Group 1 - The core viewpoint of the article highlights the target price increases for several listed companies, with significant growth percentages noted for New Qianglian, Pudong Development Bank, and Angel Yeast, indicating strong market confidence in these sectors [1][2]. - New Qianglian has a target price increase of 35.75%, with a highest target price set at 60.00 CNY, categorized under the wind power equipment industry [2]. - Pudong Development Bank shows a target price increase of 33.45%, with a highest target price of 15.00 CNY, classified in the joint-stock banking sector [2]. - Angel Yeast has a target price increase of 27.12%, with a highest target price of 55.55 CNY, belonging to the seasoning and fermentation products industry [2]. Group 2 - On January 14, a total of 17 listed companies received broker recommendations, with Dongpeng Beverage receiving the highest number of recommendations at 3, followed by Pudong Development Bank with 2 [3]. - Dongpeng Beverage's closing price was 264.68 CNY, and it is categorized in the beverage and dairy industry [3]. - Pudong Development Bank's closing price was 11.24 CNY, and it is classified under the joint-stock banking sector [3]. Group 3 - On January 14, two companies received their first coverage from brokers, with Lingge Technology rated "Overweight" and Helin Micro-Nano rated "Buy" by Huayuan Securities [4][5]. - Lingge Technology is categorized under specialized equipment, while Helin Micro-Nano is classified in the semiconductor industry [5].

Summary of Yonyou Network Conference Call Company Overview - **Company**: Yonyou Network - **Industry**: Enterprise Software and AI Solutions Key Points Revenue Growth and Business Strategy - Yonyou Network expects revenue growth to accelerate in 2026, focusing on AI integration and subscription models, with a significant improvement in cash flow and a target for annual profit to turn positive [2][5] - The company identifies AI, domestic data localization, and overseas markets as primary growth drivers, with resources and business efforts concentrated in these areas [2][5] Product Development and Market Position - The maturity of Yonyou's VIP product has increased, leading to a reduction in delivery difficulties for large clients, with core product revenue share rising [2][6] - The VIP product has replaced over 160 large enterprises' SAP or Oracle systems, enhancing global capabilities and achieving rapid growth in overseas markets [2][6] AI Application and Orders - In 2025, Yonyou's AI orders exceeded 700 million yuan, accounting for over 10% of total orders, with expectations for further increases in 2026 [2][7] - The introduction of AI applications has improved customer acceptance of public cloud services, with the VIP Super Edition contract amount surpassing 400 million yuan [2][7] Domestic Replacement Opportunities - Yonyou sees ongoing domestic replacement opportunities over the next two years, requiring higher standards from domestic manufacturers, with demonstrated capabilities in large enterprise replacements [2][8] - The new YS product has become a major growth driver for mid-sized clients, reversing the declining revenue trend in this segment [2][8] AI Technology Development - Yonyou's AI technology is creating new business opportunities and driving clients to upgrade outdated systems to adapt to the new generation of BIP products [2][9] - The company has launched AI Agent applications, which have rapidly gained market recognition, although challenges remain in data integration and dynamic decision-making [2][10][11] Ontology Technology and Its Impact - Yonyou utilizes ontology technology to bridge structured and unstructured data, enhancing the capabilities of large models to perform reasoning and actions, thus eliminating inaccuracies [2][13] - This technology allows for a transition from auxiliary decision-making to fully autonomous decision-making, significantly improving business efficiency and accuracy [2][14] Case Studies and Results - A notable case involved a provincial energy group that achieved a 95% accuracy rate in testing Yonyou's solutions, leading to a partnership due to superior performance compared to competitors [2][15] - Yonyou's AI system has effectively managed complex financial and business issues, optimizing procurement strategies and reducing costs by 3% to 5% for clients [2][17] Productization and Market Reach - Following successful implementations, Yonyou has productized solutions into an "Enterprise Management Analysis Assistant," which has become a market hit, serving thousands of clients across various business sizes [2][19] - The company has developed various intelligent agents for multinational financial groups, ensuring data accuracy through supervised intelligence [2][20] Competitive Advantages - Yonyou's deep understanding of enterprise management and financial systems allows for precise pre-training of financial indicators, providing a competitive edge in the intelligent agent market [2][21] - The integration of large models with business systems enhances decision execution efficiency, supported by a wealth of proprietary data resources [2][21] Financial Performance - In the first three quarters of 2025, Yonyou reported AI orders exceeding 700 million yuan, with expectations for total annual orders to surpass 1 billion yuan, indicating strong growth in AI-related revenue [2][22]

