证券代码：603019 证券简称：中科曙光 公告编号：2025-033 曙光信息产业股份有限公司 股东减持股份结果公告 本公司董事会、全体董事及相关股东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法律责任。 重要内容提示： ? 大股东持股的基本情况：截至本公告披露日，股东北京中科算源资产 管理有限公司（以下简称"中科算源"）持有曙光信息产业股份有限公 司（以下简称"中科曙光"或"公司"）无限售条件流通股 214,793,948 股，占公司总股本的 14.68%。 ? 减持计划的实施结果情况：根据公司已披露的减持股份计划（详见公 司公告：2025-001），为自身发展需要，中科算源拟自 2025 年 2 月 11 日至 2025 年 5 月 11 日期间通过大宗交易方式减持股份不超过公司总 股本的 2%，即不超过 29,264,075 股。截止本公告日，本次减持计划实 施期限届满，中科算源通过证券交易系统以大宗交易方式减持公司股 份 24,594,333 股，占公司总股本的 1.68%。 一、减持主体减持前基本情况 股东名称 北京中科算源资产管理有限公司 控 ...

证券代码：603019 证券简称：中科曙光 公告编号：2025-033 曙光信息产业股份有限公司 股东减持股份结果公告 本公司董事会、全体董事及相关股东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法律责任。 重要内容提示： 1 一、减持主体减持前基本情况 股东名称 北京中科算源资产管理有限公司 股东身份 控股股东、实控人及一致行动人 √是 □否 直接持股 5%以上股东 √是 □否 董事、监事和高级管理人员 □是 √否 其他：持有公司首次公开发行前发行股份的股东 持股数量 239,388,281股 持股比例 16.36% 大股东持股的基本情况：截至本公告披露日，股东北京中科算源资产 管理有限公司（以下简称"中科算源"）持有曙光信息产业股份有限公 司（以下简称"中科曙光"或"公司"）无限售条件流通股 214,793,948 股，占公司总股本的 14.68%。 减持计划的实施结果情况：根据公司已披露的减持股份计划（详见公 司公告：2025-001），为自身发展需要，中科算源拟自 2025 年 2 月 11 日至 2025 年 5 月 11 日期间通过大宗交易方式 ...

1. Report Industry Investment Rating No information provided in the given content. 2. Core Views of the Report - The bond market has entered a volatile period without obvious drivers. The short - term impact of the current economic fundamentals on the bond market is limited, and the short - end has fully reacted to the loose funds. The stock - bond seesaw effect is not significant [1][2]. - After the interest rate cut, although the short - end benefits may gradually spread to the long - end, the 10 - year bond has no significant downward space. The bond market has entered a spread - mining market [3]. - In terms of different maturities, the rotation pattern of government bonds from short - end to medium - end to ultra - long - end is obvious. In terms of different categories, attention should be paid to the catch - up opportunities of other varieties after the high - liquidity varieties take the lead [4][5]. 3. Summaries According to the Table of Contents 3.1 Bond Market Enters a Volatile Period without Obvious Drivers - **Fundamentals**: The economic data in April is divergent. Exports are still strong, but the PMI reflects a downward expectation. The second - quarter fundamentals may face some disturbances, and the short - term impact on the bond market is limited [1]. - **Monetary Policy**: The favorable monetary policy has been implemented, and the funds are loose. The short - end has fully reacted, and the subsequent downward breakthrough of funds still needs to be observed [1]. - **Equity Market**: After the double - cut this time, the equity market has performed steadily, and the stock - bond seesaw effect is not significant [2]. 3.2 Bond Market Strategy: How to Compress Spreads in the Volatile Period? - Although the short - end benefits may spread to the long - end, the 10 - year bond has no significant downward space. The previous low may be an important resistance level [3]. - In terms of different maturities, government bonds show a rotation pattern from short - end to medium - end to ultra - long - end. In terms of different categories, attention should be paid to the catch - up opportunities of other varieties after the high - liquidity varieties take the lead [4][5]. 3.3 Interest - Rate Bond Market Review: After the Reserve Requirement Ratio and Interest Rate Cuts, the Yield Curve Steepens - **Funding**: The central bank's OMO has a large - scale net withdrawal, and the funding is balanced and loose [8]. - **Primary Issuance**: The net financing of government bonds and inter - bank certificates of deposit has increased, while that of policy - bank bonds and local government bonds has decreased [8]. - **Benchmark Changes**: The term spreads of government bonds and CDB bonds have both widened [8].

