证券日报网1月6日讯，南网数字（301638）在接受调研者提问时表示，"时空智能数字孪生平台建设项 目"总投资及募集资金投资额均为33954.93万元，主要是通过数字电网孪生主平台系统建设和基础算力 建设，升级生产运行支持系统、计量管理应用类系统等产品集合，可为电网或能源行业企业提供规划、 建设、运维的全链条数字孪生仿真支撑，提升决策效率和管理水平。该项目建设旨在精准匹配能源电力 行业核心需求，解决传统多源数据整合、动态仿真与预测方面的短板问题，筑牢能源安全防线，支撑客 户智能化精益管理进阶。建设完成后，公司将通过提供平台运营服务、定制化应用开发等方式实现收 入。 ...

南财智讯1月6日电，南网数字在投资者关系活动中表示，时空智能数字孪生平台建设项目总投资 33,954.93万元，主要用于建设数字电网孪生主平台和基础算力，升级生产运行支持、计量管理等系统， 为能源电力行业提供全链条数字孪生仿真支撑。项目建成后，公司将通过平台运营服务、定制化应用开 发等方式实现收入，不以一次性销售为主。 ...

投资者活动基本情况 2026年1月6日，南方电网数字电网研究院股份有限公司（下称"南方电网数字研究院"）以特定对象调研 形式接待了中信证券团队。本次调研于当日9:30-10:30在公司会议室举行，中信证券电力与新能源组研 究员李子硕、许文荣，广州临江大道营业部市场总监舒迈、客户经理林沁璇参与调研。公司总会计师兼 董事会秘书杜伟伦、证券管理部总经理及证券事务代表易晓丽等高管负责接待并回应了市场关切。 调研核心要点解析 "电鸿"物联操作系统：模组销售与技术服务双轮驱动 数字基础设施业务：聚焦央国企数字化转型 完善"云管边端"布局 针对"电鸿"物联操作系统的收入模式及商业模式，公司介绍，该系统是基于国家开源体系研发的国内首 个电力物联操作系统，目前主要通过销售"电鸿"系列核心模组、提供定制化"电鸿"特性行业组件技术服 务实现收入。未来1-2年，公司将持续构建"电鸿"生态，依托开放技术平台与合作机制，拓展智能硬件 终端及软件系统在电网领域的市场份额。 在数字基础设施业务布局方面，公司表示，该业务以通用技术平台与底层算力资源为支撑，主要面向大 型央国企提供定制化数字化转型技术底座。结合募投项目"能源行业数据要素流通交易 ...

Group 1: Business Model and Revenue Generation - The "Dianhong" IoT operating system is the first domestic power IoT operating system developed based on the national open-source system, primarily generating revenue through the sale of "Dianhong" core modules and providing customized technical services for industry-specific components [2] - The company aims to continuously build the "Dianhong" ecosystem by expanding its market share in smart hardware and software systems within the power grid sector [2] Group 2: Investment and Project Significance - The total investment for the "Spatiotemporal Intelligent Digital Twin Platform Construction Project" is 339.5493 million yuan, focusing on digital grid twin main platform system construction and foundational computing power [3] - This project aims to enhance decision-making efficiency and management levels in the energy sector by addressing traditional data integration and dynamic simulation challenges [3] Group 3: Digital Infrastructure and Client Base - The company's digital infrastructure business is widely applicable, providing customized digital transformation technology bases for large state-owned enterprises [3] - The company plans to strengthen digital infrastructure construction and optimize cloud services, including the establishment of a "3+1+X" cloud data center and enterprise-level data lakes [3] Group 4: Order Status and Future Expansion - As of June 30, 2025, the total orders on hand amount to 8.037 billion yuan, with non-related customer orders at 810 million yuan [3] - The company intends to gradually expand its business into the State Grid region and overseas, leveraging its accumulated technology and experience in the digital transformation of the power industry [3]

