登录新浪财经APP 搜索【信披】查看更多考评等级 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： 董事兼技术总监：刘忻先生 ● 会议召开时间：2025年12月15日 (星期一) 15:00 - 16:00 ● 会议召开地点：上海证券交易所上证路演中心（网址：https://roadshow.sseinfo.com/） ● 会议召开方式：上证路演中心网络互动 ● 投资者可于2025年12月8日(星期一) 至12月12日(星期五)16:00前登录上证路演中心网站首页点击"提问 预征集"栏目或通过公司邮箱bingozhengquan@bingosoft.net进行提问。公司将在说明会上对投资者普遍 关注的问题进行回答。 广州市品高软件股份有限公司（以下简称"公司"）已于2025年10月28日发布公司2025年第三季度报告， 为便于广大投资者更全面深入地了解公司2025年第三季度的经营成果、财务状况，公司计划于2025年12 月15日 (星期一) 15:00 - 16:00举行2025年第三季度业绩说明会，就投资者关心 ...

Core Insights - The report emphasizes that computational power is accumulating, leading to significant advancements in applications, particularly in AI, with a projected 10% impact point approaching in 2026 [3] - Institutional holdings in the computer sector are at a historical low of 2.4%, indicating potential for growth in valuations [3][21] - The report identifies three key focus areas for 2026: large models, computational power, and applications, all showing significant changes and accelerated iterations [3] Group 1: Market Overview - The computer index has shown a year-to-date increase of 18%, ranking 12th among all sectors, with AI computing, embodied intelligence, and AI applications as the main themes [9][10] - The report notes a basic performance turning point, with net profit rebounding and a stable overall performance expected for 2025 [10][13] Group 2: Valuation and Holdings - The report indicates that the computer sector's valuation is at a historical mid-to-high level, with PE (TTM) at 85.4, PS (TTM) at 3.6, and PCF (TTM) at 46.6 [18] - The report highlights that the computer sector's fund allocation is at a historical low, with a 2.4% allocation in Q3 2025 [21] Group 3: AI Model Developments - The report discusses the rapid narrowing of the performance gap between Chinese and American large models, with significant advancements in commercial applications expected [3][26] - It highlights the emergence of various large models in 2025, focusing on monetization, AI programming, and multi-modal capabilities [26][29] Group 4: Key Companies and Trends - The report identifies key companies in the computer sector, such as Zhongke Shuguang and Inspur Information, which have seen significant increases in their market values due to rising domestic computational capacity [23] - The report notes that the demand for AI applications is driving growth in various sectors, with companies like Alibaba and ByteDance leading in AI-related job creation [40]

证券代码：688227 证券简称：品高股份 公告编号：2025-050 广州市品高软件股份有限公司 关于召开 2025 年第三季度业绩说明会的公告 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： 广州市品高软件股份有限公司（以下简称"公司"）已于 2025 年 10 月 28 日发布公司 2025 年第三季度报告，为便于广大投资者更全面深入地了解公司 2025 年第三季度的经营成果、财务状况，公司计划于 2025 年 12 月 15 日 (星期 一) 15:00 - 16:00 举行 2025 年第三季度业绩说明会，就投资者关心的问题进 行交流。 一、说明会类型 本次投资者说明会以网络互动形式召开，公司将针对 2025 年第三季度的经 营成果及财务指标的具体情况与投资者进行互动交流和沟通，在信息披露允许的 范围内就投资者普遍关注的问题进行回答。 二、说明会召开的时间、地点 （一） 会议召开时间：2025 年 12 月 15 日 (星期一) 15:00 - 16:00 （二） 会议召开地点：上证路演中心 会议召开 ...

