11月7日，拓维信息盘中下跌2.01%，截至14:06，报33.19元/股，成交8.31亿元，换手率2.18%，总市值 418.14亿元。 资金流向方面，主力资金净流出1.34亿元，特大单买入713.68万元，占比0.86%，卖出5923.10万元，占 比7.12%；大单买入1.07亿元，占比12.88%，卖出1.89亿元，占比22.79%。 拓维信息今年以来股价涨81.27%，近5个交易日跌3.12%，近20日跌5.39%，近60日涨3.36%。 今年以来拓维信息已经20次登上龙虎榜，最近一次登上龙虎榜为8月28日。 资料显示，拓维信息系统股份有限公司位于湖南省长沙市岳麓区桐梓坡西路298号，成立日期1996年5月 20日，上市日期2008年7月23日，公司主营业务涉及面向K-12的教育服务和基于手机游戏、动漫的移动 互联网产品。主营业务收入构成为：软件及服务72.71%，智能计算产品21.74%，其他5.55%。 截至9月30日，拓维信息股东户数45.91万，较上期增加1.17%；人均流通股2495股，较上期减少1.19%。 2025年1月-9月，拓维信息实现营业收入20.78亿元，同比减少29.43%； ...

截至11月5日收盘，华为欧拉概念下跌1.16%，位居概念板块跌幅榜前列，板块内，天亿马、品高股 份、卓易信息等跌幅居前，股价上涨的有7只，涨幅居前的有荣科科技、垒知集团、正元地信等，分别 上涨3.74%、1.46%、0.62%。 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（%） | | --- | --- | --- | --- | | 海南自贸区 | 4.61 | MLOps概念 | -1.57 | | 柔性直流输电 | 4.13 | 华为欧拉 | -1.16 | | 特高压 | 3.36 | 重组蛋白 | -1.06 | | 钛白粉概念 | 3.15 | 数字货币 | -1.02 | | 智能电网 | 3.02 | 量子科技 | -0.97 | | 虚拟电厂 | 2.92 | EDR概念 | -0.97 | | 抽水蓄能 | 2.56 | 国家大基金持股 | -0.89 | | 光伏建筑一体化 | 2.53 | 数字水印 | -0.88 | | 华为数字能源 | 2.52 | 财税数字化 | -0.86 | | 高压快充 | 2.44 | 华为昇腾 | -0.82 ...

11月5日，拓维信息盘中下跌2.02%，截至10:02，报33.43元/股，成交4.44亿元，换手率1.15%，总市值 421.16亿元。 资金流向方面，主力资金净流出5831.56万元，特大单买入1230.26万元，占比2.77%，卖出2736.54万 元，占比6.17%；大单买入4301.09万元，占比9.69%，卖出8626.36万元，占比19.44%。 拓维信息今年以来股价涨82.58%，近5个交易日跌4.10%，近20日跌7.50%，近60日涨4.37%。 拓维信息所属申万行业为：计算机-软件开发-垂直应用软件。所属概念板块包括：托育概念、华为盘 古、华为欧拉、华为昇思、彩票等。 截至9月30日，拓维信息股东户数45.91万，较上期增加1.17%；人均流通股2495股，较上期减少1.19%。 2025年1月-9月，拓维信息实现营业收入20.78亿元，同比减少29.43%；归母净利润1.05亿元，同比增长 852.03%。 分红方面，拓维信息A股上市后累计派现1.38亿元。近三年，累计派现0.00元。 机构持仓方面，截止2025年9月30日，拓维信息十大流通股东中，南方中证500ETF（510500） ...

内容概况：随着信息技术的飞速发展和教育改革的深入推进，智慧考场作为教育信息化的重要组成部 分，正逐步改变传统考试模式，推动考试向智能化、自动化、公平化方向发展。智慧考场通过融合人工 智能、大数据、云计算等先进技术，实现了对考试全过程的智能化管理，提高了考试的公正性、安全性 和效率。全球范围内，智慧考场市场正处于快速发展阶段。随着教育信息化的推进和考试需求的不断增 加，越来越多的国家和地区开始重视智慧考场的建设。欧美等发达国家在智慧考场领域起步较早，技术 水平和应用经验相对成熟。近年来，亚洲地区尤其是中国，在智慧考场市场也取得了显著进展，市场规 模不断扩大，技术水平逐步提升。数据显示，中国智慧考场行业市场规模从2017年的16.68亿元增长至 2024年的45.75亿元，年复合增长率为11.86%。展望未来，在高考、研究生入学考试等国家重要考试场 景的持续驱动下，智慧考场将逐步拓展其应用广度与深度，成为提升考试治理能力、维护教育公平不可 或缺的技术支撑与制度保障。 相关上市企业：拓维信息（002261）、佳发教育（300559）、科大讯飞（002230）、多伦科技 （603528）、海康威视（002415）、萤 ...

