Group 1 - The core viewpoint of the report is that Tongwei Co., Ltd. is rated as "Buy" due to its strong position in the power supply industry, particularly in the UPS power supply business for computing centers and data centers, which contributes significantly to its profits [1] - The industry outlook indicates that the demand for UPS batteries is expected to grow significantly driven by AIDC, and there is a broad long-term application space for hydrogen energy in data centers [1] - The company has a diversified approach in the computing center and data center UPS power supply market, with a multi-line layout including lithium batteries, lead-acid batteries, and hydrogen energy [1]

Core Viewpoint - The report from Tianfeng Securities highlights that Xiongtao Co., Ltd. is a veteran in the power supply industry, with its computing center and data center UPS power supply business contributing significantly to its profits. [1] Revenue Contribution - In the first half of 2025, revenue from the computing center and data center UPS power supply business is expected to account for 47% of the company's total revenue, contributing 75% of its profits. [1] Market Trends - The demand for AI computing power is rapidly increasing, leading data centers to evolve towards large-scale, high-density, and high-power configurations. [1] Product Advantages - Lithium battery products offer advantages such as long lifespan, high energy density, and environmental benefits. Compared to lead-acid batteries, lithium batteries have a significant cost advantage over their entire lifecycle, potentially saving over 40% in total ownership costs within 10 years. [1] Strategic Positioning - The company is deeply engaged in the UPS business for computing centers and data centers, with a diversified product line including lithium, lead-acid, and hydrogen energy solutions. [1] Investment Outlook - Given the company's strong positioning in the UPS business, it is expected to benefit from investments in AI data centers, leading to an initial coverage rating of "Buy." [1]

Group 1: Company Overview - Shenzhen Keda Technology Co., Ltd. has a balanced business model with domestic and overseas data center operations each accounting for 50% of its business [2] - The company is actively expanding its global presence, particularly in North America, Europe, and Southeast Asia [2] Group 2: Market Development - The AI technology boom is driving a global surge in data center infrastructure, presenting significant growth opportunities in both domestic and international markets [2] - Southeast Asia is identified as a key export market, with ongoing projects like the national-level AI data center in Malaysia [3] Group 3: Production Capacity - The company currently has sufficient production capacity and a well-reserved industrial park, allowing for flexible adjustments in production lines [3] - The production cycle for new lines is short, enabling quick responses to market demands [3] Group 4: Financial Performance - Recent reports indicate a fluctuation in gross profit margins due to product pricing, raw material costs, and market competition, but the data center segment remains relatively stable [3] - The renewable energy segment is expected to recover profitability as storage and related businesses improve [3] Group 5: Investor Relations - The company adheres to strict information disclosure regulations, ensuring transparency and fairness in communications with investors [3]

Group 1 - The company, Keda (002518.SZ), provides UPS power supply products necessary for data center infrastructure construction for clients such as Alibaba [1]

Core Insights - The company reported a 1.44% year-on-year increase in revenue for the first half of 2025, reaching 1.606 billion yuan [2] - The net profit attributable to shareholders grew by 25.42% year-on-year to 90.077 million yuan, while the net profit after deducting non-recurring items decreased by 3.85% to 69.7128 million yuan [2] Company Performance - The company's revenue for the first half of 2025 was 1.606 billion yuan, reflecting a modest growth compared to the previous year [2] - The net profit attributable to shareholders showed significant growth, indicating strong operational performance [2] - The decline in net profit after deducting non-recurring items suggests potential challenges in maintaining profitability from core operations [2] Industry Context - The company is benefiting from the global trend of industries embracing AI, leading to the rapid development of computing centers and data centers [2] - The company holds a competitive advantage in research and technology for UPS power supplies in computing and data centers, supported by strong customer relationships [2] - The battery business related to computing and data centers has become a major growth driver for the company's profits and is expected to continue its rapid growth in the future [2]

Group 1 - The core viewpoint of the news highlights the recent stock performance of Keda Technology, with a 5.44% increase in share price, reaching 35.85 CNY per share, and a total market capitalization of 20.873 billion CNY [1] - Keda Technology specializes in the research and manufacturing of UPS power supplies, air conditioning, micro-modules, batteries, photovoltaics, energy storage, and electric vehicle charging piles, providing smart energy solutions since its establishment in 1993 [1] - The company was successfully listed in 2010 and is committed to leading technological innovation and sustainable development in the industry [1] Group 2 - As of July 31, Keda Technology had 68,000 shareholders, with an average of 8,311 circulating shares per shareholder [2] - For the first quarter of 2025, Keda Technology reported a revenue of 943 million CNY, representing a year-on-year growth of 13.51%, while the net profit attributable to shareholders decreased by 10.44% to 111 million CNY [2]

