三六零 20251118 如何看待未来计算机应用领域的发展？ 我们认为需要站在 2026 年的视角评估计算机应用领域的发展。首先，从业绩 角度来看，今年三季度表现较好，不少公司超出预期。预计四季度及明年 360 公司 2020-2024 年营收下降后，2025 年连续三季度营收增速为 正，得益于传统互联网业务回升和 C 端收入贡献增加。战略调整亏损智 能硬件业务。 360 公司 2024 年毛利率达 66.1%，同比提升 5 个百分点，主要由于低 毛利业务下滑，高毛利 AI 办公业务增长。预计 2025-2027 年收入增速 在 10%左右，2025 年有望扭亏为盈，维持强推评级。 （2026 年）的业绩将有一定延续性。因此，我们认为龙头公司的局部修复是 一个重要变量。此外，我们更侧重于择股而非择时，在底部位置参与并等待市 场带来的机会。在当前市场关注度不高时买入便宜股票是核心投资观点。 摘要 计算机应用领域需以 2026 年视角评估，三季度业绩超预期，预计四季 度及明年业绩延续，龙头公司局部修复是重要变量，当前核心投资策略 是择股而非择时，底部买入便宜股票。 360 公司传统互联网广告业务受益于 AI 发展 ...

近日，一款二次元放置卡牌游戏《时隙之旅》宣告即将停运下架。不太寻常的是，游戏在今年7月才刚刚上线，从上线运营到发布停运公告，仅过了三个 多月。 这款游戏由360发行，而且是由360旗下的星曜工作室自研的。游戏自上线起在iOS就是清榜状态，直到两个月后才有排名，看起来成绩并不好。 仔细回想起来，360的名字已经很久没有在游戏行业引发大范围的关注了。 早在2018年，周鸿祎就提出「应该真正重视」游戏业务。公司建立起了自研品牌「360游戏艺术」，在北、上、广、深四地各设立了一个事业部，共聚集 起数百名研发人员，并且给了各个事业部相当大的自主决策权。 然而折腾了几年后，公司的自研业务仍然没有什么亮眼的成果。在近两年的财报里，360已经很少提及游戏自研业务了，基本是一笔带过。其实自研业务 一直在推进，只是目前还没有拿得出手的案例。近年来，360游戏业务的收入一直处于缓降的状态。 眼看互联网巨头们纷纷入局游戏业务、又一个接一个地掀起了声浪，明明手握可观用户量的360却一直难以找到突破。除了版号、疫情等客观影响之外， 方向上可能也出了问题。 好在到了今年，360似乎终于等来了自己的新机会。 移动端已丧失优势 《Paw Ma ...

成分股方面，石基信息涨停，北方华创、朗新集团、三六零涨幅居前。新宙邦跌11.22%领跌成分股，天赐材料、多氟多、璞泰来跌停。 （文章来源：新华财经） 新华财经北京11月18日电 （王媛媛）新华500指数（989001）11月18日收盘报5043.65点，跌幅0.74%。 走势上看，新华500指数（989001）18日小幅调整。指数盘中最高触及5086.81点，最低触及5025.79点，成分股全天总成交额报5789亿元。 ...

Group 1 - The 2025 AI+ Conference recognized 360 Group's founder Zhou Hongyi as a senior advisor to the AI Hundred Association, highlighting the company's achievements in the AI sector [1] - 360 Group's "Nano AI" was selected as an "AI100 Application Benchmark," showcasing its significant contributions to the AI industry [1][2] - The conference emphasized that scenario-driven approaches are essential for igniting new productive forces in "AI+" and featured companies selected from over 1,000 nationwide [2] Group 2 - The inclusion of Nano AI in the benchmark list signifies the authoritative recognition of its multi-agent swarm technology, which enhances collaborative efficiency in complex processes [4] - Nano AI transitions from merely executing commands to delivering results, functioning like an expert to coordinate multiple AI assistants for complex tasks [4] - 360 Group is integrating advanced intelligent agent technologies into an enterprise-level platform aimed at empowering various industries and enhancing the integration of AI with business scenarios [5]

Core Viewpoint - The stock of 360 Security Technology Co., Ltd. has shown significant growth this year, with a year-to-date increase of 36.26% and a recent surge in trading activity, indicating strong market interest and potential investment opportunities [1][2]. Financial Performance - For the period from January to September 2025, 360 achieved a revenue of 6.068 billion yuan, reflecting a year-on-year growth of 8.18%. However, the net profit attributable to shareholders was -122 million yuan, which represents a substantial increase of 78.88% compared to the previous year [2]. Stock Market Activity - As of November 18, 360's stock price was 13.83 yuan per share, with a trading volume of 4.043 billion yuan and a turnover rate of 4.27%. The total market capitalization reached 96.804 billion yuan [1]. - The stock has experienced notable fluctuations, with a 6.38% increase over the last five trading days and a 33.24% increase over the last 20 days [1]. Shareholder Information - As of September 30, 2025, the number of shareholders decreased to 339,300, a reduction of 14.34%. The average number of circulating shares per person increased by 16.75% to 20,630 shares [2]. - The top ten circulating shareholders include significant institutional investors, with notable reductions in holdings for several ETFs [3]. Business Overview - 360 Security Technology Co., Ltd. specializes in internet security technology development, product design, and commercialization services, with 92% of its revenue coming from internet and smart hardware businesses [1]. - The company is categorized under the computer software development industry and is involved in various concept sectors, including EDR, AI corpus, and ChatGPT [2]. Dividend Distribution - Since its A-share listing, 360 has distributed a total of 3.535 billion yuan in dividends, with 2.1 billion yuan distributed over the past three years [3].

