585 lines
36 KiB
HTML
585 lines
36 KiB
HTML
<!DOCTYPE html>
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<html lang="zh-CN" data-theme="night">
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<head>
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<meta charset="UTF-8">
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<meta name="viewport" content="width=device-width, initial-scale=1.0">
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<title>AI投研深度报告: 宝德计算机</title>
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<script src="https://cdn.jsdelivr.net/npm/alpinejs@3.x.x/dist/cdn.min.js" defer></script>
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<link href="https://cdn.jsdelivr.net/npm/daisyui@4.10.1/dist/full.min.css" rel="stylesheet" type="text/css" />
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<script src="https://cdn.tailwindcss.com"></script>
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<script src="https://cdn.jsdelivr.net/npm/echarts@5.5.0/dist/echarts.min.js"></script>
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<style>
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@import url('https://fonts.googleapis.com/css2?family=Poppins:wght@300;400;500;600;700&display=swap');
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body {
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font-family: 'Poppins', sans-serif;
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background-color: #0a0a1a;
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color: #e0e0e0;
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overflow-x: hidden;
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background-image:
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radial-gradient(circle at 15% 20%, rgba(100, 116, 225, 0.2) 0%, transparent 40%),
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radial-gradient(circle at 85% 70%, rgba(139, 92, 246, 0.2) 0%, transparent 40%),
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background-size: cover;
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background-attachment: fixed;
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background: rgba(28, 28, 48, 0.25);
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transition: all 0.3s ease;
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display: grid;
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gap: 1.5rem;
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grid-template-columns: repeat(12, 1fr);
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border-radius: 1.5rem;
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padding: 1.5rem;
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position: relative;
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background: radial-gradient(circle at var(--glow-x, 50%) var(--glow-y, 50%), rgba(167, 139, 250, 0.15) 0%, transparent 50%);
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opacity: 1;
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.section-title {
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font-size: 2.5rem;
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font-weight: 700;
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background: -webkit-linear-gradient(45deg, #a78bfa, #60a5fa);
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-webkit-background-clip: text;
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-webkit-text-fill-color: transparent;
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margin-bottom: 2rem;
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.tab {
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color: #fff;
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background-color: rgba(167, 139, 250, 0.2);
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border-bottom: 2px solid #a78bfa;
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}
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.collapse-title {
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font-size: 1.1rem;
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font-weight: 600;
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}
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.table th, .table td {
