Group 1 - The core point of the article highlights the performance of the Science and Technology Innovation ETF (588050), which opened with a slight increase of 0.35% at 1.451 yuan [1] - The major holdings of the ETF include companies such as SMIC, Haiguang Information, and Cambrian, with respective opening increases of 0.49%, 0.50%, and 0.47% [1] - The ETF's performance benchmark is the Shanghai Stock Exchange Science and Technology Innovation Board 50 Index, managed by ICBC Credit Suisse Asset Management Company, with a return of 0.65% since its inception on September 28, 2020, and a return of -3.07% over the past month [1] Group 2 - The article provides specific stock performance data for the ETF's holdings, including a 1.17% increase for Lattice Semiconductor and a 1.13% increase for Zhongwei Company, while Unisound and Kingsoft Office experienced declines of 0.47% and 0.45%, respectively [1] - The article emphasizes the importance of monitoring market conditions, as the ETF's recent performance reflects broader market trends [1]

三、出席会议的股东（或股东代表）须在会议召开前 20 分钟到会议现 场办理签到手续，并请按规定出示证券账户卡、身份证或法人单位证明、授 权委托书以及参会回执等，经验证后领取会议资料，方可出席会议。 四、股东（或股东代表）依法享有发言权、咨询权和表决权等各项权益。 如股东（或股东代表）欲在本次股东大会上发言，可在签到时先向大会会务 组登记。会上主持人将统筹安排股东（或股东代表）发言。股东（或股东代 表）的发言主题应与本次会议议题相关；超出议题范围，欲了解公司其他情 况的，可会后向公司董事会秘书咨询。 北京金山办公软件股份有限公司 2025 年第一次临时股东大会 会议材料 2025 年 11 月 18 日 金山办公2025年第一次临时股东大会 股东大会须知 为保障北京金山办公软件股份有限公司（下称"公司"）全体股东的合法 权益，维护股东大会的正常秩序，保证股东大会的议事效率，确保本次股东 大会如期、顺利召开，根据《中华人民共和国公司法》《北京金山办公软件 股份有限公司章程》（以下简称"《公司章程》"）、《北京金山办公软件股 份有限公司股东大会议事规则》及中国证监会、上交所的有关规定，特制定 本须知。 一、股东大会 ...

Investment Rating - The industry investment rating is "Outperform the Market" [21] Core Viewpoints - The report emphasizes that the implementation of the "Implementation Opinions" by the State Council will accelerate the development of China's artificial intelligence industry [3][7] - The Kimi K2 Thinking model, released by the company "月之暗面," ranks third globally in performance, indicating that domestic large models are continuously improving and adapting well to domestic accelerated computing chips [9][17] - The report suggests a strong outlook for the AI industry in China, driven by the competitive landscape of global AI large models and the ongoing iteration of domestic models [17] Summary by Sections Industry News and Commentary - The State Council issued the "Implementation Opinions" on November 7, which includes five parts aimed at fostering the application of new technologies and products in various economic and social scenarios [3][6] - The report notes that the Kimi K2 Thinking model has achieved state-of-the-art performance in several benchmark tests, enhancing its capabilities in complex reasoning and tool usage [9][17] Key Company Announcements - "浪潮信息" announced the progress of its share repurchase, having repurchased 1,551,866 shares at a total cost of approximately 96.99 million yuan [10] - "东华软件" disclosed two investment announcements, including the establishment of an AI research institute and a technology company with a total investment of 35 million yuan [10] - "国能日新" announced a joint venture for energy storage with a registered capital of 40 million yuan [10] Weekly Market Review - The computer industry index fell by 2.54% this week, underperforming the CSI 300 index, which rose by 0.82% [11][14] - The overall P/E ratio for the computer industry is 56.0 times, with 359 A-share component stocks, of which 98 rose, 2 remained flat, and 257 fell [14] Investment Recommendations - The report recommends focusing on AI-related investment opportunities, particularly in AI computing power and algorithms, highlighting companies such as 海光信息, 龙芯中科, and 恒生电子 [17]