Group 1 - The AI application concept is gaining strength in the market, with the CSI Computer Theme Index rising by 0.91% on November 17, and stocks like 360 and Tuowei Information seeing significant gains [1] - The Computer ETF (159998) recorded a trading volume exceeding 62 million yuan, making it the top performer among similar funds, with a net inflow of over 35 million yuan in the last two days [1] - The CSI Hu-Kong-Shen Cloud Computing Industry Index increased by 1.68%, with stocks such as Dongfang Guoxin and Huasheng Tiancai rising over 10% [1] Group 2 - Major funds are flowing into sectors like computers, energy metals, and national defense, while the pharmaceutical sector saw a net outflow exceeding 9.3 billion yuan [2] - The launch of China's first integrated computing power scheduling and monitoring platform in Jiangsu marks a significant development, connecting 282 data centers and covering 520,000 standard racks [2] - CITIC Securities indicates that the demand for computing power driven by AI remains strong, suggesting that recent adjustments in the computing power sector present investment opportunities [2] - Open Source Securities highlights significant progress in domestic AI across computing power, large models, and applications, reshaping the global competitive landscape and maintaining a positive outlook on domestic AI investment opportunities [2]

沪深股通今日合计成交2130.01亿，其中工业富联和宁德时代分居沪股通和深股通个股成交额首位。板块主力资金方面，计算机板块主 力资金净流入居首。 ETF成交方面，日经225ETF（513 880）成交额环比增长338%。期指持仓方面，IF合约多头加仓数量大于空头。 龙虎榜方面， 中矿资源遭三家机构卖出3.68亿 ，同时获一家机构买入1.06亿，一家量化席位（开源证券西安西大街）买入8110万。永 太科技遭三家机构卖出1.42亿。盛新锂能遭两家机构卖出8016万，同时获一家机构买入3148万，一家实力游资席位（国泰海通证券上 海新闸路）买入7975万。雅化集团获四家机构买入1.86亿，四家机构卖出1 .44亿。 一、沪深股通前十大成交 今日沪股通总成交金额为1004. 13亿，深股通总成交金额为1125 .87亿。 | | 沪股道( | 11月17日 | ) | | | --- | --- | --- | --- | --- | | 指 | 股票代码 | 股票名称 | | 成交金额(亿元) | | 1 | 601138 | 工业富联 | | 21.09 | | 2 | 603986 | 兆易创新 | | 12. ...

计算机行业今日上涨1.67%，全天主力资金净流入72.11亿元，该行业所属的个股共335只，今日上涨的 有273只，涨停的有13只；下跌的有56只。以资金流向数据进行统计，该行业资金净流入的个股有182 只，其中，净流入资金超亿元的有19只，净流入资金居首的是三六零，今日净流入资金15.67亿元，紧 随其后的是华胜天成、中电鑫龙，净流入资金分别为12.85亿元、9.10亿元。计算机行业资金净流出个股 中，资金净流出超5000万元的有8只，净流出资金居前的有海康威视、同花顺、德赛西威，净流出资金 分别为2.67亿元、1.76亿元、1.14亿元。（数据宝） 沪指11月17日下跌0.46%，申万所属行业中，今日上涨的有17个，涨幅居前的行业为计算机、国防军 工，涨幅分别为1.67%、1.59%。计算机行业位居今日涨幅榜首位。跌幅居前的行业为医药生物、银 行，跌幅分别为1.73%、1.31%。 资金面上看，两市主力资金全天净流出319.53亿元，今日有6个行业主力资金净流入，计算机行业主力 资金净流入规模居首，该行业今日上涨1.67%，全天净流入资金72.11亿元，其次是国防军工行业，日涨 幅为1.59%，净流入资金 ...

两市全天特大单净流出148.89亿元，其中32股特大单净流入超2亿元，三六零特大单净流入16.57亿元， 特大单净流入资金居首。 沪指今日收盘下跌0.46%。资金面上看，沪深两市全天特大单净流出148.89亿元，共计1854股特大单净 流入，2950股特大单净流出。 从申万一级行业来看，今日有7个行业特大单资金净流入，计算机特大单净流入规模居首，净流入资金 69.80亿元，该行业指数今日上涨1.67%，其次是国防军工，今日上涨1.59%，净流入资金为26.10亿元， 净流入资金居前的还有基础化工、传媒等行业。 | 代码 | 简称 | 收盘价（元） | 涨跌幅（%） | 特大单净流入（亿元） | 行业 | | --- | --- | --- | --- | --- | --- | | 601360 | 三六零 | 13.52 | 10.01 | 16.57 | 计算机 | | 600410 | 华胜天成 | 19.42 | 10.03 | 12.68 | 计算机 | | 601606 | 长城军工 | 53.55 | 10.00 | 12.06 | 国防军工 | | 300058 | 蓝色光标 | 8.69 | ...

军工板块盘中强势拉升，截至收盘，红相股份、中富通、江龙船艇、腾景科技等20%涨停，北方长龙 （301357）逼近涨停，长城军工（601606）、雅化集团（002497）等亦涨停。 | 代码 名称 | � | 涨幅% | 现价 | 涨跌 | 采价 | 卖价 | 总量 | | --- | --- | --- | --- | --- | --- | --- | --- | | 300427 红相股份 | | 20.03 | 8.69 | 1.45 | 8.69 | | ae3066 | | 300560 中富通 | | 20.02 | 22.54 | 3.76 | 22.54 | - | 203295 | | 300589 江龙船艇 | R | 20.01 | 16.31 | 2.72 | 16.31 | l | 106.37 | | 300659 中学 章 | | 20.00 | 17.82 | 2.97 | 17.82 | - | 357330 | | 688195 腾景科技 | K | 20.00 | 135.61 | 22.60 | 135.61 | - | 160807 | | 301357 北方长龙 | ...