Core Viewpoint - Today, 11 stocks received buy ratings from institutions, with Tian Ci Materials having its rating upgraded and Min Sida and China National Foreign Trade being newly covered by institutions [1] Group 1: Institutional Ratings - A total of 13 buy ratings were issued today, covering 11 stocks, with Tian Ci Materials and Guizhou Moutai receiving the highest attention, each having 2 buy ratings [1] - Among the stocks rated, 6 provided future target prices, with 5 stocks showing an upside potential exceeding 20%. Guizhou Moutai has the highest upside potential at 82.33%, with a target price of 2600.00 yuan set by Huachuang Securities [1][2] - Other stocks with significant upside potential include Qibin Group and Shiji Information, with upside potentials of 73.03% and 30.30% respectively [1] Group 2: Market Performance - The average increase for stocks with buy ratings today was 2.96%, outperforming the Shanghai Composite Index. Ten stocks saw price increases, with Min Sida, Qibin Group, and Shiji Information leading the gains at 8.72%, 5.06%, and 4.52% respectively [1] Group 3: Individual Stock Ratings - Guizhou Moutai received a strong buy rating from Huachuang Securities with a target price of 2600.00 yuan and a latest closing price of 1426.00 yuan [2] - Min Sida was rated as "Increase" by GF Securities with a target price of 54.34 yuan and a latest closing price of 44.49 yuan [2] - Tian Ci Materials received buy ratings from both CITIC Securities and Western Securities, with a latest closing price of 48.04 yuan [2]

Group 1 - The core announcement from Shiji Information indicates a change in designated information disclosure media, moving from "Securities Times" to "Shanghai Securities Journal" starting January 1, 2026 [1][6][7] - The company has applied for an extension to respond to inquiries regarding the valuation of the acquisition of 100% equity in Sihon Software, which is valued at 160,225.63 million yuan, reflecting a high premium of 398.59% [3][8] - The valuation is based on the income approach, with the assessment firm optimistic about the future growth of the retail digitalization sector [3][8] Group 2 - Sihon Software's projected revenue for 2024 is 33,099.23 million yuan, showing a year-on-year decline of 9.16% compared to 2023 [4][9] - Shiji Information is burdened by high goodwill, amounting to 1.25 billion yuan as of Q3 2025, primarily from past acquisitions [4][9] - The company has reported negative net profit for five consecutive years from 2020 to 2024, raising concerns about the sustainability of its business model amid high goodwill and ongoing losses [4][10]

Investment Rating - The report assigns an "Outperform" rating to the industry, with specific buy and hold recommendations for companies such as Daotong Technology, Shiji Information, Ninebot, Wanxing Technology, and Guangyun Technology [2]. Core Insights - The report emphasizes that the "Tech Going Global" strategy is imperative and timely, despite the complexities and challenges faced by Chinese tech companies in overseas markets [14][15]. - It highlights the significant growth in China's tech exports, particularly in sectors like robotics and artificial intelligence, which are becoming key drivers of the economy [23][24]. - The report identifies four advantageous segments for investment in overseas expansion: market transplant type, single-point breakthrough type, platform going global type, and synchronous advancement type [54][55]. Summary by Sections Industry Investment Rating - The report provides specific stock ratings for companies, indicating a strong market outlook for the technology sector [2]. Key Trends in Tech Going Global - The report notes that the export of new "new three samples" (robots, AI, innovative drugs) is gaining momentum, with significant technological advancements leading to commercial viability [23][24]. - It discusses the increasing influence of Chinese tech companies in global markets, particularly in AI, where China holds a substantial share of global patents [31][34]. Investment Opportunities - The report outlines that sectors such as fintech and smart cities are well-positioned for overseas expansion due to their maturity in the domestic market and the potential for replicating successful models in emerging markets [56][57]. - It emphasizes the importance of adapting to local market needs and leveraging China's technological capabilities to meet global demands [37][38]. Market Dynamics - The report highlights the shift in China's export focus from consumer goods to technology-intensive products, marking a transition from "Made in China" to "Created in China" [29][30]. - It discusses the favorable conditions in regions like Southeast Asia, where digital infrastructure is improving, creating opportunities for Chinese tech firms [38][39]. Company-Specific Insights - The report provides detailed analysis on specific companies, including their overseas revenue contributions and growth potential, indicating a trend of increasing international business [53].