Core Insights - The Shanghai Stock Exchange Sci-Tech Innovation Board Artificial Intelligence Index has decreased by 1.20% as of November 10, 2025, with mixed performance among constituent stocks [2] - The government has issued implementation opinions to accelerate the cultivation and large-scale application of new AI scenarios, emphasizing the need for core technology breakthroughs and application promotion [2][3] - The recent launch of the Kimi K2Thinking model by Moonlight Dark Side has garnered attention, showcasing significant cost advantages over international models like OpenAI's GPT-5 [3] - The total size of the Sci-Tech AI ETF has reached 6.08 billion yuan, ranking it among the top funds in its category [4] Market Performance - The Sci-Tech AI ETF has seen a 23.97% increase over the past three months, with a recent price of 0.77 yuan and a turnover rate of 2.19% [2] - The ETF has experienced a net inflow of 75.248 million yuan recently, with a notable average daily net inflow of 37.674 million yuan over the past five trading days [4] Policy and Industry Developments - The new policy aims to create a closed-loop path for technology breakthroughs, scenario validation, and industrial application, which is expected to accelerate AI development [3] - Major companies like Kingdee and Kingsoft Office are launching new products that integrate multiple AI agents, indicating a shift from AI as a tool to autonomous decision-making [3] - Global tech giants are increasing investments in AI, with Amazon and OpenAI's collaboration valued at 38 billion dollars and Meta planning to invest 600 billion dollars in AI infrastructure over the next seven years [3] Index Composition - As of October 31, 2025, the top ten weighted stocks in the Shanghai Stock Exchange Sci-Tech Innovation Board AI Index account for 70.92% of the index, including companies like Lanqi Technology and Kingsoft Office [5]

Core Viewpoint - WPS, a product of Kingsoft Office, has been recognized as an exemplary case in the 2025 World Internet Conference for its globalization efforts, marking its significant international expansion since 2005 [1] Group 1: International Expansion - WPS began its international journey by entering the Japanese market in 2005 and has since expanded to Southeast Asia, the Middle East, and Africa, covering over 220 countries and regions globally [1] - The monthly active devices for WPS have exceeded 669 million, with over 200 million of these devices being from overseas markets, establishing WPS as a benchmark for Chinese brands going global in the office software sector [1] Group 2: Regional Performance - In the ASEAN region, WPS Office has surpassed 60 million monthly active devices, indicating strong market penetration and user engagement in this area [1]

Group 1 - The stock price of Kingsoft Office (688111.SH) fell by 3.49%, closing at 329.99 yuan [1] - Research reports from multiple securities firms maintain positive ratings for Kingsoft Office, highlighting its growth potential [1] - Ping An Securities analysts emphasize the acceleration of the company's third-quarter performance and the significant potential of its main business benefiting from AI development [1] Group 2 - Guohai Securities analysts identify WPS365/software as the core engine for growth, suggesting the company is likely to see multiple new growth curves [1] - Huaan Securities analysts note the accelerated commercialization of AI and the ongoing promotion of trusted office solutions [1]

截至发稿，张天闻累计任职时间2年339天，现任基金资产总规模20.5亿元，任职期间最佳基金回报 96.68%， 任职期间最差基金回报46.95%。 数据显示，宝盈基金旗下1只基金重仓金山办公。宝盈基础产业混合A（010383）三季度持有股数5.32万 股，占基金净值比例为5.13%，位居第七大重仓股。根据测算，今日浮亏损失约63.42万元。连续4天下 跌期间浮亏损失159.03万元。 宝盈基础产业混合A（010383）成立日期2021年2月2日，最新规模2.8亿。今年以来收益47.12%，同类 排名1333/8148；近一年收益51.49%，同类排名706/8053；成立以来收益52.23%。 宝盈基础产业混合A（010383）基金经理为张天闻。 11月7日，金山办公跌3.49%，截至发稿，报329.99元/股，成交23.62亿元，换手率1.53%，总市值 1528.45亿元。金山办公股价已经连续4天下跌，区间累计跌幅8.31%。 资料显示，北京金山办公软件股份有限公司位于北京市海淀区小营西路33号金山软件大厦，成立日期 2011年12月20日，上市日期2019年11月18日，公司主营业务涉及从事WPS Of ...

