Investment Rating - The report gives a "Positive" rating for the computer industry, expecting the industry index to outperform the market index by over 5% in the next six months [33]. Core Insights - The computer industry index rose by 3.82% from January 12 to January 16, outperforming the CSI 300 index by 4.39 percentage points, making it the top-performing sector among other industries [2][11]. - Key stocks that performed well include Tongda Hai with a 39.73% increase, Haohan Deep with a 30.57% increase, and Jiechuang Intelligent with a 28.95% increase. Conversely, *ST Lifang saw a decline of 33.66%, followed by Aerospace Information at -14.46% and Haixia Innovation at -13.40% [14][15]. - Significant developments include the announcement of the integration of Qianwen App into Alibaba's ecosystem, enabling AI-driven services for tasks like ordering food and booking flights [3][31]. Market Performance - The computer industry has a total of 335 listed companies, with 234 companies seeing a rise, accounting for 69.85% of the sector [14]. - The report highlights the performance of individual stocks, with notable gains and losses during the specified period [15]. Recent Developments - Elon Musk announced the open-sourcing of the latest recommendation algorithm for X, promising updates every four weeks [3]. - Apple and Google have entered a partnership where Google's Gemini will support Apple's AI initiatives, with Apple expected to pay around $1 billion annually for this technology [18][19]. - Meta's CEO Mark Zuckerberg announced the Meta Compute initiative, aiming to build a GW-level AI infrastructure over the next decade [21][22]. - The U.S. has relaxed export controls on NVIDIA's H200 chips to China, which is expected to restart shipments to Chinese customers [24].

格隆汇1月21日丨浩瀚深度(688292.SH)在投资者互动平台表示，与一苇宇航太空算力合作：该合作充分 发挥双方优势：一苇宇航提供星载服务器、计算单元等核心硬件及在轨算力系统能力；浩瀚深度则依托 在数据交换、智能算法及金融、通信等行业场景的资源积累，提供星地融合数据交换系统与应用验证支 持。双方将以联合实验室为长期平台，共同打造太空算力标杆案例，构建开放产业生态。 关于公司的 AI鉴伪业务：公司作为国内网络可视化与AI鉴伪领域的先行者，自主研发的数字内容深度伪造检测系 统已通过中国信通院首批深度合成鉴伪检测能力认证，覆盖22类生成模型检测能力。2025年一季度，子 公司国瑞数智的鉴伪系统在信通院安全所测试中获评视频及音频鉴伪"双优秀级"（目前同行业极少数获 此殊荣），并已成功中标江西电信AI鉴伪平台项目，实现商业化突破。 关于L3无人驾驶车路云业务： 公司通过子公司智联云安构建"云-网-端"一体化安全防护体系，公司牵头并参与了中国通信标准委 （CCSA）多项车联网安全标准的制定。技术方面，基于"小模型+大模型+RAG"技术架构的车路云智能 体1.0方案已在北京市高级别自动驾驶示范区落地试用，提供交通态势分析 ...

Core Viewpoint - The collaboration between Haohan Deep (688292.SH) and Yiwei Aerospace focuses on leveraging each other's strengths in space computing capabilities and data exchange systems, aiming to create a benchmark case in space computing and build an open industrial ecosystem [1] Group 1: Collaboration and Technology Development - The partnership involves Yiwei Aerospace providing core hardware such as onboard servers and computing units, while Haohan Deep contributes its expertise in data exchange and intelligent algorithms [1] - A joint laboratory will serve as a long-term platform for both companies to work together on space computing projects [1] Group 2: AI Forgery Detection Business - Haohan Deep is a pioneer in the field of network visualization and AI forgery detection, with its self-developed digital content deep forgery detection system certified by the China Academy of Information and Communications Technology (CAICT) [1] - The system covers detection capabilities for 22 types of generative models and has achieved "double excellent" ratings in video and audio forgery detection [1] - The company has successfully won a bid for the AI forgery platform project with Jiangxi Telecom, marking a commercial breakthrough [1] Group 3: L3 Autonomous Driving Cloud Business - Through its subsidiary, Zhiliang Cloud Security, the company is building an integrated security protection system for autonomous driving [1] - The company has led and participated in the formulation of multiple vehicle networking security standards under the China Communications Standards Association (CCSA) [1] - The vehicle-road-cloud intelligent system 1.0, based on a "small model + large model + RAG" architecture, has been trialed in high-level autonomous driving demonstration areas in Beijing, providing data intelligence services such as traffic situation analysis and signal light anomaly detection [1] Group 4: Business Outlook - The company is actively exploring emerging business opportunities while noting that these new ventures are still in their early stages and currently represent a small proportion of overall performance [1]

