截至发稿，陈建华累计任职时间13年54天，现任基金资产总规模256.06亿元，任职期间最佳基金回报 193.06%， 任职期间最差基金回报-49.65%。 曹旭辰累计任职时间265天，现任基金资产总规模320.21亿元，任职期间最佳基金回报150.13%， 任职 期间最差基金回报-3.89%。 声明：市场有风险，投资需谨慎。 本文基于第三方数据库自动发布，不代表新浪财经观点，任何在本 文出现的信息均只作为参考，不构成个人投资建议。如有出入请以实际公告为准。如有疑问，请联系 biz@staff.sina.com.cn。 华宝中证金融科技主题ETF（159851）基金经理为陈建华、曹旭辰。 2月10日，格尔软件跌5.04%，截至发稿，报26.77元/股，成交6.63亿元，换手率10.57%，总市值62.66亿 元。 资料显示，格尔软件股份有限公司位于上海市松江区泗泾镇沐川路58弄1-7号G60商用密码产业基地A2 楼，成立日期1998年3月3日，上市日期2017年4月21日，公司主营业务涉及公钥基础设施 PKI(PublicKeyInfrastructure)为核心的商用密码软件产品的研发、生产和销售及服务业务, ...

Core Viewpoint - The article highlights a significant breakthrough in scalable quantum network research by the team led by Academician Pan Jianwei from the University of Science and Technology of China, marking a transition from theoretical concepts to practical possibilities in quantum communication and expanding China's international leadership in this field [1][2]. Group 1: Breakthroughs in Quantum Technology - The research team has constructed the basic module for a scalable quantum relay, enabling long-distance quantum networks to become a reality [2][3]. - The team achieved high-fidelity entanglement between single-atom nodes over long distances and successfully extended the transmission distance of device-independent quantum key distribution (DI-QKD) beyond 100 kilometers [2][4]. - These advancements are seen as a milestone following the "Mozi" quantum satellite, further solidifying China's position in quantum communication and networking [2][3]. Group 2: Market Response and Investment Opportunities - Following the announcement, several quantum technology stocks surged in the A-share market, with notable increases in companies like Longfly Fiber, Geer Software, and Hengtong Optic-Electric [1][5]. - The quantum computing market is projected to grow from $800 million in 2021 to $50.37 billion by 2024, with an expected CAGR of 87.64% reaching approximately $219.98 billion by 2030 [5]. - The article emphasizes that quantum computing could address the increasing demand for computational power in the AI era, providing a new paradigm for computational supply [5]. Group 3: Quantum Computing Industry Chain - The upstream of the quantum computing industry chain includes dilution refrigerators, measurement and control systems, and quantum chips, which collectively account for about 86% of the core segments [6]. - Domestic companies are accelerating innovation and domestic substitution in response to strict regulations on high-end measurement and control equipment in Europe and the U.S. [6]. - The article notes that the application market for quantum computing in fields such as financial risk control, biomedicine, and chemical material design is expected to exceed $100 billion in the next decade [6].

截至2026年2月5日10点07分，中证半导体材料设备主题指数下跌3.04%。成分股方面，华峰测控领跌 7.83%，康强电子（002119）下跌7.61%，拓荆科技下跌6.45%，立昂微（605358）下跌5.16%，华海诚 科下跌5.12%。半导体设备ETF华夏(562590)下跌2.91%，最新报价1.84元。 资金流入方面，科创半导体ETF最新资金净流出5938.88万元。拉长时间看，近5个交易日内有3日资金 净流入，合计"吸金"2.02亿元，日均净流入达4039.18万元；半导体设备ETF华夏最新资金净流出2074.60 万元。拉长时间看，近23个交易日内有18日资金净流入，合计"吸金"18.58亿元，日均净流入达8077.43 万元；信创ETF近3天获得连续资金净流入，最高单日获得3000.09万元净流入，合计"吸金"3757.90万 元，日均净流入达1252.63万元。 开源证券认为，AWS和谷歌打响云涨价第一枪，国产云厂商有望跟进。我们认为云涨价的背后逻辑在 于近期由于CPU及存储涨价，同时Agent的复杂任务执行带来算力需求的激增。 消息面上，谷歌母公司ALPHABET第四财季营收1138.3 ...