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border-bottom: 1px solid rgba(255, 255, 255, 0.1);
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}
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</style>
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</head>
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<body x-data>
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<div class="container mx-auto p-4 md:p-8">
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<!-- Header -->
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<header class="text-center mb-16">
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<h1 class="text-4xl md:text-6xl font-bold mb-4 bg-clip-text text-transparent bg-gradient-to-r from-purple-400 via-blue-400 to-cyan-400">
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AI投研深度报告: 宝德计算机
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</h1>
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<p class="text-lg text-gray-400 max-w-3xl mx-auto">
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信创巨擘 & AI算力新贵，在国产替代与算力爆发双重浪潮中的价值重估之路
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</p>
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</header>
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<!-- Main Bento Grid -->
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<main class="bento-grid" x-data="{ glowX: 0, glowY: 0 }" @mousemove="glowX = $event.clientX; glowY = $event.clientY">
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<!-- Core Concept Event -->
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<div class="bento-item glass-card col-span-12 lg:col-span-7 bento-item-glow" :style="`--glow-x: ${$el.getBoundingClientRect().left > 0 ? glowX - $el.getBoundingClientRect().left : 0}px; --glow-y: ${$el.getBoundingClientRect().top > 0 ? glowY - $el.getBoundingClientRect().top : 0}px`">
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<h2 class="text-2xl font-bold mb-4 text-purple-300">核心概念事件：慧博云通并购重组</h2>
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<p class="text-gray-300 mb-4">
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“宝德计算机”概念的核心驱动力是慧博云通(301316)对其进行的并购重组，旨在打造“软硬一体”的国产数字基础设施巨头。这一系列资本运作使宝德从“幕后”的硬件核心资产走向资本市场前台，其在信创和AI算力领域的价值面临全面重估。
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</p>
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<div class="space-y-3 text-sm">
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<p><strong class="text-cyan-300">▶ 2025/05/05:</strong> 慧博云通公告，筹划发行股份及支付现金购买宝德计算机控制权。</p>
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<p><strong class="text-cyan-300">▶ 2025/05/20:</strong> 复牌并披露第一阶段方案，拟收购宝德67.91%股份，构成重大资产重组。</p>
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<p><strong class="text-cyan-300">▶ 2025/09/14:</strong> 关键进展，慧博云通关联方及国资拟以现金收购剩余32.1%股权，扫清整体上市障碍。</p>
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</div>
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</div>
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<!-- Core Viewpoint -->
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<div class="bento-item glass-card col-span-12 lg:col-span-5 bento-item-glow" :style="`--glow-x: ${$el.getBoundingClientRect().left > 0 ? glowX - $el.getBoundingClientRect().left : 0}px; --glow-y: ${$el.getBoundingClientRect().top > 0 ? glowY - $el.getBoundingClientRect().top : 0}px`">
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<h2 class="text-2xl font-bold mb-4 text-purple-300">核心观点摘要</h2>
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<p class="text-gray-300">
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在“国产替代”与“AI算力爆发”两大时代背景下，一个此前未上市的服务器硬件核心资产，通过并购实现价值发现。其核心逻辑在于其在ARM服务器（信创）和华为昇腾AI服务器生态中的领军地位。概念正由事件驱动向基本面验证过渡，未来潜力取决于“软硬一体”战略的落地效果。
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</p>
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</div>
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<!-- Key Metrics -->
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<div class="bento-item glass-card col-span-12 sm:col-span-6 md:col-span-4 bento-item-glow" :style="`--glow-x: ${$el.getBoundingClientRect().left > 0 ? glowX - $el.getBoundingClientRect().left : 0}px; --glow-y: ${$el.getBoundingClientRect().top > 0 ? glowY - $el.getBoundingClientRect().top : 0}px`">
