Core Viewpoint - The "Annual Outstanding New Quality Productive Enterprises" award recognizes companies that excel in promoting new quality productivity, emphasizing the importance of total factor productivity improvement in driving economic transformation and upgrading [4]. Group 1: Award Announcement - The "Annual Outstanding New Quality Productive Enterprises" award ceremony was held online on December 22, featuring the announcement of the prestigious "Golden Grid Award" [1]. - Nine companies were honored with the "Annual Outstanding New Quality Productive Enterprises" award, including Fan Shi Intelligent (06682.HK), Lihe Science and Technology (002243.SZ), Sanqi Interactive Entertainment (002555.SZ), Hillway (SVM.US), Trip.com Group-S (09961.HK/TCOM.US), Yika Tong (ECX.US), Youjia Innovation (02431.HK), Zhengli New Energy (03677.HK), and Zhaol Intelligent Logistics (02098.HK) [1]. Group 2: Evaluation Criteria - The award aims to recognize enterprises that have made significant contributions to the development of new quality productivity, which is characterized by specialized, refined, and distinctive growth paths [4]. - The selection process involved quantitative data analysis and evaluation by an expert panel to determine the final results [4]. - The "Golden Grid Award" aims to create a valuable reference list of listed companies and unicorns in the investment community, covering all listed companies on major exchanges including the Hong Kong Stock Exchange, Shanghai Stock Exchange, Shenzhen Stock Exchange, New York Stock Exchange, and NASDAQ [4].

于临时股东会上批准后，潘嘉林先生获委任为独立非执行董事，任期将自 2025年12月19日起至本届董 事会任期届满为止。 智通财经APP讯，第四范式(06682)公布，董事会接获刘助展先生的辞任函。为投放更多时间于其他业务 承诺，刘助展先生辞去独立非执行董事职位，自 2025年12月19日起生效。 ...

Core Viewpoint - Fourth Paradigm (06682.HK) announced the resignation of Liu Zhuzhan from the position of independent non-executive director, effective December 19, 2025, to focus more on other business commitments [1] Group 1 - Liu Zhuzhan resigned to allocate more time to other business commitments [1] - Pan Jialin has been appointed as the independent non-executive director, with a term starting from December 19, 2025, until the current board's term expires [1]

第四范式(06682)公布，董事会接获刘助展先生的辞任函。为投放更多时间于其他业务承诺，刘助展先 生辞去独立非执行董事职位，自2025年12月19日起生效。 于临时股东会上批准后，潘嘉林先生获委任为独立非执行董事，任期将自2025年12月19日起至本届董事 会任期届满为止。 ...

Beijing Fourth Paradigm Technology Co., Ltd. 北京第四範式智能技術股份有限公司 （於 中 華 人 民 共 和 國 註 冊 成 立 的 股 份 有 限 公 司） （股 份 代 號：6682） 董事名單及其角色及職能 北京第四範式智能技術股份有限公司（「本公司」）的董事會（「董事會」）成員載列 如 下。 執行董事 戴文淵博士 （董 事 長、首 席 執 行 官 兼 總 經 理） 陳雨強先生 （首 席 研 究 科 學 家） 于中灝先生 （副 董 事 長 兼 高 級 副 總 裁） 非執行董事 楊強博士 竇帥先生 張晶先生 獨立非執行董事 李建濱先生 劉持金先生 柯燁樂女士 潘嘉林先生 職工代表董事 柴亦飛先生 – 1 – – 2 – 董 事 會 設 有 三 個 委 員 會。下 表 詳 列 該 等 委 員 會 的 成 員。 董事會委員會 董事會 審計委員會 薪酬委員會 提名委員會 戴文淵博士 C 陳雨強先生 于中灝先生 楊強博士 M M 竇帥先生 張晶先生 李建濱先生 C M 劉持金先生 M M 柯燁樂女士 C M 潘嘉林先生 柴亦飛先生 香 港 2025年12月19日 附 註 ...

北京第四範式智能技術股份有限公司 章 程 二○二五年十二月 | 第一章 | 總 | | 則 | | | | | | | 1 | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 第二章 | | | 經營宗旨和範圍 | | | | | | | 2 | | | | | | 第三章 | 股 | | 份 | | | | | | | 3 | | | | | | 第一節 | | | 股份發行 | | | | | | | 3 | | | | | | 第二節 | | | 股份增減和回購 | | | | | | | 7 | | | | | | 第三節 | | | 股份轉讓 | | | | | | | 9 | | | | | | 第四章 | | | 股東和股東會 | | | | | | | 10 | | | | | | 第一節 | | | 東 | | | | | | | 10 | | | 股 | | | 第二節 | | | 控股股東和實際控制人 | | | | | | | 14 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示 概 不 就 因 本 公 告 全 部或任何部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 Beijing Fourth Paradigm Technology Co., Ltd. 北京第四範式智能技術股份有限公司 （於 中 華 人 民 共 和 國 註 冊 成 立 的 股 份 有 限 公 司） （股 份 代 號：6682） (1) 於二零二五年十二月十九日（星 期 五）舉行之 臨 時 股 東 會 之 投 票 表 決 結 果； (2) 獨 立 非 執 行 董 事 辭 任； (3) 委 任 獨 立 非 執 行 董 事； 及 (4) 修改公司章程 茲提述北京第四範式智能技術股份有限公司（「本公司」）日期為二零二五年十二 月三日內容有關本公司臨時股東會（「臨時股東會」）之通函（「通 函」）。除 文 義 另 有 所 指 外，本 公 告 所 用 詞 彙 與 通 函 所 界 定 者 具 有 相 同 涵 義。 日期為二零二五年十二月三日的臨時股東會通告（ ...