Market Overview - The computer equipment sector experienced a decline of 1.7% on January 20, with Haohan Deep leading the drop [1] - The Shanghai Composite Index closed at 4113.65, down 0.01%, while the Shenzhen Component Index closed at 14155.63, down 0.97% [1] Stock Performance - Notable gainers in the computer equipment sector included: - Langke Technology (300042) with a closing price of 31.12, up 4.99% and a trading volume of 329,500 shares, totaling 1.021 billion yuan [1] - Suzhou Keda (603660) closed at 11.57, up 3.77% with a trading volume of 408,400 shares, totaling 468 million yuan [1] - Significant decliners included: - Haohan Deep (688292) with a closing price of 31.70, down 10.55% and a trading volume of 161,000 shares, totaling 528 million yuan [2] - Chunzong Technology (603516) closed at 210.15, down 10.00% with a trading volume of 82,900 shares, totaling 1.77 billion yuan [2] Capital Flow - The computer equipment sector saw a net outflow of 2.857 billion yuan from institutional investors, while retail investors experienced a net inflow of 1.779 billion yuan [2] - The capital flow for individual stocks showed: - Langke Technology had a net inflow of 81.563 million yuan from institutional investors, while retail investors had a net outflow of 84.839 million yuan [3] - Suzhou Keda experienced a net inflow of 57.961 million yuan from institutional investors, with a net outflow of 54.479 million yuan from retail investors [3]

Core Insights - The strategic cooperation between Haohan Deep and Yiyu Aerospace aims to establish a joint laboratory focused on the development of space computing infrastructure and application ecosystems [1][2] - The collaboration will emphasize high-performance computing on satellites, 6G integrated communication, and intelligent application scenarios, facilitating technological and industrial synergy [1][2] Group 1 - The joint laboratory will serve as the core platform for collaborative innovation, with both companies deploying key R&D teams to work on space computing system architecture and integrated data exchange [2] - Yiyu Aerospace will focus on core hardware products such as space servers and satellite computing units, while Haohan Deep will leverage its strengths in data exchange and intelligent data processing [2] - The partnership aims to develop a "Space Intelligent Computing Switch" and a "Computing Constellation Digital Platform" to achieve deep integration of communication and computing networks [2] Group 2 - This strategic cooperation signifies a substantial step towards the integration of data intelligence and space computing technologies, with the potential to create standardized and scalable solutions [2] - The joint laboratory is expected to generate demonstrative effects in the standardization and application of space computing systems, promoting the overall upgrade of China's space computing infrastructure and satellite intelligence industry ecosystem [2][3] - The long-term collaboration will focus on expanding the application scenarios of space computing in communication and industry, aiming to create influential benchmark cases in the sector [3]

Group 1 - The core viewpoint of the news is the strategic partnership between Beijing Haohan Deep Information Technology Co., Ltd. and Yiyu Aerospace (Beijing) Technology Co., Ltd. to establish a joint laboratory focused on space computing infrastructure and application ecosystem development [1][2] - The collaboration will emphasize high-performance computing on satellites, 6G integrated communication, and intelligent application scenarios, aiming to accelerate the engineering and scaling of space computing capabilities [1] - Yiyu Aerospace will invest in core hardware products such as space servers and satellite computing units, while Haohan Deep will leverage its advantages in data exchange and intelligent data processing to support the integration of ground and space data systems [1] Group 2 - This strategic cooperation signifies a substantial integration of data intelligence and space computing technologies, potentially leading to standardized and scalable applications in space computing systems [2] - The joint laboratory mechanism is expected to create a demonstrative effect for replicable and promotable space computing solutions, contributing to the overall upgrade of China's space computing infrastructure and satellite intelligence industry ecosystem [2]

Market Performance - The Sci-Tech Innovation Board (STAR Market) index rose by 1.35%, closing at 1514.07 points, with a total trading volume of 6.346 billion shares and a turnover of 345.756 billion yuan, resulting in a weighted average turnover rate of 3.23% [1][4]. - Among the tradable stocks on the STAR Market, 379 stocks closed higher, with 16 stocks increasing by over 10%, including Meier Technology, Tianyue Advanced, and Yongxi Electronics, which hit the daily limit [5][6]. - The distribution of turnover rates shows that 2 stocks had turnover rates exceeding 20%, 37 stocks had rates between 10% and 20%, and 130 stocks had rates between 5% and 10% [6]. Stock Highlights - The stock with the highest turnover rate was Hengkang New Materials, which closed up by 4.36% with a turnover rate of 34.78% and a transaction amount of 1.174 billion yuan [6][8]. - Other notable stocks included Haohan Depth, which rose by 3.22% with a turnover rate of 23.79%, and Xigao Institute, which increased by 19.50% with a turnover rate of 19.99% [6][8]. Sector Analysis - In terms of sector performance, the electronics sector had the most stocks with a turnover rate exceeding 5%, totaling 62 stocks, followed by the computer and machinery equipment sectors with 30 and 20 stocks, respectively [2][6]. Fund Flow - Among high turnover stocks, 92 stocks experienced net inflows of main funds, with the highest net inflows seen in Lanke Technology, Huahong Company, and Bawei Storage, amounting to 552 million yuan, 544 million yuan, and 386 million yuan, respectively [7]. - Conversely, the stocks with the largest net outflows included Chengdu Xiandao, Zhongke Xingtai, and Zhuoyi Information, with net outflows of 260 million yuan, 190 million yuan, and 179 million yuan, respectively [7]. Leverage Fund Movements - A total of 108 high turnover stocks received net purchases of leveraged funds, with significant increases in financing balances for Bawei Storage, Western Superconducting, and Shijia Photon, which increased by 500 million yuan, 391 million yuan, and 357 million yuan, respectively [7].