Market Overview - On November 7, the A-share market opened lower but rebounded, with the Shanghai Composite Index and Shenzhen Component Index down by 0.16% and 0.37% respectively, while the North Star 50 Index rose nearly 1% [3] - The total market turnover for the half-day was 1.27 trillion yuan, slightly lower than the previous day, with over 2,300 stocks rising [5] Sector Performance - The basic chemical sector saw significant gains, with stocks in phosphorus chemical, fluorine chemical, organic silicon, and titanium dioxide experiencing high activity. Notable stocks included Dongyue Silicon Materials and Haixin Energy Technology, which hit the 20% daily limit [10][11] - The photovoltaic equipment sector also performed well, with companies like Hongyuan Green Energy and Yijing Photovoltaic reaching their daily limits [12] - The electric power equipment sector rose in tandem, with stocks like Ruitai New Materials and Tianji Shares also hitting the daily limit [13] Lithium Battery Sector - The lithium battery sector experienced a surge, with the price of lithium hexafluorophosphate rising due to increased market demand and reduced inventory. Companies reported full orders and strong product demand [14] Storage Chip Sector - The storage chip sector showed localized activity, with stocks like Demingli hitting the daily limit and reaching a historical high of 271.85 yuan per share. The supply-demand situation for storage chips remains tight, with SK Hynix completing negotiations for HBM4 supply with Nvidia [16][20] AI Sector - The AI application sector faced declines, with stocks related to operating systems, servers, and ChatGPT collectively underperforming. Concerns over high valuations in AI-related companies have intensified, leading to discussions about a potential "AI bubble" [21][24]

Market Overview - On November 7, A-shares opened lower but rebounded, with the Shanghai Composite Index and Shenzhen Component Index both down by 0.16%, and the ChiNext Index down by 0.37%. In contrast, the North Star 50 Index rose nearly 1% [1][2] - The total market turnover for the half-day was 1.27 trillion yuan, slightly lower than the previous day, with over 2,300 stocks rising [2] Sector Performance - The basic chemical, petroleum and petrochemical, and retail sectors saw gains, while lithium battery, fluorine chemical, phosphorus chemical, and photovoltaic stocks experienced significant surges [2][5] - The fluorine chemical sector rose by 4.00%, while lithium battery-related stocks also saw substantial increases, with individual stocks like Dongyue Silicon Materials and Zhaoyuan New Energy hitting the daily limit [3][5] Notable Stocks - Key stocks in the lithium battery sector included: - Dongyue Silicon Materials: 20.04% increase - Zhaoyuan New Energy: 20.01% increase - Haineng Technology: 19.95% increase [6][10] - In the photovoltaic sector, stocks like Hongyuan Green Energy and Yijing Photovoltaic also saw significant gains, with Hongyuan Green Energy rising by 10.01% [7] Storage Chip Sector - The storage chip sector was active, with stocks like Demingli hitting the daily limit and reaching a new historical high of 271.85 yuan per share [11][12] - The supply-demand situation for storage chips is tight, with SK Hynix completing negotiations for HBM4 supply with Nvidia, leading to price increases [14][15] AI Sector - The AI application sector faced declines, with stocks related to operating systems, servers, and ChatGPT all underperforming. Notable declines included Kingsoft Office and 360, both dropping over 3% [16][17] - Concerns about high valuations in the AI sector have intensified, with discussions around the potential for an "AI bubble" emerging [16]

Group 1 - The core point of the article highlights the performance of the Science and Technology Innovation ETF (588050), which opened down by 1.15% at 1.457 yuan on November 7 [1] - Major holdings in the ETF experienced declines, with notable drops including SMIC down 1.54%, Haiguang Information down 2.38%, and Cambrian down 1.65% [1] - The ETF's performance benchmark is the Shanghai Stock Exchange Science and Technology Innovation Board 50 Index, managed by ICBC Credit Suisse Asset Management Company, with a return of 2.74% since its inception on September 28, 2020, and a recent one-month return of -3.88% [1]