Core Viewpoint - The strategic cooperation among China Pacific Property Insurance Co., Shandong Branch, Jiangsu Digital Eagle Technology Co., and China Tower Corporation, Linyi Branch, marks a significant step in integrating resources and complementing advantages in the fields of technological innovation, risk assurance, and low-altitude economy [1][3]. Group 1: Strategic Cooperation - The signing of the strategic cooperation agreement signifies a strong alliance among the three companies, focusing on low-altitude economic insurance services [3]. - The collaboration aims to enhance drone scheduling efficiency and flight safety through China Tower's communication infrastructure, while Pacific Insurance will provide innovative insurance services to mitigate operational risks [3][4]. Group 2: Low-altitude Economy Development - The establishment of the "Low-altitude Economic Insurance Service Center" represents a critical advancement in the low-altitude economic insurance service sector [3]. - Jiangsu Digital Eagle Technology Co. is committed to developing a complete industrial chain for heavy-load logistics drones, integrating technology research, manufacturing, platform development, training, and comprehensive services [4]. Group 3: Regional Economic Impact - The partnership is expected to transform Linyi into a hub for low-altitude economic services in North China, contributing to the creation of a low-altitude economic industrial ecosystem [4]. - The establishment of a drone 4S maintenance center is a milestone in deepening regional collaboration and enhancing the low-altitude economy [4].

A股军工电子走低，奥维通信跌停，新劲钢跌近7%，科思科技、泰豪科技、大立科技跌超4%。 ...

来源丨 投中网 什么是青年？可以用数据说话。联合国将青年定义为 15-24 岁，世界卫生组织则将年龄范围扩展到 15-44 岁。可以用古语说话。"后生可畏"的箴言 揭示着东方文明对青春力量的敬畏。也可以用概念说话。文艺复兴后，"青年"作为独立概念出现，经过五四运动后在中国普及，成为社会变革的象征。 对于投资，青年又意味着始终处于"成为"（ becoming ）的状态。在湍急的时代浪潮中，青年投资人要不断寻找自身的定位，校准自己的价值观，整 合各种不同的看待世界的方法和模型，形成一套自己的认知体系，当然，最重要的，投资人要与时代共振。 生命力是主体的一种经验和感受，是意识和行动之间的间隔。而投资正是社会生命力的象征。我们希望青年投资人能活出饱满的生命力。既能躬身入 局，中流击水，也能及时抽身，理清时代的脉络。既能理解宏观经济趋势，深入分析行业来龙去脉，更需在信息过载时筛选出有效信号，在快速变化的 市场中保持新鲜的眼光和敏锐的洞察力。 投资人要与时代共振。 | 5 | 邓到 | 陆石投资 | 北京、天津、成都 | 爱思达航天 天兵科技 | | --- | --- | --- | --- | --- | | | | ...

Group 1: REITs and Data Centers - The first data center REIT, Southern Runze Technology Data Center REIT, has been accepted for review on the Shenzhen Stock Exchange, attracting significant investor attention due to its business model and asset characteristics [4]. Group 2: Defense and AI - Kosi Technology (688788.SH) is positioned as a leader in AI and unmanned equipment for military applications, with a strong focus on AI command and control systems, having accumulated over 20 years of core data and experience [5][6]. - The company has invested over 1 billion yuan in R&D, with a team of over 400 people dedicated to AI and military applications, indicating significant growth potential in both military and civilian sectors [6]. Group 3: Healthcare - Meinian Health (002044.SZ) is leveraging AI to enhance efficiency and reduce costs in the health checkup industry, with over 600 branches and a leading position in the number of annual health checkups [7][8]. - The company is expected to achieve revenues of 10.826 billion yuan, 12.099 billion yuan, and 13.098 billion yuan from 2024 to 2026, with corresponding net profits of 326 million yuan, 617 million yuan, and 813 million yuan [8]. Group 4: Banking - Chongqing Rural Commercial Bank (601077.SH) is expected to benefit from the Chengdu-Chongqing economic circle, with projected net profit growth rates of 5.72%, 5.99%, and 6.53% from 2025 to 2027 [9]. - China Merchants Bank (600036.SH) has shown resilience with a return to profit growth in 2024, maintaining a leading position in the industry [10]. Group 5: Carbon Market and Construction - The national carbon market is expanding, with significant implications for the steel, cement, and aluminum industries, as companies adapt to new carbon pricing mechanisms [11]. - Key players in these sectors, such as Baosteel and China Aluminum, are expected to benefit from the transition to greener production methods [11]. Group 6: Coal Industry - China Shenhua Energy (H) has seen an increase in long-term investment interest, with a recent stake acquisition by Swiss Life Insurance, reflecting a reevaluation of the coal sector's value [14][15]. - The company has a low debt ratio of 23.4% and plans to distribute 44.9 billion yuan in cash dividends in 2024, indicating strong cash flow and dividend capacity [15][16]. Group 7: Chemicals and Materials - Sanwei Chemical (002469.SZ) reported a significant acceleration in Q4 performance, with a high dividend payout ratio of 99%, making it an attractive investment [21]. - China Jushi (600176.SH) achieved a revenue of 15.856 billion yuan in 2024, with a strong performance in Q4, indicating resilience in the fiberglass market [22][23]. Group 8: Consumer Goods - Nongfu Spring (09633.HK) reported stable growth with a revenue of 42.896 billion yuan in 2024, driven by strong brand value and product innovation [30]. - The company is expected to see net profits grow by 15.6%, 15.0%, and 16.0% from 2025 to 2027, maintaining its market leadership [30]. Group 9: Textile and Apparel - Shenzhou International (02313.HK) reported a revenue of 28.66 billion yuan in 2024, with a net profit increase of 37%, indicating strong demand and operational efficiency [31].

