本报讯 （记者张文湘见习记者占健宇）近日，QECon 2025全球软件质量&效能大会在上海成功举办， 上海岩山科技股份有限公司（以下简称"岩山科技"）相关负责人受邀出席并作主题演讲。据悉，该会议 是国内软件质量与效能领域最具影响力的技术盛会之一，长期致力于推动行业技术创新与实践经验分 享。 岩山科技相关负责人表示，未来将继续坚持以创新驱动发展，深化核心技术积累，拓展跨界应用场景， 为上海乃至全国的科技创新和数字经济高质量发展提供支撑。 （文章来源：证券日报） 据了解，岩山科技作为国内较早投身人工智能领域的创新企业，自2023年起便将人工智能业务视为推动 新一轮增长的战略方向，在人工智能领域的智能驾驶、脑机接口及类脑智能、生成式AI（人工智能） 等新兴前沿领域进行了深入布局，并已取得一定进展。 ...

岩山科技旗下岩思类脑致力于人工智能和脑科学交叉领域的前瞻性研究和创新。近日，岩思类脑联合华 山医院、中国科学院上海微系统与信息技术研究所、浙江大学等自主研发的脑电大模型，在标准临床电 极上实现了高精度、强泛化能力的中文解码，未来有望为渐冻症、脑卒中等失语患者重建日常语言交流 功能。这一重大突破标志着我国在脑机接口语言解码领域，特别是针对中文这一复杂语言系统的研究已 走在国际前沿。 作为扎根浦东20余年的高新技术企业，岩山科技自创立以来始终积极响应国家科技创新战略，深度融入 上海市产业发展规划与科技创新布局。岩山科技将持续强化关键核心技术攻关，推动人工智能与实体经 济深度融合，为上海打造国际数字之都、建设具有全球影响力的科创中心贡献力量。 中证报中证网讯（王珞）据9月17日岩山科技（002195）微信公号，近日，QECon 2025全球软件质量& 效能大会于上海成功举办，岩山科技相关负责人受邀出席并作主题演讲。QECon大会是全球软件质量与 效能领域的重要交流平台，一直致力于推动行业技术创新与实践分享。此次参会进一步印证了岩山科技 在AI测试领域的技术创新能力。 另据上海发布报道，9月17日，上海市市委副书记、 ...

Core Viewpoint - In the first half of 2025, while many self-developed model companies in the A-share market faced losses, Yanshan Technology reported a profit of 67.11 million yuan, a year-on-year increase of 81.51%, despite a revenue decline of 6.38% to 317 million yuan, raising questions about the sustainability of its high market valuation of 50 billion yuan [1][2]. Revenue and Profit Analysis - Yanshan Technology's revenue for the first half of 2025 was 317 million yuan, down 6.38% year-on-year, while net profit was 67.11 million yuan, up 81.51% year-on-year [2]. - The company's revenue heavily relies on traditional internet value-added services, with 94.58% coming from this segment, while AI-related business revenue plummeted by 72.3% to 9.52 million yuan, resulting in a negative gross margin of -12.95% [2][10]. - The overall gross margin for the company was 27.43%, a decline of nearly 20 percentage points compared to the same period last year [2]. AI Business Performance - Yanshan Technology's AI initiatives, including smart driving and brain-computer interface projects, have not generated significant revenue and are described as "loss-making black holes" [2]. - The subsidiary Nullmax reported a revenue of 9.52 million yuan and a loss of 86.99 million yuan in the first half of 2025, compared to 34.38 million yuan in revenue and 27.96 million yuan in losses in the same period last year [3][4]. - The Yan architecture model, launched by Yanshan Technology, is still in its early stages, with revenue of 2.426 million yuan and a loss of 40.95 million yuan reported in 2024 [5]. Investment Gains - The significant increase in net profit is attributed to investment gains, specifically from stock trading, which contributed 120 million yuan in fair value changes, a turnaround from a loss of 4.7 million yuan in the previous year [6][7]. - The primary source of this investment gain was the substantial increase in the stock price of Innovation Medical, which rose 79% from 7.96 yuan to 14.25 yuan per share, generating over 100 million yuan in "floating profit" for the company [7]. Financial Structure and Market Valuation - As of mid-2025, Yanshan Technology's total assets reached 10.587 billion yuan, with trading financial assets exceeding 5.676 billion yuan, accounting for over 50% of total assets [10]. - Despite a strong cash position, the company has not issued dividends in 2024 or mid-2025, contrasting with many other A-share companies [10]. - Yanshan Technology's R&D expenditure of 170 million yuan is significantly lower than its peers, with companies like iFlytek spending 2.07 billion yuan, indicating a potential mismatch between its high market valuation and R&D investment [11][12]. Market Perception and Future Outlook - The high market valuation of Yanshan Technology is perceived as a result of its "AI concept" rather than solid fundamentals, raising concerns about the sustainability of its valuation if it cannot achieve breakthroughs in AI business [12]. - Analysts suggest that the reliance on investment income for profitability poses risks, as market fluctuations could lead to significant declines in both performance and valuation [12].