Group 1: Liquidity and Scale of Software ETF - The software ETF had an intraday turnover of 6.26% and a transaction volume of 366 million yuan [1] - Over the past month, the software ETF's average daily transaction volume reached 569 million yuan, ranking first among comparable funds [1] - In the past week, the software ETF's scale increased by 19.89 million yuan, also ranking first among comparable funds [1] - Over the last 17 trading days, the software ETF attracted a total of 827 million yuan in inflows [1] Group 2: Performance and Returns - As of October 31, the software ETF's net value has increased by 10.46% over the past three years [1] - The highest monthly return since inception was 39.35%, with the longest consecutive monthly gains being three months and the longest cumulative gain reaching 69.40% [1] - The average return during the months of increase was 10.06% [1] Group 3: Policy and Industry Outlook - The 20th Central Committee's Fourth Plenary Session emphasized high-level technological self-reliance as a key development goal [1] - In the context of major power technology competition, the trend towards domestic core software and hardware is expected to accelerate [1] - The "Suggestions" highlight the need for "extraordinary measures" to promote breakthroughs in key areas such as integrated circuits and foundational software [1] - Collaborative innovation between emerging technologies and foundational software is anticipated to be a significant driver of high-quality technological development during the 14th Five-Year Plan period [1] Group 4: Major Stocks in Software Service Index - As of October 31, 2025, the top ten weighted stocks in the CSI Software Service Index include iFlytek, Kingsoft Office, and Tonghuashun, collectively accounting for 63.09% of the index [2] - The weightings of the top stocks are as follows: iFlytek (13.80%), Tonghuashun (8.49%), Kingsoft Office (7.78%), and others [4] - Investors can also access AI software investment opportunities through the software ETF linked fund (012620) [4]

Group 1: ETF Performance and Market Trends - The software ETF experienced a turnover of 7.16% during trading, with a transaction volume of 410 million yuan [3] - Over the past month, the software ETF's scale increased by 615 million yuan, indicating significant growth [3] - In the last 16 trading days, the software ETF attracted a total of 831 million yuan in inflows [3] - As of October 30, the software ETF's net value has risen by 12.61% over the past three years [3] - The highest monthly return since inception was 39.35%, with the longest consecutive monthly gains being three months and a maximum increase of 69.40% [3] - The average return during the months of increase was 10.06% [3] Group 2: Software Industry Performance - According to the Ministry of Industry and Information Technology, the software and information technology service industry in China showed a positive performance in the first three quarters of 2025, with software business revenue reaching 1111.26 billion yuan, a year-on-year increase of 13.0% [3] - The total profit of the software industry was 143.52 billion yuan, reflecting a year-on-year growth of 8.7% [3] - Software business exports amounted to 45.94 billion USD, marking a year-on-year increase of 6.6% [3] - Software product revenue maintained stable growth, reaching 238.54 billion yuan in the first three quarters, a year-on-year increase of 10.9%, accounting for 21.5% of the total industry revenue [3] - Basic software product revenue was 13.83 billion yuan, up 11.2% year-on-year, while industrial software product revenue was 23.59 billion yuan, reflecting a 9.8% increase [3] Group 3: Future Outlook and Investment Opportunities - Longjiang Securities noted that in the context of intensified Sino-U.S. technology competition, achieving complete autonomy in key areas is essential for China's technological development [4] - The domestic software systems have gradually developed innovative capabilities, transitioning from "usable" to "user-friendly" [4] - As key policy assessment years (such as 2025 and 2027) approach, the domestic chip and operating system industries related to the Xinchuang industry are expected to benefit [4] - As of September 30, 2025, the top ten weighted stocks in the CSI Software Service Index included companies like iFLYTEK, Tonghuashun, and Kingsoft Office, collectively accounting for 62.41% of the index [4] - Investors can also consider the software ETF linked fund (012620) to capitalize on AI software investment opportunities [4]

Core Insights - The Social Security Fund has made significant adjustments to its stock holdings in Q3, with 187 new positions, 156 increases, and 181 reductions in holdings across 615 stocks [1][2] Summary by Category New Positions - The Social Security Fund established new positions in 187 stocks during Q3, with notable entries including China Metallurgical Group, holding 100.36 million shares, and Longi Green Energy, with 79.08 million shares [1][2] - The highest ownership percentage among new positions is in Weilon Co., at 5.60%, followed by Huabao New Energy at 4.96% [1][2] Performance Metrics - Among the new positions, 113 companies reported year-on-year net profit growth, with Huazheng New Materials showing the highest increase of 1042.19% [2] - The average performance of new stocks since October has seen a decline of 1.71%, underperforming the Shanghai Composite Index [2] Notable Stocks - The best-performing new stock is Beifang Changlong, with a cumulative increase of 33.21%, followed by Shengyi Technology and Dongfang Tieta, which rose by 28.66% and 26.50%, respectively [2] - The largest decline was observed in Lexin Technology, which fell by 23.60% [2] Sector Distribution - The new positions span various sectors, including machinery, electric power equipment, basic chemicals, and pharmaceuticals, indicating a diversified investment strategy by the Social Security Fund [1][2]

