Group 1 - The company is actively involved in providing cybersecurity, data security, and cloud computing solutions to various industries [2] - The company acknowledges the importance of security in the context of artificial intelligence, data integration, and the Internet of Things [2] - The company plans to enhance its offerings to ensure security in robotic applications in the future [2]

Group 1 - The core viewpoint of the news is that Tianrongxin (002212) has experienced a decline in stock price and significant net outflow of funds, while showing mixed performance in its latest financial results [1][3] - As of July 29, 2025, Tianrongxin's stock closed at 8.15 yuan, down 0.12%, with a turnover rate of 2.66% and a trading volume of 310,900 hands, amounting to 251 million yuan [1] - The company reported total revenue of 336 million yuan for Q1 2025, a year-on-year decrease of 20.45%, while net profit attributable to shareholders was 68.39 million yuan, an increase of 23.43% [1] Group 2 - The company has a current ratio of 2.668, a quick ratio of 2.365, and a debt-to-asset ratio of 13.19%, indicating a strong liquidity position [1] - Tianrongxin has made investments in 5 companies and participated in 147 bidding projects, showcasing its active engagement in the market [2] - The company was established in 1985 and is primarily engaged in software and information technology services, with a registered capital of approximately 11.79 billion yuan [1][2]

Group 1 - The State Intellectual Property Office of China has granted a patent for "Network Topology Update Method, Device, Electronic Equipment, and Storage Medium" to multiple companies under the Tianrongxin brand, with the patent announcement number CN115914076B and application date in December 2022 [1] - Hubei Tianrongxin Network Security Technology Co., Ltd. was established in 2000, located in Wuhan, with a registered capital of 30 million RMB. The company has participated in 19 bidding projects and holds 231 patents [1] - Beijing Tianrongxin Network Security Technology Co., Ltd. was founded in 1995, located in Beijing, with a registered capital of 35 million RMB. The company has invested in 45 enterprises, participated in 5000 bidding projects, and holds 2763 patents [1] Group 2 - Beijing Tianrongxin Technology Co., Ltd. was established in 2003, located in Beijing, with a registered capital of approximately 7.58 million RMB. The company has invested in 11 enterprises and participated in 487 bidding projects, holding 2688 patents [2] - Beijing Tianrongxin Software Co., Ltd. was founded in 2012, located in Beijing, with a registered capital of 50 million RMB. The company has invested in 1 enterprise, participated in 5 bidding projects, and holds 2664 patents [2]

天融信科技集团股份有限公司 证券代码：002212 证券简称：天融信 公告编号：2025-038 2025 年第三次临时股东会决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、 误导性陈述或重大遗漏。 特别提示： 1、本次股东会未出现否决提案的情形。 2、本次股东会不涉及变更以往股东会已通过的决议。 一、会议召开情况 （一）会议召开时间： 1、现场会议召开时间：2025 年 7 月 24 日 14:30 2、网络投票时间：2025 年 7 月 24 日 通过深圳证券交易所交易系统进行网络投票的具体时间为：2025年7月24日9:15-9:25、 9:30-11:30和13:00-15:00；通过深圳证券交易所互联网投票的具体时间为：2025年7月24日9:15 至15:00期间的任意时间。 （二）现场会议召开地点：广东省汕头市金平区龙光世纪海岸 LCC 写字楼 6 栋 1407 1 （三）会议召开方式：现场表决与网络投票相结合的方式 （四）会议召集人：天融信科技集团股份有限公司（以下简称"公司"）董事会 投票的股东 806 人，代表股份数量 14,297,708 股，占公司有表 ...