Market Performance - The Sci-Tech 50 Index fell by 1.24%, closing at 1320.16 points, with a total trading volume of 3.032 billion shares and a turnover of 141.525 billion yuan, resulting in a weighted average turnover rate of 1.58% [1] - Among the tradable stocks on the Sci-Tech board, 102 stocks closed higher, with 2 stocks rising over 10% and 5 stocks rising between 5% and 10%. Conversely, 481 stocks closed lower, with 1 stock declining over 10% [1] Turnover Rate Analysis - The turnover rate distribution shows that 3 stocks had a turnover rate exceeding 20%, 13 stocks had a turnover rate between 10% and 20%, and 41 stocks had a turnover rate between 5% and 10%. Additionally, 290 stocks had a turnover rate between 1% and 3%, while 189 stocks had a turnover rate below 1% [1] - The stock with the highest turnover rate was Aerospace Huanyu, which closed down 4.82% with a turnover rate of 30.29% and a transaction amount of 1.16 billion yuan. Other notable stocks included Hengkun New Materials and Yunzhu Technology, with turnover rates of 24.48% and 20.04%, respectively [1] Stock Performance - Among stocks with a turnover rate exceeding 5%, 21 stocks rose today, with the highest increases seen in Hongwei Technology (up 15.85%), Aike Saibo (up 15.06%), and Bixing Wulian (up 8.99%). Conversely, the largest declines were in Yunzhu Technology (down 20.00%), Pingao Co. (down 9.62%), and Chaozhuo Hangke (down 7.72%) [2] - In terms of industry performance, the electronics sector had the most stocks with a turnover rate exceeding 5%, totaling 20 stocks, followed by the computer and power equipment sectors with 10 and 8 stocks, respectively [2] Capital Flow - Among high turnover stocks, 23 stocks experienced net inflows of main funds, with the largest inflows in Baiwei Storage (190 million yuan), Hongwei Technology (134 million yuan), and Wanrun New Energy (126 million yuan). Conversely, the largest net outflows were seen in Tengjing Technology (223 million yuan), Yunzhu Technology (196 million yuan), and Aters (161 million yuan) [2] - Regarding leveraged funds, 36 stocks received net purchases of leveraged funds recently, with Baiwei Storage, Dekeli, and Tengjing Technology seeing the largest increases in financing balances of 348 million yuan, 331 million yuan, and 248 million yuan, respectively. In contrast, Aike Saibo, Heyuan Bio, and Guangyun Technology experienced the largest decreases in financing balances [2] Notable Stocks on December 2 - Key stocks with high turnover rates included Aerospace Huanyu (closing price 39.86 yuan, down 4.82%, turnover rate 30.29%, net inflow 8.99 million yuan), Hengkun New Materials (closing price 49.88 yuan, down 3.89%, turnover rate 24.48%, net outflow 56.93 million yuan), and Yunzhu Technology (closing price 41.04 yuan, down 20.00%, turnover rate 20.04%, net outflow 195.62 million yuan) [3][4]

New Stock Listings - Jingchuang Electric (920035) listed at an issuance price of 12.10 on December 2, 2025[1] - Tianpu Co., Ltd. (605255) is in the offer period from November 20 to December 19, 2025[1] Market Alerts - ST Suwu (600200) enters the delisting arrangement period starting December 9, 2025[1] - Jianglong Shipbuilding (300589) reported severe abnormal fluctuations[1] Recent Announcements - Multiple companies including Beida Pharmaceutical (000788) and ST Green Health (002868) have recent announcements regarding their stock activities[1] - A total of 30 companies have been flagged for abnormal trading activities in the last week[2]

Market Overview - The IT services sector experienced a decline of 1.15% on December 2, with Pingao Co. leading the drop [1] - The Shanghai Composite Index closed at 3897.71, down 0.42%, while the Shenzhen Component Index closed at 13056.7, down 0.68% [1] Top Gainers in IT Services - Haixia Innovation (300300) saw a significant increase of 13.53%, closing at 18.46 with a trading volume of 2.1262 million shares and a transaction value of 3.774 billion [1] - Rongmu Software (002474) rose by 10.02%, closing at 12.30 with a trading volume of 504,000 shares and a transaction value of 616 million [1] - Other notable gainers included Luqiao Information (920748) up 5.78%, Huichan Co. (688500) up 5.33%, and Sichuang Medical (300078) up 5.27% [1] Top Losers in IT Services - Pingao Co. (688227) experienced the largest decline of 9.62%, closing at 73.01 with a trading volume of 113,100 shares and a transaction value of 849 million [2] - Nanjing Digital (301638) fell by 4.64%, closing at 22.63 with a trading volume of 609,900 shares and a transaction value of 1.395 billion [2] - Other significant losers included Hand Information (300170) down 4.09% and Zhuoyi Information (688258) down 3.88% [2] Capital Flow Analysis - The IT services sector saw a net outflow of 2.091 billion from institutional investors, while retail investors contributed a net inflow of 1.321 billion [2] - Notable net inflows from retail investors were observed in Rongmu Software (002474) with 306 million and Huichan Co. (300078) with 93.017 million [3] - Conversely, significant net outflows were recorded for Nanjing Digital (301638) and Hand Information (300170) [3]