Core Insights - The 2025 Government Work Report has officially included "deep-sea technology" as a key area for development, indicating a significant shift towards industrialization in this sector [2][4] - The deep-sea technology market is projected to be worth trillions, driven by advancements in technology and policy support [4][5] - The deep-sea technology index has seen a notable increase, with several companies experiencing stock price surges due to investor interest [8] Industry Overview - Deep-sea technology encompasses advanced techniques and equipment for exploring and utilizing deep-sea resources, including deep-sea detection, resource development, communication, and engineering technologies [2] - The deep-sea economy is part of China's broader marine economic strategy, with the national marine production value expected to reach 10.54 trillion yuan in 2024, reflecting a 5.9% growth from the previous year [2] - The government is emphasizing the importance of deep-sea technology as a frontier in marine economy and technological innovation [2][3] Policy and Government Initiatives - Local governments are implementing policies to accelerate the industrialization of deep-sea technology, with cities like Shanghai and Shenzhen announcing development plans and strategic partnerships [3] - The "Mingyuan Plan" and other national-level research projects are being launched to support the safe and healthy development of deep-sea technology [3] Market Dynamics - The deep-sea technology industry chain includes equipment manufacturing, resource exploration, and commercial services, covering various sectors such as deep-sea robotics and offshore wind energy [5][6] - Companies are making significant advancements in deep-sea equipment, with several achieving global leadership in deep-sea exploration technologies [5][6] Investment Opportunities - The deep-sea technology sector is attracting substantial investor interest, with many companies reporting inquiries about their involvement in this field [8] - Companies like CIMC and KOSHI Technology are actively engaging in deep-sea oil and gas equipment manufacturing and underwater robotics, showcasing their technological capabilities [9][10]

Investment Rating - The report does not explicitly state an investment rating for the communication equipment industry or the specific company involved [1]. Core Insights - The communication equipment industry is experiencing a dual-driven demand from traditional equipment delivery acceleration and rapid development in emerging fields [17]. - The company, Shenzhen Kesi Technology Co., Ltd., has a significant first-mover advantage and deep technological accumulation in the electronic information industry, focusing on continuous R&D investment across various fields including AI and cloud computing [17]. - The company is actively pursuing intelligent and unmanned product trends, integrating AI, smart wireless communication, and virtual reality technologies into its offerings [17]. Summary by Sections 1. Basic Research Information - The research was conducted on March 13, 2025, focusing on Shenzhen Kesi Technology, which operates in the communication equipment sector [13]. 2. Detailed Research Institutions - Participating institutions included Ping An Fund, Southern Fund, Xinda Australia Fund, and Rongtong Fund, all of which are fund management companies [14]. 3. Research Institution Proportions - The report does not provide specific data on the proportions of research institutions involved [16]. 4. Main Content Information - The company was established in 2004 and listed on the Sci-Tech Innovation Board in 2020, emphasizing its commitment to R&D in various advanced technology fields [17]. - The company has established a complete chip R&D team and has made significant investments in chip development, with successful trials of its first-generation smart wireless communication baseband chip [17][19]. - R&D expenses are primarily composed of employee salaries, materials, depreciation, and design/testing fees, with a high proportion allocated to chip development [19].