根据中国证券监督管理委员会发布的《上市公司股东会规则》(以下简称《股 东会规则》)的要求，国浩律师(广州)事务所(以下简称"本所")接受天融信科 技集团股份有限公司(以下简称"天融信")的委托，指派郭佳、李莎莎律师(以 下简称"本所律师")出席天融信 2025 年第三次临时股东会(以下简称"本次股 东会")，对本次股东会的召集与召开程序、出席会议人员与召集人的资格、表 决程序与表决结果等重要事项出具法律意见。 本所及本所律师依据《中华人民共和国公司法》(以下简称《公司法》)、《律 师事务所从事证券法律业务管理办法》和《律师事务所证券法律业务执业规则(试 行)》等规定及本法律意见书出具日以前已经发生或者存在的事实，严格履行了 法定职责，遵循了勤勉尽责和诚实信用原则，进行了充分的核查验证，保证本法 律意见书所认定的事实真实、准确、完整，所发表的结论性意见合法、准确，不 存在虚假记载、误导性陈述或者重大遗漏，并承担相应法律责任。 一、本次股东会的召集与召开 北 京 上 海 深 圳 杭 州 广 州 昆 明 天 津 成 都 宁 波 福 州 西 安 南 京 南 宁 济 南 重 庆 苏 州 长 沙 太 原 武 汉 贵 阳 ...

Summary of Conference Call on Stablecoins and Cybersecurity Industry Overview - The discussion revolves around the **stablecoin** industry, which is emerging as a significant tool for **cross-border payments** due to its advantages of convenience, low cost, and real-time transactions [2][3][8]. Key Points and Arguments - **Technological Risks**: Stablecoins face substantial cybersecurity risks, including system vulnerabilities and DDoS attacks, as evidenced by incidents like the theft of 400,000 Ether worth $1.5 billion [5][9]. - **Regulatory Developments**: Various regions are actively developing stablecoin regulations. For instance, Hong Kong is set to implement a stablecoin licensing system, while the U.S. Senate has passed the "Genius Act" to establish a regulatory framework [2][6]. - **Market Opportunities**: The rise of stablecoins is expected to create new opportunities in the cybersecurity market, particularly in infrastructure development and security assurance, as businesses increasingly rely on secure information systems for cross-border transactions [2][8][12]. - **Technological Components**: The technology behind stablecoins includes blockchain, smart contracts, encryption, and user identity verification, all of which are critical for ensuring security [7][12]. Important but Overlooked Content - **Current Stage of Development**: The stablecoin sector is at different stages globally, with the U.S. and Europe having more established infrastructure compared to Hong Kong, which is preparing for pilot projects, and mainland China, which is still in the research phase [11][14]. - **Cybersecurity Solutions**: The need for comprehensive cybersecurity solutions is emphasized, including risk assessments for cross-border data and compliance with data security laws [9][14]. - **Commercial Models**: The commercial model for stablecoin security solutions is still in exploration, focusing on providing integrated security solutions rather than standalone products [15]. - **Market Expansion**: The potential for cybersecurity firms to expand into international markets through stablecoin applications in Hong Kong is highlighted, as it simplifies cross-border transactions [19][21]. Future Outlook - The stablecoin market has significant growth potential, but its expansion is contingent on regulatory clarity. Once policies are established, the growth rate of stablecoins could surpass that of other technologies like quantum-resistant cryptography [22]. - The cybersecurity industry is expected to remain relevant as digitalization continues, with a call for increased attention from capital markets towards cybersecurity firms [23].

Investment Rating - The report maintains a "Positive" investment rating for the industry [7]. Core Insights - The computer sector saw a significant increase of 3.02% last week, ranking 7th among major industries, with a trading volume accounting for 10.43% of the total market [2][4]. - The report highlights the growing interest in stablecoins and related technologies, particularly in the context of recent regulatory developments in Hong Kong [6][26]. - The launch of xAI's Grok-4, which includes advanced AI capabilities, is expected to drive further innovation in the sector [19][20]. Summary by Sections Market Performance - The overall market continued its upward trend, with the Shanghai Composite Index surpassing the 3500-point mark, closing at 3510.18 points, reflecting a 1.09% increase [12]. - The computer sector's performance was notably strong, with a 3.02% rise, contributing significantly to the overall market dynamics [12]. Key Developments - The report emphasizes the importance of cryptography in the blockchain ecosystem, particularly as stablecoins gain traction [6][32]. - The implementation of the stablecoin regulations in Hong Kong is anticipated to accelerate the development of the stablecoin market, with major companies like JD.com and Ant Group actively participating [6][26]. Recommendations - The report suggests focusing on companies with strong cryptographic technology reserves and relevant qualifications, especially those linked to the financial industry [6][42]. - It also highlights the potential for investment opportunities in firms that possess the necessary licenses and technological capabilities in blockchain and cryptography [30][42].

