Market Overview - The Shanghai Composite Index closed at 3683.46 points, above the six-month moving average, with an increase of 0.48% [1] - The total trading volume of A-shares reached 21,752.11 billion yuan [1] Stocks Breaking the Six-Month Moving Average - A total of 63 A-shares have surpassed the six-month moving average today [1] - Notable stocks with significant deviation rates include: - Guanggang Gas with a deviation rate of 10.02% - Fuan Energy at 9.12% - Tenglong Co. at 8.88% [1] Detailed Stock Performance - The following stocks showed notable performance: - Guanggang Gas: Today's increase of 13.13% with a turnover rate of 13.67% [1] - Fuan Energy: Increased by 10.04% with a turnover rate of 1.43% [1] - Tenglong Co.: Increased by 10.06% with a turnover rate of 7.65% [1] - Other stocks with smaller deviation rates include: - Guangshen Railway, Luopus Gold, and Chahua Co., which have just crossed the six-month line [1]

Group 1 - In the past month (from July 6 to August 5), 23 companies listed on the Beijing Stock Exchange (BSE) were investigated by institutions, with Minshida being the most notable, receiving attention from 96 institutions [1] - The types of institutions conducting the research included 20 brokerages, 9 funds, 8 private equity firms, and 3 insurance companies [1] - The companies that received the most institutional attention were Minshida, Xingtum Control, Taihu Snow, and Yuanhang Precision, with 96, 37, 36, and 23 institutions participating in their investigations, respectively [1] Group 2 - The most frequently investigated companies included Xingtum Control, Hanwei Technology, and Hengli Drill Tools, each receiving two rounds of institutional research [2] - Companies that were investigated by institutions saw an average stock price increase of 8.93% over the month, with notable gainers including Hengli Drill Tools (up 172.72%), Guangxin Technology (up 14.15%), and Sanwei Equipment (up 13.68%) [2] - The average market capitalization of all companies on the BSE was 3.136 billion yuan, while the average market capitalization of the companies that received institutional research was 3.609 billion yuan [2] Group 3 - A detailed list of companies investigated includes Minshida, Xingtum Control, Taihu Snow, and others, with their respective number of institutions involved, research frequency, latest closing prices, and percentage changes in stock prices [3] - The highest stock price increase was recorded by Hengli Drill Tools, while other companies like Guangxin Technology and Sanwei Equipment also showed significant gains [3]

Group 1: AI and Robotics Industry Insights - The 2025 World Artificial Intelligence Conference showcased over 3,000 cutting-edge exhibits, including 40 large models and 60 intelligent robots, with an exhibition area exceeding 70,000 square meters[1] - As of August 1, 2025, there are 20 AI-related companies listed on the Beijing Stock Exchange, with a total market capitalization of 75.903 billion yuan[1] - The robotics sector on the Beijing Stock Exchange comprises 11 companies, with a total market capitalization of 42.815 billion yuan as of August 1, 2025[30] Group 2: Market Performance and Valuation - The average weekly performance for the pharmaceutical and biological sector saw a gain of 4.04%, while high-end equipment and information technology sectors experienced declines of -2.82% and -2.26%, respectively[3] - The median price-to-earnings (PE) ratio for the high-end equipment sector dropped to 48.7X, while the information technology sector's median PE ratio fell to 80.4X[3] - The total market capitalization of 150 technology new industry companies decreased from 485.859 billion yuan to 471.580 billion yuan, with the median market capitalization dropping from 2.452 billion yuan to 2.381 billion yuan[57] Group 3: Company Announcements and Developments - Jianbang Technology's subsidiary in Thailand has transitioned to the production phase after receiving the business license[78] - Zhongcheng Technology signed a cooperation agreement with China Mobile for a big data cloud platform service project worth 50.5207 million yuan[78] - Nacono received a patent for a method and device for detecting broken belts in a slitting machine[78] Group 4: Risk Factors - The report highlights risks associated with macroeconomic changes, market competition, and data statistical errors[81]

