Core Insights - The DRG/DIP concept increased by 1.00%, ranking 10th among concept sectors, with 11 stocks rising, including Jiarun Technology which hit a 20% limit up [1] - Major gainers in the sector included Jiahe Meikang, Wanda Information, and Taiji Co., with respective increases of 3.68%, 3.08%, and 2.98% [1] - The sector experienced a net outflow of 229 million yuan, with 10 stocks seeing net inflows, and Wanda Information leading with a net inflow of 65.92 million yuan [2][3] Sector Performance - The top-performing concept sectors included Rare Earth Permanent Magnet (+3.24%), Brain-Computer Interface (+2.69%), and Hyperbaric Oxygen Chamber (+2.56%), while the weight-loss drug sector saw a decline of -1.70% [2] - The DRG/DIP concept had a net inflow ratio led by Wanda Information at 10.09%, followed by ST Yilianzhong at 5.78% and Taiji Co. at 4.82% [3][4] Stock Specifics - Key stocks in the DRG/DIP concept included: - Wanda Information: +3.08%, net inflow of 65.92 million yuan, turnover rate of 5.34% [3] - Weining Health: +1.72%, net inflow of 62.81 million yuan, turnover rate of 6.37% [3] - Taiji Co.: +2.98%, net inflow of 42.14 million yuan, turnover rate of 5.36% [3] - Notable declines were seen in stocks like Maidi Technology (-2.61%) and Seli Medical (-2.32%), with significant net outflows [4]

证券代码：688579 证券简称：山大地纬 公告编号：2025-016 山大地纬软件股份有限公司 关于董事会、监事会延期换届及部分独立董事任期届满 的提示性公告 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、准确性和完整性依法承担法律责任。 生、王腾蛟先生在担任公司独立董事期间恪尽职守、勤勉尽责，为公司的规范运 作和健康发展发挥了积极作用。在此，公司及董事会对李文峰先生、王腾蛟先生 在任职期间为公司做出的贡献表示衷心感谢！ 在换届选举工作完成前，公司第四届董事会、监事会、董事会各专门委员会、 执行委员会成员及高级管理人员将依照相关法律法规和《公司章程》等规定继续 履行相应的义务和职责。 公司董事会、监事会延期换届不会影响公司的正常运营。公司将积极推进相 关工作，尽快完成换届选举工作，并及时履行信息披露义务。 二、公司部分独立董事任期届满 根据《公司法》《上市公司独立董事管理办法》《公司章程》等有关规定，上 市公司独立董事占董事会成员的比例不得低于三分之一，且独立董事在上市公司 连续任职时间不得超过六年。 公司独立董事李文峰先生、王腾蛟先生任期将届满且连任 ...

Investment Rating - The report maintains a "Positive" investment rating for the computer industry, specifically focusing on Real World Assets (RWA) [4] Core Insights - RWA represents a transformative innovation in financial technology by converting real-world assets into digital assets on the blockchain, potentially leading to exponential growth in the sector [2][6] - The global RWA asset market reached $24.5 billion as of June 2025, with projections to exceed $16 trillion by 2030, indicating a significant opportunity for investment [6][18] - The report emphasizes the importance of regulatory frameworks being established globally to support the growth of RWA, with regions like Hong Kong and the EU leading the way [26][30] Summary by Sections RWA: Connecting Real World Assets to Blockchain - RWA involves the tokenization of tangible and intangible assets through blockchain technology, enhancing liquidity and reducing transaction costs [11][12] - The RWA market is rapidly expanding, with a diverse range of assets including real estate, bonds, and commodities being tokenized [15][16] RWA Issuance Process and Regulatory Framework - The RWA issuance process consists of five key steps: asset selection, legal and compliance framework establishment, technology implementation, token issuance, and ongoing management [21][23] - Various countries are developing regulatory frameworks for RWA, with Hong Kong adopting a sandbox approach to foster innovation while ensuring compliance [26][30] Expansion of Asset Classes and RWA Market - RWA assets can be categorized into cash flow, equity, and non-cash flow assets, with credit and bonds currently leading the market [35][36] - The report highlights the significant growth potential in the RWA sector, particularly in tokenized real estate and securities, which are becoming increasingly popular [46][53] RWA Industry Ecosystem - The RWA ecosystem is forming a collaborative industry chain involving asset providers, technology firms, platforms, compliance custodians, and investors [4][6] - Key players in the blockchain and fintech sectors are recommended for investment, including companies like 恒生电子 and 新国都 [2][6]

