Core Insights - Graph databases are emerging as a popular field in database technology, leveraging graph theory to represent, store, and query data, thus addressing complex data relationships and random access issues [1][2][11] - The Chinese graph database market is experiencing rapid growth, projected to reach 644 million yuan in 2024, with a year-on-year increase of 17% [1][11] - The market is becoming increasingly competitive, with a notable reduction in the number of players, indicating a trend towards market consolidation [1][15][19] Industry Overview - Graph databases are classified as NoSQL databases, designed to express relationships more intuitively, perform association analysis, and handle relationships efficiently [2][11] - The market for databases in China is expanding, with the overall database market expected to reach 59.616 billion yuan in 2024, reflecting a 14% growth [9][11] Market Dynamics - As of June 2025, there are 19 graph database products in China, a decrease of 10 from the previous year, indicating a consolidation trend in the market [15][19] - The top five players in the Chinese graph database market are Huawei Cloud, Hangzhou Yueshu, Chuanglin Technology, Xinghuan Technology, and Ant Group, collectively holding a market share of 25.4%, with Huawei Cloud leading at 11.7% [19] Future Trends - The integration of emerging technologies such as AI, IoT, and blockchain is expected to enhance graph database performance and scalability [21] - There is a movement towards unifying graph query languages, with the recent introduction of the GQL standard, which aims to lower the entry barrier for businesses adopting graph databases [24]

| 交易日期 | 证券简称 | 证券代码 | 成交价(元) 成交金额(万元) 成交量( * ) 买入营业部 | | | 卖出营业部 | | --- | --- | --- | --- | --- | --- | --- | | 2025-08-07 | 达梦数据 | 688692 | 230.38 2895.88 12.57 | 机构专用 | 中信证券股份有限 公司武汉建设大道 | | | | | | | | 江米吉山如 | | 8月7日，达梦数据大宗交易成交12.57万股，成交额2895.88万元，占当日总成交额的11.8%，成交价230.38元，较市场收盘价242.5元折价5%。 ...

Group 1 - On August 5, Dameng Data executed a block trade of 102,300 shares, with a transaction amount of 23.263 million yuan, accounting for 10.65% of the total transaction amount for the day [1] - The transaction price was 227.4 yuan, which represents a 5% discount compared to the market closing price of 239.37 yuan [1]

| 交易日期 | 证券简称 | 证券代码 | 成交价(元) 成交金额(万元) 成交量( * ) 买入营业部 | | | 卖出营业部 | | --- | --- | --- | --- | --- | --- | --- | | 2025-08-04 | 达梦数据 | 688692 | 机构专用 227.43 13.8 | 3138.53 | 中信证券股份有限 公司武汉建设大道 | | | | | | | | 江关市山切 | | 8月4日，达梦数据大宗交易成交13.8万股，成交额3138.53万元，占当日总成交额的11.45%，成交价227.43元，较市场收盘价239.4元折价5%。 ...

Group 1 - The establishment of Hainan Dameng International Data Technology Co., Ltd. has been officially registered with a capital of 20 million yuan [1] - The company's business scope includes information technology consulting services, network and information security software development, and manufacturing of computer hardware and peripheral devices [1] - Dameng Data (688692) holds 100% ownership of the newly established company [1]

Core Viewpoint - The emergence of "first stocks" in various sectors from Wuhan highlights the city's commitment to fostering innovation and creating a supportive ecosystem for technology-driven companies [5][12]. Group 1: First Stocks from Wuhan - The first domestic database stock, Dameng Data, was listed in June 2024 [1][17]. - The first esports stock, Xingjing Weiw, was listed in July 2024 on NASDAQ [2][19][20]. - The first interactive AI stock, Voicecom, was listed in July 2024 on the Hong Kong Stock Exchange [3][22][23]. - The first intelligent driving chip stock, Hezhima Intelligent, was listed in August 2024 on the Hong Kong Stock Exchange [4][26][27]. - The first intelligent time-series data stock, Yuanguang Technology, was listed in June 2024 [5]. Group 2: Investment Ecosystem in Wuhan - The government of Wuhan has established funds to support early-stage technology companies, focusing on "early investment, small investment, hard technology" [8]. - The Wuhan government aims to create a long-term investment environment, with funds having a maximum duration of 15 years to support startups through their development phases [10][12]. - The city plans to establish over 50 specialized technology financial institutions and increase the scale of equity investment funds to over 300 billion yuan by 2027 [13]. Group 3: Challenges and Support for Startups - Startups face significant challenges, including funding, talent, location, and market access, often referred to as the "valley of death" [10]. - The Wuhan government is working to improve the investment ecosystem by allowing for a certain level of loss in seed and angel funds, thus providing a safety net for investors [11]. - The focus is on nurturing small enterprises to grow into larger, sustainable businesses through patient capital and supportive policies [12][13].

证券代码：688692 证券简称：达梦数据 公告编号：2025-034 武汉达梦数据库股份有限公司 2025年第三次临时股东会决议公告 本公司董事会及全体董事保证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。 重要内容提示： 本次会议是否有被否决议案：无 一、 会议召开和出席情况 （四） 表决方式是否符合《公司法》及公司章程的规定，会议主持情况等。 本次会议由公司董事会召集，由董事长冯裕才先生主持，以现场投票与网络 投票相结合的方式进行表决。会议的召集和召开程序、出席会议人员的资格和召 集人资格、会议的表决程序和表决结果均符合与《公司法》及《公司章程》的规 定。 （一） 股东会召开的时间：2025 年 7 月 16 日 （二） 股东会召开的地点：湖北省武汉市东湖高新区高新大道 999 号未来科技 大厦 C3 栋武汉达梦数据库股份有限公司 1918 会议室 （三） 出席会议的普通股股东、特别表决权股东、恢复表决权的优先股股东及 其持有表决权数量的情况： | 1、出席会议的股东和代理人人数 | 121 | | --- | --- | | 普通股股东人数 ...