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<h3 class="font-semibold text-lg mb-2 text-blue-300">财务速览 (2024年)</h3>
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<p class="text-4xl font-bold text-white">100亿</p>
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<p class="text-gray-400 mb-4">营业收入</p>
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<p class="text-4xl font-bold text-white">2.35亿</p>
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<p class="text-gray-400">归母净利</p>
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</div>
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<!-- Core Drivers -->
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<div class="bento-item glass-card col-span-12 sm:col-span-6 md:col-span-4 bento-item-glow" :style="`--glow-x: ${$el.getBoundingClientRect().left > 0 ? glowX - $el.getBoundingClientRect().left : 0}px; --glow-y: ${$el.getBoundingClientRect().top > 0 ? glowY - $el.getBoundingClientRect().top : 0}px`">
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<h3 class="font-semibold text-lg mb-3 text-blue-300">双核驱动力</h3>
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<div class="space-y-3">
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<div class="flex items-center gap-3">
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<div class="bg-purple-500/20 p-2 rounded-full"><svg xmlns="http://www.w3.org/2000/svg" class="h-6 w-6 text-purple-300" fill="none" viewBox="0 0 24 24" stroke="currentColor"><path stroke-linecap="round" stroke-linejoin="round" stroke-width="2" d="M9 3v2m6-2v2M9 19v2m6-2v2M5 9H3m2 6H3m18-6h-2m2 6h-2M12 6V3m0 18v-3" /></svg></div>
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<div>
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<p class="font-semibold">AI算力爆发</p>
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<p class="text-xs text-gray-400">大模型驱动算力需求井喷</p>
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</div>
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</div>
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<div class="flex items-center gap-3">
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<div class="bg-cyan-500/20 p-2 rounded-full"><svg xmlns="http://www.w3.org/2000/svg" class="h-6 w-6 text-cyan-300" fill="none" viewBox="0 0 24 24" stroke="currentColor"><path stroke-linecap="round" stroke-linejoin="round" stroke-width="2" d="M9 12l2 2 4-4m5.618-4.016A11.955 11.955 0 0112 2.944a11.955 11.955 0 01-8.618 3.04A12.02 12.02 0 003 9c0 5.591 3.824 10.29 9 11.622 5.176-1.332 9-6.03 9-11.622 0-1.042-.133-2.052-.382-3.016z" /></svg></div>
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<div>
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<p class="font-semibold">国产替代 (信创)</p>
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<p class="text-xs text-gray-400">国家信息技术创新战略确定性需求</p>
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</div>
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</div>
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</div>
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</div>
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<!-- Order Wins -->
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<div class="bento-item glass-card col-span-12 md:col-span-4 bento-item-glow" :style="`--glow-x: ${$el.getBoundingClientRect().left > 0 ? glowX - $el.getBoundingClientRect().left : 0}px; --glow-y: ${$el.getBoundingClientRect().top > 0 ? glowY - $el.getBoundingClientRect().top : 0}px`">
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<h3 class="font-semibold text-lg mb-2 text-blue-300">重大订单斩获 (2024H1)</h3>
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<p class="text-gray-300">连续中标三大运营商昇腾服务器大单，总额超</p>
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<p class="text-6xl font-bold my-2 bg-clip-text text-transparent bg-gradient-to-r from-purple-400 to-blue-400">50亿+</p>
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<p class="text-sm text-gray-400">印证其AI服务器业务高景气度，市场竞争力强劲。</p>
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</div>
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</main>
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<!-- Data Visualization -->
