Group 1 - The Shanghai Stock Exchange Sci-Tech Innovation Board Artificial Intelligence Index rose by 1.48%, with notable increases in component stocks such as Yuntian Lifei (up 6.34%), Cambricon (up 3.74%), and Chipone (up 3.47%) [3] - The Sci-Tech AI ETF (588790) increased by 1.56%, with a latest price of 0.85 yuan, and has seen a cumulative increase of 8.16% over the past week, ranking 3rd among comparable funds [3] - The trading volume of the Sci-Tech AI ETF reached 1.63 billion yuan with a turnover rate of 2.13%, and the average daily trading volume over the past month was 9.16 billion yuan, ranking first among comparable funds [3] Group 2 - At the 2025 Global AI Chip Summit, representatives from academia, industry, and venture capital discussed the development prospects of the AI chip industry, highlighting the rapid advancements in software applications and underlying chip technologies [3] - The AI glasses industry is expected to grow significantly, with Meta's new smart glasses featuring a built-in display set to launch on September 30, and strong growth reported for Ray-Ban Meta glasses and Xiaomi AI glasses [4] - The Sci-Tech AI ETF has seen a significant increase in scale, growing by 4.127 billion yuan over the past three months, and an increase of 2.961 billion shares, both ranking first among comparable funds [4] Group 3 - The top ten weighted stocks in the Sci-Tech Innovation Board AI Index include Cambricon, Lanke Technology, and Chipone, collectively accounting for 71.66% of the index [5]

Core Insights - The 2025 Global AI Chip Summit (GACS 2025) highlighted a significant shift in AI development, moving from training to application reasoning by 2025 [1] - The next 5 to 10 years are expected to be a balanced era of both AI training and AI reasoning [1] Company Insights - CloudWalk Technology's Chairman Chen Ning emphasized the importance of this transition during the summit [1]

Core Insights - On September 17, Yuntian Lifei executed a block trade of 40,000 shares, amounting to 2.8872 million yuan, which represented 0.19% of the total trading volume for that day [1][2] - The transaction price was 72.18 yuan, reflecting a discount of 18.39% compared to the market closing price of 88.44 yuan [1] Summary by Categories - **Transaction Details** - The block trade involved 40,000 shares at a price of 72.18 yuan per share [1] - The total transaction value was 2.8872 million yuan [1] - This trade accounted for 0.19% of the total trading volume on that day [1] - **Market Context** - The transaction price was significantly lower than the market closing price, indicating a discount of 18.39% [1]

Group 1 - The stock of Yuntian Lifei increased by 2.86%, closing at 90.22 yuan, with a significant block trade of 29,000 shares amounting to 2.0349 million yuan [1] - The first transaction price was 70.17 yuan for 29,000 shares, resulting in a premium rate of -22.22%, with the buyer being an institutional investor and the seller being First Capital Securities Co., Ltd. [1] - Over the past three months, Yuntian Lifei has recorded 49 block trades with a total transaction amount of 176 million yuan, and in the last five trading days, the stock has risen by 11.69% with a net inflow of 273 million yuan from main funds [1]

| 交易日期 | | 证券代码 | 成交价(元) 成交盘额(万元) 成交量(*) 买入营业部 | | | 要出营业部 | 是否为变场 | | --- | --- | --- | --- | --- | --- | --- | --- | | 2025-09-16 | 云天勘飞 | 688343 | 70.17 203.49 | 2.9 | 机构专用 | 第一创业证券股份 有限公司深圳金田 | Neg | 9月16日，云天励飞大宗交易成交2.9万股，成交额203.49万元，占当日总成交额的0.11%，成交价70.17 元，较市场收盘价90.22元折价22.22%。 ...

Core Viewpoint - The demand for AI inference chips is expected to surge by 2025, driven by the rise of open-source large models, positioning Yuntian Lifei (688343.SH) at the forefront of this trend [1][3]. Industry Insights - The AI development landscape comprises six key elements: algorithms, chips, talent, applications, data, and systems, with the most significant gap between China and the US being in AI chips [3]. - Recent statements from industry experts suggest that the technological gap in AI development between China and the US has narrowed to as little as three months, particularly in open-source model development [3][4]. - The Chinese AI chip market is projected to reach a scale of 153 billion yuan by 2025, with a significant increase in domestic brand penetration expected [4]. Company Strategy - Yuntian Lifei focuses on a differentiated path compared to Nvidia's GPGPU, emphasizing cost efficiency in AI inference chips rather than speed in training chips [4]. - The company believes that the effective number of tokens processed is a critical metric for evaluating the cost-performance ratio of inference chips [4]. Market Dynamics - AI inference chips are categorized into three types: cloud inference chips, edge inference chips, and terminal inference chips, with a consensus that cloud inference chips will play a central role in AI development [5]. - The future of AI inference is expected to involve a coexistence of cloud, edge, and terminal solutions, similar to an electricity system [5].

