7月11日-13日，BilibiliWorld(BW2025)如期在国家会展中心(上海)召开。活动以24万平方米的展出面 积、超过1000位全球嘉宾UP主的豪华阵容，吸引了近30万人次参观，创亚洲最大ACGN展会。 作为新国货电竞装备企业，雷神科技携雷神、机械师双品牌强势登陆，隆重展示了雷神ZERO 18 Pro、 曙光 16S Ultra等全系旗舰新品，以"电竞+AI+二次元"的破圈组合，为Z世代打造沉浸式逛展体验，共赴 这场科技与ACGN深度交融的狂欢盛宴。 AI赋能，高能体验 伴随着国产AI大模型DeepSeek持续火爆，对AI技术的应用已成为行业关注的重要方向。其中，被视作 PC产业的第三次代际升级的AI PC，以及承载交互新场景的智能眼镜，迅速在行业内掀起热潮。在此背 景下，雷神科技创始人、董事长路凯林在三月举行的"超绝一代，颠覆战局"AI新品发布会上，再度提 出"聚焦AI技术与高性能硬件的融合，构建AIPC + AI智能眼镜+雷神AI智能体的产品生态体系"的发展目 标。 落地到此次BW2025现场，AI成为雷神科技展台的吸睛焦点。例如，雷神ZERO 18 Pro、雷神ZERO 16 Pro为英特尔 ...

Core Insights - Thunderobot has been recognized as the only brand in the "eSports all-scenario equipment" category in the 2025 "China's 500 Most Valuable Brands" report, with a brand value of 21.839 billion yuan, marking a 111.60% increase over five years, setting a new record [1] - The company has achieved five consecutive increases in brand value during a period of global economic adjustment, successfully transitioning from a brand value of 10 billion to over 20 billion yuan, solidifying its image as a new domestic brand in eSports equipment [1] Group 1: Innovation and AI Integration - Thunderobot has outlined a growth path focused on the integration of AI technology and high-performance hardware, creating an ecosystem that includes "AIPC + AI smart glasses + Thunderobot AI smart body" [2] - The development of the Thunderobot AI smart body reflects the company's AI strategy, with collaborations with Alibaba Cloud and DeepSeek to enhance AI capabilities and provide personalized services [2][4] - The AI-driven products, such as the Thunderobot ZERO 18 Pro and Aura AI smart glasses, have become market hits, showcasing the company's competitive edge in the eSports equipment sector [4] Group 2: Market Expansion and Revenue Growth - The growth in brand value is attributed not only to AI but also to Thunderobot's unique position as a leading brand in the eSports equipment industry and its successful penetration into overseas markets [5] - The company has shifted from merely selling devices to offering comprehensive eSports experiences, resulting in a compound annual growth rate of 47.32% for peripheral products from 2019 to 2023 [5][6] - Thunderobot's overseas business has become a significant growth engine, with revenue from international operations increasing from 107 million yuan in 2021 to 1.15 billion yuan in 2024, reflecting a compound annual growth rate of 120.7% [8]

上 市 公 司 计算机 2025 年 04 月 30 日 雷神科技 (872190) ——24H2 国补刺激 PC 市场复苏，关注 50 系显卡产品 及 AI 眼镜新品表现 报告原因：有业绩公布需要点评 增持（维持） | 市场数据： | 2025 年 04 月 30 日 | | --- | --- | | 收盘价（元） | 32.98 | | 一年内最高/最低（元） | 48.62/11.23 | | 市净率 | 3.8 | | 股息率%（分红/股价） | 0.30 | | 流通 A 股市值（百万元） | 3,254 | | 上证指数/深证成指 | 3,279.03/9,899.82 | | 注："股息率"以最近一年已公布分红计算 | | | 基础数据: | 2025 年 03 月 31 日 | | --- | --- | | 每股净资产（元） | 8.63 | | 资产负债率% | 51.66 | | 总股本/流通 A 股（百万） | 100/99 | | 流通 B 股/H 股（百万） | -/- | 一年内股价与大盘对比走势： 04-30 05-31 06-30 07-31 08-31 09-30 10- ...