Core Insights - The China Academy of Information and Communications Technology (CAICT) has officially released multiple work results from the "Foundational Plan" for 2025, highlighting the inclusion of Pingao Co., Ltd.'s "Pingyuan AI Integrated Machine" in the "High-Quality Digital Transformation Technology Solutions Collection (2025)" [1] - The "Foundational Plan" aims to address pain points in digital transformation across various industries by providing authoritative guidance and selecting representative technological solutions and outstanding enterprises [1] Group 1: Product and Technology - The "Pingyuan AI Integrated Machine" features a fully domestically designed supply chain, achieving self-control from core chips to complete machine integration [3] - This product can densely accommodate 16 Jiangyuan D10/D20 AI acceleration cards, matching the performance of international mainstream products, with the D20 being the first fully domestic inference acceleration card for computing centers [3] - The machine can achieve a single-machine computing power of 5P and a maximum memory capacity of 4T, capable of replacing mainstream inference chip solutions like NVIDIA T4 and 4090 [3][5] Group 2: Performance and Cost Efficiency - The integration of Jiangyuan's operator fusion technology and Pingao's self-developed 4D parallel scheduling strategy has improved the response speed of the DeepSeek-R1 model by 30%, with energy efficiency ratios reaching 2.5 times that of mainstream GPUs [5] - The product significantly reduces the total cost of ownership (TCO) for enterprises, allowing a single 16-card PYD20 integrated machine to support the AI application development needs of a team of 60 [5] Group 3: Market Application and Recognition - The Pingyuan AI Integrated Machine is compatible with mainstream CPUs and various deployment forms, covering a wide range of application scenarios [5] - The recent recognition of Pingao Co., Ltd. by national authorities underscores the company's technological strength and maturity of solutions, reflecting its significant role in advancing domestic computing infrastructure [6] - The company aims to continue its strategy of integrating vertical field AI with domestic computing ecosystems, focusing on core technology innovation and collaboration with partners [6]

Market Performance - The A-share market indices collectively rose during the week of November 24-28, with the Shanghai Composite Index closing at 3888.60 points, up 1.40% for the week; the Shenzhen Component Index at 12984.08 points, up 3.56%; and the ChiNext Index at 3052.59 points, up 4.54% [2] - Over 83% of individual stocks experienced gains during the week, with 192 stocks rising over 15%, while 12 stocks fell over 15% [2] Leading Stocks - Pingao Co., Ltd. (688227.SH) topped the weekly gainers with a 66.93% increase, followed by Jinfutong Technology (003018.SZ) with a 61.07% rise; several other stocks also saw gains exceeding 53% [4] - The top ten stocks in the bull market all recorded cumulative gains of over 44% during the week [4] Investment Activities - Pingao Co., Ltd. announced a plan to invest 400 million yuan in Jiangyuan Technology, acquiring a 14.2151% stake, which will increase to 15.4182% post-investment [5] - The investment will be primarily funded through a loan from the controlling shareholder, with only 40 million yuan coming from Pingao's own funds [5] Underperforming Stocks - ST Lifang (300344.SZ) was the worst performer, with a 30.00% decline, facing investigation by the China Securities Regulatory Commission for alleged information disclosure violations [8] - Other stocks, including Huaci Co., Ltd. (001216.SZ) and *ST Dongyi (002713.SZ), also experienced declines exceeding 15% [8] Company Performance - ST Lifang reported a total revenue of 203 million yuan for the third quarter of 2025, a slight decrease of 0.44% year-on-year, with a net loss of 62.21 million yuan, down 20.59% year-on-year [9] - The company is currently under investigation, which could lead to significant consequences, including potential delisting if found guilty of major violations [9][10]

Group 1 - A total of 35 stocks experienced a price increase of over 30% this week [2] - Pingao Co., Jinfu Technology, and Yunzhuang Technology saw cumulative gains exceeding 60%, with Pingao Co. reaching new highs multiple times during the week [2] - Jinfu Technology achieved a five-day consecutive price increase this week [2] Group 2 - Among the stocks that declined, 30 companies recorded a cumulative drop of over 10% [2] - Dapeng Industrial had the largest decline, with a cumulative drop exceeding 50% this week [2] - ST Lifang experienced a cumulative decline of 30% [2]

Market Overview - In November, major market indices experienced more declines than gains, with the Shanghai Composite Index falling nearly 1.7% as of November 28, ending a six-day winning streak [1][2] - The North Exchange 50 and Sci-Tech Innovation 50 indices also showed significant declines [1] Individual Stock Performance - Excluding newly listed stocks, 20 stocks recorded over 100% gains this month, with Huasheng Lithium Battery achieving the highest increase of 247.30% [3][4] - Other notable performers include Haike Xinyuan, Pinggao Co., Guosheng Technology, Hefei China, Furui Shares, Zhenai Meijia, ST Hezhong, and Qingshuiyuan, with five stocks showing over 100% gains [3][4] Sector Analysis - Among the 20 stocks that doubled in value, the sectors with the most representation were Electric Equipment (approximately 25%), Textile and Apparel (15%), and Medical Biology (15%), along with others like Defense and Military, Environmental Protection, Computer, Building Decoration, Coal, Agriculture, and Comprehensive sectors [5] - The five stocks with the highest monthly gains belonged to the Electric Equipment, Computer, Building Decoration, and Medical Biology sectors [5] Financing Activity - As of November 27, stocks that doubled in value saw increased buying from margin traders, with notable net purchases in Saiwei Electronics, Huasheng Lithium Battery, and Tianhua New Energy, amounting to net financing of 650 million, 600 million, and 480 million respectively [5] - Other stocks like Tengjing Technology, Jianglong Shipbuilding, Pinggao Co., and Haike Xinyuan also experienced net purchases exceeding 100 million [5]