证券研究报告·公司点评报告·计算机设备 苏州科达（603660） 把握 AI+机遇，积极拓展海外市场 2025 年 11 月 28 日 买入（维持） | [Table_EPS] 盈利预测与估值 | 2023A | 2024A | 2025E | 2026E | 2027E | | --- | --- | --- | --- | --- | --- | | 营业总收入（百万元） | 1,816 | 1,331 | 1,396 | 1,594 | 1,853 | | 同比（%） | 15.19 | (26.73) | 4.92 | 14.18 | 16.21 | | 归母净利润（百万元） | (264.45) | (203.45) | 7.79 | 39.90 | 108.07 | | 同比（%） | 54.65 | 23.07 | 103.83 | 412.39 | 170.82 | | EPS-最新摊薄（元/股） | (0.46) | (0.35) | 0.01 | 0.07 | 0.19 | | P/E（现价&最新摊薄） | (21.57) | (28.03) | 732.36 | 142.93 | 52. ...

Core Viewpoint - Suzhou Keda experienced a stock price decline of 2.03% on November 28, with a current price of 9.65 CNY per share and a market capitalization of 5.588 billion CNY. The company has seen a year-to-date stock price increase of 43.82% but has faced a recent decline over the past five trading days [1]. Financial Performance - For the period from January to September 2025, Suzhou Keda reported a revenue of 741 million CNY, reflecting a year-on-year growth of 0.19%. However, the net profit attributable to shareholders was -351 million CNY, showing a slight increase of 1.38% year-on-year [2]. - The company has cumulatively distributed 142 million CNY in dividends since its A-share listing, with no dividends distributed in the past three years [3]. Business Overview - Suzhou Keda, established on June 10, 2004, and listed on December 1, 2016, specializes in the development, manufacturing, and sales of software and hardware for video conferencing systems, video surveillance systems, and integrated communication systems. The revenue breakdown includes 37.44% from industry application products and solutions, 35.18% from video conferencing, 22.13% from video surveillance, and 5.25% from other sources [2]. - The company operates within the computer equipment sector and is involved in various concept sectors, including emergency management, small-cap stocks, spatiotemporal big data, online education, and electronic license plates [2]. Shareholder Information - As of September 30, the number of shareholders for Suzhou Keda was 39,200, a decrease of 20.76% from the previous period. The average number of tradable shares per shareholder increased by 30.59% to 14,052 shares [2].

Company Overview - Suzhou Keda Technology Co., Ltd. is located at 131 Jinshan Road, Suzhou High-tech Zone, Jiangsu Province, established on June 10, 2004, and listed on December 1, 2016 [1] - The company specializes in the development, manufacturing, sales, and technical services of software and hardware for video conferencing systems, video surveillance systems, and integrated communication systems [1] - The revenue composition includes: industry application products and solutions 37.44%, video conferencing 35.18%, video surveillance 22.13%, and others 5.25% [1] Stock Performance - As of October 21, the stock price increased by 2.10% to 8.28 CNY per share, with a trading volume of 69.88 million CNY and a turnover rate of 1.56%, resulting in a total market capitalization of 4.598 billion CNY [1] - Year-to-date, the stock price has risen by 23.40%, with a 3.37% increase over the last five trading days, a 1.90% decrease over the last 20 days, and a 14.36% increase over the last 60 days [1] - The company has appeared on the "Dragon and Tiger List" once this year, with the most recent occurrence on September 1, where the net buying amounted to 48.08 million CNY, accounting for 28.19% of total trading volume [1] Financial Performance - For the first half of 2025, Suzhou Keda achieved operating revenue of 475 million CNY, representing a year-on-year growth of 13.24%, while the net profit attributable to shareholders was -217 million CNY, showing a year-on-year increase of 16.25% [2] - The total cash dividends distributed since the A-share listing amount to 142 million CNY, with no dividends distributed in the last three years [3] Shareholder Information - As of June 30, 2025, the number of shareholders is 49,500, a decrease of 9.20% from the previous period, with an average of 10,760 circulating shares per person, an increase of 10.13% [2] - The top ten circulating shareholders include a notable change, with the "Zhaoshang Quantitative Selected Stock Initiation A" (001917) exiting the list [3]

