Shenzhen Click Technology Co., Ltd. (hereinafter referred to as "Click" or "the Company") intends to issue no more than 14,878.92 million A-shares to specific objects, raising no more than RMB 650 million (including the principal amount). The funds raised will be used for the AI computing power core magnetic component intelligent manufacturing project, the high-frequency transformer R&D project for solid-state transformers (SST), and supplementary working capital, among other purposes.
(Unless otherwise specified in this report, related terms have the same meaning as in the "Shenzhen Click Technology Co., Ltd. 2026 Annual Plan for Issuance of A-shares to Specific Objects (Revised Draft)")
I. Background and Purpose of the Issuance of Shares to Specific Objects
(I) Background of the Issuance of Shares to Specific Objects
- Accelerated construction of data centers drives rapid growth in the market for core magnetic components for computing power
In the context of the digital economy characterized by ubiquitous sensing, interconnectedness, and intelligence, the total volume of global data is experiencing rapid growth. According to IDC data, the global data generation volume is projected to reach 213.56ZB in 2025 and double to 527.47ZB by 2029. China's data generation volume is expected to grow from 51.78ZB to 136.12ZB during the same period, with a compound annual growth rate of 26.9%. The massive growth in data is driving a rapid increase in market demand for computing power. Concurrently, the diversification of intelligent scenarios requires diversified computing power. The rapid emergence of new applications and demands, such as AI-generated content (AIGC) and large model training, places higher demands on computing power. The large-scale deployment of data centers creates a rigid demand for high-efficiency power supply and distribution systems. Magnetic components, as critical devices for power system energy conversion, filtering, and voltage stabilization, directly determine the efficiency and reliability of data center power supply. The sustained release of market demand will spur demand for more high-power AI computing power supplies, further driving the synchronous growth of transformers, inductors, and other core magnetic components.
- Solid-state transformers are becoming a key direction for the next generation of power electronics technology revolution
Electricity is the fundamental energy source for the operation of modern society. Its transmission and conversion efficiency are directly related to the national economy. With the superposition of trends such as energy structure transformation, power grid architecture upgrades, and changes in terminal loads, the technical bottlenecks of traditional industrial frequency transformers in terms of size, efficiency, and power density are becoming increasingly prominent, making them unable to meet the urgent demand for intelligence, efficiency, and miniaturization in future power systems. Solid-state transformers (SSTs), as a type of power electronic device based on power electronics technology and high-frequency isolation transformers, are becoming a key technology for solving power supply pain points in fields such as AI data centers, ultra-fast charging, rail transit, and energy storage. In March 2026, the Ministry of Industry and Information Technology, the National Development and Reform Commission, the State-owned Assets Supervision and Administration Commission, and the National Energy Administration jointly issued the "Implementation Plan for High-Quality Development of Energy-Saving Equipment (2026-2028)," which explicitly lists large-capacity solid-state transformers as a key promotion item, making them a strategic energy-saving equipment for the country.