Investment Rating - The report assigns a "Buy" rating for the company, marking its first coverage [2][11]. Core Insights - The company is positioned as a leader in network visualization and data intelligence, with a strategic focus on AI implementation that opens up long-term growth potential [3]. - The acquisition of a 35% stake in Yunbianyun signifies the company's commitment to deepening its AI strategy, expanding its capabilities across various core industries such as retail, manufacturing, and healthcare [8]. - The company has established a robust foundation in DPI (Deep Packet Inspection) technology, which enhances its security capabilities and positions it as a benchmark for domestic intelligent defense solutions [4]. - The company is actively involved in the automotive internet security sector, benefiting from advancements in autonomous driving technologies [5]. - The company is also participating in the commercialization of satellite communications, which is expected to accelerate its growth as a supplier in this emerging ecosystem [6]. Financial Summary - The company is projected to achieve revenues of 497 million, 594 million, and 704 million yuan for the years 2025, 2026, and 2027, respectively, with year-on-year growth rates of 12.39%, 19.44%, and 18.53% [11][13]. - Basic earnings per share (EPS) are expected to be 0.25, 0.51, and 0.78 yuan for the same years, corresponding to price-to-earnings (PE) ratios of 125.45, 60.84, and 39.77 [11][13]. - The company maintains a low debt-to-asset ratio of 18.5%, indicating a strong financial position [2].

Core Viewpoint - The stock of Beijing Haohan Deep Information Technology Co., Ltd. experienced an abnormal trading fluctuation with a cumulative closing price increase of over 30% during three consecutive trading days in January 2026, prompting an inquiry into the reasons behind this volatility [1][3]. Group 1: Stock Trading Abnormalities - The company's stock price increased by over 30% cumulatively on January 12, 13, and 14, 2026, which is classified as an abnormal trading fluctuation according to the Shanghai Stock Exchange regulations [1][3]. - The company conducted a self-examination and inquired with its controlling shareholders and actual controllers, confirming that there are no undisclosed significant matters affecting the stock price [5]. Group 2: Financial Performance - For the first three quarters of 2025, the company reported an operating income of 248.6174 million yuan, a year-on-year decrease of 21.51% [3]. - The net profit attributable to shareholders was -9.1819 million yuan, representing a year-on-year decline of 124.88% [3]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -16.4844 million yuan, down 155.93% year-on-year [3]. Group 3: AI Business Development - The company's AI application business in the financial sector has not yet generated revenue, as it is still in the early stages of market expansion and faces intense competition [3]. - The existing AI products may contribute uncertainly to the company's performance due to rapid technological updates [3]. Group 4: Acquisition Announcement - The company announced the acquisition of Cloud Edge Cloud Technology (Shanghai) Co., Ltd., which is currently in the delivery phase, and formal business cooperation has not yet commenced [2][4]. - The integration of "cloud network + AI + security" solutions is still in the planning stage, and the related technology solutions, application scenarios, and market benefits are uncertain and have not significantly impacted the company's performance [2][4].

Core Viewpoint - The stock of Beijing Haohan Depth Information Technology Co., Ltd. experienced an abnormal trading fluctuation, with a cumulative closing price increase of over 30% over three consecutive trading days, prompting an inquiry into the reasons behind this volatility [2][4]. Group 1: Stock Trading Abnormality - The company's stock price increased by over 30% cumulatively on January 12, 13, and 14, 2026, which is classified as an abnormal trading fluctuation according to the Shanghai Stock Exchange regulations [2][4]. - The company conducted a self-examination and inquired with its controlling shareholder and actual controller, confirming that there are no undisclosed significant matters as of the announcement date [2][5]. Group 2: Financial Performance - For the first three quarters of 2025, the company reported an operating income of 248.62 million yuan, a year-on-year decrease of 21.51%, and a net profit attributable to shareholders of -9.18 million yuan, a decline of 124.88% [2][5]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -16.48 million yuan, representing a year-on-year decrease of 155.93% [2][5]. Group 3: AI Business Development - The company's AI application business in the financial sector has not yet generated revenue, as it is still in the early stages of market expansion and faces intense competition due to rapid technological updates [2][5]. - The company is in the process of acquiring Yunbian Cloud Technology (Shanghai) Co., Ltd., with plans to develop an integrated solution of "cloud network + AI + security," although this initiative is still in the planning stage and has not yet impacted the company's performance significantly [3][6]. Group 4: Confirmation of No Major Events - The company confirmed that there are no undisclosed significant events that could affect the stock price, including major asset restructuring, debt restructuring, or other significant matters [6][9]. - There have been no media reports or market rumors identified that could significantly impact the company's stock trading price [7].