Core Insights - The third quarter report reveals that the social security fund has newly invested in 153 stocks, with a total of 4,277 companies having disclosed their quarterly results [1] - The social security fund is present in 489 stocks, with movements including 124 increases, 141 decreases, and 71 stocks remaining unchanged in holdings [1] - The stocks with the highest new holdings by the social security fund include Jiuzhoutong, Jiangsu Jinzu, and Dongfang Tieta, with holdings of 70.84 million shares, 45.65 million shares, and 45.31 million shares respectively [1] Investment Activity - The social security fund's new investments include 92 companies that reported year-on-year net profit growth, with Huazheng New Materials showing the highest increase of 1,042.19% [2] - The average increase of newly invested stocks since October is 0.22%, underperforming the Shanghai Composite Index [2] - Notable performers among the newly invested stocks include Beifang Changlong with a cumulative increase of 41.55%, followed by Shengyi Technology and Dongfang Tieta with increases of 28.32% and 23.29% respectively [2] Stock Holdings Overview - The top new stocks held by the social security fund include: - Weilon Co., Ltd. with 858.76 million shares, representing 5.60% of circulating shares [2] - Huabao New Energy with 378.08 million shares, representing 4.96% [2] - Changhua Chemical with 259.07 million shares, representing 4.85% [2] - Other significant holdings include Dongfang Tieta with 45.31 million shares and Jiankong Coal with 44.67 million shares, both representing over 2% of circulating shares [2][3] Performance Metrics - The net profit growth leaders among newly invested stocks include: - Huazheng New Materials with a net profit of 62.61 million yuan, a year-on-year increase of 1,042.19% [2] - Tuowei Information and Sanyou Medical with increases of 852.03% and 623.19% respectively [2] - The stock with the largest decline is Hainan Huatie, which has decreased by 23.24% [2]

Group 1 - The changes in heavy holdings of social security funds and public funds are closely monitored as they represent core forces in the capital market [1] - As of October 29, 3108 stocks have public funds among their top ten circulating shareholders, with Ningde Times, Kweichow Moutai, and Zhongji Xuchuang being the top three by market value [1] - Social security funds are present in the top ten circulating shareholders of 456 stocks, with a total holding market value of 117.77 billion yuan, including 19 stocks with holdings exceeding 1 billion yuan [1] Group 2 - Social security funds show a preference for leading companies, concentrating on them to enhance portfolio stability, reflecting a long-term value investment philosophy [1] - The technology innovation sector has become a new allocation direction, with significant increases in industries like communications and electronics that align with industrial upgrades [1][2] - Both social security and public funds have shown a strong interest in the electronics industry, with notable increases in holdings of companies like Xinwei Communication and Yilian Network [2] Group 3 - The commonality between social security funds and public funds lies in their core demand for long-term asset preservation and appreciation, though their operational styles differ [3] - Public funds tend to be more flexible in seizing investment opportunities due to dual pressures of assessment and scale, leading to higher concentration in their investment portfolios [3] - Social security funds focus on long-term performance benchmarks and have a more stable investment style, often holding stocks for longer periods [3]

Core Insights - The stock price of Tuowei Information has decreased by 2.01% to 34.05 CNY per share, with a total market capitalization of 42.897 billion CNY as of October 29 [1] - The company has seen a significant increase in stock price by 85.96% year-to-date, but has experienced a decline of 1.70% over the last five trading days and 8.32% over the last twenty days [1] - Tuowei Information's revenue for the first nine months of 2025 was 2.078 billion CNY, a year-on-year decrease of 29.43%, while net profit attributable to shareholders increased by 852.03% to 105 million CNY [2] Financial Performance - The company has reported a cumulative cash distribution of 138 million CNY since its A-share listing, with no cash distribution in the last three years [3] - As of September 30, 2025, the number of shareholders increased to 459,100, with an average of 2,495 circulating shares per person, a decrease of 1.19% [2] Shareholder Structure - The top ten circulating shareholders include Southern CSI 500 ETF, which holds 14.6368 million shares, a decrease of 321,100 shares from the previous period [3] - Hong Kong Central Clearing Limited has increased its holdings to 12.5161 million shares, an increase of 7.8078 million shares [3] - New entrants among the top shareholders include Huafu CSI Artificial Intelligence Industry ETF, holding 4.2782 million shares [3]