Group 1 - The core viewpoint of the articles highlights the significant impact of AI applications on the financial technology sector, leading to a notable decline in fintech stocks, with several companies experiencing drops of over 5% [1] - The financial technology ETF (159851) saw a 3% decline during intraday trading, but there was active buying interest, with over 900 million yuan accumulated in the past week [1][3] - Guotai Junan Securities anticipates that AI will drive the upgrade of the fintech industry, creating new investment opportunities, particularly in areas such as financial IT, intelligent investment research, and consumer finance [3] Group 2 - The financial technology ETF (159851) has a current scale exceeding 11 billion yuan, with an average daily trading volume of 800 million yuan over the past six months, indicating strong liquidity compared to other ETFs tracking the same index [3] - The report recommends focusing on core companies benefiting from digital currency upgrades, intelligent investment services, and consumer finance innovations, suggesting a multi-faceted approach to capture fintech opportunities [3] - The ETF and its related funds are structured to cover a wide range of themes, including internet brokerage, financial IT, cross-border payments, and AI applications, aligning with the current market trends [3]

尽管短期业绩面临挑战，但公司始终将技术创新视为穿越周期的核心驱动力。公告提及，公司正积极调整 优化经营管理，同时坚定保持在抗量子密码等关乎长远安全格局的核心领域的持续布局。未来，公司将持 续推进抗量子密码产品体系和迁移技术的深化，借助AI辅助技术实现算法集成自适应，通过AI数据分析技 术对所有IT资产量子抗性进行完整分析，助力用户以更低成本实现抗量子迁移。 对于2025年业绩预亏的主要原因，公告明确指出，主要系受市场经济环境影响，下游客户信息安全预算整 体收紧，导致公司主营业务收入下降。 1月24日，格尔软件发布2025年度业绩预亏公告，预计实现扣除与主营业务无关和无商业实质的营业收入为 3.3亿元至3.7亿元；归属于母公司所有者的净利润约为-6000万元至-9000万元，相较于上年同期的盈利状态 转为亏损；归属于母公司所有者的扣除非经常性损益后的净利润约为-8000万元至-1.2亿元。 回溯上年同期经营业绩，公司利润总额为2765.19万元，归属于母公司所有者的净利润为3681.21万元，归属 于母公司所有者的扣除非经常性损益的净利润为1569.42万元，每股收益为0.16元/股。 ...

Core Insights - The firewall industry in China is a critical component of the network security system, serving as the first line of defense for enterprises and individuals. The industry is characterized by a diverse range of listed companies, primarily concentrated in the upstream and midstream segments of the supply chain [1][5]. Group 1: Company Overview - Major companies in the firewall industry include Sangfor (300454.SZ), Tianrongxin (002212.SZ), Hillstone Networks (688030.SH), Deepin Technology (300768.SZ), Ruijie Networks (301165.SZ), Venustech (002439.SZ), Qihoo 360 (688561.SH), and NSFOCUS (300369.SZ) [1]. - The highest revenue in the firewall industry for 2024 is projected to be from Lenovo, with revenue reaching 114.77 billion yuan, followed closely by Inspur with the same revenue figure [4]. - The registered capital is highest for NSFOCUS, while Tianrongxin is the oldest company in the industry. Ruijie Networks has the most bidding information, totaling 7,141 entries [8]. Group 2: Revenue and Profitability - In terms of revenue from firewall-related business, Sangfor is expected to generate 3.629 billion yuan in 2024, ranking second in the domestic market for unified threat management. Qihoo 360 follows with an expected revenue of 2.653 billion yuan [9]. - The gross profit margin for representative companies in the firewall industry is projected to be around 60% in 2024, with Sangfor achieving the highest margin at 79.31% and Hillstone Networks at 71.97% [11]. Group 3: Business Layout - The firewall business layout of listed companies shows a combination of regional focus and nationwide outreach, with technological innovation and scenario deepening being key characteristics. Sangfor focuses on South China, covering over 30 countries and regions, while Qihoo 360 is centered in Beijing, targeting government and state-owned enterprises [13][15]. - Companies like Tianrongxin and Venustech are also focusing on specific sectors such as industrial internet and government services, respectively, to enhance their market presence [15]. Group 4: Business Planning - Future business plans for firewall companies emphasize technological iteration and scenario deepening. Sangfor aims to integrate network security with cloud computing and transition to a subscription model by 2026 [17]. - Qihoo 360 plans to allocate 25% of its R&D budget to encryption firewall research, while Tianrongxin is focusing on smart solutions for industrial firewalls [17].

