10月15日，协创数据盘中上涨2.25%，截至10:01，报149.27元/股，成交5.70亿元，换手率1.12%，总市 值516.65亿元。 资金流向方面，主力资金净流入1625.06万元，特大单买入5006.92万元，占比8.78%，卖出4579.35万 元，占比8.03%；大单买入1.37亿元，占比24.06%，卖出1.25亿元，占比21.96%。 分红方面，协创数据A股上市后累计派现1.39亿元。近三年，累计派现1.14亿元。 机构持仓方面，截止2025年6月30日，协创数据十大流通股东中，易方达创业板ETF（159915）位居第 四大流通股东，持股550.32万股，为新进股东。南方中证500ETF（510500）位居第五大流通股东，持 股355.20万股，为新进股东。广发科技创新混合A（008638）位居第七大流通股东，持股251.80万股， 为新进股东。香港中央结算有限公司位居第八大流通股东，持股220.93万股，相比上期增加90.41万股。 易方达中证人工智能主题ETF（159819）位居第九大流通股东，持股206.04万股，为新进股东。广发小 盘成长混合(LOF)A（162703）位居第十大流 ...

数据显示，华安基金旗下1只基金重仓协创数据。华安科技创新混合A（008635）二季度持有股数8.4万 股，占基金净值比例为2.95%，位居第五大重仓股。根据测算，今日浮亏损失约68.54万元。连续3天下 跌期间浮亏损失186.14万元。 华安科技创新混合A（008635）成立日期2020年3月6日，最新规模2.41亿。今年以来收益32.49%，同类 排名2754/8162；近一年收益41.11%，同类排名1970/8015；成立以来收益49.56%。 10月14日，协创数据跌5.11%，截至发稿，报151.67元/股，成交16.39亿元，换手率3.02%，总市值 524.96亿元。协创数据股价已经连续3天下跌，区间累计跌幅12.18%。 资料显示，协创数据技术股份有限公司位于广东省深圳市福田区深南大道耀华创建大厦1座12层1209号 房，成立日期2005年11月18日，上市日期2020年7月27日，公司主营业务涉及消费电子领域物联网智能 终端和数据存储设备等产品的研发、生产和销售,并不断紧跟技术变革与市场的发展趋势,推出新产品。 主营业务收入构成为：数据存储设备37.11%，智能算力产品及服务24.69%，物 ...

Core Insights - OmniBot has achieved an end-to-end closed loop from cloud simulation to physical deployment, marking a new phase in robot development [1][2] - The domestic robot industry is experiencing significant growth, with a year-on-year increase of 27.8% in the first half of the year, and humanoid robots growing nearly 40% [2] Group 1: OmniBot and Robotics Development - OmniBot integrates NVIDIA Isaac Sim/Isaac Lab simulation environment and NVIDIA GROOT robot intelligence model with its own cloud platform, creating a comprehensive cloud-based robot development and operation system [2] - The platform allows developers to complete model training in the cloud and deploy models to robots via edge computing, significantly lowering development barriers and costs [2] - OmniBot is adaptable to various applications such as industrial sorting, assembly operations, scientific education, and services, potentially reducing costs in robot development [2] Group 2: Computing Power Leasing Industry - The computing power leasing market in China is expected to exceed 100 billion yuan by the end of 2024 and is projected to expand to 260 billion yuan by 2026 [3] - The company has completed a bank credit application of 20.5 billion yuan and is advancing its H-share listing plan to enhance its financial base [3] - The company plans to expand its cloud services and computing power leasing business to capitalize on the booming computing power market [3] Group 3: Server Remanufacturing Market - The company has established a complete automated production line for server disassembly, testing, and remanufacturing, positioning itself to benefit from the expanding server remanufacturing market [4] - The global server remanufacturing market is entering a "compliance refurbishment + performance upgrade" cycle, which is favorable for domestic production capacity [3][4] Group 4: Financial Performance - In the first half of 2025, the company achieved a revenue of 4.944 billion yuan, a year-on-year increase of 38.18%, and a net profit of 432 million yuan, up 20.76% [5] - The second quarter saw a significant revenue increase of 57.58% year-on-year, reaching 2.867 billion yuan, with a net profit growth of 34.42% [5] - Key revenue contributors include intelligent computing products and services, which generated 1.221 billion yuan (up 100%) and server peripherals and remanufacturing, which generated 835 million yuan (up 119.49%) [5][6]

