投资者杭州阿里创业投资有限公司保证向本公司提供的信息真实、准 确、完整，没有虚假记载、误导性陈述或重大遗漏。 本公司董事会及全体董事保证公告内容与信息披露义务人提供的信息 一致。 一、 信息披露义务人及其一致行动人的基本信息 证券代码：688023 证券简称：安恒信息 公告编号：2025-040 杭州安恒信息技术股份有限公司关于 持股 5%以上股东权益变动触及 1%刻度的提示性公告 3.一致行动人信息 上述信息披露义务人无一致行动人。 二、 权益变动触及 1%刻度的基本情况 2025 年 6 月 23 日，杭州安恒信息技术股份有限公司（以下简称"公司"） 收到股东杭州阿里创业投资有限公司（以下简称"阿里创投"）出具的《关于权 益变动比例触及 1%整数倍的告知函》。阿里创投在 2025 年 5 月 20 日至 2025 年 6 月 23 日期间，通过大宗交易方式减持其所持有的公司股份 147.43 万股，占公 司总股本的 1.44%，阿里创投持有公司股份的比例从 8.18%减少至 6.74%，权益 变动触及 1%刻度，具体情况如下： | | 投资者名 | | 变动前股 | 变动前比 | 变动后股 | 变动后比 ...

Core Points - Alibaba's venture capital reduced its stake in Anheng Information from 8.18% to 6.74% [1] - The reduction occurred between May 20, 2025, and June 23, 2025, through block trading [1] - A total of 1.4743 million shares were sold, representing 1.44% of the total share capital [1]

Core Viewpoint - The company has decided to repurchase and cancel 206,851 shares of restricted stock due to unmet performance targets for 2024, as outlined in its second phase of the 2023 restricted stock incentive plan [1][2][4]. Summary by Sections Repurchase and Cancellation Reasons - The repurchase and cancellation of shares are based on the failure to meet the performance target of a 50% revenue growth from 2022 to 2024, as per the incentive plan [2][4]. Details of the Repurchase and Cancellation - The decision was approved in a board meeting on April 29, 2025, and involves 22 individuals with a total of 206,851 shares to be repurchased and canceled [1][2]. - The cancellation is expected to be completed by June 24, 2025, after which the company will proceed with necessary business registration changes [2][3]. Changes in Share Structure - Post-repurchase, the total share capital will decrease from 102,272,396 shares to 102,065,545 shares, with all restricted shares being canceled [2][3]. Compliance and Legal Assurance - The company confirms that the decision-making process and information disclosure comply with relevant laws and regulations, ensuring no harm to the rights of the incentive recipients or creditors [4][5]. - A legal opinion from Shanghai Junlan Law Firm supports that the repurchase and cancellation have received necessary approvals and follow the required procedures [5].

证券代码：688023 证券简称：安恒信息 公告编号：2025-039 杭州安恒信息技术股份有限公司 2023 年第二期限制性股票激励计划部分第一类限制性股 票回购注销实施的公告 本次注销股份的有关情况 | 回购股份数量（股） | 注销股份数量（股） | 注销日期 | | | | | --- | --- | --- | --- | --- | --- | | 206,851 | 206,851 | 2025 年 月 | 6 | 24 | 日 | 一、本次限制性股票回购注销的决策与信息披露 （一）2025 年 4 月 29 日，公司召开第三届董事会第十三次会议与第三届监 事会第十二次会议，审议通过了《关于回购注销公司 2023 年第二期限制性股票 激励计划部分已获授尚未解除限售的限制性股票的议案》。监事会对前述事项进 行核实并发表了核查意见。 （二）公司已根据相关法律法规的规定就本次回购注销事项履行通知债权人 程序，公司于 2025 年 4 月 30 日在上海证券交易所网站（www.sse.com.cn）披露 了《关于变更注册资本并修订<公司章程>暨通知债权人的公告》。截至申报期 满，公司未收到任何债权人对此次 ...

