7月4日，由深圳上市公司协会"人工智能与智能制造专委会"主办，协创数据（300857）承办的"智能算 力"专题沙龙成功举办。来自深圳行业主管部门、领军企业、投资机构与技术专家以及深上协的会员单 位代表，围绕人工智能与智能制造融合发展的关键议题展开深入探讨。 此次沙龙的成功举办，充分体现出协创数据在人工智能领域的技术实力与行业影响力。协创数据表示 AI技术日新月异，甚至"时新时异"，公司将持续加大研发投入，深化产业链合作，为推动"AI+制造"融 合发展贡献更多创新方案。作为深圳上市公司协会"人工智能与智能制造专委会"副主任委员单位，协创 数据也将持续支持专委会工作，积极参与后续系列活动，与各界携手探索人工智能技术创新与产业应用 的新方向。 值得关注的是，协创数据在算力领域的布局持续加码。日前，公司公告拟使用自有资金向全资子公司协 创云算科技(深圳)有限公司(简称"协创云算")增资9.4亿元，用于扩大算力服务规模、优化数据中心布局 及提升云平台技术能力。此次增资后，协创云算注册资本从1000万元增至9.5亿元，成为协创数据算力 业务的核心载体。截至2025年3月，协创数据已签署不超过30亿元的服务器采购合同，5月 ...

Core Viewpoint - The company is aggressively expanding its computing power leasing business, making significant investments that raise financial risks and pressures, while also facing procurement and performance challenges [1][2][7]. Financial Pressure - The company plans to purchase servers worth up to 40 billion yuan, following a previous procurement of 30 billion yuan, totaling nearly 70 billion yuan in three months, which is over 50% of its latest audited net assets [1][8][9]. - The asset-liability ratio increased from 55.66% at the end of 2024 to 65.80% by the end of Q1 2025, indicating a significant rise in financial leverage [1][9]. - The company reported a sharp increase in short-term and long-term borrowings, with short-term loans rising over 50% to 19.74 billion yuan and long-term loans skyrocketing from 0.20 billion yuan to 17.80 billion yuan [9][12]. Business Expansion and Market Demand - The company is experiencing high demand for its computing power services, with a full order book prompting the second batch of server procurement [2][19]. - The company aims to build a large-scale intelligent computing center, indicating a long-term vision for growth in the computing power sector [6][17]. - The computing power leasing business is expected to contribute to revenue in the second half of the year, with existing contracts already generating income [2][19]. Procurement Challenges - The company faces potential procurement risks due to international trade disputes, which could affect the supply of high-performance servers [1][15]. - The company has established partnerships with multiple suppliers, including NVIDIA, to mitigate procurement risks and ensure a steady supply of servers [16][18]. Management and Market Sentiment - The company's stock price has risen by 12.29% recently, reflecting positive market sentiment towards its computing power expansion [2]. - However, there are concerns regarding insider selling, as several executives have announced plans to reduce their holdings, which may signal a lack of confidence in the company's future performance [23].

5月21日下午，协创数据（300857）参加集体业绩说明会活动，向市场展示公司经营业绩、发展战略及 创新成果，积极回应投资者最新关切。作为数字经济领域勇挑重担、引领突破的标杆企业，协创数据已 经连续两年在深交所交易大厅召开集体业绩说明会。此次业绩说明会以"智脑赋能.逐梦新蓝海"，旨在 推动人工智能与实体经济深度融合，培育壮大智能产业，加快发展新质生产力，为经济高质量发展提供 新动能。 2024年，协创数据实现营业收入74.1亿元，同比增长59.08%；扣非归母净利润录得6.71亿元，同比增长 144.33%；截至2024年12月31日，公司净资产收益率录得24.31%，同比增长33.94%；现金分红7185.98万 元。 协创数据董事会秘书甘杏在开场致辞中表示，目前，协创数据已构建了"智能终端+算力基建+云端服 务"三位一体的产业模式，智慧存储、智能物联、云服务、算力服务器、算力回收等多条业务线齐头并 进。2025年，协创数据发布FCloud智能体训推创新平台产品，为客户提供一站式的算力训练、推理服 务。值得关注的是，FCloud旗下的Omnibot全栈式具身智能机器人开发平台也于近期正式上线，能够为 机器人 ...