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<section class="my-20">
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<h2 class="section-title text-center">关键数据透视</h2>
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<div class="grid grid-cols-1 lg:grid-cols-2 gap-8">
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<div class="glass-card rounded-3xl p-6 h-[400px]" id="financials-chart"></div>
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<div class="glass-card rounded-3xl p-6 h-[400px]" id="market-position-chart"></div>
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</div>
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</section>
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<!-- Deep Dive Analysis -->
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<section class="my-20" x-data="{ tab: 'logic' }">
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<h2 class="section-title text-center">深度逻辑剖析</h2>
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<div class="tabs tabs-boxed justify-center mb-8 bg-transparent">
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<a class="tab tab-lg" :class="{ 'tab-active': tab === 'logic' }" @click.prevent="tab = 'logic'">核心逻辑</a>
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<a class="tab tab-lg" :class="{ 'tab-active': tab === 'gap' }" @click.prevent="tab = 'gap'">市场热度与预期差</a>
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<a class="tab tab-lg" :class="{ 'tab-active': tab === 'catalyst' }" @click.prevent="tab = 'catalyst'">关键催化剂</a>
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</div>
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<div class="glass-card rounded-3xl p-8 min-h-[400px]">
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<!-- Tab 1: Logic -->
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<div x-show="tab === 'logic'" x-transition>
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<h3 class="text-2xl font-bold mb-4 text-purple-300">三大核心驱动力</h3>
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<ul class="space-y-4">
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<li>
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<h4 class="font-semibold text-lg text-cyan-300">1. 国产替代的确定性需求</h4>
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<p class="text-gray-300 ml-4">作为“信创整机市场领导者”和“中国ARM服务器市场No.1”，深度与华为(鲲鹏)、飞腾、龙芯等合作，在政府、金融、电信等关键领域采购中占据先发优势，构成其业务基本盘和护城河。</p>
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</li>
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<li>
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<h4 class="font-semibold text-lg text-cyan-300">2. AI算力爆发的增量需求</h4>
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<p class="text-gray-300 ml-4">身为“中国AI服务器TOP 3”及华为昇腾AI服务器排名前三的重要伙伴，直接受益于大模型算力井喷。2024H1超50亿的运营商大单是其AI业务高景气度的直接体现。</p>
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</li>
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<li>
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<h4 class="font-semibold text-lg text-cyan-300">3. “软硬一体化”的战略叙事</h4>
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<p class="text-gray-300 ml-4">慧博云通的收购，为宝德叠加了从硬件提供商向“算力+算法+场景应用”全栈解决方案提供商转型的想象空间，旨在构建全栈闭环生态，提升其业务天花板和估值逻辑。</p>
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</li>
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</ul>
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</div>
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<!-- Tab 2: Expectation Gap -->
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<div x-show="tab === 'gap'" x-transition style="display: none;">
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<h3 class="text-2xl font-bold mb-4 text-purple-300">显著预期差：产业地位与机构视野的错位</h3>
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<div class="prose max-w-none text-gray-300">
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<p>当前概念存在显著的预期差，核心体现在市场认知与机构关注度的错位。</p>
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<ul>
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<li><strong>产业端地位显赫：</strong>新闻和研报反复强调宝德“中国ARM服务器市场No.1”、“中国AI服务器TOP 3”的领军地位，市场亦有“小华为”之称。</li>