Core Viewpoint - Southern Power Grid Digital Research Institute Co., Ltd. (referred to as "Southern Digital") has successfully listed on the Shenzhen Stock Exchange's ChiNext board, with a significant opening price and trading performance, indicating strong market interest and potential for growth [1]. Group 1: Company Overview - Southern Digital provides comprehensive digital construction solutions for the power energy sector, aiming to build a world-class digital and intelligent innovation platform for power grids [1]. - The controlling shareholder is Southern Power Grid Digital Grid Group Co., Ltd., which holds 62.90% of the shares prior to the public offering [1]. - The actual controller of the company is the State-owned Assets Supervision and Administration Commission of the State Council [1]. Group 2: Financial Performance - In 2022, 2023, and 2024, the company's operating revenues were 568,625.21 million, 423,446.96 million, and 608,972.26 million respectively, with net profits of 65,327.06 million, 37,743.61 million, and 57,445.98 million [4]. - For the first nine months of 2025, the company reported operating revenue of 277,924.27 million, a year-on-year increase of 31.88%, and achieved profitability [8]. - The company expects 2025 operating revenue to be between 640,000 million and 670,000 million, with a projected net profit for shareholders ranging from 57,200 million to 60,000 million [8]. Group 3: Fundraising and Investment Projects - Southern Digital issued 47,694.7534 million new shares, raising a total of 271,383.15 million, with a net amount of 263,841.41 million after deducting issuance costs [2]. - The funds raised will be allocated to various projects, including a spatial intelligent digital twin platform and an advanced digital energy technology research base [3][2]. - The total investment for the fundraising projects amounts to 255,446.06 million, with detailed allocations for each project outlined [3]. Group 4: Shareholder Returns - The company has conducted three cash dividend distributions during the reporting period, totaling 340 million [9]. - The cash dividends distributed were 50 million in 2022, 200 million in 2023, and 90 million in 2024 [9].

Group 1 - Southern Power Grid Digital Grid Research Institute Co., Ltd. (referred to as "Southern Grid Digital") was listed on the Shenzhen Stock Exchange's ChiNext board on November 18, issuing 47,694.7534 million A-shares at a price of 5.69 CNY, with the stock price surging by 261.51% on the opening day and reaching a total market value of 59.523 billion CNY [2] - The listing marks a significant breakthrough for Southern Power Grid in integrating into the capital market and indicates a new development stage in its comprehensive digital and intelligent transformation [2] - Southern Grid Digital's business encompasses three main areas: digitalization of the power grid, enterprise digitalization, and digital infrastructure [2] Group 2 - The chairman of Southern Power Grid stated that the company will implement the strategies of Digital China and Energy Power Nation, aiming to strengthen and expand the digital grid industry ecosystem to better support the intelligent, green, and integrated transformation of the energy and power industry [3] - Southern Grid Digital plans to use the funds raised from the IPO to invest in projects such as the construction of a spatial-temporal intelligent digital twin platform, a new generation of intelligent IoT perception and collaborative control systems, and advanced power artificial intelligence platforms [3] - The company aims to enhance its technological accumulation and industrialization in the digital grid field, positioning itself as a leading listed company in this sector [3]

Core Viewpoint - The company, Southern Power Grid Digital, has successfully completed its initial public offering (IPO), raising approximately 2.714 billion yuan through the issuance of 47.6947534 million shares at a price of 5.69 yuan per share, with a significant increase in stock price post-listing [4][5]. Group 1: Company Overview - Southern Power Grid Digital was established in 2017 and is based in Guangzhou, focusing on the software and information technology services industry [5]. - The company plays a crucial role in supporting the digital transformation strategy of the Southern Power Grid and is a key player in the construction of digital grids [5]. Group 2: Business Focus - The company aims to drive the digital transformation of the power energy sector, developing three main business systems: digital grid, enterprise digitalization, and digital infrastructure [5]. - The digital grid business includes intelligent operation systems and IoT sensing devices, utilizing a technology route that combines micro-sensing, edge computing, and data fusion [5]. - The enterprise digitalization business offers comprehensive services for large enterprises' digital transformation, integrating core technologies like artificial intelligence [5]. - The digital infrastructure business focuses on cloud-integrated platforms and data center services, providing computational power and technical support for the company's operations and clients [5]. Group 3: Financial Highlights - For the fiscal year 2024, the company is projected to achieve a revenue of 6.09 billion yuan and a net profit of approximately 570.31 million yuan [4]. - The total investment for the projects funded by the IPO proceeds amounts to approximately 25.544606 billion yuan, with specific allocations for various digital infrastructure projects [4].