Core Viewpoint - The company, Xiechuang Data, is actively expanding its capabilities in computing power and robotics, reporting significant revenue growth and strategic partnerships in these areas [1][2][3] Group 1: Financial Performance - In Q1 2025, the company achieved a revenue of 2.077 billion yuan, representing an 18.11% year-on-year increase [1] - The net profit attributable to shareholders for Q1 2025 was 169 million yuan, showing a 4.29% year-on-year growth [1] - Total assets increased by 36.85% compared to the beginning of the year [1] Group 2: Business Development - The company has signed contracts with multiple leading enterprises in its computing power business, focusing on high-end computing and cloud services [3] - The company is enhancing its cloud computing, smart store, e-commerce SaaS, and server remanufacturing investments, with significant revenue growth in intelligent computing and cloud services [3] - The company launched the FCloud intelligent training platform on January 24, 2025, aimed at various sectors including robotics, biopharmaceuticals, and finance [3] Group 3: Strategic Initiatives - The company is committed to building a comprehensive intelligent computing ecosystem and aims to become a global leader in cloud services [2] - The company’s subsidiary, Aojia Software, obtained NVIDIA CLOUD PARTNER certification, indicating its capability in AI computing leasing and cloud services [2] - The company is actively developing a full-stack embodied intelligent robot development platform, which has recently gone live [1][3]

Group 1: Business Performance and Financials - In Q1 2025, the company achieved revenue of 2,077.32 million yuan, a year-on-year increase of 18.11% [7] - The net profit attributable to shareholders in Q1 2025 was 169.21 million yuan, up 4.29% year-on-year [7] - Total assets as of March 31, 2025, reached 9,996.56 million yuan, reflecting a growth of 36.85% since the beginning of the year [7] Group 2: Strategic Initiatives and Market Position - The company plans to enhance its position in the AI and AGI sectors by increasing its investment in computing power services and cloud services [2] - The company has established a comprehensive platform for service robots, including advanced manufacturing capabilities such as robotic dogs and humanoid robots [2][4] - The company has obtained NVIDIA CLOUD PARTNER certification, indicating its capability in AI computing rental and cloud services [3] Group 3: Research and Development - R&D expenses have increased by 53.84%, with an expected revenue generation timeline of approximately 18 months from the start of investment [2] - The company is focusing on innovation and talent development, with increased investments in R&D and employee compensation [7] Group 4: Market Demand and Competition - The company is actively engaged in the computing power rental market, with a stable pricing strategy aimed at high-quality clients [8] - The expected return on investment for computing power rental services is reported to be between 28% and 35% [8] Group 5: Product Development and Future Outlook - The FCloud intelligent training platform was launched on January 24, 2025, and is expected to generate revenue in the future [9] - The company’s IoT smart terminal products achieved revenue of 2.259 billion yuan in 2024, marking a 60.82% year-on-year growth [9]

Core Viewpoint - The company held its 2024 annual performance briefing, highlighting strong growth in revenue and net profit, alongside strategic developments in various business sectors, including AI, cloud services, and smart IoT devices [1][11][14]. Group 1: Financial Performance - In 2024, the company achieved a revenue of 74.10 billion yuan, representing a year-on-year increase of 59.08% [11][14]. - The net profit attributable to shareholders was 6.92 billion yuan, up 140.80% from the previous year [11][14]. - The net profit after deducting non-recurring gains and losses was 6.71 billion yuan, reflecting a growth of 144.33% year-on-year [11][14]. Group 2: Business Strategy and Development - The company is focusing on developing new capabilities in computing power and embodied intelligence, while maintaining its core business in storage devices and IoT terminals [1][5]. - The strategic core is centered around an "intelligent IoT ecosystem," integrating smart terminals, computing infrastructure, and cloud services [1][19]. - The company has established a comprehensive product system in the smart IoT terminal field, covering AIoT hardware, data storage terminals, edge computing devices, and smart control terminals [1][19]. Group 3: Market and Product Insights - The company is actively expanding its server recycling business, which is primarily aimed at sales rather than self-use [4][6]. - The demand for server recycling is strong, and the company is increasing its investment to enhance competitiveness in this area [4][6]. - The company’s overseas revenue is mainly derived from sales to regions such as Hong Kong, Singapore, and India, with a low proportion of direct sales to the U.S. [15][19]. Group 4: Future Outlook - The company plans to continue expanding its computing power service sector and aims to become a leading comprehensive cloud service platform globally [5][20]. - The company is also focusing on the development of service robots, including machine dogs and humanoid robots, to enhance its advanced manufacturing capabilities [2][5]. - The company is committed to maintaining a robust talent management system to support its growth and development [4][5].