Core Viewpoint - The report from Credit Lyonnais indicates a downgrade in the rating of China Software International (00354) from "highly confident to outperform" to "outperform," while raising the target price from HKD 6.5 to HKD 7.1, reflecting a delay in revenue growth due to anticipated large-scale procurement orders from the government and state-owned enterprises for Huawei's new PCs expected by the end of this year to next year [1] Group 1 - The revenue growth forecast for 2025 has been revised down from 10% to a year-on-year increase of 7.6%, indicating a delay in the revenue contribution from its virtual machine products [1] - The long-term development trend of China Software International remains unchanged, with expectations that the launch of Huawei's HarmonyOS personal computers will drive the virtual machine business to become a key focus for development this year [1] - The new growth drivers are expected to take time to materialize, with the virtual machine business anticipated to take longer to contribute to revenue [1] Group 2 - Credit Lyonnais expects a slight improvement in the gross profit margin for China Software International this year, benefiting from the rapid growth of high-margin businesses [1] - The forecast for the first half of the year includes a year-on-year revenue growth of 10.5% and a net profit growth of 10.1% [1]

里昂发表研报指，中国软件国际长期发展趋势未变，预期华为鸿蒙个人计算机的推出，将推动虚拟机业 务成为今年发展重心，但新增长动力需时体现，预期虚拟机业务需时更久才能贡献收入。受惠于高利润 业务增速较快，里昂预期中软今年毛利率可轻微改善，目前预测上半年收入及净利润分别按年增长 10.5%及10.1%。 考虑到中软现价估值并不便宜，里昂将其评级从"高度确信跑赢大市"下调至"跑赢大市"，目标价从6.5 港元上调至7.1港元，预期政府和国企对华为新PC的大规模采购订单要到今年底至明年才会出现，因此 将2025年收入增长预测从10%下调至按年增长7.6%，反映其虚拟机产品的收入贡献延迟。 ...

证券之星消息，8月19日IT服务板块较上一交易日上涨1.35%，达实智能领涨。当日上证指数报收于 3727.29，下跌0.02%。深证成指报收于11821.63，下跌0.12%。IT服务板块个股涨跌见下表： 从资金流向上来看，当日IT服务板块主力资金净流出2.92亿元，游资资金净流出6.97亿元，散户资金净流 入9.89亿元。IT服务板块个股资金流向见下表： | 代码 | 名称 | 主力净流入(元) | 主力净占比 游资净流入 (元) | | 游资净占比 散户净流入(元) | | 散户净占比 | | --- | --- | --- | --- | --- | --- | --- | --- | | 300339 润和软件 | | 3.01亿 | 2.52% | -2.59 Z | -2.17% | -4198.70万 | -0.35% | | 002421 达实智能 | | 2.43 乙 | 24.61% | -1.04亿 | -10.52% | -1.39亿 | -14.09% | | 301236 软通动力 | | 1.72亿 | 3.33% | -6892.39万 | -1.33% | -1.03亿 | ...

Group 1 - The core viewpoint of the article highlights the strong performance of China Software International, with a stock price increase of 5.09% and a trading volume of 3.41 billion yuan [1] - The company specializes in global software and IT services, including cloud applications, AIoT, digital twin technology, ERP consulting, and digital transformation services, serving various industries such as government, finance, energy, manufacturing, telecommunications, internet, transportation, water conservancy, and public utilities [1] - Since its listing in 2003, the company has achieved a compound annual revenue growth rate of 28.7% and currently employs approximately 70,000 staff across 47 countries and regions, ranking 73rd in Gartner's global IT services market share [1] Group 2 - As of the 2024 annual report, China Software International reported total revenue of 16.951 billion yuan and a net profit of 513 million yuan [2] - The company is set to disclose its mid-year report for the fiscal year 2025 on August 25 [3]

中证报中证网讯（王珞）近日，东方通企业服务总线软件TongESB（医疗版）V7.1顺利通过了由中国软 件评测中心（工业和信息化部软件与集成电路促进中心）组织的医疗信息互联互通"标准符合性"产品能 力测评，获得产品技术认证，成为首款通过该项测评的自主研发中间件产品。 据悉，东方通TongESB（医疗版）V7.1作为医院/区域信息平台、医共体平台等集成平台核心组件之 一，可以为众多医疗IT企业构建集成平台提供重要支撑。 图片来源：东方通 东方通TongESB产品，经过20余年的持续创新与迭代，具有覆盖金融、电信、交通、能源、政府机构与 高端制造业的丰富案例，由TongESB等产品支撑的民航数据共享交换平台、雅万高铁地震中心系统等项 目受到各界高度认可，曾分别荣获中国交通运输协会2021年度科技进步奖、中国信通院"云帆行动"数字 企业出海典型案例等奖项认证。 基于成熟、可靠的TongESB产品，东方通加强面向医疗信息化建设需求与技术趋势迭代升级，发布了面 向医疗行业的TongESB（医疗版）V7.1。该产品经过不断打磨，已成为首款通过医疗信息互联互通"标 准符合性"产品能力测评的自主创新专业中间件产品，将进一步推动 ...