Core Viewpoint - Southern Power Grid Digital Research Institute Co., Ltd. (referred to as "Southern Digital") has submitted its IPO registration for the ChiNext board, aiming to raise approximately 2.554 billion yuan for various digital infrastructure projects [1] Group 1: Company Overview - Southern Digital provides comprehensive digital construction solutions based on next-generation information technology for clients in the power energy sector [1] - The company is gradually expanding its products and services into other sectors, including transportation, water supply and gas, public administration, and urban construction [1] Group 2: IPO Details - The IPO application was accepted on June 27, 2025, entered the inquiry phase on July 6, 2025, and was approved on September 26, 2025 [1] - The funds raised will be allocated to several projects, including the construction of a spatial intelligent digital twin platform and a new generation intelligent IoT perception and collaborative control system [1][1]

Core Viewpoint - Southern Power Grid Digital Research Institute Co., Ltd. (referred to as "Southern Digital") is set to undergo an IPO on the ChiNext board on September 26, 2023, aiming to raise approximately 2.554 billion yuan for various digital infrastructure projects [1][1][1] Group 1: IPO Details - Southern Digital's IPO was accepted on June 27, 2025, and entered the inquiry phase on July 6, 2025 [1] - The company focuses on providing comprehensive digital construction solutions for clients in the power energy sector, with plans to expand its products and services into transportation, water supply and gas, public administration, urban construction, and other fields [1][1] Group 2: Fundraising and Investment Projects - The funds raised from the IPO will be allocated to several key projects, including: - Construction of a spatial-temporal intelligent digital twin platform - Development of a new generation intelligent IoT perception and collaborative control system - Establishment of an advanced power artificial intelligence platform and smart production marketing application - Creation of a new generation of domestic intelligent management systems for enterprises - Development of a data element circulation trading and service platform for the energy industry - Construction of an advanced digital energy technology R&D base and technology delivery center in Shenzhen [1][1][1]

Core Viewpoint - The Shenzhen Stock Exchange will hold its 22nd listing review committee meeting on September 26, 2025, to review the IPO application of Southern Power Grid Digital Grid Research Institute Co., Ltd. (referred to as "Southern Digital") [1] Fundraising Projects - Southern Digital plans to raise a total of 255,446.06 million yuan for various projects, including: - Construction of a spatiotemporal intelligent digital twin platform with an investment of 33,954.93 million yuan [2] - Development of a new generation intelligent IoT perception and collaborative control system with an investment of 41,064.26 million yuan [2] - Establishment of an advanced power artificial intelligence platform and smart production marketing application with an investment of 25,997.90 million yuan [2] - Creation of a new generation of domestic intelligent management systems with an investment of 50,724.52 million yuan [2] - Development of an energy industry data element circulation trading and service platform with an investment of 25,664.45 million yuan [2] - Construction of an advanced digital energy technology R&D base and technology delivery center in Shenzhen with an investment of 78,040.00 million yuan [2] Shareholding Structure - As of the signing date of the prospectus, Southern Power Grid Digital Grid Group Co., Ltd. holds 200,000.00 million shares, accounting for 74.00% of the total share capital, making it the controlling shareholder [2] - China Southern Power Grid Co., Ltd. indirectly controls 85.00% of the company through its subsidiaries, including Digital Group and various regional power grids [2] - The actual controller of the company is the State-owned Assets Supervision and Administration Commission of the State Council [2] Sponsorship - The sponsor for Southern Digital's IPO is China Merchants Securities Co., Ltd., with representatives Zhao Haiming and Chen Chunxin [3]