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<li><strong>资本端近乎“隐形”：</strong>然而，在多份路演纪要中，机构投资者和分析师在讨论AI算力核心标的时，重点关注的是<span class="text-yellow-300">浪潮信息、中科曙光</span>，对宝德计算机则<span class="text-red-400 font-bold">只字未提</span>。</li>
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<li><strong>原因与机遇：</strong>这种认知错位可能源于其长期为非上市公司，缺乏持续的业绩披露和机构沟通。随着并购推进，其真实的产业价值有望被资本市场快速“再发现”，这种认知差的填补过程本身就蕴含着巨大潜力。</li>
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<li><strong>其他预期差：</strong>
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<ul class="list-disc pl-5">
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<li><strong>“小华为”标签：</strong>虽是头部伙伴，但在昇腾/鲲鹏生态中并非唯一龙头，仍面临超聚变等强劲对手竞争。</li>
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<li><strong>软硬一体化：</strong>“软硬一体”故事动听，但慧博云通与宝德的协同效应能否实现1+1>2，尚需时间和案例验证。</li>
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</ul>
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</li>
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</ul>
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</div>
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</div>
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<!-- Tab 3: Catalyst -->
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<div x-show="tab === 'catalyst'" x-transition style="display: none;">
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<div class="grid grid-cols-1 md:grid-cols-2 gap-8">
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<div>
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<h3 class="text-2xl font-bold mb-4 text-purple-300">近期催化剂 (3-6个月)</h3>
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<ul class="list-disc list-inside space-y-3 text-gray-300">
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<li><strong class="text-white">并购重组顺利过会：</strong>确定性最高的催化剂，每个节点的通过都将强化市场信心。</li>
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<li><strong class="text-white">新的大规模算力订单：</strong>持续斩获大单，是对其市场竞争力的最有力证明。</li>
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<li><strong class="text-white">首个“软硬一体”标杆项目落地：</strong>使“软硬一体”的逻辑从故事变为现实。</li>
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</ul>
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</div>
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<div>
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<h3 class="text-2xl font-bold mb-4 text-purple-300">长期发展路径</h3>
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<ul class="list-disc list-inside space-y-3 text-gray-300">
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<li><strong class="text-white">硬件层 (巩固)：</strong>深化与国产芯片合作，提升液冷服务器等高附加值产品份额。</li>
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<li><strong class="text-white">平台层 (构建)：</strong>融合软件能力，从卖“盒子”转向卖“平台”和“服务”。</li>
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<li><strong class="text-white">生态层 (拓展)：</strong>深度参与“国家超算互联网”等国家级算力生态建设。</li>
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<li><strong class="text-white">前沿布局：</strong>布局“机密计算”等前沿数据安全技术，构建差异化竞争优势。</li>
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</ul>
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</div>
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</div>
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</div>
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</div>
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</section>
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<!-- Ecosystem -->
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<section class="my-20">
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<h2 class="section-title text-center">产业链图谱与核心玩家</h2>
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<div class="bento-grid">
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<div class="bento-item glass-card col-span-12 md:col-span-4">
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<h3 class="text-xl font-bold text-cyan-300 mb-3">上游：核心零部件/软件</h3>
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<ul class="space-y-2 text-sm">
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<li><strong>芯片:</strong> 华为 (鲲鹏/昇腾), 飞腾, 龙芯</li>
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<li><strong>PCB:</strong> 崇达技术</li>
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<li><strong>散热:</strong> 飞荣达 (网传)</li>