2025年一季报业绩进一步印证了算力产业链的高景气程度，特别是国产算力核心企业，净利润普遍大幅 增长，这反映了算力市场的旺盛需求。在业界人士看来，国产算力正处于政策利好持续释放、市场需求 爆发、技术创新突破、业绩开始兑现四重共振的关键节点，其价值实现的奇点正加速到来。 政策红利持续释放 政策作为产业发展的"方向盘"和"助推器"，在推动国产算力崛起的过程中，发挥着不可或缺的关键作 用。 2020年4月，中共中央、国务院印发《关于构建更加完善的要素市场化配置体制机制的意见》，"数 据"作为一种新型的生产要素首次被列入。2020年底，国家发展改革委等部门发布《关于加快构建全国 一体化大数据中心协同创新体系的指导意见》，提出到2025年，全国范围内数据中心形成布局合理、绿 色集约的基础设施一体化格局。 2021年5月，《全国一体化大数据中心协同创新体系算力枢纽实施方案》确定了在京津冀、长三角、粤 港澳大湾区、成渝，以及贵州、内蒙古、甘肃、宁夏等地布局建设全国一体化算力网络国家枢纽节点， 提出加快实施"东数西算"工程。2021年12月到2022年2月，"东数西算"涉及的8个国家算力枢纽节点和10 个国家数据中心集群全部 ...

Core Insights - The article highlights that Zhongke Shuguang's DeepAI intelligent engine has successfully passed a joint evaluation by the China Academy of Information and Communications Technology, Tair Laboratory, and the Foundry Plan, becoming the first end-to-end AI acceleration suite to receive this certification in the industry [1] - The DeepAI engine's DAP (AI Application Platform) is recognized for its comprehensive functionality, business security, technological advancement, and operational stability, positioning it as a leader in the industry [1] Group 1: Product Features - The DAP platform adheres to the "out-of-the-box, secure and controllable" philosophy, integrating deeply with domestic GPU acceleration cards to provide a full-stack solution for large model application development [1] - Key capabilities of the DAP platform include dialogue services, RAG knowledge base, and Agent intelligence, along with enterprise-level features such as SSO, fine-grained permissions, and comprehensive auditing [1] Group 2: Market Applications - The DAP platform has been successfully deployed in various clients, including Bank of China, Beijing Aerospace General Hospital, Nanjing University of Aeronautics and Astronautics, and Shenzhen Discipline Inspection Commission, demonstrating the superior support capabilities of domestic AI computing hardware and software for complex large model tasks [3] - The platform addresses challenges in IT operations management by providing a cost-effective and efficient solution for knowledge management, particularly in industries like finance and healthcare where the quality of product requirement documents (PRD) is critical [2][3] Group 3: Future Developments - Following the certification from the China Academy of Information and Communications Technology, the company plans to continuously iterate on the DeepAI intelligent engine, focusing on enhancing product functionality in line with actual scene requirements and integrating deeply with client datasets and business processes [3] - The company aims to collaborate with more ecosystem partners to further enhance the competitive edge of domestic AI computing hardware and software [3]

3. 防御板块的托底作用：如果市场冲高回落，黄金、高股息（比如电力、银行）这些避险品种可能出来护盘。最近国际局势有点波动，中东那边没消停，黄 金的避险属性值得关注。 操作策略上，分两类： 各位老铁们，我是你们的老朋友帮主郑重。五一假期刚过，市场就等着明天（5月6日）的第一个交易日了。今天咱们不整虚的，直接上干货，聊聊节后首日 A股会不会发红包，以及该怎么应对。 先说结论：明天大概率会高开，但能不能稳住红包，还得看量能和主力态度。 先看外围市场给的"红包皮"。五一假期期间，美股三大指数集体上涨，纳斯达克周涨幅近5%，港股更是气势如虹，恒生科技指数涨了7%多。人民币汇率也 硬气了一把，离岸人民币升破7.20关口，外资回流的迹象明显。这些利好对A股来说，就像节后收的"开工利是"，情绪上肯定有提振。 不过，高开之后能不能高走，得看A股自己的"底气"。节前最后一个交易日，上证指数收在3279点，创业板涨了0.83%，但成交量没跟上，两市加起来不到 1.3万亿。这说明市场有点"犹豫"，主力资金还在观望。明天如果开盘30分钟里，成交量能冲到1500亿以上，那全天可能稳住；要是缩量，高开低走的风险 就大了。 再拆解今天的关键 ...

