亮相华为 HC 大会，空地一体打开成长空间 道通科技(688208) 证券研究报告 计算机设备 / 公司点评 / 2025.09.21 投资评级:增持(维持) | 基本数据 | 2025-09-19 | | --- | --- | | 收盘价(元) | 38.09 | | 流通股本(亿股) | 6.70 | | 每股净资产(元) | 5.24 | | 总股本(亿股) | 6.70 | 最近 12 月市场表现 0% 33% 66% 99% 133% 166% 道通科技 沪深300 分析师 杨烨 SAC 证书编号：S0160522050001 yangye01@ctsec.com 分析师 王妍丹 SAC 证书编号：S0160524040002 wangyd01@ctsec.com 相关报告 1. 《扣非净利润大增，业务全面转型 AI+》 2025-08-17 2. 《发布中报预告，上半年扣非净利润大 增》 2025-07-08 3. 《斩获北美 大单， 全年 成长可期》 2025-04-14 核心观点 盈利预测 | [币种Table_FinchinaSimple] (人民币) | 2023A | 2024A | ...

Core Insights - Huawei Cloud is focusing on AI cloud services, large models, embodied intelligence, and AI agents to drive industry innovation and success [1][2][3] Group 1: AI Cloud Services - Huawei Cloud has launched the CloudMatrix384 Ascend AI cloud service, which can scale from 384 cards to 8192 cards, enabling super-large clusters of 500,000 to 1,000,000 cards [2] - The CloudMatrix384 AI Token inference service has been introduced, achieving 3 to 4 times the inference performance of H20 per card [3] - The number of global customers using Huawei Cloud AI services has increased from 321 last year to 1,805 this year [3] Group 2: Infrastructure and Technology - Traditional data centers are being upgraded to support AI infrastructure, with power requirements increasing from 10 kW per cabinet to as much as 200 kW [2] - Huawei Cloud has deployed fully liquid-cooled AI data centers in Guizhou, Inner Mongolia, and Anhui, achieving a PUE as low as 1.1 [2] Group 3: Embodied Intelligence - The CloudRobo platform allows for the deployment of complex algorithms and intelligent logic in the cloud, enhancing the capabilities of robots [6] - CloudRobo's training data generation platform can automatically create diverse operational trajectories, significantly increasing data diversity and reducing data collection costs [6] Group 4: Collaboration and Partnerships - Huawei Cloud has established the R2C (Robot to Cloud) protocol to facilitate communication between robots and the cloud, with 20 initial partners confirmed [7] - The company emphasizes the importance of collaboration in digital transformation, providing a comprehensive support system for global customers [8][11] Group 5: Case Studies and Applications - Turkish fashion retailer Defacto successfully managed traffic surges during promotions using Huawei Cloud's container service, which can automatically scale to 4,000 Pods in 30 seconds [10] - Brazilian data intelligence company Neogrid improved data integration efficiency by 40% and data analysis efficiency by 50% using Huawei Cloud's data warehouse service [10] - Wanhu Chemical achieved a predictive maintenance model accuracy increase from 70% to 90% using Huawei Cloud's Pangu predictive model [10]

9月19日，在华为全联接大会2025上，华为常务董事、华为云计算CEO张平安表示，华为云推出Robot to Cloud协议（简称"R2C协议"），目前R2C协议的数据采集、数据生成、通讯接口三项国家标准已完成立 项，首批20家合作伙伴包括华龙讯达、非夕、亿嘉和、道和通泰等机构与企业，将围绕制造、物流、巡 检、康养等领域，共同开发云端一体化机器人解决方案。（第一财经记者 李娜） 目前R2C协议的数据采集、数据生成、通讯接口三项国家标准已完成立项。 ...