北京金杜（成都）律师事务所 关于武汉达梦数据库股份有限公司 2025 年第三次临时股东会的 2. 公司于 2025 年 6 月 30 日召开的第二届董事会第十二次会议决议； 法律意见书 致：武汉达梦数据库股份有限公司 北京金杜（成都）律师事务所（以下简称本所）接受武汉达梦数据库股份 有限公司（以下简称公司）委托，根据《中华人民共和国证券法》（以下简称《证 券法》）、《中华人民共和国公司法》（以下简称《公司法》）、中国证券监督管理 委员会《上市公司股东会规则》（以下简称《股东会规则》）等中华人民共和国 境内（以下简称中国境内，为本法律意见书之目的，不包括中国香港特别行政 区、中国澳门特别行政区和中国台湾省）现行有效的法律、行政法规、规章、 规范性文件（以下统称法律法规）和现行有效的《武汉达梦数据库股份有限公 司章程》（以下简称《公司章程》）有关规定，指派律师出席公司于 2025 年 7 月 16 日召开的公司 2025 年第三次临时股东会（以下简称本次股东会），并就本次 股东会相关事项出具本法律意见书。 3. 公司 2025 年 7 月 1 日刊登于上海证券交易所（以下简称上交所）网站 （网址：www.sse. ...

Investment Rating - The report maintains a positive outlook on the computer industry for Q2 2025, indicating an expected improvement in performance [2][4]. Core Insights - The report predicts a gradual recovery in industry profits starting from Q2 2025, with revenue growth rates of 5% and 21% for Q4 2024 and Q1 2025 respectively, and net profit growth rates of -68% and 82% [4][5]. - A total of 55 tracked A-share and Hong Kong-listed computer companies are analyzed, with 13 companies expected to achieve over 50% net profit growth, representing 23.6% of the sample [4][5]. - The report identifies key investment targets across various segments, including AIGC, digital economy leaders, and data innovation [4][5]. Summary by Category Company Performance Predictions - Companies with over 50% net profit growth include: - Jinzheng Co. (4493%) - Zhongke Chuangda (333%) - Zhina Zhen (313%) - Kalait (265%) - Hengsheng Electronics (233%) [4][5][6]. - Companies with 30%-50% net profit growth include: - Dameng Data (48%) - Fanwei Network (39%) - New Point Software (38%) [4][5][6]. - Companies with 0%-30% net profit growth include: - Dongfang Caifu (27%) - Haiguang Information (27%) - Desai Xiwai (27%) [4][5][6]. - Companies with -30% to 0% net profit growth include: - Weining Health (-4%) - Nova Star Cloud (-11%) [4][5][6]. - Companies with less than -30% net profit growth include: - Qiming Star (-30%) - Top Point Software (-36%) [4][5][6]. Key Investment Targets - AIGC Segment: Jinshan Office, Wanxing Technology, Daotong Technology, Hongsoft Technology, and others [4]. - Digital Economy Leaders: Hikvision, Jinshan Office, Hengsheng Electronics, and others [4]. - Data Innovation: Haiguang Information, Ruantong Power, Suocheng Technology, and others [4]. - AIGC Computing Power: Langchao Information, Haiguang Information, and others [4].

Summary of Key Points Core Viewpoint - On July 11, 13 stocks from the Sci-Tech Innovation Board experienced block trading, with a total transaction amount of 256 million yuan, indicating active trading in this sector [1]. Group 1: Trading Activity - A total of 13 Sci-Tech Innovation Board stocks had block trades, with 26 transactions and a cumulative trading volume of 13.93 million shares [1]. - The stock with the highest transaction amount was Weiteng Electric, with a trading volume of 2.34 million shares and a transaction amount of 63.52 million yuan [1]. - Other notable stocks in terms of transaction amounts included Huicheng Co. and Yunzhu Technology, with transaction amounts of 57.27 million yuan and 23.83 million yuan, respectively [1]. Group 2: Price Performance - The average price of the stocks involved in block trading showed a discount compared to the closing price, with the highest discount rates for Weimais, Dameng Data, and Fuje Environmental Protection at 25.02%, 21.16%, and 19.12% respectively [1]. - In contrast, Huicheng Co. had a premium rate of 0.93% [1]. - The Sci-Tech 50 Index rose by 1.48%, with 402 stocks (68.25%) increasing in value, while the average increase for stocks involved in block trading was 3.58% [1]. Group 3: Institutional Participation - Among the block trades, 12 transactions involved institutional buyers or sellers, focusing on four stocks, with the highest buying amounts in Fuje Environmental Protection, Aopumai, and Yifang Bio at 14.08 million yuan, 10.49 million yuan, and 10.01 million yuan, respectively [2]. - Net inflows of funds were observed in six stocks, with Yifang Bio, Huazhu High-Tech, and Kaiweite leading in net inflow amounts of 16.69 million yuan, 5.53 million yuan, and 5.47 million yuan, respectively [2]. - Conversely, Yunzhu Technology, Haimeixing, and Fuchuang Precision experienced the highest net outflows of 8.99 million yuan, 7.35 million yuan, and 3.13 million yuan, respectively [2].