Core Insights - Baidu and Anheng Information signed a strategic cooperation agreement focusing on cloud security, data security, and large model security [1] Company Summary - The collaboration aims to explore intelligent security solutions in the specified fields [1]

Group 1 - The rapid development of the digital economy has raised significant concerns regarding data security, including issues such as AI fraud, phishing software, and excessive user permission requests [1] - Experts at the 2025 China Digital Valley·West Lake Forum discussed themes such as the release of data element value, breakthroughs in artificial intelligence innovation, and the symbiosis of security in the digital age [1] - The former president of the China Computer Society, Mei Hong, emphasized that China's digital transformation is still in its early stages and highlighted the need to build an efficient data system, improve data element circulation and trading, and strengthen technical support [1] Group 2 - New technologies such as brain-computer interfaces and embodied intelligence present new security challenges, with experts noting the need for a balance between accuracy and safety in brainwave decoding algorithms [2] - The development of humanoid robots requires the reception of vast amounts of environmental information, necessitating the establishment of new safety norms to make data usable [2] - The chairman of Anheng Information, Fan Yuan, stated that real-time regulation through data classification, access control, desensitization protection, and risk warning is essential for transitioning security protection from static to dynamic, ensuring comprehensive security throughout the data lifecycle [2]

Group 1 - The core viewpoint emphasizes that companies should not solely rely on AI for competitive advantage but should integrate their capabilities and iterative improvements with AI to achieve sustainable development [1][6] - AI is seen as a dual-faceted tool that can reconstruct business and management models, requiring companies to focus on both input-output ratios and enhancing competitive advantages to meet market demands [4][5] - The ownership of data is a significant challenge for companies applying AI, as it directly impacts traditional asset management and the motivation for data aggregation among participants [5][6] Group 2 - Companies are encouraged to shift from a "push" to a "pull" model driven by market demand, enhancing resource utilization and adaptability in a rapidly changing business environment [6] - There is ongoing debate in academia regarding whether AI can provide a competitive advantage, with some arguing that data insights can create positive feedback loops while others stress the importance of data-driven learning capabilities [6][7] - The current focus for companies is on extracting the value of AI rather than merely discussing its technical aspects, highlighting the importance of efficiency and improved user experiences [7][11] Group 3 - Anheng Information has integrated AI into its products and services, recognizing the potential of generative AI to reshape industry dynamics [7][8] - The company has made AI a primary strategy, driving innovations in data protection and service offerings [8][9] - AI has significantly improved operational efficiency in security operations, reducing the number of alerts requiring human intervention and enhancing overall operational quality [9][10] Group 4 - Companies like iFlytek are building AI ecosystems that combine core technical capabilities with product development, supporting vertical solutions for various industries [11][12] - The dual approach of combining management reforms with technological capabilities is essential for successful digital transformation, leading to sustained business value [11][12] - Discussions among industry leaders reveal that while many companies are still exploring AI applications, there is potential for new business models and opportunities to emerge in the coming years [14]

Industry Rating - The industry rating is maintained at "Outperform" [1] Core Insights - The report suggests that the years 2025-2026 are expected to mark the commercialization of AI Agents, driven by advancements in large model capabilities and the introduction of key players like OpenAI, Anthropic, Microsoft, and Google [2][3] - The total addressable market (TAM) for AI Agents is estimated at approximately 3.61 trillion yuan, with significant opportunities in vertical industries such as IT and finance [2][3] - AI Agents are projected to replace specific standardized roles in various sectors, with a focus on enhancing productivity and ROI for businesses [3][48] Summary by Sections Investment Rating - The report maintains a rating of "Outperform" for the industry [1] Market Potential - The total addressable market (TAM) for AI Agents is estimated at 3.61 trillion yuan, calculated based on total salary levels, replacement rates, and efficiency optimization [50][54] - The report highlights six core scenarios where AI Agents are expected to penetrate first, including coding, banking, human resources, legal, cybersecurity, and customer service [61][62] Key Industry Insights - AI Agents are anticipated to significantly impact the banking sector, with 54% of jobs having a high potential for automation, leading to an estimated TAM of 1774.32 billion yuan in this field [71][77] - In the coding sector, AI is expected to automate up to 99% of coding tasks by the end of 2025, with a TAM of approximately 4357.84 billion yuan [63][68] - The report emphasizes that AI Agents will first replace roles in high-salary, white-collar industries such as finance, IT, and law, where the ROI for AI implementation is more favorable [55][57] Company Recommendations - The report suggests monitoring companies involved in general office applications and enterprise SaaS, as well as those in vertical markets like banking, human resources, and cybersecurity [3][4]

