紫光股份有限公司 关于为子公司提供担保的进展公告 股票简称：紫光股份 股票代码：000938 公告编号：2025－041 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚假记 载、误导性陈述或重大遗漏。 一、担保情况概述 紫光股份有限公司（以下简称"公司"）2025 年 4 月 28 日召开的第九届董事会 第十二次会议及 2025 年 5 月 20 日召开的 2024 年度股东大会审议通过了《关于为子 公司申请银行综合授信额度提供担保的议案》，同意公司全资子公司紫光数码（苏州） 集团有限公司（以下简称"苏州紫光数码"）为紫光电子商务有限公司（以下简称"紫 光电子商务"）等六家子公司自公司 2024 年度股东大会审议通过之日起 12 个月内申 请的银行综合授信额度提供总额不超过人民币 10.6 亿元的担保（以下简称"本次额 度"）。具体内容详见公司于 2025 年 4 月 29 日在巨潮资讯网等披露的《第九届董事 会第十二次会议决议的公告》（公告编号：2025-018）、《关于为子公司申请银行综合 授信额度提供担保的公告》（公告编号：2025-022）及于 2025 年 5 月 21 日披露的 ...

Group 1 - The CPO (Co-Packaged Optics) concept declined by 0.11% as of the market close on July 24, ranking among the top decliners in the concept sector [1] - Notable decliners within the CPO sector include Tai Chen Guang, Shi Jia Guang Zi, and Changxin Bochuang, while the top gainers were Bo Min Electronics, Lian Ying Laser, and Kai Ge Precision Machinery, with increases of 4.47%, 4.30%, and 3.32% respectively [1] - The Hainan Free Trade Zone concept saw the highest increase at 9.11%, followed by the horse racing concept at 4.67% and the duty-free shop concept at 4.46% [1] Group 2 - The CPO sector experienced a net outflow of 2.078 billion yuan, with 50 stocks seeing net outflows, and 7 stocks experiencing outflows exceeding 100 million yuan [1] - The stock with the highest net outflow was Xin Yi Sheng, with a net outflow of 599.16 million yuan, followed by Tian Fu Communication and Zhong Ji Xu Chuang with outflows of 363.12 million yuan and 221.04 million yuan respectively [1] - The stocks with the highest net inflows included Changdian Technology, Sanan Optoelectronics, and Unisplendour, with net inflows of 156 million yuan, 130 million yuan, and 81.52 million yuan respectively [1]

Group 1 - The Shanghai Composite Index broke through 3600 points and showed strength again today, with the Wind All A Index surpassing the previous high of 9.24, indicating a positive trend in the A-share market [1] - The WAIC 2025 will open on July 26, showcasing over 3000 cutting-edge exhibits, including more than 100 "global debuts" and "China debuts," marking the largest scale in history [1] - According to a report by China International Capital Corporation (CICC), the technology foundation and product roadmap for building AIAgent intelligent agents are maturing, with expectations for significant advancements in AI applications and the formation of a complete commercial ecosystem by 2025 [1] Group 2 - The AI ETF (515070) tracks the CS Artificial Intelligence Theme Index (930713), focusing on companies providing technology, resources, and applications in the AI sector, often referred to as the "robot brain" creators and the "foundation" of the Internet of Everything [2] - The top ten weighted stocks in the AI ETF include leading domestic technology companies such as Cambricon Technologies, Hikvision, and iFlytek, indicating a strong representation of the AI industry [2] Group 3 - Related products include the AI ETF (515070), Huaxia CSI Artificial Intelligence Theme ETF Link A (008585), and Huaxia CSI Artificial Intelligence Theme ETF Link C (008586) [3]

Market Performance - The market continued to rise last week, with the Shanghai Composite Index up 0.69%, the Shenzhen Component Index up 2.04%, and the ChiNext Index up 3.17% [1] - The China Securities Xinhua National Brand Index increased by 1.63%, closing at 1706.67 points [1] Strong Stock Performance - Several constituent stocks performed strongly last week, including: - Zhongji Xuchuang up 24.33% - Xinlitai up 20.86% - Ecovacs up over 20% - Woer Biotech and AVIC Shenfei up 15.42% and 12.78% respectively [1] - Year-to-date performance shows: - Xinlitai up 78.17% - WuXi AppTec up 53.33% - Ecovacs up over 50% [2] Market Outlook - Institutions believe the Shanghai Composite Index has stabilized above 3500 points, indicating strong bullish momentum [2] - Increased market profitability is expected to attract more external funds, supported by ample liquidity and positive trading sentiment [2] - The current market may be at the beginning of a new bull market, driven by domestic policy support and improving fundamentals [2] Focus on Earnings and Policies - The upcoming earnings season is expected to significantly impact individual stock performance [3] - Market attention will shift towards domestic policies and Federal Reserve actions, which may form the basis for mid-term trends [3] - Structural opportunities are anticipated to be key for A-share investments in the second half of the year, with a focus on core A-share assets [3]