1. Report Industry Investment Rating - The report maintains an overall optimistic view of the North Exchange market for the whole year, believing that the positioning and development direction of the "specialized, refined, characteristic, and innovative" North Exchange market are highly consistent with the national policy orientation of the "self - controllable" and innovation - driven development strategy [24]. 2. Core Viewpoints of the Report - In July 2025, the North - 50 Index and the North Specialized, Refined, Characteristic, and Innovative Index underperformed major indices such as the ChiNext and STAR Market. However, in the first seven months of 2025, the North - 50 Index rose 37%, outperforming other major indices. The market was weak in July, but some sub - sectors like building decoration and pharmaceutical biology performed well. The market has been in a range - bound consolidation for over two months, and with continuous progress in "high - quality" expansion, code switching of existing stocks, and the issuance of specialized, refined, characteristic, and innovative index funds, the market should gradually turn optimistic. The market may return to the performance - driven mainline, and attention should be paid to high - quality companies with continuous high - growth performance [3][6][24]. 3. Summary by Relevant Catalogs 3.1 Week - view - In July 2025, the North - 50 Index fell 1.68%, and the North Specialized, Refined, Characteristic, and Innovative Index fell 2.70%, underperforming major indices. In the first seven months of 2025, the North - 50 Index rose 37%, far outperforming other major indices, and indices such as the STAR - 200 and CSI 2000 also rose over 20%. In July, sectors such as building decoration and pharmaceutical biology in the North Exchange market had relatively high increases. Only 16 companies had a monthly increase of over 20%, and 6 companies including Hengli Drilling Tools had an increase of over 50%. Compared with June 2025, trading volume, turnover, and turnover rate in July all declined. As of July 31, 2025, the overall price - to - earnings ratio (TTM, excluding negatives) of the North Exchange A - share index reached 51 times, 134% of the ChiNext index and 84% of the STAR Market index [3][6][12]. 3.2 Market Performance - This week, the overall price - to - earnings ratios of the ChiNext, STAR Market, and North Exchange A - shares declined. The North Exchange A - shares' overall PE dropped from 52.17X to 50.92X. In terms of liquidity, the daily average trading volume of North Exchange A - shares this week was 257 billion yuan, a 17% decrease from last week. The daily average turnover rate of North Exchange A - shares dropped to 5.94%, a decrease of 1.1 percentage points from last week. The North - 50 Index fell 2.70% this week, and major indices such as the CSI 300, STAR - 50, and ChiNext also declined [26][27]. 3.3 New Stock Listings - From January 1, 2024, to August 1, 2025, 30 new companies were listed on the North Exchange. From July 28 to August 1, 2025, 1 new company, Dingjia Precision, was listed. From January 1, 2023, to August 1, 2025, the average issue price - to - earnings ratio of 107 listed companies was 16.20X, and the median was 15.86X. The average first - day increase was 111%, and the median was 51% [32][35]. 3.4 New Stock IPOs - From July 28 to August 1, 2025, 2 companies, Aomisen and Sanxie Electric, updated their review status to registration; 1 company, Yangtze River Energy Technology, updated its status to passing the listing committee meeting; 22 companies updated their status to being under inquiry. Next week, the North Exchange will review the IPO applications of 2 companies, Zhongcheng Consulting and Nante Technology [41].

Group 1 - The core viewpoint of the article highlights the realization of AI applications moving from imagination to practical productivity, driven by advancements in domestic computing power and reduced costs [2][3] - The company, Beijing Parallel Technology Co., Ltd., leverages its high-performance computing (HPC) and AI technology to provide specialized computing solutions across various fields, including AI, intelligent manufacturing, and life sciences [2] - In the first half of 2025, the company reported a revenue of 458 million yuan, representing a year-on-year growth of 69.27%, and a net profit attributable to shareholders of 5.08 million yuan, up 20.05% year-on-year [2] Group 2 - At the World Artificial Intelligence Conference, the company showcased its Parallel Computing Network service and a cross-regional intelligent scheduling platform, emphasizing its core advantage in the commercial model of the Parallel Computing Network [3] - The Parallel Computing Network has integrated computing resources across 45 intelligent computing centers and 15 supercomputing centers, effectively adapting to various high-load scenarios such as AI model training and industrial simulation [3] - The company anticipates a continued decline in computing costs over the next three years, aiming to promote the accessibility of domestic computing power and enhance the utilization rate of domestic computing resources [3]

Market Overview - On July 31, the A-share market closed with the Shanghai Composite Index at 3573.21, down 1.18%, and the Shenzhen Component Index at 11009.77, down 1.73% [1] Top Stocks Performance - Among the top 10 stocks by trading volume on the Beijing Stock Exchange, 5 stocks experienced price increases, with an average increase of 102.09%. N Dingjia (920005) led with a trading volume of 1.06 billion yuan and a price increase of 479.12% [1][2] - The other stocks in the top 10 included Hengli Drilling Tools (836942) with a decrease of 11.39%, Wuxin Suizhuang (835174) down 7.19%, and Parallel Technology (839493) up 1.73% [2] Capital Flow Analysis - In terms of capital flow, 5 out of the top 10 stocks showed net inflows of main funds, indicating positive investor sentiment towards these stocks [1]

