Group 1 - The core viewpoint of the news highlights the recent performance and financial metrics of Jinpan Technology, including stock price movements and trading volumes [1] - On August 26, Jinpan Technology's stock rose by 2.85%, with a trading volume of 9.52 billion yuan, and a net financing purchase of 16.69 million yuan [1] - As of August 26, the total margin balance for Jinpan Technology was 672 million yuan, with a financing balance of 667 million yuan, representing 2.51% of the circulating market value [1] Group 2 - As of March 31, the number of shareholders for Jinpan Technology was 18,100, a decrease of 7.42%, while the average circulating shares per person increased by 8.01% to 25,206 shares [2] - For the first quarter of 2025, Jinpan Technology reported a revenue of 1.343 billion yuan, a year-on-year increase of 2.90%, and a net profit attributable to shareholders of 107 million yuan, up 13.32% year-on-year [2] Group 3 - Since its A-share listing, Jinpan Technology has distributed a total of 713 million yuan in dividends, with 543 million yuan distributed over the past three years [3] - As of March 31, 2025, among the top ten circulating shareholders, Guangfa Multi-Factor Mixed Fund became the fourth largest shareholder with 8.1127 million shares, while Qianhai Kaiyuan New Economy Mixed A Fund entered as the eighth largest shareholder with 4.5531 million shares [3]

证券研究报告 | 2025年08月04日 金盘科技（688676.SH） 优于大市 国常会审议通过《关于深入实施"人工智能+"行动的意见》， 制造业企业数字化转型带来新发展机遇 |  公司研究·公司快评 | |  | 电力设备·电网设备  | 投资评级：优于大市（维持） | | --- | --- | --- | --- | --- | | 证券分析师： | 王蔚祺 | 010-88005313 | wangweiqi2@guosen.com.cn | 执证编码：S0980520080003 | | 证券分析师： | 王晓声 | 010-88005231 | wangxiaosheng@guosen.com.cn | 执证编码：S0980523050002 | 事项： 事件：7 月 31 日，国务院总理李强主持召开国务院常务会议，审议通过《关于深入实施"人工智能+"行 动的意见》。会议指出，要深入实施"人工智能+"行动，大力推进人工智能规模化商业化应用，推动人 工智能在经济社会发展各领域加快普及、深度融合，形成以创新带应用、以应用促创新的良性循环；要着 力优化人工智能创新生态，强化算力、算法和数据供给， ...

Core Viewpoint - Hainan Jinpan Intelligent Technology Co., Ltd. has transformed from a traditional power equipment company into an innovative, technology-driven, and digital enterprise, focusing on the development of transformers and related products while expanding into intelligent manufacturing and AI integration [1][2]. Group 1: Company Overview - Established in 1997, Jinpan Technology has developed a global production base, with operations in countries such as Mexico, Poland, and Malaysia, and its products are distributed in over 80 countries and regions [1]. - The company has received various international certifications for its main products, including UL and KEMA [1]. Group 2: Financial Performance - In the first quarter of this year, Jinpan Technology reported steady revenue growth, particularly in data centers and wind energy sectors [2]. - As of March 31, the order amount for the company's complete series products in the data center sector increased by 43.25% compared to the same period last year [2]. Group 3: Research and Development - Jinpan Technology invested 356 million yuan in R&D in 2024, resulting in 284 effective patents, 73 software copyrights, and 37 trademarks [2]. - The company has successfully completed projects such as the 20.6MVA dry-type transformer for floating wind turbine units, recognized as an advanced equipment manufacturing project in Hainan Province [2]. Group 4: Strategic Initiatives - In 2024, Jinpan Technology aims to integrate AI technology with its digital manufacturing platform to enhance production efficiency and product quality across the entire business chain [3]. - The company is focusing on the intelligent industrial robot sector, particularly in smart welding, handling, and collaborative robots, to drive its smart manufacturing transformation [3]. Group 5: Future Outlook - Jinpan Technology plans to increase R&D investment in 2025, continuing to drive technological innovation and expand its product matrix with digital, low-carbon, and intelligent products [3]. - The company aims to establish a three-dimensional driving model focusing on global market layout, high-value products, and efficient production operations, leveraging technology innovation as a key engine for growth [4].