中信证券股份有限公司 关于深圳云天励飞技术股份有限公司 2025 年半年度持续督导跟踪报告 中信证券股份有限公司（以下简称"中信证券"或"保荐人"）作为深圳云 天励飞技术股份有限公司（以下简称"云天励飞"、"公司"或"上市公司"） 首次公开发行股票并在科创板上市的保荐人，根据《证券发行上市保荐业务管理 办法》《上海证券交易所科创板股票上市规则》等相关规定，中信证券履行持续 督导职责，并出具本半年度持续督导跟踪报告。 一、持续督导工作概述 1、保荐人制定了持续督导工作制度，制定了相应的工作计划，明确了现场 检查的工作要求。 2、保荐人已与公司签订保荐协议，该协议已明确了双方在持续督导期间的 权利义务，并报上海证券交易所备案。 3、本持续督导期间，保荐人通过与公司的日常沟通、现场回访等方式开展 持续督导工作，并于 2025 年 8 月 25 日至 8 月 29 日和 2025 年 9 月 1 日现场查看 了公司经营和募投项目实施情况。 4、本持续督导期间，保荐人根据相关法规和规范性文件的要求履行持续督 导职责，具体内容包括： （1）查阅公司章程、三会议事规则等公司治理制度、三会会议材料； （2）查阅公司募集资金管 ...

Core Insights - The 21st Summer Annual Meeting of the 2025 Yabuli Entrepreneur Forum opened in Guangzhou, focusing on the future direction of China's economy and high-quality development of enterprises [2] - The theme of the forum is "Forging Ahead Steadily in a New Global Context," addressing the challenges and opportunities faced by enterprises in a volatile domestic and international market [2] Group 1: Key Themes and Discussions - The forum emphasizes the significant achievements of the "14th Five-Year Plan" in various fields, including economic development, social welfare, green ecology, and digital economy [2] - Future challenges include the acceleration of AI, technological innovation, green development, digital transformation, and the reshaping of industrial and supply chains [2] - The forum aims to explore pathways for enterprises to thrive amidst these changes, encouraging collaboration and resource sharing among entrepreneurs [3][4] Group 2: Government and Business Perspectives - Government officials highlighted the importance of private enterprises in driving economic growth and urged entrepreneurs to leverage local resources for new opportunities [3][4] - Guangzhou is positioned as a core engine of the Guangdong-Hong Kong-Macao Greater Bay Area, with initiatives to enhance its industrial system and create a favorable business environment [4][10] Group 3: Entrepreneurial Insights - Entrepreneurs discussed the evolution of the Yabuli Forum, emphasizing the integration of globalization, the internet, and AI in shaping the future of business [7] - The challenges posed by the AI revolution were highlighted, with a focus on the need for Chinese entrepreneurs to navigate unique global dynamics [7][8] - The importance of transitioning to a new economic model driven by AI and technology was underscored, with calls for collaboration between generations of entrepreneurs [8] Group 4: Sector-Specific Innovations - The forum featured discussions on the role of AI in various industries, including transportation, healthcare, and technology, emphasizing the need for specialized models and data accuracy [21][24] - The significance of AI chips and their development as a critical factor for China's advancement in the global AI landscape was also addressed [24]

Core Viewpoint - The company, Shenzhen Yuntian Lifi Technology Co., Ltd., is set to hold a half-year performance briefing on September 22, 2025, to discuss its operational results and financial status for the first half of 2025, allowing investors to engage and ask questions [2][3][5]. Group 1 - The performance briefing will take place from 10:00 to 11:00 AM on September 22, 2025, at the Shanghai Stock Exchange Roadshow Center [5][6]. - Investors can submit questions from September 15 to September 19, 2025, through the Shanghai Stock Exchange Roadshow Center website or via the company's email [2][7]. - The briefing will be conducted in an interactive online format, enabling real-time communication between the company and investors [3][4]. Group 2 - Key personnel attending the briefing include the Chairman and General Manager, Mr. Chen Ning, and the Director and Chief Financial Officer, Mr. Deng Haoran [6]. - After the briefing, investors can access the main content and details of the event through the Shanghai Stock Exchange Roadshow Center [7].

证券代码：688343 证券简称：云天励飞 公告编号：2025-054 投资者可于 2025 年 9 月 15 日(星期一)至 9 月 19 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 ir@intellif.com 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。 深圳云天励飞技术股份有限公司（以下简称"公司"）已于 2025 年 8 月 27 日发布公司 2025 年半年度报告，为便于广大投资者更全面深入地了解公司 2025 年上半年的经营成果、财务状况，公司计划于 2025 年 9 月 22 日上午 10:00-11:00 举行 2025 年半年度业绩说明会，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 年上半年的经营 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 深圳云天励飞技术股份有限公司 关于召开 2025 年半年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 ...