Core Insights - The company, Bianxing Technology, announced its operational cooperation models for computing power resources, including external procurement and co-construction models [1] - The company has integrated various types of domestic chip computing power resources into its service platform, providing related technical services [1] - The utilization rate of the company's own GPU computing power resources is reported to be between 85% and 90% [1] - A strategic partnership with Alibaba Cloud was revealed, which includes co-building a domestic computing power center, jointly operating a public cloud zone, and promoting industry large models [1]

并行科技：公司自有GPU算力资源利用率在85%-90%区间 智通财经7月29日电，并行科技(839493)公告称，并行科技在投资者关系活动中介绍了公司算力资源建 设运营合作模式，包括外购模式和共建模式。在国产算力资源使用方面，公司通过测试验证推广服务一 体化平台接入多种类型的国产芯片算力资源，并提供相关技术服务。公司自有GPU算力资源利用率在 85%-90%区间。此外，公司还透露与阿里云的战略合作内容，包括共建国产算力中心、共营公共云专区 和共推行业大模型。 ...

Group 1: Investor Relations Activities - The company conducted a specific investor survey on July 29, 2025, at the company meeting room, attended by Zhongyou Securities and the board secretary, Mr. Shi Jianwei [3][4]. Group 2: Computing Resource Acquisition Models - The company acquires computing resources through two main models: external purchase agreements with upstream suppliers and a co-construction model where the company builds its own computing clusters [4]. - The co-construction model allows the company to rent and use data center facilities to provide proprietary computing resources to downstream clients [4]. Group 3: Domestic Computing Resource Utilization - The company’s domestic computing resource usage is categorized into several application scenarios, with the highest demand for "basic large model training" and "mainstream large model inference" [5]. - The company has integrated various domestic chip computing resources into its platform, supported by a team of engineers for installation and optimization [5]. Group 4: Computing Resource Utilization Rate - The utilization rate of the company's proprietary GPU computing resources is currently between 85% and 90% [6]. Group 5: Strategic Cooperation with Alibaba Cloud - The strategic cooperation with Alibaba Cloud focuses on three main areas: building domestic computing centers, co-developing public cloud services, and promoting industry large models [7][8]. - The partnership aims to create a closed-loop system of "co-construction, sharing, and promotion" to enhance resource efficiency and commercial value [8]. Group 6: Shareholder Reduction Plans - The major shareholder, Qingkong Yinxing Nantong Venture Capital Fund, has completed its planned share reduction, and future decisions on further reductions will depend on various factors including market conditions [9]. Group 7: Gross Margin Decline in Intelligent Computing Cloud Business - The gross margin of the intelligent computing cloud business has declined due to factors such as product demand differences, resource allocation, and market competition [10]. - The revenue share from general cloud and industry cloud services has decreased, while the share from intelligent computing cloud services has increased, affecting overall gross margin [10].

中国国际金融股份有限公司 关于北京并行科技股份有限公司 募投项目结项的核查意见 中国国际金融股份有限公司（以下简称"保荐机构"）作为北京并行科技股份有限 公司（以下简称"并行科技"或"公司"）向不特定合格投资者公开发行股票并在北京 证券交易所上市的保荐机构，对并行科技履行持续督导义务。根据《证券发行上市保荐 业务管理办法》《北京证券交易所股票上市规则》《北京证券交易所上市公司持续监管 办法（试行）》《北京证券交易所证券发行上市保荐业务管理细则》等相关法律、法规 和规范性文件的规定，对并行科技募投项目结项的事项进行了认真、审慎核查，具体情 况如下： 二、募集资金管理情况 万股、33.40 万股及 6.00 万股，合计 690.40 万股股份，预计募集资金不超过 20,712.00 万元。根据立信会计师事务所（特殊普通合伙）出具的信会师报字[2021]第 ZB11551 号《验资报告》确认，截至 2021 年 12 月 10 日止，公司已收到中小企业发展基金（江 苏南通有限合伙）、吕大龙、宁波卓辉创曜股权投资合伙企业（有限合伙）、北京兴 健投资发展中心（有限合伙）、徐放及北京君利联合创业投资合伙企业（有限合伙） ...