Event Overview - The Guangdong Province Live Job Recruitment Event will take place from July to December 2025, featuring 40 online job fairs [2] - The event is guided by the China Small and Medium Enterprises Development Promotion Center and co-hosted by various provincial departments and organizations [2] Live Broadcast Information - The first live broadcast will occur on July 28, 2025, from 10:00 to 12:00, focusing on Dongguan [4] - The live broadcast will be held at the Guangdong Province Veterans Employment and Entrepreneurship Service Promotion Association [4] Participating Companies - **Yishite Power System Technology Co., Ltd.**: Founded in 1989, listed in 2014, recognized as a key high-tech enterprise and has been included in various global rankings, including the Global New Energy Enterprises Top 500 [6][7] - **Guangdong Aoxin Technology Co., Ltd.**: Certified as a national high-tech enterprise, specializes in temperature control equipment manufacturing [6] - **Shenzhen Top Weighing Equipment Co., Ltd.**: Established in 2007, focuses on electronic weighing equipment manufacturing and adheres to international standards [8] - **Dongguan Meixing Automobile Co., Ltd.**: A limited liability company invested by Hong Kong, Macau, and Taiwan, known for its luxury electric off-road vehicles [9] - **Bingge Supply Chain Service Co., Ltd.**: Aims to support veterans' employment and entrepreneurship, with a comprehensive service model and multiple operational bases in Dongguan [10] Job Opportunities - **Yishite Power System Technology Co., Ltd.**: Positions available include After-sales Engineer, Sales Manager, Forklift Driver, Welding Technician, and Debugging Technician [6] - **Guangdong Aoxin Technology Co., Ltd.**: Hiring for Market Manager, Marketing Promotion Manager, Sales Personnel, and E-commerce Customer Service Specialist [6] - **Shenzhen Top Weighing Equipment Co., Ltd.**: Open positions include Business Assistant, Network Administrator, and After-sales Service [8] - **Dongguan Meixing Automobile Co., Ltd.**: Positions available include Administrative General Affairs and Sales Consultant [9] - **Bingge Supply Chain Service Co., Ltd.**: Hiring for positions such as Assistant to the Chairman, Market Department Investment Responsible Person, and Online Operations Supervisor [10]

文 | 爱维达 当工商业储能赛道涌入2000＋玩家时，一家深耕UPS电源27年的"隐形冠军"选择了与众不同的路 径。爱维达，这个服务过北京奥运会、冬奥会的电源保障专家，正将其在极端环境设备可靠性领 域的电力电子技术积淀，转化为储能红海中的差异化竞争力。 技术基因的传承与裂变 爱 维达27年的发展轨迹始终围绕"电能可靠性"展开，从通信基站到智算中心，从金砖会议到上合 峰会，其技术基因在储能领域得以延续和进化。 在这二十余载的技术沉淀中，电力电子技术的同源性成为了爱维达从UPS转向储能的核心逻辑。 无论是UPS的AC-DC/DC-AC转换，还是储能PCS的AC-DC-AC双向变换，核心都是电力电子器 件的拓扑设计与控制算法。爱维达1998年为2G基站研发的第一代在线式UPS，已经具备较高的电 压精度和切换能力，这种对电能质量的极致追求，正是储能系统参与电网调频的技术基础。凭借 这一坚实的技术基础，爱维达在储能领域的发展有了更为明确的方向和优势。 尽管储能场景的复杂度远超UPS，但爱维达凭借其在电力电子领域的深厚技术沉淀，成功突破了 技术壁垒。例如，冬奥会户外电源项目要求设备在-40℃环境下稳定运行，爱维达将相关技 ...

Group 1: Port Industry Insights - The port industry valuation has increased due to sentiment catalysts and re-evaluation factors, particularly after the sale of terminal assets by Cheung Kong, which achieved an EV/EBITDA of 11 times, while the industry average is between 6-8 times, indicating significant re-evaluation potential [1] - Xiamen Port Development, as the only listed platform under Fujian Port Group, leverages the strategic location of Xiamen Port (the 14th largest container port globally) to establish three core businesses: bulk cargo terminals, port logistics, and port services [1] - The company plans to expand into the container terminal sector through a major asset restructuring by 2025, enhancing its position as a comprehensive modern port logistics service provider [1] - With the gradual recovery of global trade and the ongoing Belt and Road Initiative, Xiamen Port's container throughput and domestic logistics demand are expected to continue growing [1] - Xiamen Port Development is well-positioned for long-term growth due to strong port resources, policy support, and market competitiveness, especially in the context of the overall re-evaluation of the port industry [1] - Investors are encouraged to pay attention to companies like COSCO Shipping Ports and China Merchants Port, particularly COSCO Shipping Ports, which benefits from being part of the world's largest container shipping alliance [1] Group 2: AI and Data Center Infrastructure - The demand for data center infrastructure (AIDC) is entering a new cycle as global internet giants, particularly Alibaba, ByteDance, and Tencent, increase their investments in AI capabilities [4] - North America's four major cloud service providers are expected to exceed $315 billion in capital expenditures by 2025, driven by AI-related demand, leading to significant expansion in the data center industry [4] - The demand for key IT power supplies in data centers is projected to double from 49 GW in 2023 to 96 GW by 2026, with 90% of this growth attributed to AI-related needs [4] - The global market for temperature control in data centers is expected to grow from approximately $7.7 billion in 2023 to $17.8 billion by 2028, with a CAGR of about 18.4% [4] - Liquid cooling technology is becoming increasingly important in data centers, with its market share expected to rise to 33% due to the trend of increasing server cabinet power [4] - Domestic brands are likely to replace foreign brands in the backup power supply segment within data centers, especially under tight supply-demand conditions [4] Group 3: Emerging Technologies and Market Trends - Deep-sea technology has been officially included in the national future industry development priorities in the 2025 government work report, indicating the rise of this emerging industry and gaining national policy support [10] - The deep-sea technology sector has significant industrial potential, aligning with national strategic needs and offering broad market prospects, potentially becoming a new growth area for the economy [10] - The industry requires the integration of various technologies, including oceanography, artificial intelligence, and bioengineering, to advance technologies such as bionic robots and deep-sea sensors [10] - The marine economy is expected to grow robustly, with China's marine economy projected to exceed 10 trillion yuan in total by 2024 [10] - AI technology can enhance sustainable development by using intelligent sensor networks and big data analysis to assess fishery resources and formulate protection strategies [10]