Core Viewpoint - Suzhou Keda's stock price has experienced fluctuations, with a year-to-date increase of 19.52% but a recent decline of 6.85% over the past five trading days [1] Financial Performance - For the first half of 2025, Suzhou Keda achieved a revenue of 475 million yuan, representing a year-on-year growth of 13.24% [2] - The company reported a net profit attributable to shareholders of -217 million yuan, which is a year-on-year increase of 16.25% [2] Stock Market Activity - As of October 16, Suzhou Keda's stock price was 8.02 yuan per share, with a market capitalization of 4.453 billion yuan [1] - The stock has seen a net inflow of main funds amounting to 3.5244 million yuan, with significant buying activity [1] Shareholder Information - As of June 30, 2025, the number of shareholders for Suzhou Keda was 49,500, a decrease of 9.20% from the previous period [2] - The average number of circulating shares per shareholder increased by 10.13% to 10,760 shares [2] Dividend Information - Since its A-share listing, Suzhou Keda has distributed a total of 142 million yuan in dividends, with no dividends paid in the last three years [3] Company Overview - Suzhou Keda, established on June 10, 2004, and listed on December 1, 2016, specializes in video conferencing systems, video surveillance systems, and integrated communication systems [1] - The company's revenue composition includes industry application products and solutions (37.44%), video conferencing (35.18%), video surveillance (22.13%), and others (5.25%) [1]

Company Overview - Suzhou Keda Technology Co., Ltd. is located at 131 Jinshan Road, Suzhou High-tech Zone, Jiangsu Province, established on June 10, 2004, and listed on December 1, 2016 [2] - The company's main business includes the development, manufacturing, sales, and technical services of video conferencing systems, video surveillance systems, and integrated communication systems [2] - Revenue composition: Industry application products and solutions 37.44%, video conferencing 35.18%, video surveillance 22.13%, others 5.25% [2] - The company belongs to the Shenwan industry classification: Computer - Computer Equipment - Other Computer Equipment, and is associated with concepts such as holographic concepts, margin trading, virtual reality, machine vision, and Huawei concepts [2] Financial Performance - As of June 30, 2025, Suzhou Keda achieved operating revenue of 475 million yuan, a year-on-year increase of 13.24%, while the net profit attributable to the parent company was -217 million yuan, a year-on-year increase of 16.25% [2] - The company has cumulatively distributed 142 million yuan in dividends since its A-share listing, with no dividends distributed in the past three years [3] Stock Performance - On September 16, the stock price increased by 2.13%, reaching 8.62 yuan per share, with a trading volume of 192 million yuan and a turnover rate of 4.24%, resulting in a total market value of 4.627 billion yuan [1] - Year-to-date, the stock price has risen by 28.46%, with a recent decline of 0.81% over the last five trading days, a 7.75% increase over the last 20 days, and a 21.58% increase over the last 60 days [1] - The company has appeared on the "Dragon and Tiger List" once this year, with the most recent appearance on September 1, where it recorded a net purchase of 48.0836 million yuan [1]

记者注意到，针对基层先期处置、指挥部运行、实兵拉动、"三断"极端场景应对、次生灾害抢险救 援等关键环节，演练设置了灾情侦测快报、启动应急响应、属地政府应急动员、属地先期应急处置、受 灾群众安置、紧急医疗救援、省级应急力量增援等科目。科目设置，对受灾地区的乡镇村组在灾害初期 群众疏散、自救互救、灾情检查、伤员临时救治、"三断"情况下兜底通信保障能力等方面进行了实战验 证，并检验了学校、大型企业等人员密集场所在受灾情况下人员疏散转移的响应处置能力。 值得一提的是，演练过程中，航空救援手段、空天地人一体化监测预警体系、医疗救援设备、融合 通信系统等集中亮相。并调派了2架直升机、1架大型固定翼无人机，组织"孤岛"索降、直升机转运"伤 员"等演练，探索高山峡谷应急救援新手段，提升航空救援力量在复杂极端环境下的应急处置与协同作 战能力。同时，还利用卫星遥感、无人机侦查、三维建模等多类技术，形成灾前灾后对比解译分析，辅 助现场指挥决策。 据悉，此次演练还组建了集"应急通信和无人机"于一体的应急通信重型队，拓展"三断"条件下空中 投送急救药品、重要物资的方法手段，整个演练持续时间长约10小时。 中新网雅安5月12日电 (记者 ...