Core Viewpoint - The company Tianyu Digital Science (天娱数科) is entering the energy sector through its subsidiary Zhongke Shoudian (中科售电), positioning itself as an "intelligent carbon service provider" amid the electricity market reform and dual carbon goals in China [1][3]. Company Overview - Zhongke Shoudian was established in August 2024 with a registered capital of 20.4 million RMB, focusing on electricity trading, energy model prediction, and comprehensive energy management [1]. - The company has obtained electricity trading qualifications in regions such as Liaoning, Hainan, and Shaanxi [1]. Business Model and Strategy - The company aims to leverage its "smart energy model + national service network" to help various industries reduce electricity costs and optimize carbon asset allocation, positioning itself as the "intelligent engine" of the electricity market [2]. - The AI-driven electricity sales model is characterized by proactive, two-way interactions that link electricity consumption and purchasing, allowing for intelligent decision-making [2][4]. Market Context - The electricity trading sector is undergoing significant changes, with a projected market size of over one trillion RMB by 2025 as the country aims for full coverage of the electricity spot market [3]. - The shift from traditional electricity purchasing to a more complex model that includes cost optimization, green electricity consumption, and carbon asset management is essential for meeting modern enterprise needs [3]. Technological Innovation - The company utilizes a self-developed AI model that incorporates vast amounts of electricity market data, weather data, and enterprise consumption data to enhance its services [6]. - Key functionalities of the model include precise load forecasting, dynamic pricing strategies, and real-time deviation control, which collectively help clients optimize their electricity costs [6][7]. Target Industries - The company has tailored its services for high-energy-consuming sectors such as data centers and advanced manufacturing, offering strategies that combine long-term contracts with spot market purchases to achieve cost savings [8][9]. - In the manufacturing sector, services include production scheduling optimization based on time-of-use electricity pricing and comprehensive green electricity solutions [9]. National Expansion - The company's strategy involves establishing a national service network, starting from Liaoning and expanding to other provinces like Guangdong, Zhejiang, and Ningxia [10]. - Future efforts will focus on enhancing the "AI + energy" capabilities and deepening the implementation of intelligent carbon services across various high-energy industries [11].

Core Viewpoint - Tianyu Digital Science (002354) is entering the electricity sales sector as an "intelligent carbon service provider," leveraging AI and data analytics to optimize energy management and reduce costs for enterprises in various industries [1][2]. Company Overview - Tianyu Digital Science's subsidiary, Zhongke Electricity Sales (Liaoning) Co., Ltd., was established in August 2024 with a registered capital of 20.4 million RMB, focusing on electricity trading, energy modeling, and comprehensive energy management [1]. - The company has obtained electricity trading qualifications in regions such as Liaoning, Hainan, and Shaanxi [1]. Business Model and Strategy - The company aims to create a digital energy service platform that integrates data and algorithms with electricity trading and carbon management, addressing the complex needs of enterprises under the "dual carbon" goals [2]. - The AI-driven electricity sales model emphasizes proactive, data-driven decision-making, moving away from traditional passive approaches [3]. AI Sales Model - The AI sales model is characterized by a two-way, proactive, and preemptive approach, linking electricity consumption and purchasing to optimize decision-making [3]. - The model utilizes a self-developed foundational model that incorporates vast amounts of market, weather, and consumption data to enhance operational efficiency [5]. Key Functionalities of the AI Model - The model performs three main functions: precise load forecasting, dynamic electricity pricing strategies, and real-time deviation control to ensure alignment between electricity consumption and purchasing [5]. - The company has successfully reduced electricity costs for over 200 industrial users by more than 10 million RMB through these services [5]. Intelligent Applications - New intelligent power terminals provide three capabilities: precise energy insights, intelligent optimization and control, and deep value empowerment to guide energy-saving decisions [6]. Target Industries and Applications - The company customizes strategies for high-energy-consuming sectors like data centers, focusing on a combination of long-term, spot, and green electricity purchasing [7]. - In manufacturing, services include production scheduling optimization based on time-of-use electricity pricing signals to reduce energy costs [8]. Green Energy Services - The company has developed an integrated green electricity service system that combines various renewable energy sources and offers full-process green certificate trading services to manufacturers [8]. National Expansion Plans - The company is expanding its operations nationwide, with a strategy centered around Liaoning and plans to establish a service network across key regions such as Guangdong and Zhejiang [9][10].