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<li><strong>服务:</strong> 银信科技</li>
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</ul>
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</div>
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<div class="bento-item glass-card col-span-12 md:col-span-4 border-2 border-purple-400 shadow-lg shadow-purple-500/20">
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<h3 class="text-xl font-bold text-purple-300 mb-3">中游：整机制造与解决方案</h3>
|
||
<ul class="space-y-2 text-sm">
|
||
<li><strong>核心主体:</strong> 宝德计算机</li>
|
||
<li><strong>并购方/软件伙伴:</strong> 慧博云通</li>
|
||
<li><strong>合资公司:</strong> 与协创数据, 达实智能等成立合资公司</li>
|
||
</ul>
|
||
</div>
|
||
<div class="bento-item glass-card col-span-12 md:col-span-4">
|
||
<h3 class="text-xl font-bold text-blue-300 mb-3">下游：分销与应用</h3>
|
||
<ul class="space-y-2 text-sm">
|
||
<li><strong>代理/分销:</strong> 天源迪科, 南天信息</li>
|
||
<li><strong>终端客户:</strong> 中国移动, 中国联通, 中国电信等运营商及政府, 金融行业客户</li>
|
||
</ul>
|
||
</div>
|
||
<div class="bento-item glass-card col-span-12">
|
||
<h3 class="text-xl font-bold text-purple-300 mb-3">核心玩家对比</h3>
|
||
<div class="text-sm grid grid-cols-1 md:grid-cols-2 lg:grid-cols-4 gap-4">
|
||
<div>
|
||
<h4 class="font-semibold text-white">宝德计算机</h4>
|
||
<p class="text-gray-400">逻辑最纯粹的核心资产，优势在于市场地位和客户基础，风险在于竞争与整合不确定性。</p>
|
||
</div>
|
||
<div>
|
||
<h4 class="font-semibold text-white">慧博云通</h4>
|
||
<p class="text-gray-400">转型的实施者，“蛇吞象”式并购，逻辑成败系于对宝德的成功整合。</p>
|
||
</div>
|
||
<div>
|
||
<h4 class="font-semibold text-white">中青宝</h4>
|
||
<p class="text-gray-400">最具想象空间的“影子股”，基于“同门关系”的资产重组预期，投机性强，风险极高。</p>
|
||
</div>
|
||
<div>
|
||
<h4 class="font-semibold text-white">崇达技术/飞荣达</h4>
|
||
<p class="text-gray-400">业绩驱动的“卖铲人”，逻辑清晰，风险相对较低，但弹性也不及核心公司。</p>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
</section>
|
||
|
||
<!-- Supporting Evidence -->
|
||
<section class="my-20">
|
||
<h2 class="section-title text-center">多维信息交叉验证</h2>
|
||
<div class="space-y-4">
|
||
<div class="collapse collapse-plus glass-card rounded-2xl">
|
||
<input type="radio" name="evidence-accordion" checked="checked" />
|
||
<div class="collapse-title text-xl font-medium text-cyan-300">新闻摘要</div>
|
||
<div class="collapse-content">
|
||
<ul class="list-disc pl-5 space-y-2 text-gray-300">
|
||
<li><strong>核心事件：</strong>慧博云通拟分两阶段收购宝德计算机，打造“软硬结合，国产数字底座新贵”，被市场誉为“重现高新发展行情”。</li>
|
||
<li><strong>公司定位：</strong>中国领先的计算产品方案提供商，信创服务器领军者，市场人称“小华为”。</li>
|
||
<li><strong>市场地位：</strong>中国ARM服务器No.1, 中国AI服务器TOP 3, 中国服务器市场国内品牌TOP 5。鲲鹏、昇腾服务器整机出货量NO.1。</li>
|
||
<li><strong>财务状况：</strong>2024年收入预计100亿，归母净利2.35亿。</li>
|
||
<li><strong>合作伙伴：</strong>与华为、飞腾、龙芯等深度合作，是华为昇腾AI服务器领域排名前三的重要合作伙伴。</li>
|
||
</ul>
|
||
</div>
|
||
</div>
|
||
<div class="collapse collapse-plus glass-card rounded-2xl">
|
||
<input type="radio" name="evidence-accordion" />
|
||
<div class="collapse-title text-xl font-medium text-purple-300">研报洞察</div>
|
||
<div class="collapse-content">
|
||
<ul class="list-disc pl-5 space-y-2 text-gray-300">
|
||
<li><strong>国家级生态参与者：</strong>宝德是“国家超算互联网联合体”首批发起成员单位，并参与《超算互联网白皮书》编写，深度融入国家算力战略。</li>
|
||
<li><strong>行业影响力：</strong>作为《云灾备建设指南》的支持单位，体现其在云生态中的行业影响力。</li>
|
||
<li><strong>技术前瞻性：</strong>研报指出，公司可整合KubeVirt、Kata Container等云原生虚拟化技术，打造边缘云原生解决方案；同时，“机密计算”是其在数据安全领域的重要潜在方向。</li>
|
||
<li><strong>AI业务验证：</strong>研报详细记录了其在中国电信、中国移动的AI算力服务器集采中屡获大单，印证其AI业务的强劲势头。</li>
|
||
</ul>
|
||
</div>
|
||
</div>
|
||
<div class="collapse collapse-plus glass-card rounded-2xl">
|
||
<input type="radio" name="evidence-accordion" />
|
||
<div class="collapse-title text-xl font-medium text-yellow-300">路演分析 (预期差关键)</div>
|
||
<div class="collapse-content">
|
||
<p class="text-gray-300">对多份路演纪要的分析显示，一个关键现象浮出水面：</p>
|
||
<p class="mt-2 p-4 bg-yellow-400/10 border-l-4 border-yellow-400 rounded-lg text-yellow-200">
|
||
<strong>核心发现：</strong>在所有提供的路演内容中，均未直接提及“宝德计算机”。机构在讨论AI算力及服务器核心标的时，频繁提及浪潮信息、中科曙光等，但对宝德保持了“沉默”。
|
||
</p>
|
||
<p class="mt-4 text-gray-300">
|
||
<strong>潜在解读：</strong>这构成了产业地位与机构认知之间的巨大鸿沟。虽然路演纪要中关于国产算力崛起、华为昇腾生态完善等宏观分析，均对宝德构成间接利好，但其本身在机构视野中的“缺位”，恰恰是本次并购事件带来价值重估的最大看点和预期差所在。
|
||
</p>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
</section>
|
||
|
||
<!-- Risks & Conclusion -->
|
||
<section class="my-20 grid grid-cols-1 lg:grid-cols-2 gap-8">
