人民财讯9月30日电，企查查APP显示，近日，星火智法(上海)科技有限公司成立，法定代表人为雍文 渊，注册资本1000万元，经营范围包括人工智能应用软件开发、计算机软硬件及辅助设备零售、电力电 子元器件销售等。企查查股权穿透显示，该公司由科大讯飞（002230）旗下讯飞智元信息科技有限公司 全资持股。 ...

9 月 29 日晚，科大讯飞发布《 2025 年度向特定对象发行 A 股股票预案（修订稿）》，拟 变更募集资金用途。 【导读】科大讯飞大幅调整定增方案 中国基金报记者 卢鸰 值得注意的是，在 8 月 22 日发布定增预案之后， 8 月 26 日国务院公开发布了《关于深入 实施 " 人工智能 +" 行动的意见》，明确 " 强化智能算力统筹；支持人工智能芯片攻坚创新 与使能软件生态培育，加快超大规模智算集群技术突破和工程落地 "，" 加强智能算力互联互 通和供需匹配，创新智能算力基础设施运营模式 " 。 科大讯飞称，国家高度重视自主可控大模型算力建设，租用算力模式在国家政策支持下更具 合理性。 基于国产算力进行训练和推理的效率与使用英伟达算力存在较大差距，科大讯飞通过与华 为、中科海光、寒武纪等国产算力厂商建立长期紧密联合攻关协作机制，深度使用国产算力 集群，发现并解决了多个国产算力底层软硬件的隐藏问题。 | 序号 | 募集资金投向 | 投资总额 | 拟使用募集资金 | | --- | --- | --- | --- | | | 星火教育大模型及典型产品 | 112,571.00 | 80,000.00 | | ...

Core Viewpoint - The company Keda Xunfei has significantly revised its fundraising plan for the issuance of A-shares, changing the allocation of raised funds while maintaining the total amount at 4 billion yuan [1]. Fundraising Allocation - The revised fundraising plan includes a total investment of 432.571 million yuan, with 400 million yuan allocated for specific uses. The allocation is as follows: - 80 million yuan for the Spark Education large model and typical products - 240 million yuan for the computing power platform - 80 million yuan for supplementing working capital - Compared to the previous plan released on August 22, the amount for working capital has been reduced from 320 million yuan to 80 million yuan, while an additional 240 million yuan has been allocated to the computing power platform project, which now accounts for approximately 60% of the total fundraising [2][3]. Computing Power Platform Project - The computing power platform project aims to expand computing resources to support the iterative upgrades of the Spark cognitive large model. It will also provide computational support for the continuous optimization of various large models, including the Spark X1 model and multi-modal large models [3]. - The project aligns with national policies that emphasize the importance of autonomous and controllable large model computing power construction, making the rental of computing power more reasonable under government support [4]. National Policy Support - The recent government policy encourages the strengthening of intelligent computing power coordination and supports innovation in artificial intelligence chips. This includes accelerating breakthroughs in large-scale intelligent computing clusters and enhancing the operational models of intelligent computing infrastructure [4][5]. Global Market Strategy - Keda Xunfei plans to enhance the multi-language support capabilities of its large models, targeting overseas market demands. The company aims to optimize its technology to fit local language habits, cultural contexts, and industry applications, particularly for partners in countries along the "Belt and Road" initiative [5]. Stock Performance - As of September 29, Keda Xunfei's stock closed at 53.95 yuan per share, with a market capitalization of 124.7 billion yuan [5].

相对于8月22日发布的定增预案，科大讯飞本次修改后的方案中，40亿元的定增募资总额不变，星火教育大模型及典型产品项目8亿元的募资金额也不变； 但用于补充流动资金的金额由32亿元下调为8亿元，另外新增募集资金24亿元用于算力平台项目，该项目募资金额约占本次融资规模的60%。 【导读】科大讯飞大幅调整定增方案 中国基金报记者 卢鸰 9月29日晚，科大讯飞发布《2025年度向特定对象发行A股股票预案（修订稿）》，拟变更募集资金用途。 基于国产算力进行训练和推理的效率与使用英伟达算力存在较大差距，科大讯飞通过与华为、中科海光、寒武纪等国产算力厂商建立长期紧密联合攻关协 作机制，深度使用国产算力集群，发现并解决了多个国产算力底层软硬件的隐藏问题。 此外，《关于深入实施"人工智能+"行动的意见》还提出，要推动人工智能普惠共享。把人工智能作为造福人类的国际公共产品，打造平权、互信、多 元、共赢的人工智能能力建设开放生态。 对此，科大讯飞表示，公司算力平台项目的实施，将持续增强星火大模型的多语言支持能力，在为世界提供第二种选择的同时，将形成公司业务收入的新 增长点。 讯飞多语种大模型下一步将锚定海外市场落地需求，针对不同区域 ...