Investment Rating - The report assigns a "Buy" rating for the company, marking its first coverage [1][14]. Core Views - The OmniBot platform has achieved an end-to-end closed loop from cloud simulation to physical deployment, marking a new phase in robot development [4][5]. - The domestic robotics industry is experiencing significant growth, with a year-on-year increase of 27.8% in the first half of the year, and humanoid robots growing nearly 40% [6]. - The company is expected to benefit from the expanding server remanufacturing market, which is entering a "compliance refurbishment + performance upgrade" cycle [9]. Summary by Sections Recent Performance - The company's stock has shown impressive performance over the past year, with a 396.1% increase compared to the Shanghai and Shenzhen 300 index's 36.2% [3]. Business Developments - The OmniBot platform integrates NVIDIA's simulation environment and robot intelligence models with its own cloud platform, significantly lowering development barriers and costs [5]. - The company has completed a bank credit application of 20.5 billion yuan and is advancing its H-share listing plan to enhance its financial base [7]. Financial Performance - In the first half of 2025, the company reported a revenue of 4.944 billion yuan, a year-on-year increase of 38.18%, and a net profit of 432 million yuan, up 20.76% [10]. - The second quarter saw a revenue of 2.867 billion yuan, a substantial year-on-year growth of 57.58%, with a net profit of 263 million yuan, up 34.42% [10]. Revenue Breakdown - Smart computing products and services generated 1.221 billion yuan in revenue, doubling year-on-year [10]. - Server peripherals and remanufacturing contributed 835 million yuan, also showing a significant increase of 119.49% year-on-year [11]. Future Projections - Revenue projections for 2025-2027 are 11.879 billion yuan, 17.261 billion yuan, and 23.640 billion yuan, respectively, with corresponding net profits of 1.255 billion yuan, 1.856 billion yuan, and 2.612 billion yuan [11][13]. - The expected EPS for 2025-2027 are 3.62 yuan, 5.36 yuan, and 7.55 yuan, with P/E ratios of 47.45, 32.08, and 22.79, respectively [11][14].

Group 1 - The core viewpoint of the news is that Xiechuang Data has experienced a significant stock price increase, rising 5.07% on September 17, with a total market capitalization of 57.09 billion yuan and an 8-day cumulative increase of 63.53% [1] - Xiechuang Data, established on November 18, 2005, and listed on July 27, 2020, specializes in the research, production, and sales of IoT smart terminals and data storage devices, continuously adapting to technological changes and market trends [1] - The company's main business revenue composition includes: data storage devices (37.11%), intelligent computing products and services (24.69%), IoT smart terminals (17.70%), server and peripheral remanufacturing (16.88%), and others (3.62%) [1] Group 2 - From the perspective of fund holdings, Zhejiang Merchants Securities Asset Management has a fund that heavily invests in Xiechuang Data, with the fund "Zhejiang Merchants Huijin Transformation Growth" holding 14,600 shares, accounting for 3.23% of the fund's net value [2] - The fund has achieved a year-to-date return of 37.07% and a one-year return of 61.86%, ranking 1869 out of 8172 and 2178 out of 7980 in its category, respectively [2] - The fund manager, Ma Binbo, has been in position for 7 years and 267 days, with the best fund return during his tenure being 78.16% [2]

风险提示：市场有风险，投资需谨慎。本文为AI大模型自动发布，任何在本文出现的信息（包括但不 限于个股、评论、预测、图表、指标、理论、任何形式的表述等）均只作为参考，不构成个人投资建 议。 从基金十大重仓股角度 责任编辑：小浪快报 数据显示，恒越基金旗下1只基金重仓协创数据。恒越优势精选混合（011815）二季度持有股数3.39万 股，占基金净值比例为2.95%，位居第十大重仓股。根据测算，今日浮盈赚取约23.79万元。连续7天上 涨期间浮盈赚取145.3万元。 9月16日，协创数据涨5.05%，截至发稿，报145.82元/股，成交24.38亿元，换手率4.93%，总市值504.71 亿元。协创数据股价已经连续7天上涨，区间累计涨幅44.59%。 恒越优势精选混合（011815）基金经理为吴海宁。 资料显示，协创数据技术股份有限公司位于广东省深圳市福田区深南大道耀华创建大厦1座12层1209号 房，成立日期2005年11月18日，上市日期2020年7月27日，公司主营业务涉及消费电子领域物联网智能 终端和数据存储设备等产品的研发、生产和销售,并不断紧跟技术变革与市场的发展趋势,推出新产品。 主营业务收入构成为： ...