Core Insights - The report emphasizes that the computer industry is driven by model iteration, application breakthroughs, and domestic computing power leadership, with a buy rating for the sector [2][4][17]. Industry Overview - The AI infrastructure sector is transitioning from "testing and trial" to "large-scale rollout in 2026" for domestic AI chip replacements, with a narrowing gap between domestic and international leading models [8][17][26]. - The AI application sector is categorized into three types of companies: those with recognized benchmark clients but in early stages, those with long-term trends but uncertain timelines, and those leveraging AI with reachable inflection points [8][17][19]. - The EDA and R&D software sector is seeing rapid improvement in domestic product capabilities, with mergers and acquisitions expected to accelerate due to policy support [8][17][21]. - In the intelligent driving and robotics sector, the report suggests focusing on competitive chip tracks, overseas expansion, and new autonomous driving opportunities, recommending global AMR leader Geek+ [8][18][21]. - The report notes that traditional trust and innovation directions are facing funding delays, while the release of HarmonyOS PC in 2025 is seen as a catalyst for business growth and technological upgrades [8][18][21]. - The energy information sector is expected to benefit from stable capital expenditures and market reforms, although policy implementation timelines need to be monitored [8][18][21]. Key Companies - In the AI infrastructure sector, recommended companies include Cambricon, Inspur, and Unisoc, with attention to Sugon [8][19]. - For AI applications, notable companies are Jingtaikong, Rainbowsoft, and Kingdee International, with additional focus on Hancloud and Guangyun Technology [8][19][21]. - In the intelligent driving and robotics sector, key players include Geek+, Black Sesame Intelligence, and Rui Ming Technology, with recommendations to monitor Desay SV and SOTER [8][19][21]. - In the EDA and R&D software sector, companies like GigaDevice, Gexin Electronics, and BGI are highlighted, with attention to Zhongkong Technology and Haocen Software [8][19][21]. - For trust and innovation, recommended companies include Kingsoft and Softcom, with additional focus on Taiji Co. and China Software International [8][19][21]. - In the energy information sector, notable companies are Guoneng Rixin and Longxin Group, with attention to State Grid Information and South Grid Digital [8][19][22].

Core Viewpoint - The artificial intelligence (AI) concept stocks have shown strong performance, with notable increases in share prices for several companies, indicating a positive market sentiment towards AI technologies [1][2] Group 1: Stock Performance - Lion Group (02562) increased by 6.72% - ZhiZi City Technology (09911) rose by 6.43% - SenseTime-W (00020) gained 5.21% - Weimob Group (02013) saw a rise of 5.13% - GDS Holdings Limited-SW (09698) increased by 2.33% - Fourth Paradigm (06682) rose by 2.38% [1][2] Group 2: Research Insights - CITIC Securities' report highlights the convenience features of Doubao AI phone, showcasing the potential of edge-side agents; however, it also points out the limitations due to various application permissions and interface restrictions, reflecting the current fragmentation in the traditional smartphone ecosystem [1][2] - The report suggests that for AI phones to achieve large-scale adoption, there is a need to redefine the collaboration between AI, applications, and operating systems, indicating potential restructuring of existing ecosystem boundaries and roles [1][2] - China Galaxy Securities notes that while overseas large models face high cost issues in the short term, the trend towards accelerated implementation of AI agents remains unchanged despite the current mismatch in technology maturity and commercialization pace [1][2]

Core Viewpoint - The recent authorization of the "AI Smart Glasses" patent by Fourth Paradigm (Beijing) Technology Co., Ltd. and Shenzhen Weike Technology Co., Ltd. indicates a significant advancement in multifunctional smart eyewear technology, which includes features such as object recognition, photography, recording, translation, communication, navigation, and AI voice assistance [1] Group 1 - Fourth Paradigm (Beijing) Technology Co., Ltd. has received authorization for its "AI Smart Glasses" patent [1] - Shenzhen Weike Technology Co., Ltd. is also involved in the development of the "AI Smart Glasses" [1] - The smart glasses are designed for multiple functionalities, enhancing user experience in various applications [1]