Core Insights - The China Securities Artificial Intelligence Industry Index (931071) has shown a strong increase of 1.71% as of July 17, 2025, with notable gains in constituent stocks such as Xinyi Sheng (300502) up 7.98% and Tuowei Information (002261) up 6.72% [1][2] - The Artificial Intelligence ETF (515980) has also risen by 1.74%, achieving a five-day consecutive increase, with a trading volume of 1.40 billion yuan [1][2] - The index has demonstrated a 40.06% increase in net value over the past year, ranking in the top 17.63% among 2,915 index equity funds [1][2] Industry Overview - The index is constructed from 50 representative listed companies that provide foundational resources, technology, and application support for artificial intelligence, with the top ten stocks accounting for 52.07% of the index [2][3] - The upcoming World Artificial Intelligence Conference from July 26 to July 28, 2025, in Shanghai will showcase over 3,000 cutting-edge exhibits, including numerous AI models and products, marking the largest scale in history [2][3] Market Trends - Dongwu Securities indicates that AI applications have achieved significant cost reductions and rapid penetration, suggesting the industry is entering a fast growth phase [3] - Guojin Securities highlights strong momentum in AI hardware for smart driving and robotics, as well as software applications in education, finance, and enterprise services [3][5] - The Huafu Artificial Intelligence ETF (515980) is positioned as a small broad-based fund that captures opportunities in both computing infrastructure and application innovation within the AI sector [5][6]

Investment Rating - The report does not explicitly state an investment rating for the China Large Model All-in-One Machine industry Core Insights - The rapid development of artificial intelligence technologies has led to the emergence of large model all-in-one machines, which provide end-to-end support for the development, training, deployment, and operation of large models [2] - The market for large model all-in-one machines in China is characterized by increasing competition among major technology companies, each launching their own products [2] Summary by Sections Market Analysis - The market for large model all-in-one machines is diversifying, with products priced between 500,000 to 5 million yuan, catering to various user needs [7][20] - The pricing of large model all-in-one machines is influenced by four main factors: hardware performance, system integration capabilities, industry customization services, and compliance with security delivery [30] Definition and Composition - Large model all-in-one machines are integrated AI infrastructure designed to support the entire lifecycle of large model development, training, deployment, and operation, typically comprising software, hardware, and operational support [14] Deployment Characteristics - The deployment of large model all-in-one machines emphasizes extreme performance, local data closure, and high controllability, making them suitable for scenarios with high real-time and data security requirements [19] Major Manufacturers and Product Pricing - Major manufacturers in the market include Huawei, Inspur, and Unisplendour, with products offering diverse configurations and functionalities [20][21] - The price range for these products varies significantly, with high-end models supporting ultra-large model training and inference, while mid-range and basic models cater to mainstream applications and lightweight model inference [22][27][28] User Profile - The target users for large model all-in-one machines are typically small to medium-sized enterprises lacking professional AI infrastructure and teams, requiring local deployment and quick setup [36][37]

7月12日，以"共筑绿色算力大生态 共创人工智能新未来"为主题的2025绿色算力（人工智能）大会 在呼和浩特举行，旨在服务好国家"东数西算"战略，合力打造全国绿色算力保障基地，着力构筑人工智 能产业创新生态，加快发展新质生产力。主论坛后，九场专题会议相继举办。其中，紫光股份旗下新华 三集团主办"算力×联接：筑基北疆绿色算网 智拓AI云谷未来"专题会议，探讨AI技术、智算中心打造、 算力调度等技术与实践，展望智算产业与人工智能产业发展趋势。会上，新华三与多家伙伴共同成立新 华三区域智算联盟，并联合多位合作伙伴成立新华三区域国产化联盟，旨在进一步整合智算产业优势资 源，助推区域科技创新。 化专业人才队伍培养等方面发力，助力呼和浩特现代化区域中心城市的建设，为'中国云谷'迈向'世界算 谷'提供坚实支撑。" 新华三集团高级副总裁、技术委员会副主席刘新民指出，随着AI大模型不断发展，从预训练向后 训练及推理阶段延伸，算力需求呈爆发式增长态势。海外纷纷打造超大规模算力集群，提供超大算力面 临诸多挑战，算网高效协同变得至关重要。需要实现万卡高速互联，确保并行算法的多样性与有效性， 同时要可靠自动运维、加强安全防护等，还需不 ...