Core Viewpoint - Yonyou Network, a leading domestic software company, continues to report losses, with projected net losses for 2025 ranging from 1.3 billion to 1.39 billion yuan, marking the third consecutive year of losses since its listing in 2001, totaling over 4 billion yuan in cumulative losses [1] Group 1: Financial Performance - The company expects a net loss attributable to shareholders of 1.3 billion to 1.39 billion yuan for 2025, with a non-GAAP net loss projected between 1.45 billion and 1.54 billion yuan [1] - Yonyou's revenue has shown resilience, growing from 5.113 billion yuan in 2016 to 9.153 billion yuan in 2024, despite a decline in profitability, with a net profit peak of 1.183 billion yuan in 2019 followed by losses starting in 2023 [3] - The latest performance forecast indicates a stabilization in revenue for 2025, expected to be between 9.17 billion and 9.27 billion yuan, with a significant narrowing of losses [3] Group 2: Business Transformation and Strategy - Founded in 1988, Yonyou initially focused on financial software but shifted to ERP solutions in 1998, becoming a market leader by 2002 [2] - The company has been transitioning to cloud services since 2011, rebranding from Yonyou Software to Yonyou Network in 2015, and adopting a SaaS model with the launch of its 3.0 strategy in 2016 [2] - Yonyou is currently advancing its IPO process in Hong Kong to support its global strategy, having submitted its listing application in June 2025 and updated its application materials in December [3]

股票简称：用友网络 股票代码：600588 编号：临 2026-003 用友网络科技股份有限公司 关于股票交易风险提示公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、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责任。 用友网络科技股份有限公司（以下简称"公司"）股票于 2026 年 1 月 9 日、12 日、13 日连续 3 个交易日内日收盘价格涨幅偏离值累计超过 20%，根据《上海证券 交易所交易规则》的有关规定，属于股票交易异常波动的情形。公司已于 2026 年 1 月 14 日在指定信息披露媒体和上海证券交易所网站（www.sse.com.cn）上披露了《用 友网络关于股票交易异常波动的公告》（公告编号：2026-002）。2026 年 1 月 14 日， 公司股票再次涨停。鉴于近期公司股价波动较大，现对有关风险提示如下： 一、二级市场交易风险提示 公司股票于 2026 年 1 月 9 日、12 日、13 日连续 3 个交易日内日收盘价格涨幅 偏离值累计超过 20%，触及异动；2026 年 1 月 14 日，公司当日股票价格再次以涨 停价收盘，公司股价剔除大盘 ...

格隆汇1月14日｜用友网络发布异动公告，公司股票于2026年1月9日、12日、13日连续3个交易日内日收 盘价格涨幅偏离值累计超过20%，根据《上海证券交易所交易规则》的有关规定，属于股票交易异常波 动的情形。公司创立于1988年，是一家企业软件与智能服务提供商，专注于企业与公共组织数智化领 域，为客户提供企业管理与业务运营软件及服务。核心产品用友BIP横向覆盖财务、人力、供应链、采 购、制造、营销、研发、项目、资产、协同十个领域，赋能企业数智化转型与国产系统替换。经公司自 查，公司目前主营业务未发生重大变化，经营活动一切正常，公司业务以及内外部经营环境未发生重大 变化。 ...

用友网络在业绩预告中也说明，2025年度因新一代产品研发形成的无形资产的摊销约12.4亿元，对当期 利润构成一定影响，但对于用友网络建立全球领先的产品竞争力、服务国内客户数智化转型与信创国产 化替代，以及更大规模进军全球企业软件市场都具有重要战略价值。 综合来看，随着营业收入企稳回升、净亏损显著收窄，尤其是经营性现金流实现大幅改善，用友网络已 呈现出经营面持续向好的明确趋势。围绕"客户成功、生态共荣、全球市场；AI至上、产品第一、交付 革新"的发展战略，用友正持续推进企业AI应用创新，发展用友BIP产品，进一步提升市场竞争力，不 断夯实可持续经营与高质量发展的基础。 1月13日晚间，用友网络（600588）科技股份有限公司（股票代码：600588.SH）发布2025年度业绩预 告。数据显示，用友网络预计全年实现营业收入91.70亿元至92.70亿元，实现由负增长转向企稳回正； 归属于母公司所有者的净亏损大幅收窄，同比减亏6.71亿元至7.61亿元。尤为值得关注的是，用友网络 2025年现金流显著改善，预计全年经营活动产生的现金流净额实现净流入7亿元，较2024年改善10亿 元，经营现金保障能力持续提升。 报告 ...