风险提示：市场有风险，投资需谨慎。本文为AI大模型自动发布，任何在本文出现的信息（包括但不 限于个股、评论、预测、图表、指标、理论、任何形式的表述等）均只作为参考，不构成个人投资建 议。 华商双翼平衡混合A（001448）成立日期2015年6月16日，最新规模5126.24万。今年以来收益39.52%， 同类排名1193/8175；近一年收益78.69%，同类排名830/7982；成立以来收益145.7%。 华商双翼平衡混合A（001448）基金经理为胡中原。 截至发稿，胡中原累计任职时间6年179天，现任基金资产总规模230.88亿元，任职期间最佳基金回报 342.74%， 任职期间最差基金回报-0.45%。 9月11日，协创数据涨5.17%，截至发稿，报134.62元/股，成交30.64亿元，换手率6.84%，总市值465.95 亿元。协创数据股价已经连续4天上涨，区间累计涨幅33.33%。 资料显示，协创数据技术股份有限公司位于广东省深圳市福田区深南大道耀华创建大厦1座12层1209号 房，成立日期2005年11月18日，上市日期2020年7月27日，公司主营业务涉及消费电子领域物联网智能 终端和数据存 ...

Core Viewpoint - The company reported significant revenue growth in H1 2025, driven by the rapid development of computing power services and server remanufacturing, alongside synergies from IoT smart terminal products and storage business [1][2]. Financial Performance - The company achieved operating revenue of 4.944 billion yuan in H1 2025, a year-on-year increase of 38.18% [1]. - The net profit attributable to shareholders reached 432 million yuan, up 20.76% year-on-year [1]. - The net profit after deducting non-recurring gains and losses was 420 million yuan, reflecting an 18.59% year-on-year growth [1]. Business Segment Analysis - Data Storage Equipment: Revenue was 1.835 billion yuan, down 20.82% year-on-year, with a gross margin of 10.28%, a decrease of 1.54 percentage points [1]. - Intelligent Computing Products and Services: Revenue surged to 1.221 billion yuan, a 100% increase year-on-year, with a gross margin of 20.6% [1]. - IoT Smart Terminals: Revenue was 875 million yuan, down 11.61% year-on-year, with a gross margin of 34.45%, an increase of 2.24 percentage points [1]. - Server and Peripheral Remanufacturing: Revenue reached 835 million yuan, up 110.49% year-on-year, with a gross margin of 9.95%, a decrease of 0.72 percentage points [1]. Asset Growth and Future Prospects - The company has significantly increased its investment in computing power services, with announcements of server purchases totaling 30 billion yuan, 40 billion yuan, and 12 billion yuan in 2025 [2]. - As of mid-2025, fixed assets amounted to 2.479 billion yuan, an increase of 1.922 billion yuan from the beginning of the year [2]. - The company’s FcloudAI intelligent computing service supports over 50 mainstream models, indicating strong potential for future growth in computing power services [2]. Investment Outlook - Projected revenues for 2025, 2026, and 2027 are expected to be 10.952 billion yuan, 14.515 billion yuan, and 18.547 billion yuan, respectively [2]. - Expected net profits for the same years are projected to be 1.087 billion yuan, 1.578 billion yuan, and 2.082 billion yuan, respectively [2].

Investment Rating - The report maintains a "Strong Buy" rating for the company, expecting it to outperform the benchmark index by over 20% in the next six months [6][21]. Core Views - The company reported a revenue of 4.944 billion yuan for the first half of 2025, representing a year-on-year increase of 38.18%. The net profit attributable to shareholders was 432 million yuan, up 20.76% year-on-year [6][7]. - The company's strategy focuses on a three-pronged approach: "computing power foundation + cloud services + smart terminals," aiming for a global layout [6][7]. - The rapid growth in computing power demand is highlighted, with China becoming the largest single incremental market globally, driven by a 43% year-on-year increase in intelligent computing power [6][7]. Financial Summary - For the first half of 2025, the company achieved a revenue of 4.944 billion yuan, with a net profit of 432 million yuan, and a non-recurring net profit of 420 million yuan [6]. - The company forecasts total revenue of 10.43 billion yuan for 2025, with a year-on-year growth rate of 40.8% [6][7]. - The projected net profit for 2025 is adjusted to 1.018 billion yuan, reflecting a growth rate of 47.2% [6][7]. Business Segments - The server remanufacturing and intelligent computing services are experiencing high growth, with server remanufacturing revenue reaching 835 million yuan, a year-on-year increase of 119.49% [6][7]. - The intelligent computing products and services segment generated 1.221 billion yuan in revenue, with a gross margin of 20.60% [6][7]. Market Positioning - The company is expanding its smart manufacturing capabilities in Southeast Asia and North America, focusing on integrating industrial IoT with AI algorithms [6][7]. - The report emphasizes the importance of data and system integration for efficient operations and decision-making [6][7]. Price Target - The target price for the company's stock is set at 139.86 yuan, based on a valuation of comparable companies [6][7].