Market Performance - As of July 11, the DRG/DIP concept increased by 2.41%, ranking 9th among concept sectors, with 22 stocks rising, including Jiahe Meikang, Weining Health, and Shanda Diwei, which rose by 5.89%, 5.58%, and 4.94% respectively [1] - The top-performing concept sectors today include Rare Earth Permanent Magnet at 5.64% and MLOps at 3.05%, while sectors like Housing Inspection and PCB saw declines of -1.47% and -1.17% respectively [2] Capital Flow - The DRG/DIP concept sector experienced a net inflow of 141 million yuan, with 11 stocks receiving net inflows, and 6 stocks seeing inflows exceeding 10 million yuan. Weining Health led with a net inflow of 190 million yuan, followed by Di'an Diagnosis, Shanda Diwei, and Donghua Software with net inflows of 25.57 million yuan, 20.81 million yuan, and 15.27 million yuan respectively [2] - In terms of capital inflow ratios, Weining Health, Shanda Diwei, and Di'an Diagnosis had the highest net inflow rates at 14.80%, 9.93%, and 7.13% respectively [3] Stock Performance - The top stocks in the DRG/DIP concept based on today's performance include: - Weining Health: 5.58% increase, 6.57% turnover rate, 189.87 million yuan net inflow, 14.80% net inflow ratio - Di'an Diagnosis: 2.23% increase, 4.75% turnover rate, 25.57 million yuan net inflow, 7.13% net inflow ratio - Shanda Diwei: 4.94% increase, 4.32% turnover rate, 20.81 million yuan net inflow, 9.93% net inflow ratio [3][4]

Investment Rating - The investment rating for the company is "Buy" and is maintained [1]. Core Viewpoints - The report highlights the strategic acquisition of Shandong High-Speed Group as the new controlling shareholder, which is expected to break through growth barriers and enhance the company's market position in the integrated "smart transportation-low altitude-data" sector [1][11]. - The company is positioned as a leading "AI + blockchain" technology service provider, leveraging over 30 years of industry experience to develop advanced products and solutions, particularly in smart social security, healthcare, and energy management [8][19]. - The report emphasizes the potential for growth through collaboration with Shandong High-Speed Group, which has a robust infrastructure and extensive market reach, thereby opening new business avenues in smart transportation and energy information [19][24]. Summary by Sections 1. Change of Control and Growth Potential - The change in controlling shareholder to Shandong High-Speed Group, which now holds 24.59% of shares, is expected to provide new growth opportunities and resources for the company [10][11]. - The company's revenue for 2024 is projected at 555 million yuan, with a slight increase of 3.14%, while the net profit is expected to be 64.08 million yuan [19]. - The report notes a significant increase in revenue from markets outside the province, which grew by 29.90% year-on-year [8]. 2. Shandong High-Speed Group's Business Layout - Shandong High-Speed Group operates over 9,070 kilometers of highways, managing significant traffic and leading in various sectors including smart transportation and renewable energy [24][31]. - The group has developed advanced smart traffic solutions, including over 3,200 million ETC users and a transaction volume exceeding 100 billion yuan annually [24][31]. - The report outlines the group's initiatives in low-altitude economy and green energy, including plans to deploy 22,000 aircraft for logistics and emergency services [26]. 3. Collaboration Opportunities - The report identifies potential synergies between the company and Shandong High-Speed Group in areas such as smart transportation, digital payment systems, and energy management [33]. - The collaboration could enhance the efficiency of highway management and expand the application of AI and blockchain technologies in various operational scenarios [33]. - The integration of data management capabilities from the company with the extensive data resources of Shandong High-Speed Group is expected to drive innovation and operational efficiency [33].

Summary of the Conference Call for Shandong Dadiwei Company and Industry Overview - **Company**: Shandong Dadiwei (山大地纬) - **Parent Company**: Shandong High-Speed Group (山东高速集团) - **Industry**: Information Technology, Smart Transportation, Low-altitude Economy, Data Elements, Energy Informatization Key Points and Arguments - **Strategic Acquisition**: Shandong High-Speed Group's acquisition of Shandong Dadiwei is expected to significantly expand its business boundaries, positioning it as a leader in smart transportation, low-altitude economy, data elements, and energy informatization [2][4][5] - **Revenue and Profit Projections**: Shandong Dadiwei's revenue is projected to remain between 450 million to 650 million from 2021 to 2024, with net profits fluctuating between 60 million to 80 million. The gross margin is stable at 52% [2][7] - **Cost Structure**: The primary expenditure for Shandong Dadiwei is human resources, raising concerns about whether the company can overcome revenue bottlenecks post-acquisition [2] - **Core Business Areas**: Shandong Dadiwei focuses on AI and blockchain technologies, with key business areas including smart social security, smart government, smart healthcare, and smart electricity informatization [3] - **Data Element Revenue**: The company aims to achieve data element revenue of 30 million in 2024, with AI-related contracts nearing 88 million [2][11] Additional Important Insights - **Impact of Acquisition**: The acquisition is expected to enable Shandong Dadiwei to break through traditional business models and expand into new areas, with mid-term revenue projections exceeding 1 billion, reaching between 2 billion to 3 billion, and net profits of 400 million to 500 million [4][22] - **Shandong High-Speed Group's Assets**: The group has total assets of 1.63 trillion, managing nearly 9,000 kilometers of highways, and is transitioning towards smart transportation and digital platforms [12] - **Collaborative Synergies**: The collaboration between Shandong Dadiwei and Shandong High-Speed Group will enhance digital capabilities across various sectors, including smart transportation and energy informatization [9][13] - **Future Growth Areas**: Shandong Dadiwei is expected to explore new markets such as smart transportation and agricultural informatization, which have significant growth potential [22] - **Technological Advantages**: Both Shandong Dadiwei and its subsidiary, Ouma Software, possess strong technological capabilities, particularly in data elements, AI, and blockchain, with gross margins typically between 40% to 50% [20] Conclusion - **Investment Recommendation**: The strategic partnership between Shandong Dadiwei and Shandong High-Speed Group is anticipated to create substantial growth opportunities, making it a compelling investment prospect in the context of Shandong's economic transformation [14][18]