北京中长石基信息技术股份有限公司 公告 北京中长石基信息技术股份有限公司 董 事 会 2025 年 12 月 31 日 本公司及董事会全体成员保证公告内容的真实、准确和完整，不存在虚假记载、误导 性陈述或者重大遗漏。 北京中长石基信息技术股份有限公司（以下简称"公司"）原指定信息披露媒体为《中 国证券报》、《证券时报》及巨潮资讯网（www.cninfo.com.cn）。公司与《证券时报》签订的 信息披露服务协议将于 2025 年 12 月 31 日到期，自 2026 年 1 月 1 日起，公司指定信息披露 媒体变更为《中国证券报》、《上海证券报》及巨潮资讯网（www.cninfo.com.cn）。公司所有 公开披露的信息均以在上述指定报刊、网站刊登的正式公告为准，敬请广大投资者理性投资， 注意投资风险。 公司对《证券时报》以往提供的优质服务表示衷心的感谢！ 特此公告。 证券代码：002153 证券简称：石基信息 编号：2025-62 北京中长石基信息技术股份有限公司 关于变更指定信息披露媒体的公告 ...

证券日报网讯12月25日，石基信息（002153）在互动平台回答投资者提问时表示，公司于2022年成立全 资子公司中长石基信息技术(海南)有限公司(简称"石基海南")旨在未来依靠海南自贸港的政策红利，发 挥石基海南连接公司国内外业务的桥梁作用。目前石基海南本身业务量不大，其下属的控股子公司包括 深圳市思迅软件股份有限公司和青岛海石商用科技股份有限公司。 ...

Group 1 - The company plans to issue shares to acquire a 13.50% stake in Shenzhen Sihon Software Co., Ltd. [1] - The company received an inquiry letter from the Shenzhen Stock Exchange regarding the asset purchase application, requiring a response within 30 days [1] - The company disclosed the response to the inquiry letter on November 20, 2025 [1] Group 2 - The company needs to modify and supplement the response to the inquiry letter based on further review by the Shenzhen Stock Exchange [2] - The company has applied for an extension of up to 30 days to submit the revised response to the inquiry letter [2] - The transaction is subject to approval from the Shenzhen Stock Exchange and the China Securities Regulatory Commission, with uncertainties regarding the approval timeline [2]

证券代码：002153 证券简称：石基信息 公告编号：2025-61 北京中长石基信息技术股份有限公司 公告 北京中长石基信息技术股份有限公司 公司于 2025 年 10 月 28 日收到深圳证券交易所（以下简称"深交所"）出具的《关于北 京中长石基信息技术股份有限公司发行股份购买资产申请的审核问询函》（审核函〔2025〕 130022 号）（以下简称"《审核问询函》"），要求公司在收到《审核问询函》之日起 30 日内 披露问询意见回复并将回复文件通过深交所审核系统提交。收到《审核问询函》后，公司及 相关中介机构根据《审核问询函》的要求，就相关事项逐项说明、论证和回复，并于 2025 年 11 月 20 日披露了相关回复文件。 根据深交所的进一步审核意见，公司需对《审核问询函》回复文件进行修改、补充。因 进一步修改、补充所需工作时间较长，为切实稳妥做好《审核问询函》回复等相关工作，经 与本次重组的交易各方及其他中介机构审慎协商，公司已向深交所申请延期，公司将自《审 核问询函》回复期限届满之日起延期不超过 30 日向深交所提交修订后的《审核问询函》书 面回复材料并及时履行信息披露义务。 本次交易尚需通过深交所审 ...

Group 1 - The willingness of listed companies to distribute dividends has significantly increased, with the total cash dividends in the A-share market reaching a historical high of 2.56 trillion yuan by December 15, exceeding the total for the entire year of 2024 [1] - Traditional "dividend giants" have increased their cash return efforts, with over 80% of the 36 companies that distributed more than 10 billion yuan in cash dividends in 2025 showing an increase compared to last year [2] - Companies such as China Construction Bank and Bank of China reported cash dividend increases of over 45% compared to last year, while Zijin Mining, BYD, and Hikvision each surpassed 10 billion yuan in cash distributions for the first time [2] Group 2 - A total of 38 companies have announced shareholder return plans for the next three years (2026-2028), with a majority committing to distribute at least 10% of their distributable profits in cash annually [3] - Specific companies like Qibin Group and China Merchants Shekou have set even higher cash distribution targets, with Qibin Group aiming for over 50% and China Merchants Shekou for at least 40% of their net profits [3][4] - The average stock price increase for the 38 companies that announced return plans is nearly 4%, outperforming the average increase of the CSI 300 index [5] Group 3 - Companies such as Wangzi New Materials and Aibisen have seen significant stock price increases following their announcements of cash distribution plans, with Wangzi New Materials' stock rising over 50% since March 29 [5][6] - 17 out of the 38 companies received extensive institutional research, with some like Baiwei Storage and Shiji Information attracting over 200 institutional inquiries [6][7] - Baiwei Storage has achieved core supplier qualifications from major server manufacturers and internet companies, committing to distribute at least 10% of its distributable profits in cash [6]