Summary of Conference Call Records Company and Industry Overview - The conference call primarily discusses the performance and strategic direction of a defense-related company and the ICT (Information and Communication Technology) industry, highlighting growth opportunities and challenges in the current market environment [1][2][4][5]. Key Points and Arguments Financial Performance - The defense sector reported approximately 20% growth in revenue and monetary supply management in Q1 of the current year [1]. - The company aims to accelerate overseas business development and enhance capital strength, with plans to list on the Hong Kong main board [1]. - The ICT industry is facing challenges, but there was a notable increase in demand for ICT services in Asia last year [2]. Strategic Initiatives - The company is focusing on optimizing product architecture and cost management, resulting in a decrease in expenses by 7.17% and a total cost reduction of 5.31 billion yuan [3]. - A goal was set to achieve 7.1 billion yuan in revenue by 2024, with an overall growth target of 11 billion yuan [4]. Market Dynamics - The international economic landscape is evolving, with increasing favorable policies impacting the ICT sector [2]. - The company is actively engaging in partnerships with domestic GPU manufacturers to expand market opportunities and enhance local deployment capabilities [15][16]. Challenges and Risks - The ongoing US-China trade tensions and tariff wars are creating uncertainties, particularly affecting the supply chain and market dynamics for high-end chips [24][26]. - The company acknowledges the challenges posed by restrictions on advanced chip exports from the US, but remains optimistic about long-term collaboration with NVIDIA and other partners [14][15][17]. Future Outlook - The company anticipates significant growth in AI applications and infrastructure, with a focus on enhancing service capabilities in sectors like healthcare and government [19][20]. - There is a strong emphasis on expanding international markets, with a target to increase overseas revenue significantly over the next few years [32][34]. Additional Important Content - The conference highlighted the importance of adapting to market changes and leveraging technological advancements to maintain competitive advantages [20][21]. - The company is committed to continuous innovation and collaboration with various stakeholders to navigate the evolving landscape of the ICT industry [40][54]. This summary encapsulates the essential insights from the conference call, focusing on financial performance, strategic initiatives, market dynamics, challenges, and future outlook.

Core Insights - The China Securities Index for the Hong Kong and Shanghai Cloud Computing Industry (SHS Cloud Computing) rose by 6.85% to 2572.54 points, with a trading volume of 127.65 billion yuan [1] - Over the past month, the index increased by 6.81%, 12.07% over the last three months, and 16.03% year-to-date [1] - The index comprises 50 listed companies involved in cloud computing services and hardware, reflecting the overall performance of the cloud computing sector in mainland China and Hong Kong [1] Index Composition - The top ten weighted companies in the index are: - NewEase (9.69%) - Zhongji Xuchuang (9.66%) - Tencent Holdings (8.97%) - Alibaba-W (8.68%) - Zhongke Shuguang (6.34%) - Kingsoft Office (4.07%) - Inspur Information (3.58%) - Kingdee International (3.33%) - Hengsheng Electronics (3.17%) - Unisplendour (3.09%) [1] - The market share by exchange is as follows: - Shenzhen Stock Exchange: 52.47% - Hong Kong Stock Exchange: 25.33% - Shanghai Stock Exchange: 21.90% - Beijing Stock Exchange: 0.30% [1] Sector Allocation - The sector allocation of the index is: - Information Technology: 48.81% - Communication Services: 41.54% - Consumer Discretionary: 8.68% - Industrials: 0.97% [2] - The index samples are adjusted biannually, with adjustments occurring on the next trading day after the second Friday of June and December [2] - Public funds tracking the SHS Cloud Computing index include various funds from Huatai-PB and Tianhong [2]

截至7月15日收盘，英伟达概念上涨2.02%，位居概念板块涨幅第5，板块内，45股上涨，中电港涨停， 胜宏科技、一品红、天孚通信等涨幅居前，分别上涨13.65%、13.19%、11.97%。跌幅居前的有鸿博股 份、掌趣科技、晶丰明源等，分别下跌3.96%、1.91%、1.52%。 今日涨跌幅居前的概念板块 | 概念 | 今日涨跌幅（%） | 概念 | 今日涨跌幅（%） | | --- | --- | --- | --- | | 中国AI 50 | 3.91 | 低辐射玻璃(Low-E) | -3.55 | | ERP概念 | 3.35 | 硅能源 | -2.85 | | 共封装光学(CPO) | 2.39 | POE胶膜 | -2.39 | | F5G概念 | 2.25 | 农村电商 | -2.37 | | 英伟达概念 | 2.02 | 煤炭概念 | -2.36 | | 华为盘古 | 1.92 | 赛马概念 | -2.24 | | 液冷服务器 | 1.90 | 超超临界发电 | -2.22 | | 同花顺果指数 | 1.85 | 光热发电 | -2.21 | | AI PC | 1.72 | 有机硅概念 | ...