Group 1 - Software concept stocks showed strong performance, with 360 increasing over 8%, Yonyou Network rising over 4%, and Kingsoft Office and Hang Seng Electronics both up over 3% [1] - Software-related ETFs also experienced gains, with an increase of over 2% [1] Group 2 - Specific ETF performance includes Software 50 ETF at 1.136, up 2.43%, Software ETF at 0.890, up 2.30%, and Software Leader ETF at 0.891, also up 2.30% [2] - Institutions indicate that in the context of increasing global technological competition, the autonomy of basic software is essential for national security and sustainable industrial development [2] - Future prospects for basic software companies include facing higher technical requirements and stronger competitive pressures, but also more market opportunities [2] - The ongoing push for domestic substitution and the deepening of financial services in the industrial chain are expected to help basic software companies transition from "catching up" to "keeping pace" and eventually to "leading," providing solid technical support for China's new industrialization and high-quality development [2]

Core Viewpoint - The software sector is experiencing significant growth, driven by strong performance in the software 50 ETF and the rapid adoption of AI applications in China, indicating a bullish outlook for the industry [1][3][4]. Group 1: Software Sector Performance - The CSI Software Index (H30202) rose by 3.17%, with notable gains from stocks like Shiji Information (10.00%) and 360 (9.99%) [1]. - The Software 50 ETF (159590) increased by 3.34%, reaching a latest price of 1.15 yuan, and has seen a cumulative increase of 11.79% over the past six months [1]. - The latest share count for the Software 50 ETF reached 288 million, marking a one-year high, with a net inflow of 4.47 million yuan recently [3]. Group 2: AI Application Growth - Ant Group's AI assistant Lingguang achieved over 2 million downloads within six days, setting a record for rapid growth in the AI product sector [3]. - Alibaba's AI assistant Qianwen surpassed 10 million downloads in just one week, making it the fastest-growing AI application historically [3]. - These developments highlight China's competitive edge in the global AI market, with significant implications for the software industry [3]. Group 3: External Market Influences - Recent market corrections are attributed to declining expectations for U.S. Federal Reserve interest rate cuts and rising concerns over an AI bubble, yet domestic tech policies support a "slow bull" market for Chinese assets [4]. - Major U.S. tech companies have issued nearly $90 billion in bonds to fund AI infrastructure projects, indicating strong capital investment in AI [4]. - Cloud service providers like Amazon, Microsoft, and Google are significantly increasing capital expenditures on AI-related infrastructure, with Amazon's quarterly spending reaching $35.1 billion, a 55% year-over-year increase [4].

Core Viewpoint - The A-share market has seen a significant rally in AI-related stocks, indicating strong investor interest and potential growth in this sector [1] Group 1: Stock Performance - BlueFocus and Pinggao Group reached the daily limit up of 20% [1] - Guomai Technology, 360 Security Technology, and Shida Group hit the daily limit up of 10% [1] - Hongjing Technology increased by over 8% [1] - Insai Group, Kaile Shares, Tianxiao, and Hand Information rose by more than 7% [1] - Zhejiang Wenhu Internet and Focus Technology gained over 6% [1]

每经AI快讯，11月24日，三六零盘中涨停，涨幅9.99%，成交额超46亿元。 （文章来源：每日经济新闻） ...

（文章来源：每日经济新闻） 每经AI快讯，11月24日，AI应用端涨势扩大，光云科技涨停，值得买涨超10%，福石控股、万兴科技、 开普云、三六零跟涨。 ...

Group 1 - The core viewpoint of the news highlights the strong performance of the AI sector, particularly with the rise of the Zhongzheng AI Theme Index and its constituent stocks, indicating a positive market sentiment towards AI-related investments [1][2] - The Zhongzheng AI Theme Index (930713) has shown an increase of 0.49%, with notable gains from constituent stocks such as Guangxun Technology (up 4.85%) and Sanliu Ling (up 4.84%) [1] - The AI Artificial Intelligence ETF (512930) also experienced a rise of 0.47%, reflecting the overall positive trend in the AI investment landscape [1][2] Group 2 - Nvidia's AI server shipments are expected to accelerate in Q4, indicating a robust demand for AI hardware and a potential surge in the ASIC market, which is likely to benefit the AI-PCB and core computing hardware sectors [2] - The top ten weighted stocks in the Zhongzheng AI Theme Index account for 63.29% of the index, with companies like Zhongji Xuchuang and Xinyi Sheng leading the list, showcasing the concentration of investment in key players within the AI industry [2]

11月22日，北京市朝阳区新的社会阶层人士联谊会（简称朝阳区新联会）第三届第一次会员大会暨换届大会召开。全国政协委员、360集团创始 人、董事长周鸿祎当选第三届新联会会长。 新一届新联会成员所在企业中，高新技术企业、专精特新"小巨人"、独角兽企业80家，凤鸣企业35家，上市企业32家，跨国公司地区总部21家， 从事智能体等AI场景应用企业78家，新业态、高增长企业111家。全国政协委员、360集团创始人、董事长周鸿祎当选第三届新联会会长。 周鸿祎 资料图 图源：视觉中国 供图：朝阳区融媒体中心 "朝阳区新联会在服务朝阳经济发展、打造特色品牌、助力基层治理、参与社会服务等方面积极作为，发挥了重要作用。"朝阳区委统战部相关负 责人介绍说。 ...