Financial Performance - The company's operating revenue for Q1 2025 was CNY 2,586,233,304.50, representing a 4.34% increase compared to CNY 2,478,641,535.71 in the same period last year[4] - Net profit attributable to shareholders increased by 30.79% to CNY 186,472,838.24 from CNY 142,577,605.46 year-on-year[4] - The basic earnings per share rose by 30.61% to CNY 0.128 from CNY 0.098 in the previous year[4] - Total profit for Q1 2025 was ¥232,323,413.96, up from ¥209,201,041.21 in Q1 2024, marking an increase of 11.05%[21] - Other comprehensive income after tax for Q1 2025 was ¥4,983,323.27, compared to a loss of ¥1,741,321.08 in Q1 2024[21] Cash Flow - Cash flow from operating activities showed a net outflow of CNY 1,117,741,866.55, compared to a net outflow of CNY 493,551,141.49 in the previous year, indicating a significant increase in cash outflow[4] - Total cash inflow from operating activities for Q1 2025 was ¥5,194,521,683.02, an increase from ¥3,659,402,093.13 in Q1 2024[23] - Total cash outflow from operating activities for Q1 2025 was ¥6,312,263,549.57, compared to ¥4,152,953,234.62 in Q1 2024[23] - The ending cash and cash equivalents balance decreased to $4.75 billion from $6.34 billion, a decline of approximately 25.0%[24] - Total cash and cash equivalents decreased by $1.52 billion during the period, compared to a decrease of $774.69 million in the prior period[24] Assets and Liabilities - Total assets decreased by 1.88% to CNY 35,930,290,716.83 from CNY 36,617,491,563.87 at the end of the previous year[5] - The company's current assets decreased to RMB 12,636,705,803.81 from RMB 13,986,714,455.67, reflecting a decline of approximately 9.7%[15] - The total liabilities of the company decreased to RMB 14,817,885,780.74 from RMB 15,290,643,033.33, a reduction of about 3.1%[17] - The company's total equity stood at RMB 21,112,404,936.09, slightly down from RMB 21,326,848,530.54, reflecting a decrease of approximately 1.0%[17] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 377,310[12] - The top shareholder, Beijing Zhongke Sanyuan Asset Management Co., Ltd., holds 239,388,281 shares, accounting for 16.36% of the total shares[12] Investment and Expenses - The company reported a significant increase in investment income by 89.36%, primarily due to increased profits from joint ventures[10] - Research and development expenses for Q1 2025 amounted to ¥390,306,528.12, an increase of 7.52% from ¥363,343,338.86 in Q1 2024[20] - Cash outflow for financing activities totaled $240.33 million, up from $121.03 million, indicating an increase of 98.8%[24] Other Financial Metrics - The weighted average return on equity increased by 0.15 percentage points to 0.91% from 0.76%[5] - The company's inventory decreased to RMB 3,198,462,014.55 from RMB 3,858,528,097.75, a decline of about 17.1%[16] - The company reported a significant increase in other receivables, which rose to RMB 308,322,608.36 from RMB 59,286,971.24, marking an increase of approximately 419.5%[15] - The company has not reported any significant changes in its shareholder structure or related party transactions during the reporting period[13] - The company plans to implement new accounting standards starting in 2025, which may affect the financial statements[24]