证券代码：688579 证券简称：山大地纬 公告编号：2025-015 山大地纬软件股份有限公司 关于山东山大资本运营有限公司筹划转让公司股权的提示 性公告 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、准确性和完整性依法承担法律责任。 重要提示：本公司控股股东山东山大资本运营有限公司拟将其持有的公司 24.59%股份无偿划转给山东高速集团有限公司，双方签署了股权划转意向性协 议，该事项可能导致公司控股股东、实际控制人发生变动。本次签署的意向性协 议系各方就股权划转事宜达成的初步意向协议，具体事宜尚待进一步协商、推进 和落实，并需各方有权监管机构审批通过。本事项实施过程中尚存在不确定性因 素，最终能否达成也存在不确定性。敬请广大投资者谨慎决策，注意投资风险。 一、基本情况 山大地纬软件股份有限公司（简称"山大地纬"或"公司"）于2025年4月发 布了《山大地纬软件股份有限公司关于山东大学筹划深化校属企业体制改革暨控 股股东、实际控制人可能发生变更的提示性公告》（公告编号：2025-003）。公司 于2025年6月27日收到控股股东山东山大资本运营有限公司 ...

Group 1 - The controlling shareholder of the company, Shandong Shanda Capital Operation Co., Ltd., plans to transfer 24.59% of its shares in the company to Shandong Expressway Group Co., Ltd. without compensation [1] - An intention agreement for the share transfer has been signed between the two parties [1] - This transaction may lead to a change in the company's controlling shareholder and actual controller [1]

Core Points - The company announced a cash dividend distribution of RMB 0.065 per share, totaling RMB 26,000,650.00 based on a total share capital of 400,010,000 shares [1] - The profit distribution plan was approved at the annual shareholders' meeting held on May 9, 2025 [1] - The relevant dates for the dividend distribution include the record date, ex-dividend date, and payment date, which are specified in the announcement [1] Dividend Distribution Details - The cash dividend of RMB 0.065 per share is inclusive of tax [1] - For individual shareholders holding shares for more than one year, the dividend income is exempt from personal income tax [2] - The actual cash dividend received by shareholders holding shares for less than one month is subject to a 20% tax, while those holding for one month to one year are taxed at 10% [3] - For qualified foreign institutional investors (QFII), a 10% withholding tax applies, resulting in a net dividend of RMB 0.0585 per share [4] - Hong Kong investors holding shares through the "Shanghai-Hong Kong Stock Connect" will also receive a net dividend of RMB 0.0585 per share after a 10% withholding tax [4]

Core Viewpoint - The report highlights the potential growth opportunities for Shanda Diwei following the change in its actual controller, emphasizing its leadership in the "AI + Blockchain" sector and the expected positive impact on revenue growth [2][3][8]. Group 1: Company Overview - Shanda Diwei is a leading "AI + Blockchain" technology service provider in China, affiliated with Shandong University, focusing on deep integration of production, education, and research [2]. - The company is advancing in key business areas such as smart social security, smart healthcare, and intelligent electricity, while enhancing its AI technology research and product development [2]. - In 2024, the company is projected to achieve revenue of 555 million yuan, a 3.14% increase year-on-year, but its net profit is expected to decline by 21.04% to 64.08 million yuan due to increased costs and R&D expenses [2]. Group 2: Strategic Developments - The company announced a potential change in its controlling shareholder and actual controller as part of a broader reform initiative by Shandong University, which could open new business avenues and enhance revenue growth prospects [3]. - Shanda Diwei is leveraging its core technologies to develop a new product system that supports data circulation and utilization, including four major core products and solutions [4]. Group 3: AI and Blockchain Applications - The company is actively exploring AI and blockchain technologies, having developed a comprehensive product system that includes platforms for data governance and resource management [4]. - Shanda Diwei's AI initiatives include the development of a large model, DareWen, aimed at enhancing various business applications, with contracts worth 88 million yuan signed in 2024 [5][6]. Group 4: Investment Outlook - The earnings per share (EPS) forecasts for 2025, 2026, and 2027 are projected at 0.20, 0.25, and 0.27 yuan respectively, with corresponding price-to-earnings (PE) ratios of 54.65, 44.06, and 40.33 [8]. - The company maintains a "buy" rating, with expectations that the change in actual controller will inject new growth momentum and break through revenue growth ceilings [8].