Market Overview - The Shanghai Composite Index fell by 0.40% on November 20, with 7 industries experiencing gains, led by construction materials and comprehensive sectors, which rose by 1.40% and 0.87% respectively [1] - The beauty care and coal industries saw the largest declines, with drops of 2.39% and 2.10% respectively [1] - The computer industry also declined by 0.89% [1] Capital Flow Analysis - The main capital outflow from the two markets totaled 47.655 billion yuan, with 4 industries seeing net inflows [1] - The banking sector led the net inflow with 2.188 billion yuan, resulting in a 0.86% increase [1] - The telecommunications sector followed with a net inflow of 1 billion yuan and a daily increase of 0.51% [1] - A total of 27 industries experienced net capital outflows, with the power equipment sector leading at 9.059 billion yuan, followed by the electronics sector at 5.582 billion yuan [1] Computer Industry Specifics - The computer industry saw a net outflow of 4.597 billion yuan, with 336 stocks in the sector [2] - Out of these, 99 stocks increased, with 3 hitting the daily limit, while 236 stocks declined [2] - The top net inflow stocks included Changshan Beiming with 368 million yuan, Junyi Digital with 195 million yuan, and Huasheng Tiancai with 165 million yuan [2] - The top net outflow stocks were Inspur Software, 360, and Kingsoft, with outflows of 516 million yuan, 409 million yuan, and 322 million yuan respectively [2][4] Top Gainers in Computer Industry - Notable gainers included: - Changshan Beiming: +3.62%, turnover rate 10.26%, net inflow 368.38 million yuan - Junyi Digital: +14.27%, turnover rate 35.78%, net inflow 195.46 million yuan - Huasheng Tiancai: +3.00%, turnover rate 39.23%, net inflow 165.25 million yuan [2] Top Losers in Computer Industry - Significant losers included: - Inspur Software: -5.58%, turnover rate 45.73%, net outflow 515.71 million yuan - 360: -4.55%, turnover rate 4.05%, net outflow 409.47 million yuan - Kingsoft: -3.38%, turnover rate 1.38%, net outflow 321.67 million yuan [4]

Core Viewpoint - The stock of 360 Security Technology Co., Ltd. has experienced fluctuations, with a current price of 13.30 CNY per share and a market capitalization of 93.094 billion CNY, reflecting a year-to-date increase of 31.03% [1] Financial Performance - For the period from January to September 2025, the company achieved a revenue of 6.068 billion CNY, representing a year-on-year growth of 8.18%, while the net profit attributable to shareholders was -122 million CNY, showing a significant year-on-year increase of 78.88% [2] - Cumulative cash dividends since the A-share listing amount to 3.535 billion CNY, with 2.1 billion CNY distributed over the past three years [3] Shareholder Information - As of September 30, 2025, the number of shareholders is 339,300, a decrease of 14.34% from the previous period, with an average of 20,630 circulating shares per shareholder, an increase of 16.75% [2] - The top ten circulating shareholders include Hong Kong Central Clearing Limited, holding 134 million shares, and various ETFs, all of which have seen a reduction in holdings compared to the previous period [3] Stock Market Activity - The stock has seen a trading volume of 1.488 billion CNY with a turnover rate of 1.58%, and there has been a net outflow of 114 million CNY in principal funds [1] - The stock has appeared on the "Dragon and Tiger List" three times this year, with the most recent occurrence on November 3 [1] Business Overview - 360 Security Technology Co., Ltd. specializes in internet security technology research and development, with its main business revenue composition being 92% from internet and smart hardware, 6.63% from security services, and 1.37% from other services [1] - The company operates within the software development sector, focusing on various concepts including AI, EDR, situational awareness, ChatGPT, and blockchain [2]

Core Insights - A recent technical report by the endpoint security company Huorong has identified nearly 30 domestic software applications suspected of traffic hijacking and malicious promotion [2] - The report particularly highlights the well-known software "Ludashi," which allegedly deceives users by setting fake close buttons during game advertisement promotions and third-party plugin downloads [2] - Ludashi is also accused of inserting rebate parameters into links on platforms like JD.com and Baidu, extracting a commission from users' natural searches [2] - The report has caused significant concern within the cybersecurity community, not only due to the involvement of a prominent security software but also for revealing strategies to evade regulation [2] - The software reportedly monitors users' online activities, such as visits to technical forums and the 12315 complaint website, and social media interactions with figures like Zhou Hongyi, the chairman of 360 [2] - If users are identified as knowledgeable rather than "computer novices," the software can cease promotions at any time [2] - As of the report's publication, both Ludashi and 360 have not provided comments, while Huorong has opted not to conduct interviews but is willing to respond to inquiries through official statements [2]