Core Viewpoint - The article highlights the increasing trend of cash dividends among listed companies in China, with a focus on their commitment to return profits to shareholders through substantial cash distributions over the next three years. Group 1: Cash Dividend Trends - Listed companies in China have shown a significant increase in cash dividend intentions, with the total cash dividends exceeding 2.47 trillion yuan this year, surpassing the total for the entire previous year [2][4] - Major companies like BYD, Hikvision, and Zijin Mining have reported cash dividends exceeding 10 billion yuan for the first time this year, with many traditional "dividend giants" increasing their payouts [4][5] Group 2: Future Dividend Plans - Nearly 40 companies have established shareholder return plans for the next three years (2026-2028), with most committing to distribute at least 10% of their annual distributable profits in cash [7] - Specific companies have set higher targets, such as Qibin Group, which plans to distribute over 50% of its annual distributable profits in cash, and China Merchants Shekou, which aims for a minimum of 40% [7][9] Group 3: Market Performance and Institutional Interest - Companies that announced shareholder return plans have seen an average stock price increase of over 4.5%, outperforming the average increase of the CSI 300 index [10] - Notably, companies like Wangzi New Materials and Aibison have experienced stock price increases exceeding 50% since their announcements [10][12] Group 4: Institutional Research Activity - Among the 37 companies with announced return plans, 17 have received significant institutional interest, with some receiving over 350 institutional research inquiries [11][12] - Companies like Baiwei Storage and Shiji Information have also reported substantial stock price increases alongside their active engagement with institutional investors [12][13]

Core Insights - The report emphasizes that the computer industry is driven by model iteration, application breakthroughs, and domestic computing power leadership, with a buy rating for the sector [2][4][17]. Industry Overview - The AI infrastructure sector is transitioning from "testing and trial" to "large-scale rollout in 2026" for domestic AI chip replacements, with a narrowing gap between domestic and international leading models [8][17][26]. - The AI application sector is categorized into three types of companies: those with recognized benchmark clients but in early stages, those with long-term trends but uncertain timelines, and those leveraging AI with reachable inflection points [8][17][19]. - The EDA and R&D software sector is seeing rapid improvement in domestic product capabilities, with mergers and acquisitions expected to accelerate due to policy support [8][17][21]. - In the intelligent driving and robotics sector, the report suggests focusing on competitive chip tracks, overseas expansion, and new autonomous driving opportunities, recommending global AMR leader Geek+ [8][18][21]. - The report notes that traditional trust and innovation directions are facing funding delays, while the release of HarmonyOS PC in 2025 is seen as a catalyst for business growth and technological upgrades [8][18][21]. - The energy information sector is expected to benefit from stable capital expenditures and market reforms, although policy implementation timelines need to be monitored [8][18][21]. Key Companies - In the AI infrastructure sector, recommended companies include Cambricon, Inspur, and Unisoc, with attention to Sugon [8][19]. - For AI applications, notable companies are Jingtaikong, Rainbowsoft, and Kingdee International, with additional focus on Hancloud and Guangyun Technology [8][19][21]. - In the intelligent driving and robotics sector, key players include Geek+, Black Sesame Intelligence, and Rui Ming Technology, with recommendations to monitor Desay SV and SOTER [8][19][21]. - In the EDA and R&D software sector, companies like GigaDevice, Gexin Electronics, and BGI are highlighted, with attention to Zhongkong Technology and Haocen Software [8][19][21]. - For trust and innovation, recommended companies include Kingsoft and Softcom, with additional focus on Taiji Co. and China Software International [8][19][21]. - In the energy information sector, notable companies are Guoneng Rixin and Longxin Group, with attention to State Grid Information and South Grid Digital [8][19][22].