Investment Rating - The report maintains a "Recommended" rating for the industry [5] Core Insights - The satellite internet industry is poised for significant development opportunities under strong policy support, marking the beginning of a "great maritime era" in commercial aerospace. The integration of satellite internet and computing power, particularly in the field of space computing, shows long-term growth potential. The construction of relevant satellite constellations in China is accelerating, positioning it as a crucial new direction for the development of both satellite internet and computing industries [3][45]. Summary by Sections Market Review - During the week of August 11-15, the CSI 300 Index rose by 2.37%, the SME Index increased by 3.11%, and the ChiNext Index surged by 8.58%. The computer sector (CITIC) saw a rise of 6.31% [1][53]. Industry News - The National Data Bureau announced plans to introduce over 10 new systems, including data property rights, to enhance the data market [46]. Company Dynamics - Hanxin Technology's major shareholders plan to reduce their holdings by up to 620,000 shares, which is approximately 0.9987% of the total share capital, without affecting the company's control [2][50]. - Tangyuan Electric's subsidiary completed a capital increase, raising its registered capital from 2 million to 15 million yuan [2][50]. Investment Recommendations - Key companies to focus on in the space computing sector include Putian Technology, Zhongke Xingtou, Zhongke Shuguang, Kaipu Cloud, Ruantong Power, Qianfang Technology, Jiadu Technology, and China Software. Additionally, attention is recommended for leading companies in the satellite internet niche, such as Chuangyi Information, Shanghai Hantong, Nanjing Panda, Meiansen, and Liujiumer [3][45]. Related Research - The report references several previous studies and industry reports that provide insights into the development of AI and satellite technologies, indicating a growing interest in these sectors [8].

热门ETF方面，聚焦数据安全领域的大数据产业ETF（516700）场内价格盘中涨超2.2%，现涨1.63%，冲击日线4连阳！ 今日（8月14日）国产替代方向强势崛起！国投智能20CM涨停！中科曙光涨超7%获主力资金净流入18亿元，荣登A股吸金榜第二；曙光数创亦涨逾7%，中 国长城、拓尔思、神州泰岳等个股跟涨。 聚焦数据安全领域的大数据产业ETF（516700）被动跟踪中证大数据产业指数，重仓数据中心、云计算、大数据处理等细分领域，权重股汇聚中科曙光、科 大讯飞、紫光股份、浪潮信息、中国长城、中国软件等龙头股，看好科技自主可控方向的投资者，或可重点关注这三方面的催化： 风险提示：大数据产业ETF被动跟踪中证大数据产业指数，该指数基日为2012.12.31，发布于2016.10.18，指数成份股构成根据该指数编制规则适时调整，其 回测历史业绩不预示指数未来表现。本文中提及的指数成份股仅作展示，个股描述不作为任何形式的投资建议，也不代表管理人旗下任何基金的持仓信息和 交易动向。基金管理人评估的该基金风险等级为R3-中风险，适宜平衡型（C3）及以上的投资者，适当性匹配意见请以销售机构为准。任何在本文出现的信 息（包括 ...

Market Performance - The IT services sector increased by 1.77% on August 15, with Guoyuan Technology leading the gains [1] - The Shanghai Composite Index closed at 3696.77, up 0.83%, while the Shenzhen Component Index closed at 11634.67, up 1.6% [1] Top Gainers in IT Services - Guoyuan Technology (835184) closed at 27.05, up 22.29% with a trading volume of 318,300 shares and a transaction value of 824 million [1] - Haixia Innovation (300300) closed at 6.08, up 17.37% with a trading volume of 1,327,000 shares and a transaction value of 770 million [1] - LianDi Information (839790) closed at 53.37, up 11.63% with a trading volume of 96,700 shares and a transaction value of 499 million [1] Market Capital Flow - The IT services sector experienced a net outflow of 1.359 billion from institutional investors and 332 million from retail investors, while retail investors saw a net inflow of 1.691 billion [2][3] - Notable stocks with significant capital flow include Wangsu Technology (300017) with a net inflow of 336 million from institutional investors [3]

Group 1 - The core viewpoint of the news highlights the strong rise of domestic alternatives in the market, with notable stock performances such as Guotou Intelligent hitting a 20% limit up and Zhongke Shuguang increasing over 7% with a net inflow of 1.8 billion yuan from main funds [1][3] - The National Data Bureau reported significant advancements in China's digital infrastructure, with 4.55 million 5G base stations and 226 million gigabit broadband users expected by June 2025, positioning China as a global leader in this sector [3] - The AI technology and large model iterations are accelerating, presenting challenges to traditional security paradigms, and emphasizing the need for a "trustworthy, controllable, and secure" digital foundation [3] Group 2 - The Big Data Industry ETF (516700) focuses on data security and has seen a price increase of over 2.2% during trading, indicating strong market interest in this sector [1][3] - Key catalysts for investment in the technology self-reliance direction include high-level calls for "technology to take the lead," the activation of digital productivity through top-level design, and the acceleration of the domestic substitution process [3] - The market for AI and security integration is vast, with significant opportunities in various sectors such as industry, education, healthcare, finance, and law [3]

Group 1 - The core viewpoint of the article highlights the strong performance of China Software International, with a notable stock price increase of 5.15% on August 14, reaching HKD 6.12 per share and a trading volume of HKD 3.08 billion [1] - The company specializes in global software and IT services, including cloud applications, AIoT, digital twin technology, ERP consulting, and digital transformation services, serving various industries such as government, finance, energy, manufacturing, telecommunications, internet, transportation, water conservancy, and public utilities [1] - Since its listing in 2003, the company has achieved a compound annual revenue growth rate of 28.7%, currently employing approximately 70,000 staff and operating in 47 countries and regions, ranking 73rd in Gartner's global IT services market share [1] Group 2 - As of the 2024 annual report, China Software International reported total operating revenue of RMB 16.951 billion and a net profit of RMB 513 million [2] - The company is set to disclose its mid-year report for the fiscal year 2025 on August 25 [3]