Core Insights - The Shanghai Stock Exchange Sci-Tech Innovation Board Artificial Intelligence Index (950180) has shown a strong increase of 1.23% as of June 3, 2025, with notable gains in constituent stocks such as Lanke Technology (688008) up by 5.57% and Fudan Microelectronics (688385) up by 3.75% [2] - The upcoming Global Artificial Intelligence Technology Conference (GAITC 2025) will be held in Hangzhou from June 7 to 8, focusing on themes of "crossing, integration, mutual growth, and win-win" [2] - CITIC Securities reports that the process of re-evaluating the value of China's technology industry is ongoing, recommending investors to focus on the expansion of the AI ecosystem and the investment opportunities arising from application implementation [2] ETF Performance - The Sci-Tech AI ETF (588790) closely tracks the Shanghai Stock Exchange Sci-Tech Innovation Board Artificial Intelligence Index, which includes 30 large-cap companies providing resources, technology, and application support for AI [3] - The ETF has seen a significant growth in scale, increasing by 82.29 million yuan in the past week, ranking it in the top one-sixth among comparable funds [3] - As of the latest data, the ETF's shares reached a new high of 5.578 billion shares, also placing it in the top one-sixth among comparable funds [3] Fund Flows - The Sci-Tech AI ETF has experienced continuous net inflows over the past five days, with a peak single-day net inflow of 42.23 million yuan, totaling 115 million yuan in net inflows [3] - The latest margin buying amount for the ETF reached 11.92 million yuan, with a margin balance of 72.73 million yuan [3] Return Metrics - As of May 30, 2025, the Sci-Tech AI ETF has achieved a maximum monthly return of 15.59% since its inception, with the longest consecutive monthly gain being two months and a total increase of 26.17% [4] - The ETF has a relative drawdown of 0.40% compared to its benchmark since inception [4] Fee Structure and Tracking Accuracy - The management fee for the Sci-Tech AI ETF is 0.50%, and the custody fee is 0.10%, making it the lowest among comparable funds [5] - The ETF has a tracking error of 0.016% over the past three months, indicating high tracking accuracy compared to similar funds [5] Valuation Insights - The latest price-to-earnings ratio (PE-TTM) for the index tracked by the ETF is 116.45, which is in the 16.67th percentile over the past year, indicating a valuation lower than 83.33% of the time in the past year [5] - The top ten weighted stocks in the index account for 70.6% of the total, with Lanke Technology (688008) holding the highest weight at 10.47% [5][7]

Group 1 - The three major indices opened lower on May 30, with the technology sector experiencing a decline, as evidenced by the Shanghai Stock Exchange Sci-Tech Innovation Board Artificial Intelligence Index dropping by 1.69% [1] - The Sci-Tech Innovation Board Artificial Intelligence ETF (588930) also opened lower, currently down by 1.77%, with over 90% of its constituent stocks declining, while Anheng Information and Stone Technology showed gains [1] - Notably, on May 29, the Sci-Tech Innovation Board Artificial Intelligence ETF (588930) saw a net inflow of over 4.5 million yuan [1] Group 2 - On May 29, the Zhejiang Provincial Economic and Information Technology Department released the "Implementation Opinions on Promoting the Innovative Development of Intelligent Computing Cloud (2025-2027)," aiming to build a robust intelligent computing cloud ecosystem by 2027 [2] - The overall goal includes achieving a computing scale of 60 EFlops through public cloud services and nurturing 100 benchmark enterprises in the intelligent computing cloud sector [2] - Zheshang Securities anticipates that 2025 will be a significant year for AIGC applications, driven by hardware advancements and reduced training costs, which will catalyze product growth [2] - Huaxin Securities highlights the accelerated upgrade of industry intelligence and the deepening application of automation technology, suggesting opportunities in AI and cloud computing collaboration [2]