Core Viewpoint - Today, 14 stocks received buy ratings from institutions, with 5 stocks being newly covered by analysts [1] Group 1: Institutional Ratings - A total of 14 buy ratings were issued today, with China National Duty Free and Oriental Yuhong receiving the highest attention, each having one buy rating record [1] - Among the rated stocks, 6 provided future target prices, with 5 stocks showing an upside potential exceeding 10%. China National Duty Free has the highest upside potential at 26.49%, with a target price of 113.90 yuan from Guojin Securities [1] - Other stocks with significant upside potential include Pudong Development Bank and Zhongding Co., with potential increases of 26.25% and 25.65%, respectively [1] - Five stocks received buy ratings for the first time, including Ningde Times and Wanyuantong [1] Group 2: Market Performance - Stocks with buy ratings averaged a 2.12% increase today, outperforming the Shanghai Composite Index. Seven stocks saw price increases, with Yonyou Network hitting the daily limit [1] - The top gainers included Dazhu CNC, Chenguang Biotech, and Wanyuantong, with increases of 12.32%, 5.67%, and 4.09%, respectively [1] - Stocks that experienced significant declines included Pudong Development Bank, China National Duty Free, and Yangtze Power, with decreases of 2.85%, 2.02%, and 2.01%, respectively [1] Group 3: Earnings Performance - Among the stocks rated as buy, two have reported annual earnings forecasts, with Pudong Development Bank and Yangtze Power showing net profit growth rates of 10.52% and 5.14%, respectively [2] - Five stocks have announced annual earnings forecasts, with Chenguang Biotech expected to see the highest net profit growth of 301.38%, followed by Dazhu CNC and Chaohongji with expected growth rates of 177.24% and 150.00%, respectively [2]

| 交易日期 | 证券简称 | 证券代码 | 成交价(元) 成交金额(万元) 成交量( *) 买入营业部 机构专用 | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | 2026-01-14 | 用发网络 | 600588 | . 11 | 209.11 | 19.01 茶商景都曾留契盟 | | | | | | | | | | 卖出营业部 | | | | | | | | Ka | | 是否为专场 | 1月14日，用友网络大宗交易成交11万股，成交额209.11万元，占当日总成交额的0.03%，成交价19.01 元，较市场收盘价19.01元持平。 ...

连续5日或以上主力资金净流入个股排名 （文章来源：证券时报网） 证券时报·数据宝统计，截至1月14日收盘，深沪北共90只个股连续5日或5日以上主力资金净流入。税友 股份等连续14日主力资金净流入，排名第一；合锻智能等连续12日主力资金净流入，位列第二。从主力 资金净流入总规模来看，烽火通信主力资金净流入金额最大，连续6天累计净流入24.34亿元，用友网络 紧随其后，5天累计净流入19.08亿元。从主力资金净流入占成交额的比例来看，美年健康占比排名居 首，该股近5日上涨50.65%。（数据宝） | 605168 | 三人行 | 12 | 4.14 | 6.01 | 33.84 | | --- | --- | --- | --- | --- | --- | | 000875 | 吉电股 | 6 | 3.78 | 8.73 | 19.61 | | | 份 | | | | | | 000538 | 云南白 | 8 | 3.77 | 8.60 | -0.21 | | | 药 | | | | | | 603171 | 税友股 | 14 | 3.62 | 4.61 | 76.40 | | | 份 | | | | | | 6 ...

Group 1 - The A-share market experienced a rise and then a decline, with the Shanghai Composite Index briefly increasing over 1% before turning negative in the afternoon [2] - The AI application sector saw significant growth, with companies like Liou Co., Ltd. achieving six consecutive trading limits in nine days, and others like Shengguang Group and Youyou Network also performing strongly [2] - The Ministry of Industry and Information Technology released a plan for the high-quality development of industrial internet platforms from 2026 to 2028, aiming for over 450 influential platforms and a connection of over 120 million industrial devices by 2028 [2] Group 2 - Huayuan Securities' report emphasizes that AI remains a crucial direction in global industry narratives, focusing on product implementation with revenue-generating applications [3] - Generative AI products are becoming core entry points for information acquisition, leading to a new marketing paradigm that enhances brand visibility and authority in AI-generated responses [3] - The current AI application model is still in its early stages, and companies that are rapidly advancing their strategies should be closely monitored [3]