Core Insights - The core viewpoint emphasizes the importance of an "application-oriented" approach to bridge the gap between technology and its practical applications, ensuring that AI solutions address real-world problems [1][5]. Group 1: Application-Oriented AI Business - The company integrates the "application-oriented" philosophy throughout its AI business, focusing on solving actual problems [2]. - It has developed a model matrix consisting of self-developed models, including Tianxing and Zhizhe Qianwen, to support three core business platforms: AI Marketing SaaS, Spatial Intelligence MaaS, and Mobile Application Distribution PaaS [2]. - The AI Marketing SaaS platform has achieved a 150% increase in operational efficiency for tourism clients, with AI customer service response and accuracy rates reaching 99% [2]. Group 2: ABC Framework for Embodied Intelligence - The BehavisionPro Spatial Intelligence MaaS platform utilizes the ABC (Assets-Behavior-Client) framework to address challenges in embodied intelligence, such as perception, decision-making, and execution [3][4]. - The platform has built a comprehensive multimodal data system, accumulating over 150,000 3D data entries and 650,000 multimodal data entries, with its 3D articulated dataset ranking high on global download charts [3][4]. - The platform enhances robots' logical reasoning and dynamic response capabilities through the Zhizhe Qianwen model, facilitating efficient task planning and execution [4]. Group 3: Long-Term Viability of AI Solutions - The dialogue highlights that AI solutions must effectively solve real-world problems to ensure long-term viability, with the company adopting a solid path that focuses on real scene demands and high-quality data [5][6]. - The company believes that technological innovation must ultimately return to the ability to address industry-specific challenges, reinforcing the value of technology in practical applications [6].

Core Insights - The advertising and marketing sector experienced a 2.04% increase on November 3, with Fushi Holdings leading the gains [1] - The Shanghai Composite Index closed at 3976.52, up 0.55%, while the Shenzhen Component Index closed at 13404.06, up 0.19% [1] Stock Performance - Fushi Holdings (300071) closed at 5.76, with a significant increase of 13.39%, trading volume of 2.9476 million shares, and a transaction value of 1.691 billion [1] - Tianxiao (600556) saw a closing price of 6.83, up 9.98%, with a trading volume of 1.6493 million shares and a transaction value of 1.098 billion [1] - Other notable performers include Yaowang Technology (002291) with a 5.30% increase, Longyun Co. (603729) up 3.65%, and BlueFocus Communication Group (300058) up 3.13% [1] Capital Flow - The advertising and marketing sector experienced a net outflow of 128 million from institutional investors, while retail investors saw a net inflow of 155 million [1] - Specific stock capital flows indicate that Tianxiao had a net outflow of 114 million from retail investors, while Fushi Holdings had a net outflow of 87.774 million from institutional investors [2] - The overall trend shows that while institutional and speculative funds are withdrawing, retail investors are actively buying into the sector [1][2]

Core Insights - The company reported a significant increase in revenue and net profit for Q3 2025, driven by advancements in AI technology and diversified business operations [1] Financial Performance - In Q3 2025, the company achieved a revenue of 521 million yuan, representing a year-on-year growth of 18.78% [1] - The net profit attributable to shareholders reached 19.08 million yuan, marking a staggering increase of 1102.73% year-on-year [1] - For the first three quarters of 2025, total revenue amounted to 1.508 billion yuan, reflecting a year-on-year increase of 25.67% [1] - Cumulative net profit for the same period was 42.703 million yuan, showing a substantial growth of 597.6% year-on-year [1] Profitability and Margins - The gross profit margin in Q3 2025 rose to 27.43%, an increase of 9.01 percentage points year-on-year and 0.34 percentage points quarter-on-quarter, achieving a new high for the year [1] - The overall profitability of the company has steadily improved, with enhanced profit quality attributed to the sustained release of AI marketing momentum [1] Cash Flow and Financial Health - The net cash flow from operating activities for the first three quarters reached 78.4976 million yuan, indicating a positive turnaround from a negative position in the previous year [1] - The company's financial condition remains healthy and stable, reflecting strong operational performance [1]

