Investment Rating - The report indicates a positive outlook for the industry, suggesting a focus on high elasticity varieties and potential growth in specialized sectors [1][3]. Core Insights - The North Exchange A-shares saw a trading volume of 37.77 billion yuan on September 2, 2025, an increase of 9.73 billion yuan from the previous trading day, with the North Exchange 50 Index closing at 1574.88, up 0.40% [1][8]. - The specialized and innovative index closed at 2737.44, reflecting a 0.26% increase, indicating resilience in the market despite broader economic challenges [1][8]. - A total of 196 out of 274 companies listed on the North Exchange experienced price increases, highlighting a positive market sentiment [1][14]. Summary by Sections Market Review - The North Exchange A-shares trading volume reached 37.77 billion yuan, marking a significant increase of 9.73 billion yuan from the previous day [1][8]. - The North Exchange 50 Index recorded a closing price of 1574.88, with a PE_TTM of 77.14 times, while the specialized and innovative index closed at 2737.44 [1][8]. Stock Performance - Among the 274 companies, 196 saw their stock prices rise, with the top gainers being Hengjin Induction (30.0%), Hongyu Packaging (30.0%), and Shunyu Precision (21.1%) [1][14][16]. - Conversely, the top decliners included Gebijia (-7.6%) and Lierda (-4.9%), indicating a mixed performance across the board [1][14][15]. Important News - Mitsubishi Heavy Industries plans to double its gas turbine production capacity within two years due to rising global demand driven by equipment replacement cycles and data center construction [2][17]. - The new power system industry is entering a golden development period, with companies like CATL and Envision Technology actively positioning themselves despite existing challenges [2][18]. Company Announcements - Huiwei Intelligent announced the use of 33.55 million yuan of idle funds for cash management, with an unexpired balance of 90.22 million yuan, representing 36.17% of its net assets for 2024 [2][19]. - Forward Technology reported the purchase of structured deposit products with 15 million yuan of idle funds, expecting an annualized return of 0.70% to 1.25% [2][20]. - Hongyu Packaging triggered an abnormal trading fluctuation due to a cumulative price deviation of 68.93% over two trading days [2][21].

证券代码：831961 证券简称：创远信科 公告编号：2025-095 （二） 审批情况 创远信科（上海）技术股份有限公司 签订战略意向合作协议的公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记 载、误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担个 别及连带法律责任。 战略意向合作协议为框架性协议，不涉及实质性交易，不涉及 关联交易，亦不构成《上市公司重大资产重组管理办法》规定的重 大资产重组，根据《北京证券交易所股票上市规则》《公司章程》等 相关规定，上述协议签订事项无需提交公司董事会或股东会审议。 公司将根据相关法律法规的有关规定，及时履行相应的决策程序和 信息披露义务。 一、 协议签署概况 （一） 基本情况 二、 协议对手方情况 创远信科（上海）技术股份有限公司(以下简称"公司")于 2025 年 8 月 30 日在公司集团总部分别与中建材凯盛机器人（上海） 有限公司（以下简称"凯盛机器人"）、深圳优策管理咨询有限公司 （以下简称"优策管理"）签署了《战略意向合作协议》。 凯盛机器人、优策管理与公司均不存在关联关系。 三、 协议主要内容 （一）与凯盛机器人战略意向合 ...

Summary of Key Points Core Viewpoint The trading volume and turnover of stocks on the Beijing Stock Exchange (BSE) experienced a significant decrease on September 1, with a total trading volume of 1.18 billion shares and a turnover of 28.05 billion yuan, down by 4.27 billion yuan compared to the previous trading day. Despite this decline, a majority of stocks saw price increases, indicating a mixed market sentiment. Trading Performance - The total trading volume on the BSE was 1.18 billion shares, with a turnover of 28.05 billion yuan, reflecting a decrease of 4.27 billion yuan from the previous day [1]. - Out of the tradable stocks, 149 stocks closed higher, accounting for 54.58% of the total, while 122 stocks closed lower [1]. - Notable gainers included Keshin New Materials, Kaiteng Precision, and Haidar, with increases of 17.42%, 17.14%, and 15.74% respectively [1]. - The stocks with the largest declines included Haosheng Electronics, Chuangyuan Xinke, and Guoyuan Technology, with decreases of 5.73%, 4.32%, and 4.27% respectively [1]. Stock Activity - A total of 91 stocks had a turnover exceeding 10 million yuan, with the highest turnover stocks being Better Battery, Rongyi Precision, and Gebijia, with turnovers of 758 million yuan, 674 million yuan, and 520 million yuan respectively [1]. - The trading activity showed that 33 stocks had a turnover rate exceeding 10%, with 6 stocks exceeding 20% [1]. - The stocks with the highest turnover rates included Shunyu Precision, Rongyi Precision, and Balanshi, with rates of 37.51%, 35.54%, and 29.93% respectively [1]. Market Dynamics - The market showed a mixed performance with a significant number of stocks experiencing price fluctuations, indicating varying investor sentiment [1]. - The overall trading environment on the BSE reflects a cautious approach from investors amid the recent market changes [1].