|
||
<div class="glass-card rounded-3xl p-8">
|
||
<h3 class="text-2xl font-bold mb-4 text-red-400">潜在风险与挑战</h3>
|
||
<ul class="list-disc list-inside space-y-3 text-gray-300">
|
||
<li><strong>技术风险:</strong> 算力行业技术迭代迅速，需持续高强度研发投入。</li>
|
||
<li><strong>商业化风险:</strong> “软硬一体化”协同效应能否实现是最大不确定性。服务器硬件行业利润率偏低(约2.35%)，提升盈利能力是巨大挑战。</li>
|
||
<li><strong>政策与竞争风险:</strong> 业务高度依赖信创政策和运营商集采，同时面临浪潮信息、中科曙光等强大对手的激烈竞争。</li>
|
||
<li><strong>信息交叉验证风险:</strong> 产业地位(新闻/研报)与机构关注度(路演)之间存在巨大鸿沟，是当前最大的信息矛盾点。</li>
|
||
</ul>
|
||
</div>
|
||
<div class="glass-card rounded-3xl p-8">
|
||
<h3 class="text-2xl font-bold mb-4 text-green-400">综合结论与投资启示</h3>
|
||
<p class="text-gray-300 mb-4">
|
||
“宝德计算机”概念正处在从“事件驱动”向“基本面驱动”转型的关键临界点。其坚实的产业地位和明确的行业赛道是价值基础，并购是价值发现的催化剂。
|
||
</p>
|
||
<h4 class="font-semibold text-lg text-white mb-2">最具投资价值环节：</h4>
|
||
<p class="text-gray-300 mb-4">核心在于“软硬一体”的落地，特别是面向华为昇腾/鲲鹏生态的全栈解决方案，具备更高客户粘性和利润空间。</p>
|
||
<h4 class="font-semibold text-lg text-white mb-2">需重点跟踪验证指标：</h4>
|
||
<ul class="list-disc list-inside space-y-1 text-gray-300 text-sm">
|
||
<li>并购整合进度 (监管审批)</li>
|
||
<li>新增订单质量 (是否为“软硬一体”合同)</li>
|
||
<li>合并后财务报表的利润率变化</li>
|
||
<li>华为生态系统内的市场份额变化</li>
|
||
</ul>
|
||
</div>
|
||
</section>
|
||
|
||
<!-- Related Stocks Table -->
|
||
<section class="my-20">
|
||
<h2 class="section-title text-center">概念关联标的</h2>
|
||
<div class="overflow-x-auto glass-card rounded-3xl p-4">
|
||
<table class="table w-full">
|
||
<thead>
|
||
<tr class="text-white">
|
||
<th>股票名称</th>
|
||
<th>股票代码</th>
|
||
<th>关联原因</th>
|
||
<th>资料来源</th>
|
||
</tr>
|
||
</thead>
|
||
<tbody>
|
||
<tr class="hover:bg-white/5">
|
||
<td class="font-bold text-purple-300">慧博云通</td>
|
||
<td><a href="https://valuefrontier.cn/company?scode=301316" target="_blank" class="link link-hover">301316</a></td>
|
||
<td>公司拟收购宝德计算机，为本次事件的核心实施方。</td>
|
||
<td>韭研公社搜公告</td>
|
||
</tr>
|
||
<tr class="hover:bg-white/5">
|
||
<td class="font-bold text-purple-300">中青宝</td>
|
||
<td>ST中青宝</td>
|
||
<td>与宝德计算机为同一实际控制人，市场存在资产注入预期。</td>
|
||
<td>韭研公社搜互动</td>
|
||
</tr>
|
||
<tr class="hover:bg-white/5">
|
||
<td class="font-bold">崇达技术</td>
|
||
<td><a href="https://valuefrontier.cn/company?scode=002815" target="_blank" class="link link-hover">002815</a></td>
|
||
<td>公司主营PCB业务，是宝德计算机的服务器客户。</td>
|
||
<td>韭研公社搜公告</td>
|
||
</tr>
|
||
<tr class="hover:bg-white/5">
|
||
<td class="font-bold">协创数据</td>
|
||
<td><a href="https://valuefrontier.cn/company?scode=300857" target="_blank" class="link link-hover">300857</a></td>
|
||
<td>与宝德计算机合资成立智能计算系统公司（协创持股55%，宝德持股45%）。</td>
|
||
<td>韭研公社搜公告</td>
|
||
</tr>
|
||
<tr class="hover:bg-white/5">
|
||
<td class="font-bold">达实智能</td>
|
||
<td><a href="https://valuefrontier.cn/company?scode=002421" target="_blank" class="link link-hover">002421</a></td>
|
||
<td>参股公司福米科技与宝德计算机共同持股星汉智能。</td>
|
||
<td>网络公开资料</td>
|
||
</tr>
|
||
<tr class="hover:bg-white/5">
|
||
<td class="font-bold">南天信息</td>
|
||
<td><a href="https://valuefrontier.cn/company?scode=000948" target="_blank" class="link link-hover">000948</a></td>
|
||
<td>控股子公司星链南天代理的服务器品牌包括宝德。</td>
|
||
<td>韭研公社搜互动</td>
|
||
</tr>
|
||
<tr class="hover:bg-white/5">
|
||
<td class="font-bold">银信科技</td>
|
||
<td><a href="https://valuefrontier.cn/company?scode=300231" target="_blank" class="link link-hover">300231</a></td>
|
||
<td>公司官网客户展示中包括宝德计算机。</td>
|
||
<td>公司官网</td>
|
||
</tr>
|
||
<tr class="hover:bg-white/5">
|
||
<td class="font-bold">飞荣达</td>
|
||
<td><a href="https://valuefrontier.cn/company?scode=300602" target="_blank" class="link link-hover">300602</a></td>
|
||
<td>公司服务器客户包括宝德；网传为宝德ARM服务器提供高性能散热模组。</td>
|
||
<td>韭研公社搜互动, 网传</td>
|
||
</tr>
|
||
<tr class="hover:bg-white/5">
|
||
<td class="font-bold">天源迪科</td>
|
||
<td><a href="https://valuefrontier.cn/company?scode=300047" target="_blank" class="link link-hover">300047</a></td>
|
||
<td>网传子公司金华威为宝德“自强系列”服务器总代理。</td>
|
||
<td>网传</td>
|
||
</tr>
|
||
</tbody>
|
||
</table>
|
||
</div>
|
||
</section>
|
||
|
||
<!-- Footer -->
|
||
<footer class="text-center text-sm text-gray-500 mt-16 py-8 border-t border-gray-500/20">
|
||
<p>北京价值前沿科技有限公司 AI投研agent：“价小前投研” 进行投研呈现</p>
|
||
<p>本报告由AI基于公开信息合成，不构成任何投资建议，投资有风险，决策需谨慎。</p>
|
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