进一步统计，近3个月内该股累计发生2笔大宗交易，合计成交金额为430.66万元。该股近5个交易日累 计上涨9.60%，主力资金合计净流出7734.94万元。 责任编辑：小浪快报 炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 12月18日，电科数字收涨2.11%，收盘价为29.46元，发生1笔大宗交易，合计成交量8万股，成交金额 221.52万元。 第1笔成交价格为27.69元，成交8.00万股，成交金额221.52万元，溢价率为-6.01%，买方营业部为华泰 证券股份有限公司扬州文昌中路证券营业部，卖方营业部为东莞证券股份有限公司上海广东路证券营业 部。 ...

12月18日，电科数字大宗交易成交8万股，成交额221.52万元，占当日总成交额的0.33%，成交价27.69 元，较市场收盘价29.46元折价6.01%。 ...

格隆汇12月18日丨电科数字(600850.SH)在投资者互动平台表示，公司暂未涉及火箭相关业务。 公司控 股股东电科数字集团（32所）主要为火箭提供相关软硬件产品，今年以来已参与发射任务29次，历史累 计参与发射任务292次，为各项发射任务的圆满完成作出了关键性贡献。 ...

Core Viewpoint - Taiji Co., Ltd. (002368) provides cloud and data services, proprietary software products, industry solutions, and digital infrastructure, focusing on sectors such as government, smart cities, public safety, and enterprises [1] Business Overview - The main business areas of the company include cloud and data services, proprietary software products, industry solutions, and digital infrastructure [1] - The business focus of Electric Science and Technology Digital (600850) differs significantly from that of Taiji Co., Ltd. in their respective key regions and industry segments [1]

Core Viewpoint - The company, Electric Science Digital (600850), highlighted its focus on satellite internet, specifically in providing high-performance computing, AI intelligence, and RF transmission products through a high-speed communication architecture for collaborative computing [1] Group 1: Company Overview - Electric Science Digital is actively engaged in the satellite internet sector [1] - The company offers three main product categories: onboard high-performance computing, AI intelligence computing, and RF transmission [1] Group 2: Industry Insights - The satellite internet field is characterized by the integration of high-speed communication architectures to enable collaborative computing [1]

Core Viewpoint - The announcement highlights the advancements and successful orders achieved by Beifly Electronics in the satellite communication and maritime sectors, indicating growth potential in these areas [1] Group 1: Satellite Communication - Beifly Electronics has expanded its product capabilities in intelligent computing and onboard communication [1] - The company has successfully secured orders worth several million yuan for its products in the satellite communication field [1] Group 2: Maritime Sector - Beifly Electronics' products and technologies are widely applied in the maritime sector [1] - The company is actively developing unmanned devices, with intelligent computing products being utilized in the autonomous navigation of unmanned ships [1]

Summary of Key Points from the Conference Call Company and Industry Overview - The conference call primarily discusses **博飞电子 (Bofei Electronics)**, a subsidiary of **电科数字 (Electronics Science and Technology Digital)**, focusing on the **commercial aerospace** sector and its involvement in national-level space computing verification projects [2][3][5]. Core Products and Applications - 博飞电子 is engaged in providing **high-performance computing cards**, **AI chip cards**, and **RF cards** for space computing needs, with a project value of approximately **1 million yuan** [2][6]. - The company is developing an **AI training server** that connects these cards through a high-speed communication architecture to meet computational demands in space [2][18]. - The main products in the commercial aerospace sector include **high-performance computing**, **AI cloud computing**, and **RF equipment**, which are currently undergoing acceptance testing [3][5]. Competitive Advantages and Technology - 博飞电子's core competitive edge lies in its **high security and reliability** in design, leveraging experience from serving specialized industries [19]. - The AI chips used in their products are sourced from **domestic mainstream manufacturers**, ensuring stability and controllability in project execution [20]. Future Development and Strategic Focus - The company aims to achieve **productization** of its devices for satellites and is focusing on **low Earth orbit** applications, including testing equipment and ground computing devices [9][29]. - 博飞电子 is also exploring opportunities in the **commercial aerospace ecosystem** and is actively participating in projects related to the **cyber space forces** [30]. Collaborations and Partnerships - 博飞电子 collaborates with a research institute and 星网 (StarNet) for the national project, with the final operational application being managed by 星网 [7][28]. - The company has received **diamond distributor certification** from Huawei for its subsidiary 华信网络 (Huaxin Network), enabling it to sell and service a full range of products with **384 nodes**, which is expected to significantly enhance revenue [25][27]. Market Position and Financial Outlook - The partnership with Huawei is projected to generate approximately **3 billion yuan** annually, with initial gross margins expected to be higher than previous levels, indicating a favorable financial outlook [27]. - 博飞电子 is also developing its own brand products to improve profit margins beyond just server sales [27]. Additional Insights - The company is involved in the **development of various unmanned devices**, including large drones and small loitering munitions, although specific details are confidential [33]. - 博飞电子's engagement in the **network space forces** aligns with its existing technological capabilities, suggesting a strong future demand in this area [30][32]. This summary encapsulates the key points discussed in the conference call, highlighting 博飞电子's strategic initiatives, product offerings, competitive advantages, and future growth prospects in the commercial aerospace sector.