Group 1: Automotive Sector Performance - In H1 2025, five companies in the automotive sector reported revenue and net profit growth exceeding 30%, including Lin Tai New Materials and Kai Te Co., with Lin Tai benefiting from advancements in the new energy vehicle sector[3] - The median year-on-year revenue growth for precision component companies in H1 2025 was 13.53%, while the median net profit growth was 13.12%[21] - Ten companies, including Lin Tai New Materials and Wan Cheng Technology, saw both gross and net profit margins increase in H1 2025, despite overall industry pressure[17] Group 2: Market Trends and Valuations - The median price-to-earnings (P/E) ratio for the automotive industry increased by 3.01% to 35.6X in H1 2025, with the total market capitalization decreasing from 598.8 billion to 590.2 billion yuan[34][54] - The median P/E ratio for the electronic equipment sector decreased from 61.0X to 60.8X, with total market capitalization dropping from 1563.1 billion to 1536.1 billion yuan[34][37] - The overall median price change for the North Exchange technology growth stocks was -2.88% from August 25 to August 29, 2025, with 40 companies (27% of the total) experiencing an increase[28][33] Group 3: Company Announcements - Chuangyuan Xinke signed a strategic cooperation agreement with the East China branch of the China Academy of Information and Communications Technology, focusing on 6G and AI technologies[63][66] - Kai Te Co. plans to issue convertible bonds totaling no more than 200 million yuan to fund smart fan projects and working capital[63]

Core Viewpoint - The company, Chuangyuan Xinke, has signed a strategic cooperation agreement with the East China Branch of the China Academy of Information and Communications Technology to focus on the development of "6G+AI" and "6G+Satellite" technologies [1] Group 1 - The agreement was signed on August 28 at the company's headquarters [1] - The collaboration aims to establish a comprehensive concept verification system that includes technical feasibility validation, market value assessment, and industry chain collaborative incubation [1] - Both parties will jointly promote the construction of a new generation 6G communication and satellite internet testing and verification center [1]

Core Viewpoint - The relocation of Chuangyuan Xinke (831961) to a new headquarters marks a significant milestone in the company's development, indicating a new phase of growth and innovation [1]. Group 1: Strategic Developments - On August 28, Chuangyuan Xinke signed a strategic cooperation agreement with the East China Branch of the China Academy of Information and Communications Technology, focusing on mutual benefit and collaborative innovation [1]. - The partnership aims to develop key technology directions such as "6G+AI" and "6G+Satellite," establishing a new generation of testing and verification center for integrated terrestrial and satellite networks [1]. Group 2: Technological Focus - Chuangyuan Xinke is committed to supporting national strategies by concentrating on core technologies in wireless communication, millimeter-wave, 6G, vehicle networking, AI, satellite internet, and low-altitude economy [1]. - The company aims to tackle critical challenges in technology and strives to build a nationally influential brand in instrumentation [1].

Market Performance - The general equipment sector increased by 0.8% on August 28, with Yinghuate leading the gains [1] - The Shanghai Composite Index closed at 3843.6, up 1.14%, while the Shenzhen Component Index closed at 12571.37, up 2.25% [1] Top Gainers in General Equipment Sector - Yinghuate (301272) closed at 46.68, up 14.64% with a trading volume of 89,600 shares and a transaction value of 388 million [1] - Qiaofeng Intelligent (301603) closed at 80.25, up 12.77% with a trading volume of 120,900 shares and a transaction value of 960 million [1] - Meichang Co. (300861) closed at 16.71, up 12.68% with a trading volume of 441,000 shares and a transaction value of 713 million [1] - Shenling Environment (301018) closed at 77.88, up 12.28% with a trading volume of 123,820 shares and a transaction value of 1.733 billion [1] Market Capital Flow - The general equipment sector experienced a net outflow of 3.551 billion from institutional investors, while retail investors saw a net inflow of 3.342 billion [2] - The sector's overall capital flow indicates a mixed sentiment, with institutional investors withdrawing funds while retail investors increased their positions [2] Individual Stock Capital Flow - New Lai Materials (300260) had a net inflow of 81.51 million from institutional investors, while retail investors experienced a net outflow of 42.42 million [3] - Shenling Environment (301018) saw a net inflow of 66.31 million from institutional investors, with retail investors facing a net outflow of 55.83 million [3] - Ding Tai High-Tech (301377) had a net inflow of 36.87 million from institutional investors, while retail investors faced a significant net outflow of 81.52 million [3]