Performance Forecast - The company expects significant reduction in losses during the performance forecast period from January 1, 2025, to June 30, 2025 [1] - The financial data for this performance forecast has not been audited by the accounting firm [1] Reasons for Performance Changes - The company continues to implement a quality improvement and efficiency enhancement strategy, achieving a year-on-year revenue growth of over 8% in the second quarter despite a complex market environment [1] - The company has optimized its market competition strategy and improved project selection mechanisms, resulting in a gross profit margin increase of over 4 percentage points year-on-year [1] - The company has strengthened internal management and cost control, leading to a reduction of over 13% in total sales, research and development, and management expenses year-on-year [1]

Core Viewpoint - Tianrongxin Technology Group Co., Ltd. (hereinafter referred to as "the company") expects significant growth in its financial performance for the first half of 2025, with projected revenue between 800 million to 850 million yuan and a net profit increase of 65.98% to 70.84% year-on-year [2] Financial Performance - The company anticipates a revenue increase of over 8% year-on-year for the second quarter [2] - The gross profit margin has improved by over 4 percentage points compared to the previous year [2] - Total expenses for sales, research and development, and management have decreased by over 13% year-on-year [2] Strategic Initiatives - The company is deepening its "AI + Security" strategy to capture the market for large model application security [2][3] - A significant upgrade to the Tianwen large model has been implemented, enhancing its intelligent defense capabilities [2] - The company has launched a comprehensive security protection framework for large models, covering the entire lifecycle of large model applications [3] Market Positioning - The company aims to become a leading provider of cybersecurity and intelligent computing cloud solutions in China over the next decade [3] - A partnership with Huawei has been established to develop an intelligent computing integrated machine based on the Kunpeng architecture [3] - The company has signed and is expected to sign orders exceeding 20 million yuan for the intelligent computing integrated machine, with annual sales projected to exceed 100 million yuan [4]

Core Viewpoint - Tianrongxin, a leading cybersecurity company, is expected to significantly reduce its losses in the first half of 2025, with projected revenues of 800 million to 850 million yuan and a net loss of 60 million to 70 million yuan, indicating a strong improvement in profitability [1] Group 1: Financial Performance - The company anticipates a year-on-year revenue growth of over 8% in the second quarter, suggesting it may have achieved profitability during this period [1] - Tianrongxin's gross margin has increased by over 4 percentage points year-on-year, while total sales, R&D, and management expenses have decreased by 13% compared to the previous year [1] Group 2: Strategic Initiatives - The company is advancing its "AI + Security" strategy, with significant upgrades to its Tianwen large model, transitioning from "rule-driven" to "intelligent decision-making" for cybersecurity defense [1] - Tianrongxin has successfully passed tests for its large model security gateway, receiving the first "Large Model Security Protection Fence Product Certification (Enhanced Level)" from the Ministry of Public Security [1] Group 3: Future Goals and Collaborations - The company's strategic goal for the next decade is to become a leading provider of cybersecurity and intelligent computing cloud solutions in China [2] - In March, Tianrongxin began a comprehensive partnership with Huawei to develop an intelligent computing integrated machine based on the Kunpeng architecture, aiming to support the digital transformation of critical industries in China [2] - The intelligent computing integrated machine is expected to generate over 100 million yuan in sales this year, with future cloud computing business goals targeting at least half the output of the security segment over the next 3-5 years [2] Group 4: Technological Developments - Tianrongxin is involved in research and application of technologies related to stablecoins, blockchain, zero trust, privacy computing, and commercial cryptography [2] - The company is participating in key infrastructure security projects for digital currency and cross-border payment in the financial industry [2]