据介绍，该基地将分两期建设：一期于2026年3月投入运营，重点开展AIoT、工业互联与机器人培训； 二期计划于2027年9月启动，业务将拓展至智能制造、智能网联等前沿方向。为了给基地的启动预热并 搭建产业人才对接平台，明年4月，2026小米产教融合大会计划在成都科幻馆举行。届时，预计将邀请 600余家高校和米链企业代表，吸引超千名参会者。 成都日报锦观新闻 记者粟新林 供图 郫都融媒 责任编辑 常莉娟 编辑 王淇 审核 单正华 "选择落户郫都，不仅因为这里有完善的电子信息产业生态和丰富的高校人才资源，更打动我们的是这 里的营商环境。"小米集团技术委员会产教融合总经理、小米共同体执行秘书长雍德钰表示，"从项目签 约到推进，管委会与菁弘集团主动服务，响应迅速，这种实干精神让我们充满信心。" 11月3日，记者了解到，小米产教融合基地已确定落地郫都区大数据中心。据悉，这是小米集团在四川 设立的首个省级技术服务与培训基地。基地建成后，将面向西南地区开展AIoT、工业互联、机器人等 技术培训与认证，为小米及其生态链企业定向输送研发、生产、销售等岗位专业人才，助力郫都数字产 业人才培育。 ...

Company Overview - Guodian NARI Technology Co., Ltd. is located in Jiangning Economic and Technological Development Zone, Nanjing, Jiangsu Province, and was established on February 28, 2001, with its listing date on October 16, 2003 [1] - The company specializes in power grid automation, industrial control (including rail transit), power generation and new energy, and energy conservation and environmental protection [1] - The main business revenue composition includes: smart grid 49.58%, digital energy integration 21.54%, low-carbon energy 21.22%, industrial interconnection 4.99%, integration and others 2.50%, and other businesses 0.16% [1] Financial Performance - As of March 31, 2025, Guodian NARI achieved operating revenue of 8.895 billion yuan, a year-on-year increase of 15.54%, and a net profit attributable to shareholders of 680 million yuan, a year-on-year increase of 14.19% [2] - The company has cumulatively distributed cash dividends of 23.134 billion yuan since its A-share listing, with 11.5 billion yuan distributed in the last three years [3] Stock Market Activity - On August 25, Guodian NARI's stock price increased by 2.01%, reaching 22.30 yuan per share, with a trading volume of 1.598 billion yuan and a turnover rate of 0.90%, resulting in a total market capitalization of 179.116 billion yuan [1] - Year-to-date, the stock price has decreased by 10.03%, with a 2.34% increase over the last five trading days, a 0.72% increase over the last 20 days, and a 2.50% increase over the last 60 days [1] - As of March 31, 2025, the number of shareholders increased to 110,100, a rise of 41.36%, while the average circulating shares per person decreased by 29.15% to 72,656 shares [2] Institutional Holdings - As of March 31, 2025, the second-largest circulating shareholder is Hong Kong Central Clearing Limited, holding 1.117 billion shares, a decrease of 47.293 million shares from the previous period [3] - Other notable institutional shareholders include Huaxia SSE 50 ETF, Huatai-PB CSI 300 ETF, and E Fund CSI 300 ETF, all of which have seen a decrease in their holdings [3]

Summary of Guodian NARI's Conference Call Company Overview - Guodian NARI achieved a revenue of 57.32 billion yuan in 2024, representing a year-on-year growth of 8.76% [2] - The net profit attributable to shareholders was 7.61 billion yuan, with a year-on-year increase of 6.06% [2] - The company was recognized as a benchmark enterprise for scientific and technological reform by the State-owned Assets Supervision and Administration Commission (SASAC) [2] Financial Performance - In Q1 2025, Guodian NARI reported a revenue of 8.895 billion yuan, a nearly 15% increase year-on-year, and a net profit of 1.68 billion yuan, up 14.14% [11] - The company plans to increase its dividend payout ratio to 60% of net profit attributable to shareholders and has initiated a share buyback plan of 500 million to 1 billion yuan [2][9] Business Segment Performance - **Smart Grid**: Revenue reached 28.468 billion yuan, growing 10.7% with a gross margin of 29.52% [4] - **Digital Energy**: Revenue was 12.36 billion yuan, up 11.05% with a gross margin of 22.41% [4] - **Low Carbon Energy**: Revenue increased by 26.43% to 12.185 billion yuan, though gross margin decreased by 0.94 percentage points [6] - **Industrial Internet**: Revenue fell by 9.5% to 2.867 billion yuan, but gross margin improved by 0.94 percentage points [6] - **International Business**: Revenue surged by 135.14% to 3.279 billion yuan, now accounting for 5.7% of total revenue [7] Research and Development - R&D investment for 2024 was 4.032 billion yuan, representing 7.02% of revenue [8] - The company focuses on technologies related to source-network-load-storage and foundational technologies, with several projects recognized as internationally leading [8] Future Outlook - For 2025, Guodian NARI expects a revenue growth of 12.34% and plans to invest 933 million yuan in capital expenditures for production line upgrades [12] - The company anticipates significant revenue from ultra-high voltage projects, estimating around 1.5 billion yuan in revenue from these projects [5][19] - The international market remains a key growth area, particularly in the Middle East for large-scale energy storage projects [12][31] Strategic Initiatives - The company is undergoing internal reforms to enhance efficiency, including management restructuring and streamlining organizational structure [13] - Guodian NARI is adapting to the regional joint procurement policy, which may impact its distribution equipment business [21][22] Market Trends and Challenges - The new generation dispatch system is expected to improve market conditions and provide growth opportunities [27] - The company faces challenges in promoting energy storage solutions in developed markets but remains optimistic about expanding its market share [31] Conclusion Guodian NARI is positioned for continued growth through strategic investments in R&D, a focus on international markets, and a commitment to enhancing shareholder returns through dividends and share buybacks. The company is navigating challenges in the domestic and international landscape while capitalizing on emerging opportunities in smart grid and energy storage technologies.

Investment Rating - The investment rating for the company is "Buy" and it is maintained [5]. Core Views - The company reported a 2024 annual revenue of 57.42 billion yuan, representing a year-on-year increase of 11.2% - The net profit attributable to shareholders for 2024 was 7.61 billion yuan, up 6.1% year-on-year - The first quarter of 2025 saw a revenue of 8.90 billion yuan, reflecting a year-on-year growth of 14.8% [3][4]. Financial Performance Summary - For 2024, the company's revenue by segment includes: - Smart grid revenue of 28.468 billion yuan, up 10.7% year-on-year - Digital energy integration revenue of 12.365 billion yuan, up 11.1% - Low-carbon energy revenue of 12.185 billion yuan, up 26.4% - Industrial interconnection revenue of 2.867 billion yuan, down 9.5% - Integration and other revenue of 1.438 billion yuan, down 23.9% [8]. - The gross profit margin for 2024 was 26.66%, a decrease of 0.14 percentage points year-on-year [8]. - The company expects a revenue of 64.5 billion yuan for 2025, a year-on-year increase of 12.3% [8]. Operational Insights - The company signed new orders worth 66.32 billion yuan in 2024, an increase of 13.8% year-on-year [8]. - The company anticipates that smart grid, digital energy integration, and low-carbon energy will be the main growth drivers moving forward [8].