Group 1 - The core viewpoint of the article highlights the active performance of the robotics sector in the A-share market, with a notable increase in the robotics ETF (159770) and significant capital inflow [1] - As of September 30, the robotics ETF (159770) rose by 0.7% with a trading volume of 187 million yuan and a net subscription of 37.5 million units [1] - The component stocks of the robotics ETF saw substantial gains, with Yuntian Lifei-U increasing over 6%, and other stocks like Yijiahe and Keda Xunfei also showing strong performance [1] Group 2 - Data from Wind Financial Terminal indicates that the robotics ETF (159770) has experienced three consecutive days of net capital inflow, totaling nearly 470 million yuan [1] - The robotics ETF (159770) tracks the CSI Robotics Index, selecting securities from listed companies related to robotics as index samples [1] - The Ministry of Industry and Information Technology, along with five other departments, released the "Mechanical Industry Stabilization and Growth Work Plan (2025-2026)" [1] Group 3 - CITIC Securities anticipates a comprehensive bullish trend in the humanoid robotics sector for Q4, driven by optimistic business communication volumes for Tesla's humanoid robots and active shipments of domestic humanoid robots [1] - Recommendations include focusing on the T-chain and suggesting attention to sectors with better industrial trends, faster growth in sensors, dexterous hands, vertical applications, and domestic supply chains [1]

Core Viewpoint - The digital economy sector is experiencing strong growth, driven by advancements in semiconductor technology, AI demand, and domestic production capabilities [1][2]. Group 1: Market Performance - As of September 30, 2025, the CSI Digital Economy Theme Index (931582) rose by 1.28%, with notable gains from stocks such as Zhaoyi Innovation (603986) up 5.85% and Deepin Technology (300454) up 4.19% [1]. - The Digital Economy ETF (560800) increased by 1.11%, with a trading volume of 3.29 million yuan and a turnover rate of 0.46% [1]. - Over the past month, the average daily trading volume of the Digital Economy ETF was 33.59 million yuan [1]. Group 2: Technological Advancements - The Wuhan National Information Optoelectronics Innovation Center achieved a significant breakthrough by launching a fully autonomous 12-inch silicon photonics solution, which has been deployed in over 40 domestic research institutions and enterprises [1]. - Global semiconductor foundry prices are experiencing significant fluctuations, with TSMC's 2nm process pricing up 50% compared to the previous 3nm process, and major players like Samsung and Micron raising DRAM and NAND flash prices by over 30% for certain models [1]. Group 3: Industry Insights - The semiconductor industry is showing robust performance, driven by AI computing demand, domestic substitution logic, and policy support [2]. - The digital chip sector is propelled by AI computing needs, while the semiconductor equipment sector benefits from AI data center demand and deepening domestic substitution [2]. - The CSI Digital Economy Theme Index includes companies involved in digital economy infrastructure and high digitalization applications, reflecting the overall performance of digital economy-related stocks [2]. Group 4: Key Stocks - As of August 29, 2025, the top ten weighted stocks in the CSI Digital Economy Theme Index accounted for 53.36% of the index, with notable companies including Dongfang Wealth (300059) and Cambricon (688256) [2].

