文｜张子怡 财务数据方面，天顿数据提供的数据显示，2025年第一季度，公司营收达到1.74亿元并实现盈利，凭借 近三年1091%的营收增长率，入选2025德勤中国高科技高成长50强。目前，公司在手订单规模超百亿 元，服务客户近200家，涵盖头部云服务商与AI企业。 值得注意的是，天顿数据背后的母公司粤港湾控股通过债务重组优化了资产负债结构，并于同年10月完 成对天顿数据海外控股主体Wisdom集团的收购，正式切入AI智算赛道。财报显示，受益于债务重组及 新业务并表，粤港湾控股2025年中期业绩实现扭亏为盈，净资产较年初增长30倍。 在业务拓展层面，2025年12月，天顿数据与光通信领域龙头华工科技（000988）达成合作，共同打造智 能算力解决方案；2026年1月，其位于深圳龙岗的"润六尺-天顿大湾区AI推理算力产业基地"正式启动， 首期1000台高性能推理服务器集群已投产。此外，公司还与江苏连云港国企签署了总额16.8亿元的算力 运营合作意向。 「天顿数据」是港股上市公司粤港湾控股（01396.HK）旗下的核心子公司，定位为智算建设运营服务 商。公司主要提供"绿能智算"全生命周期服务，包括AIDC（人工智能 ...

国元证券发布研报指，粤港湾控股通过收购天顿数据完成战略转型，形成"基建+AI"双轮驱动模式。凭 借天顿数据的万卡集群能力、头部客户资源，以及债转股后优化的财务结构，公司具备重估空间。更重 要的是，公司在完成转型后，形成了"低负债财务+高成长智算"的优质组合，既具备传统企业转型的稳 健性，又拥有科技赛道的成长性。随着公司的业务结构改善，增长预期可能陆续在2026年业绩中兑现。 粤港湾控股(01396)再涨近10%，月内累计涨幅已超40%。截至发稿，涨6.91%，报6.81港元，成交额 3014.83万港元。 根据公开资料显示，深圳天顿数据科技有限公司是中国第一梯队智算建设运营商，是内最早布局国标A 级第三方数据中心的企业之一，能够提供"绿能智算"全生命周期服务。在全国运营超过3万台机架，总 算力规模超5万P。 ...

Group 1 - The core viewpoint of the article highlights that Yuegangwan Holdings (01396) has seen a significant stock price increase of nearly 10%, with a cumulative rise of over 40% within the month, indicating strong market performance [1] - According to Guoyuan Securities, Yuegangwan Holdings has completed a strategic transformation through the acquisition of Tiandun Data, establishing a "infrastructure + AI" dual-driven model [1] - The company benefits from Tiandun Data's capabilities in large-scale computing clusters and strong client resources, along with an optimized financial structure post-debt-to-equity swap, suggesting potential for revaluation [1] Group 2 - The transformation has resulted in a combination of "low debt finance + high growth intelligent computing," providing both stability from traditional enterprise transformation and growth potential from the technology sector [1] - As the company's business structure improves, growth expectations may begin to materialize in the 2026 performance [1] - Tiandun Data is recognized as a leading intelligent computing operator in China, being one of the earliest to establish national standard A-level third-party data centers, offering full lifecycle services for "green intelligent computing" [1]

Group 1 - The core point of the article is that Guangdong-Hong Kong Bay Holdings (01396) has resumed trading and experienced a significant price increase, rising over 40% at one point and currently up 28.17% to HKD 4.55, with a trading volume of HKD 6.0399 million [1] - The company announced a conditional agreement to acquire all issued shares of Wisdom Knight Holdings Limited for HKD 977 million, with the acquisition price set at HKD 3.15 per share [1] - The acquisition will require special authorization from shareholders at a special general meeting, and the shares issued for the acquisition will represent approximately 38.08% of the company's existing issued share capital as of the announcement date [1] Group 2 - Wisdom Knight Holdings Limited is identified as a full lifecycle service provider in the "green energy intelligent computing" sector, primarily engaged in AI business in China [1] - The target group's services include providing AI computing power technology services, operating AI computing centers, and developing comprehensive AI solutions [1] - Upon completion of the acquisition, the issued share capital of the company will increase by approximately 27.58%, assuming no other changes to the existing share capital [1]

Group 1 - The company has entered into a conditional sale and purchase agreement to acquire all issued shares of Wisdom Knight Holdings Limited for HKD 977 million, with a share price of HKD 3.15 per share [1] - Following the completion of the acquisition, Wisdom Knight Holdings Limited will become a wholly-owned subsidiary of the company, and its financial performance, assets, and liabilities will be consolidated into the company's financial statements [1] - The target group operates as a full lifecycle service provider for "green energy intelligent computing," primarily engaged in AI business in China, including AI computing power technology services, AI data center development, and comprehensive AI solutions [1] Group 2 - The consideration shares will represent approximately 38.08% of the company's issued share capital as of the announcement date and approximately 27.58% of the enlarged issued share capital post-issuance, assuming no other changes [2] - The issuance of consideration shares will require approval from independent shareholders at a special general meeting [2] - The company has applied to resume trading of its shares starting from 9:00 AM on July 30, 2025 [2]