证券代码：831961 证券简称：创远信科 公告编号：2025-094 创远信科（上海）技术股份有限公司 签订战略意向合作协议的公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记 载、误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担个 别及连带法律责任。 一、 协议签署概况 （一） 基本情况 创远信科（上海）技术股份有限公司(以下简称"公司")与中 国信息通信研究院华东分院（以下简称"信通院华东分院"）于 2025 年 8 月 28 日在公司集团总部签署了《战略意向合作协议》。 （二） 审批情况 本协议为框架性协议，不涉及实质性交易，不涉及关联交易， 亦不构成《上市公司重大资产重组管理办法》规定的重大资产重组， 根据《北京证券交易所股票上市规则》《公司章程》等相关规定，上 述协议签订事项无需提交公司董事会或股东会审议。公司将根据相 关法律法规的有关规定，及时履行相应的决策程序和信息披露义 务。 二、 协议对手方情况 信通院华东分院成立于 2010 年 9 月，是由中国信息通信研究 院、上海市经济和信息化委员会等联合共建的地方政府智库和研发 创新平台，是中国信息通信研究院四大分 ...

证券代码：831961 证券简称：创远信科 公告编号：2025-093 创远信科（上海）技术股份有限公司 □新闻发布会 □分析师会议 □路演活动 □其他 投资者关系活动记录表 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假 记载、误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承 担个别及连带法律责任。 一、 投资者关系活动类别 √特定对象调研 □业绩说明会 □媒体采访 □现场参观 二、 投资者关系活动情况 活动时间：2025 年 8 月 27 日 活动地点：上海浦东新区 参会单位及人员：华西证券股份有限公司及其邀请的投资者 上市公司接待人员：董事会秘书、财务总监王小磊女士 三、 投资者关系活动主要内容 本次投资者关系活动的主要问题及公司对问题的回复概要如 下： 问题 1：据悉工信部即将发放第二批毫米波专网频率许可牌照 以及卫星互联网牌照，请问信息属实吗？公司已有哪些产品适用于 上述领域？ 2025 年半年度公司各类研发项目取得了阶段性成果，推出了 44GHz 手持频谱分析仪、41GHz 手持矢量信号发生器等多款新产品， 更新迭代了 TSP Scanner 扫频仪、T3661C 矢量 ...

Group 1: AI Medical - Ping An Good Doctor's stock surged by 6.99% on August 26, with its price doubling in the past month. The company reported an AI product system "7+N+1" with an accuracy rate of approximately 98% for AI-assisted consultations and nearly 80% for complex disease treatment plans [4] - The average service cost for family doctors decreased by about 52% due to AI assistance, and operational efficiency improved by around 50% [4] Group 2: Artificial Intelligence Policy - The State Council released an opinion on August 26 to implement the "Artificial Intelligence+" initiative, aiming for over 70% application penetration of new intelligent terminals and agents by 2027, and over 90% by 2030 [5] - The initiative includes building national AI application pilot bases and promoting the transformation of software and information service companies [5] Group 3: 5.5G Development - The Ministry of Industry and Information Technology is expected to issue the second batch of millimeter-wave private network frequency licenses, with more companies anticipated to receive licenses by the end of the year [6] - This issuance indicates the maturity of the domestic millimeter-wave 5G industry chain and is expected to initiate a wave of innovation in the sector [7] Group 4: Gaming Industry - The National Press and Publication Administration approved 173 games in August 2025, setting a new record for the year, including 166 domestic and 7 imported games [9] - The gaming market is projected to maintain long-term optimistic growth, with the 3A game market expected to reach 13.3 billion yuan in 2025 and 16.9 billion yuan in 2026, with a CAGR of 35% anticipated from 2027 to 2028 [9] Group 5: Company Earnings - Cambrian reported a net profit of 1.038 billion yuan in the first half of 2025, compared to a loss of 530 million yuan in the same period last year [12] - North Rare Earth's net profit surged by 1951.52% year-on-year to 931 million yuan in the first half of 2025 [12] - Light Media's net profit increased by 371.55% year-on-year to 2.229 billion yuan in the first half of 2025 [12]