截至2025年9月17日收盘，岩山科技（002195）报收于8.61元，较前一交易日下跌2.38%，最新总市值为 488.23亿元。该股当日开盘8.72元，最高8.82元，最低8.55元，成交额达65亿元，换手率为13.44%。 以上内容为证券之星据公开信息整理，由AI算法生成（网信算备310104345710301240019号），不构成 投资建议。 最新公告列表 《关于使用闲置自有资金进行投资理财的进展公告》 公司近日发布公告，披露了使用闲置自有资金进行投资理财的进展情况。根据公告，上海岩山科技股份 有限公司于2025年5月30日召开董事会及监事会，于2025年6月24日召开股东大会，审议通过使用不超过 60亿元闲置自有资金进行委托理财，有效期12个月，额度可滚动使用。近期新增购买多款理财产品，包 括ETF、FOF资产管理计划、私募基金、结构性存款及国债逆回购等，投资主体涵盖公司及控股子公 司，合计金额107,161.31万元，资金来源均为闲置自有资金，产品类型主要为非保本浮动收益型和保本 浮动收益型。公司已制定风险控制措施，包括授权管理层决策、内部审计监督、独立董事检查等。截至 公告日，前十二个月内累计 ...

Group 1 - Shenzhen Yanshan Juneng Technology Co., Ltd. has been established with a registered capital of 10 million yuan [1] - The legal representative of the company is Hao Xianglin [1] - The business scope includes new material technology research and development, nuclear power equipment complete sets and engineering technology research and development, superconducting material manufacturing, and integrated circuit chip design and services [1] Group 2 - The company is wholly owned by Yanshan Juneng (Shanghai) Technology Co., Ltd. [1] - Yanshan Juneng (Shanghai) Technology Co., Ltd. is jointly held by Yanshan Technology (002195) and Tibet Yanshan Investment Management Co., Ltd. [1]

证券代码：002195 证券简称：岩山科技 公告编号：2025-049 上海岩山科技股份有限公司 关于使用闲置自有资金进行投资理财的进展公告 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、误导性陈述或者重大遗漏。 一、购买理财产品的基本情况 上海岩山科技股份有限公司（以下简称"公司"）分别于2025年5月30日召 开第八届董事会第二十次会议、第八届监事会第十六次会议，于2025年6月24 日召开2024年度股东大会，均审议通过了《关于增加使用闲置自有资金购买理 财产品额度的议案》，同意公司（含控股子公司）使用不超过（含）人民币60 亿元的闲置自有资金进行委托理财，有效期为自2024年度股东大会审议通过该 议案之日起的12个月内，在有效期内该等资金额度可滚动使用。详见公司于2025 年6月3日、2025年6月25日刊登在《中国证券报》《上海证券报》《证券日报》 《证券时报》和巨潮资讯网（www.cninfo.com.cn）的相关公告。 2、公司内部审计部负责审查理财业务的审批情况、实际操作情况、资金使 用情况及盈亏情况等，督促财务部及时进行账务处理，并对账务处理情况进行核 实，在每个 ...

格隆汇9月16日丨岩山科技(002195.SZ)在投资者互动平台表示，截至目前，公司未与宇树科技展开合 作，关于公司的相关信息请以公司指定信披媒体和巨潮资讯网披露的公告为准。 ...

Group 1 - The company, Yan Mountain Technology, confirmed that it has not established any cooperation with Yushu Technology as of September 16 [1] - The company advised investors to refer to official announcements disclosed through designated media and the Giant Tide Information Network for accurate information [1] - The company urged investors to critically assess online information to avoid being misled by false information [1]

Group 1 - The Zhongzheng Shanghai-Hong Kong-Shenzhen Game and Cultural Media Index (931580) has seen a strong increase of 1.59%, with notable gains from Perfect World (002624) up 10.01%, China Film (600977) up 8.83%, and 37 Interactive Entertainment (002555) up 7.43% [1] - The Game Media ETF (517770) rose by 1.57%, with the latest price reported at 1.29 yuan [1] - The acceleration of AI application commercialization is driven by continuous iterations of large models, with Alibaba's recent release of Qwen3-Next-80B-A3B showcasing significant innovations in training cost and efficiency [1] Group 2 - Open Source Securities highlights that the iteration of domestic large models towards stronger multimodal, reasoning, and agent performance may accelerate AI commercialization across various sectors including content creation, social media, advertising, e-commerce, education, and finance [2] - The Zhongzheng Shanghai-Hong Kong-Shenzhen Game and Cultural Media Index selects 50 listed companies involved in gaming, film, broadcasting, marketing, publishing, education, and cultural performances to reflect the overall performance of the theme in the markets [2] - As of August 29, 2025, the top ten weighted stocks in the index include Kuaishou-W (01024), Tencent Holdings (00700), and Bilibili-W (09626), collectively accounting for 54.14% of the index [2]

Group 1 - The company, Yanshan Technology, closed at 7.62 yuan with a decline of 7.30% [1] - In August 2023, the company's name was changed from "Shanghai Ersan Siwu Network Holding Group Co., Ltd." to "Shanghai Yanshan Technology Co., Ltd." [1] - The last research report on the company was published by Guotou Securities on April 15, 2019, indicating high growth in performance and positive momentum in mobile business [1]