Core Insights - The article highlights the evolution and achievements of iFlytek, showcasing its advancements in AI technologies and its commitment to building a self-controlled general artificial intelligence system [1][2][5] Group 1: Technological Advancements - iFlytek officially launched the iFlytek Spark model on May 6, 2023, and the iFlytek Spark 4.0 Turbo on October 24, 2024, which surpassed GPT-4 Turbo in seven core capabilities within the Chinese language domain [2] - The company introduced the first deep reasoning model based on a fully domestic computing platform, iFlytek Spark X1, in January 2025, and upgraded the Spark 4.0 Turbo with industry-first mixed-domain knowledge search technology [2] - iFlytek Spark X1 saw significant improvements in various tasks such as mathematics, coding, logic reasoning, text generation, language understanding, and knowledge Q&A, while maintaining a parameter count an order of magnitude lower than competitors [2] Group 2: Strategic Development - iFlytek Spark, based in Nanjing Xuanwu, aims to create a self-controlled general AI system and serve as a digital economy innovation engine across the nation [3] - The company has established a "three-in-one" full-stack service capability encompassing basic research, scenario implementation, and ecosystem co-construction [3] - iFlytek Spark has been involved in the formulation of national industry standards and has developed a complete technical system covering algorithm research, system security, and engineering implementation [3] Group 3: Ecosystem and Collaboration - iFlytek Spark actively participates in the construction of the national new generation AI governance system and collaborates with industry partners like Cambricon and Huawei Ascend to achieve full-stack technology ecosystem adaptation [4] - The company has developed benchmark products such as the iFlyCode intelligent programming assistant, which has received top-level certification for trustworthy AI coding tools [3][4] Group 4: Vision and Mission - iFlytek's mission emphasizes creating social value and addressing public needs through technological advancements, aiming to liberate productivity and unleash imagination with AI [5] - The company is focused on strategic directions such as code models and intelligent coding, continuously increasing investment in cutting-edge technology research and development [5] - iFlytek aims to become a globally competitive digital economy innovation hub, driving high-quality development in the digital economy [5]

Group 1 - The company held its 15th meeting of the 6th Board of Directors on September 29, 2025, where all 10 attending directors approved the proposal to adjust the plan for issuing A-shares to specific targets for 2025 [2][5][9] - The total amount of funds raised from the issuance of A-shares is not to exceed 400,000 million yuan, and the funds will be used for specific projects after deducting issuance costs [3][19] - The proposal to adjust the use of raised funds was reviewed and approved by the Board's Audit Committee, and it will be submitted to the shareholders' meeting for approval [4][6][8] Group 2 - The company has prepared a feasibility analysis report for the use of raised funds, which was also approved by the Board [7][22] - The company has developed measures to mitigate the dilution of immediate returns for shareholders due to the issuance of new shares, ensuring that these measures will be effectively implemented [9][23][36] - The company will hold a second extraordinary shareholders' meeting on October 15, 2025, to discuss the approved proposals [46][48]

Core Viewpoint - The company, iFlytek, is revising its fundraising plan for 2025 to include a new "computing power platform" project, allocating 2.4 billion yuan for this initiative while maintaining the total fundraising amount at 4 billion yuan [1] Group 1: Fundraising and Investment Plans - iFlytek plans to raise up to 4 billion yuan, with 800 million yuan allocated for the Spark Education large model and typical products, and 3.2 billion yuan initially intended for working capital [1] - The revised plan introduces a third project, the "computing power platform," which will receive 2.4 billion yuan, while the working capital allocation is reduced to 800 million yuan [1] - The adjustments are subject to approval at the shareholders' meeting [1] Group 2: Computing Power Strategy - iFlytek will implement the computing power platform project through a computing power leasing model, aiming to expand computing capacity to support large model research and algorithm innovation [2] - The demand for computing power is increasing due to the growing scale of model parameters and training data, alongside the rising computational requirements of deep reinforcement learning [2] - The company faces challenges due to the relatively late start of domestic AI chips and a weak domestic computing power software ecosystem, leading to a "bottleneck" issue in computing power [2] Group 3: Collaboration and Recognition - iFlytek has established long-term collaborations with domestic computing power manufacturers such as Huawei and Cambrian, focusing on utilizing domestic computing clusters to address hidden issues in the underlying software and hardware [3] - The company's efforts in optimizing the use of computing resources have garnered recognition and support from national and local governments [3]

Core Viewpoint - The company, Keda Xunfei, has revised its fundraising plan for the issuance of A-shares, reallocating the use of raised funds to focus on computing power leasing in response to the rapid development of AI and large model technologies [1] Fundraising Plan - The total amount of funds to be raised remains unchanged, with the amount allocated for working capital reduced from 3.2 billion to 800 million [1] - 2.4 billion will be allocated for specialized expenditures related to computing power leasing [1] Computing Power Leasing Project - The company aims to implement a computing power platform project through a leasing model, expanding its computing power scale to support the development of large models and continuous algorithm innovation [1] - This project will enhance the base model upgrades for the Xunfei Spark cognitive large model and provide computing power support for the optimization of various models, including the Spark X1 model and multi-modal models [1] Strategic Implications - The expansion of computing resources is expected to improve the company's capability to provide multi-language large models for global clients, enhancing its technical strength for overseas AI business expansion [1] - The initiative is anticipated to create a new growth point for the company's business revenue [1]