Financial Performance - The total operating revenue for 2024 was RMB 233.59 million, a decrease of 1.14% compared to the previous year[3] - The net profit attributable to shareholders was -RMB 283.20 million, down 39.33% year-on-year[6] - Basic earnings per share were -RMB 2.7032, a decline of 40.39% from the previous year[6] - Total assets at the end of the reporting period were RMB 2,296.12 million, a decrease of 10.73% year-on-year[6] - The equity attributable to shareholders decreased to RMB 2,162.65 million, down 11.91% compared to the previous year[6] Research and Development - The company continued to invest heavily in R&D, focusing on AI, cloud computing, and smart decision-making technologies, which increased expenses significantly[6] - The decline in net profit and earnings per share was primarily due to increased R&D expenses and asset impairment provisions[8] Asset Management - The company recognized asset impairment provisions due to cautious management, impacting profit metrics negatively[8] Cash Flow and Orders - The company reported a stable cash flow with approximately RMB 335 million in unfulfilled orders[8] Financial Reporting and Risks - The financial data presented are preliminary and subject to change upon final audit, highlighting potential investment risks[9]

深圳市科思科技股份有限公司 证券代码：688788 证券简称：科思科技 公告编号：2025-006 （一）经营情况 经公司自查，目前公司日常经营情况一切正常，内部生产经营秩序正常。 股票交易异常波动公告 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。 如有董事对临时公告内容的真实性、准确性和完整性无法保证或存在异议 的，公司应当在公告中作特别提示。 重要内容提示： 一、股票交易异常波动的具体情况 公司股票交易连续三个交易日内（2025 年 2 月 13 日、2025 年 2 月 14 日和 2025 年 2 月 17 日）收盘价格涨幅偏离值累计达到 30%，根据《上海证券交易所 交易规则》《实时监控细则》的有关规定，属于股票交易异常波动。 深圳市科思科技股份有限公司（以下简称"公司"）股票交易连续三个交易 日内（2025 年 2 月 13 日、2025 年 2 月 14 日和 2025 年 2 月 17 日）收盘价 格涨幅偏离值累计达到 30%，根据《上海证券交易所交易规则》《上海证券 交易所科创板股票异常交易实时监控细则 ...

2、在公司股票交易异常波动期间，本人及本人的一致行动人不 存在买卖公司股票的情况。 特此回复。 （本页以下无正文） 关于深圳市科思科技股份有限公司 股票交易异常波动问询函的回函 深圳市科思科技股份有限公司： 本人收到《深圳市科思科技股份有限公司股票交易异常波动问询 函》，本人作为深圳市科思科技股份有限公司（以下简称"公司"）的 控股股东及实际控制人。经认真自查，现就有关问题回函如下： 1、截至目前，本人不存在正在筹划的关于公司的并购重组、股 份发行、债务重组、业务重组、资产剥离和资产注入等重大事项，也 不存在其他应披露而未披露的重大信息。 ( 页无正文，为《关于深圳市科思科技股份有限公司 票交易异常波动 问询函的回函》 ) 控股股东、 际控制人： 刘建 2025 2 17 ...

Financial Performance - The company expects a net loss attributable to shareholders of the parent company for 2024 to be between -295 million and -250 million CNY, representing an increase in loss of 23.00% to 45.14% compared to the previous year[3]. - The projected net loss attributable to shareholders after deducting non-recurring gains and losses is estimated to be between -297 million and -252 million CNY, indicating a year-over-year increase in loss of 11.14% to 30.99%[3]. - The previous year's net profit attributable to shareholders was -203.26 million CNY, with a total profit of -226.61 million CNY[4]. - Interest income is expected to decrease year-over-year due to declining interest rates, contributing to the anticipated losses for 2024[6]. Research and Development - The company is increasing its R&D investment in key areas such as intelligent unmanned equipment and smart communication chips, which has led to significant breakthroughs but also increased short-term financial pressure[5]. - The company has completed the front-end design of its RF transceiver chip and is currently in the back-end design phase, with testing results meeting design expectations[5]. Asset Management - The company has made appropriate provisions for asset impairment based on a cautious principle, impacting profit-related indicators for the current period[6]. Business Operations - The company maintains a normal business operation with sufficient cash flow and has not encountered significant adverse changes in production and operations[6]. Forecast and Risks - The performance forecast is based on preliminary calculations and has not yet been audited by an accounting firm, with no major uncertainties affecting the accuracy of the forecast identified as of the announcement date[7]. - Investors are advised to pay attention to investment risks as the forecast data is preliminary and subject to change upon the release of the audited annual report[8].