Report Industry Investment Rating The provided content does not mention the report industry investment rating. Core Viewpoints of the Report - The escalation of the tariff event has accelerated the process of self - controllability in key areas. China is using "independent innovation" to drive "import substitution" and upgrading the high - end manufacturing supply chain [2]. - The semiconductor, computer, AI, and military industries are expected to benefit from the trend of self - controllability. The semiconductor industry is in an upward cycle, the computer industry is gradually recovering, the AI industry has more development opportunities, and the military industry shows strong resilience [7]. - Some convertible bonds, such as Xingfa Convertible Bond, Weil Convertible Bond, Daotong Convertible Bond, and Kelan Convertible Bond, are worthy of key attention [9]. Summary According to the Directory 1. Breakthrough and Establishment: Accelerated Implementation of Self - Controllability in Key Areas 1.1 Tariff Event Review - In early April 2025, the Sino - US tariff event escalated. The US continuously increased tariffs on Chinese goods, and China took counter - measures. The event objectively accelerated the process of domestic substitution [15]. 1.2 Semiconductor Industry - The self - autonomy process of the Chinese semiconductor industry has accelerated. China is considering strengthening cooperation with other regions to diversify the supply chain, but the key lies in independent innovation. The "integrated circuit origin rule" promotes the transfer of the industrial chain to the domestic market [19][20]. - In terms of semiconductor materials, China is trying to break through the import dependence on key materials such as CMP polishing materials, high - end photoresists, and electronic special gases. Some domestic companies have achieved certain results [21]. - For semiconductor chips, the tariff event has a short - term impact on imports, but it also accelerates domestic substitution. In the long run, it promotes the construction of a "de - Americanized" supply chain [24][25]. 1.3 Information Technology Application Innovation (ITAI) - The tariff event has a short - term impact on the ITAI industry but catalyzes long - term domestic substitution. The ITAI industry is upgrading from "usable" to "good - to - use" [26]. - Huawei's HarmonyOS has achieved breakthroughs in technology and ecological construction. It faces challenges in application and developer ecosystems but has the potential to form a tripartite situation with Android and iOS [28][30]. - The tariff event accelerates the R & D and iteration of domestic industrial software, promoting its market penetration and competitiveness [32][35]. 1.4 Satellite Internet - The satellite Internet industry in China has transformed from policy - driven to technology and market - driven, with a complete industrial chain. It has achieved technological breakthroughs but also faces challenges such as security protection and standardization [36][39]. 1.5 Domestic Computing Power - The domestic computing power industry is in a critical turning point from following to leading in technology. It has achieved multi - dimensional breakthroughs in basic software and hardware, and the market is in a virtuous cycle of investment and application [42][43]. 1.6 National Defense and Military Industry - The national defense and military industry has a high degree of self - controllability in the supply chain, showing strong resilience in the tariff event. The military electronics and aerospace industries have achieved system - level development [45][46]. 2. The US Imposes Tariffs on China, and the Self - Controllable Sector May Become the Dominant Force 2.1 Semiconductor Industry - The global semiconductor industry is recovering, entering an upward cycle. AI development and automotive intelligence drive the industry. Some leading companies have achieved significant performance growth. Key convertible bonds to focus on are Weil Convertible Bond and Xingfa Convertible Bond [47]. 2.2 Military Industry - In 2024, the performance of military industry listed companies showed a more significant structural differentiation. Leading enterprises maintained growth, while small and medium - sized manufacturers faced challenges [50]. 2.3 Computer Industry - In 2024, the computer industry gradually recovered. Leading enterprises achieved performance growth through innovation and market expansion. Daotong Convertible Bond is worthy of attention [56]. 2.4 AI Industry - In 2024, the AI industry had more development opportunities. Leading enterprises achieved performance growth through innovation. The industry is expected to benefit from the expansion of application scenarios and policy support. Kelan Convertible Bond is worthy of attention [58]. 3. There Are Many Relevant Convertible Bonds, and Some Can Be Focused on 3.1 Xingfa Convertible Bond - Xingfa Group has transformed from a traditional chemical enterprise to a high - end chemical new material supplier. Its business is distributed at home and abroad, and its net profit has increased significantly [61]. 3.2 Weil Convertible Bond - Weil Semiconductor is a leading global semiconductor design enterprise. Its performance has grown significantly, and it is in a leading position in the industry [63][65]. 3.3 Daotong Convertible Bond - Daotong Technology is a leading global enterprise in automotive intelligent diagnosis. Its net profit has increased steadily, and its overseas business revenue accounts for a high proportion [67]. 3.4 Kelan Convertible Bond - Kelan Software is an important participant in the financial technology field. Its performance has grown steadily, and it continues to expand its business areas [70].

中科曙光：第一季度净利润同比增长31% 智通财经4月29日电，中科曙光(603019.SH)公告称，2025年第一季度实现营业收入25.86亿元，同比增长 4.34%；归属于上市公司股东的净利润为1.86亿元，同比增长30.79%。主要原因是公司联营企业利润增 加对投资收益的影响。 ...

中科曙光（603019）公告，2025年第一季度营收为25.86亿元，同比增长4.34%；净利润为1.86亿元，同 比增长30.79%。 ...