（一）业绩预告期间 证券代码：603232 证券简称：格尔软件 公告编号：2026-002 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法律责任。 格尔软件股份有限公司 重要内容提示： ● 业绩预告相关的主要财务数据情况：经财务部门初步测算，预计格尔软件股份有限公司（以下简 称"公司"）2025年度实现归属于母公司所有者的净利润约为-6,000.00万元至-9,000.00万元；预计2025年 度实现归属于母公司所有者的扣除非经常性损益后的净利润约为-8,000.00万元至-12,000.00万元。 2025年年度业绩预亏公告 ● 业绩预告的具体适用情形：净利润为负值。 一、本期业绩预告情况 2025年1月1日至2025年12月31日。 （二）业绩预告情况 1、经财务部门初步测算，预计公司2025年度实现归属于母公司所有者的净利润约为-6,000.00万元 至-9,000.00万元，与上年同期（法定披露数据）相比，将出现亏损。 2、预计公司2025年度实现归属于母公司所有者的扣除非经常性损益后的净利润约为-8,000.00万元 至-1 ...

证券代码：603232 证券简称：格尔软件 公告编号：2026-003 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法律责任。 重要内容提示： ● 业绩预告的具体适用情形：净利润为负值。 ● 业绩预告相关的主要财务数据情况：经财务部门初步测算，预计格尔软件股份有限公司（以下简 称"公司"）2025年度实现营业收入为33,000万元至37,000万元；归属于母公司所有者的净利润约 为-6,000.00万元至-9,000.00万元；预计2025年度实现归属于母公司所有者的扣除非经常性损益后的净利 润约为-8,000.00万元至-12,000.00万元。 一、本期业绩预告情况 （一）业绩预告期间 2025年1月1日至2025年12月31日。 （二）业绩预告情况 （三）本期业绩预告未经注册会计师审计。 二、上年同期经营业绩和财务状况 （一）利润总额：2,765.19万元；归属于母公司所有者的净利润：3,681.21万元；归属于母公司所有者的 扣除非经常性损益的净利润：1,569.42万元。 （二）每股收益：0.16元/股。 三、本期业绩预亏的 ...

Core Viewpoint - Geer Software (603232.SH) has announced a projected net loss of approximately 60 million to 90 million yuan for the fiscal year 2025, primarily due to a tightening of information security budgets among downstream clients influenced by the current market economic environment [1] Group 1: Financial Performance - The expected net profit attributable to the parent company for 2025 is estimated to be between -60 million and -90 million yuan [1] - The decline in main business revenue is attributed to the overall tightening of information security budgets in the market [1] Group 2: Strategic Response - Despite the short-term challenges posed by the market economic environment, the company views technological innovation as a core driver to navigate through cycles [1] - The company is actively adjusting and optimizing its management operations while maintaining a focus on key areas such as quantum-resistant security [1] - The company plans to continue advancing its quantum-resistant product system and migration technologies, leveraging AI-assisted technologies for algorithm integration and comprehensive analysis of IT asset quantum resistance [1]

Financial Projections - The company expects 2025 annual revenue to be between 330 million and 370 million CNY[2] - The projected net loss attributable to shareholders for 2025 is estimated to be between -60 million and -90 million CNY, indicating a significant decline compared to the previous year's profit of 36.81 million CNY[4] - The expected net profit attributable to shareholders, after deducting non-recurring gains and losses, is projected to be between -80 million and -120 million CNY for 2025[3] - The company reported a total profit of 27.65 million CNY for the previous year[4] Market Challenges - The decline in performance is primarily due to tightened information security budgets from downstream clients, impacting the company's main business revenue[6] Strategic Focus - The company is focusing on technological innovation as a core driver to navigate through the challenging market environment[6] - The company plans to continue developing its quantum-resistant product system and migration technology, leveraging AI-assisted technologies for adaptive algorithm integration[6] Financial Data Integrity - The preliminary financial data provided is subject to change and will be finalized in the official 2025 annual report[8] - The company emphasizes that there are no significant uncertainties affecting the accuracy of this earnings forecast[7] - The earnings forecast has not yet been audited by registered accountants[3]