southern Power Grid Technology has established a comprehensive capability chain in intelligent robots and drones, focusing on research, manufacturing, and application [49] - Haibo Technology has launched an electric power electronics technology platform to support the new power system [50][51] - China Resources Power has initiated research on multi-energy complementary smart operations, collaborating with Tsinghua University and the State Grid [52][53]

Summary of Key Points Core Viewpoint The report titled "2025 Corporate Trade Secret Management and Protection Guidelines" aims to enhance the level of trade secret protection for enterprises and establish a comprehensive protection system. It covers aspects such as the overview of trade secrets, leakage scenarios, protection system construction, and avenues for rights protection. Group 1: Overview of Trade Secrets - Trade secrets are defined as technical and operational information that is not publicly known, has commercial value, and is subject to confidentiality measures by the rights holder. They possess three main characteristics: secrecy, confidentiality, and value [2][26]. - The protection scope includes technical information (e.g., formulas, processes) and operational information (e.g., customer data, bidding materials) [2][43]. Group 2: Common Leakage Scenarios - The report identifies 22 leakage scenarios across various dimensions, including personnel, information release, storage, and transmission. High-risk personnel leakage includes job-hopping, self-establishment, and collusion [3]. - Information release leakage includes public disclosures, academic publications, and media leaks, while storage leakage involves carrier leaks and reverse engineering during product circulation [3][10]. Group 3: Protection System Construction - Enterprises should establish four major management systems: classification management, minimum contact, full-process management, and reasonable use principles. The management organization should involve top management, specialized management bodies, and operational departments [4]. - Personnel management should cover the entire employment process, including background checks, confidentiality training, and signing agreements [4][20]. Group 4: Avenues for Rights Protection - Enterprises can pursue rights protection through three main avenues: administrative, civil, and criminal. Administrative avenues include complaints to market supervision departments, while civil avenues involve negotiation, arbitration, and civil litigation [5]. - The report emphasizes the importance of a comprehensive approach to trade secret management and rights protection, providing practical guidelines for enterprises to safeguard their core assets and maintain legal rights in a competitive market [5][12].

Company Overview - Beijing Dinghan Technology Group Co., Ltd. is a publicly listed company established on December 24, 2007, with a registered capital of 38.376 million RMB [1][2] - The company operates in the field of rail transit technology, focusing on the production of intelligent power supply products for rail transit [1][3] Historical Development - The company was originally founded as Beijing Dinghan Technology Co., Ltd. in June 2002 and underwent a transformation into a joint-stock company in December 2007 [1][2] - The company went public on the Shenzhen Stock Exchange's Growth Enterprise Market on October 30, 2009, issuing 13 million shares at a price of 37.00 RMB per share [1][2] - Significant capital increases occurred in 2010 and 2013 through capital reserve transfers, increasing the total share capital to 154.128 million shares [2] Shareholder Structure - The ultimate controlling shareholder is Guangzhou Industrial Control Capital Management Co., Ltd., with actual control held by the Guangzhou Municipal Government [2][3] - The company has undergone several changes in its shareholder structure, including share transfers and non-public offerings to raise funds [2] Organizational Structure - The company has a structured governance model with a shareholders' meeting as the highest authority, a board of directors executing decisions, and a supervisory board for internal oversight [2][3] - Key departments include market center, financial asset department, human resources, strategic investment, and corporate management [2] Business Scope - The company’s main business activities include the production and sale of rail transit signal power supply products, technical development, and consulting services [2][3] - The company is also involved in investment and asset management, as well as import and export activities related to rail transit technology [2]