Group 1: Commercial Aerospace - SpaceX plans to conduct an IPO in 2026, aiming to raise several billion dollars, marking a new phase of commercialization and capitalization in the commercial aerospace industry [3] - China's recent successful launch of multiple satellites demonstrates its growing capabilities in space exploration, with an increasing frequency of launches expected to drive exponential growth in orders for upstream suppliers [3][4] - Companies like Guanglian Aviation are positioned to benefit significantly from the anticipated increase in commercial rocket launches, with potential revenue growth reaching tens of billions [4] Group 2: AI and Server Technology - The demand for AI computing power is escalating, with power consumption for AI models increasing significantly, leading to a shift from traditional air cooling to liquid cooling solutions [6] - Companies with rare certification for liquid cooling solutions are expected to see a revaluation of their worth due to the high technical barriers and increased average selling prices [6] - The AI server supply chain is evolving, with investments shifting towards companies that possess high technical barriers and rare certifications, which will likely enjoy valuation premiums [6][9] Group 3: Humanoid Robots - Tesla's Optimus has initiated the supplier review process, indicating that humanoid robots are on the verge of mass production, with Chinese companies expected to surpass Tesla in production scale by 2026 [7] - Key components such as lightweight materials and advanced sensors are critical for the development of humanoid robots, with companies like Ningbo Huaxiang collaborating on innovative materials [8][10] - Investment strategies should prioritize core components over complete systems, focusing on companies with high technical barriers and established supply chains [11] Group 4: Semiconductor Industry - The demand for high-bandwidth memory (HBM) is surging due to AI chip requirements, prompting a rapid evolution in HBM technology and a focus on domestic production capabilities [12] - Companies like Huahai Chengke are positioned to capture significant market share in the HBM materials sector, with potential revenues reaching 3 billion yuan [14] - The semiconductor investment landscape is shifting towards companies that can achieve substantial breakthroughs and secure orders in high-demand areas like HBM and advanced packaging [12] Group 5: Energy Sector - The energy market is experiencing a transition, with gas turbines expected to maintain strong demand through 2035, benefiting companies like Yingliu [15] - Nuclear fusion technology is advancing, with Chinese teams making significant progress, positioning companies like China Uranium Industry as future leaders in energy solutions [16] - Investment strategies should focus on both immediate opportunities in gas turbines and long-term potential in nuclear fusion technologies [16] Group 6: Optical Communication - The optical communication sector is transitioning from 800G to 1.6T technology, significantly increasing the demand for core materials like indium phosphide [17] - Companies that have achieved breakthroughs in domestic production of critical components for optical modules are expected to benefit from industry growth and market share increases [17][21] - Investment in optical communication should align with the dual themes of speed upgrades and domestic substitution [17] Group 7: Macro Variables - The Federal Reserve's recent interest rate cut is expected to create a more favorable liquidity environment for growth-oriented technology stocks, particularly those sensitive to interest rates [18][22] - The anticipated improvement in financing conditions will support technology companies in sectors like commercial aerospace, AI, and robotics that require substantial R&D investments [22] - Investors should focus on identifying companies with real technological barriers and clear growth paths in the evolving landscape of hard technology [23]

（文章来源：证券日报） 证券日报网讯 12月11日，电科数字在互动平台回答投资者提问时表示，截至2025年12月10日，公司股 东数为38841户。 ...

证券日报网讯12月9日，电科数字（600850）在互动平台回答投资者提问时表示，公司以"环境感知-认 知决策-控制执行-交互反馈"全链路技术闭环为核心，融合GIS、知识图谱、多维AI能力等自研技术，实 现人形机器人从硬件感知到服务落地的全链条赋能，助力银行实现智能化转型，相关解决方案已在某头 部银行落地。 ...