Core Insights - The report highlights significant growth in revenue and net profit for Tianyu Shuke in Q3 2025, alongside improvements in asset structure and financial health, indicating a transformation in the company's fundamentals driven by AI technology implementation [1] Asset Side - Total assets reached 1.976 billion, an increase of 11.88% compared to the end of the previous year, with a notable growth in non-current assets related to business expansion and technology implementation [2] - Right-of-use assets doubled to 31.76 million, up 110.77% year-on-year, reflecting substantial business scale expansion and a shift from technology R&D to large-scale implementation [2] - Prepayments surged by 184% to 135 million, indicating strong demand in data traffic business, with a corresponding 99.63% increase in contract liabilities, suggesting a robust order backlog for future revenue recognition [2] Profitability - Non-recurring gains are manageable, showcasing the genuine profitability of core business operations, with a 592.87% year-on-year increase in net profit excluding non-recurring items, reaching 13.91 million [3] - The core business remains the primary growth driver, with a 149.41% increase in cumulative net profit excluding non-recurring items, while non-recurring gains accounted for only 27.12% of quarterly net profit [3] Expense Side - R&D expenses were strategically optimized, focusing on core AI technologies, with a total of 31.21 million spent in the first three quarters, down from 38.83 million the previous year, indicating a shift towards more targeted investments [4] - Sales expenses increased by 37.27% to 117 million, driven by heightened investments in data traffic business and AI marketing, facilitating the transition from technology validation to market expansion [5] - Financial expenses turned positive at 4.24 million, primarily due to increased short-term borrowing, which rose by 708% to 74.51 million, reflecting the funding needs for business expansion in the data traffic sector [5][6] Conclusion - The highlights of Tianyu Shuke's Q3 2025 report include not only significant revenue and profit growth but also improvements in asset structure, profitability quality, and expense alignment, collectively supporting the effective implementation of the "AI + application" strategy and indicating a promising long-term growth trajectory [6]

Core Insights - The advertising and marketing sector saw a rise of 2.39% on October 31, with Fushi Holdings leading the gains [1] - The Shanghai Composite Index closed at 3954.79, down 0.81%, while the Shenzhen Component Index closed at 13378.21, down 1.14% [1] Stock Performance - Fushi Holdings (300071) closed at 5.08, up 20.09% with a trading volume of 1.3387 million shares and a transaction value of 639 million [1] - BlueFocus Communication Group (300058) closed at 7.35, up 8.73% with a trading volume of 7.4609 million shares and a transaction value of 5.383 billion [1] - Other notable performers include: - Easy Point World (301171) at 30.84, up 6.09% [1] - Jiayun Technology (300242) at 4.75, up 5.32% [1] - Yinxu Group (300781) at 37.07, up 5.22% [1] Capital Flow - The advertising and marketing sector experienced a net inflow of 1.218 billion in main funds, while retail investors saw a net outflow of 717 million [2][3] - Main fund inflows for key stocks include: - BlueFocus Communication Group with 67.5 million [3] - Fushi Holdings with 237 million [3] - Tianyu Digital Science (002354) with 95.831 million [3] Summary of Individual Stocks - Fushi Holdings had a significant main fund inflow of 237 million, but retail investors withdrew 119 million [3] - BlueFocus Communication Group had a main fund inflow of 67.5 million, with retail investors withdrawing 46.2 million [3] - Tianyu Digital Science saw a main fund inflow of 95.831 million, while retail investors withdrew 80.017 million [3]

天娱数字科技（大连）集团股份有限公司（以下简称"公司"）分别于 2025 年 9 月 22 日、2025 年 10 月 14 日召开了第六届董事会第二十四次会议、2025 年第二次临时股东大会，审议通过了《关于修订<公司章程>的议案》《关于董 事会换届暨选举第七届董事会非独立董事的议案》《关于董事会换届暨选举第七 届董事会独立董事的议案》；公司于 2025 年 10 月 14 日召开了第七届董事会第 一次会议，审议通过了《关于选举公司第七届董事会董事长的议案》。具体内容 详见公司在巨潮资讯网（www.cninfo.com.cn）披露的相关公告。 近日，公司已办理完成了上述事项相关的工商变更登记备案手续，并取得了 辽宁省大连市市场监督管理局换发的《营业执照》。变更后的《营业执照》具体 内容如下： 1、名称：天娱数字科技（大连）集团股份有限公司 2、统一社会信用代码：91210200751573467T 天娱数字科技（大连）集团股份有限公司 关于完成工商变更登记的公告 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。 股票代码：002354 股票简称：天娱数科 编号 ...

Core Insights - High-quality 3D data is essential for advancing robotics from "perception intelligence" to "action intelligence" in the context of embodied intelligence [1] - The Behavision Pro platform, under Tianyu Shuke, has developed a comprehensive 3D articulated dataset that has gained global recognition for its consistency, physical accuracy, and interpretability [2][3] - The transition from static to dynamic 3D data represents a significant leap in data capabilities, positioning 3D data as a core competitive advantage in the industry [3] Group 1: Industry Context - The 3D data field has been historically dominated by static datasets like ModelNet and ShapeNet, but the need for dynamic, articulated object data has emerged as a critical breakthrough for research institutions [1] - Existing datasets like PartNet-Mobility and SAPIEN have attempted to introduce mobility concepts but still face limitations in scale, action consistency, and physical accuracy [1] Group 2: Behavision Pro Platform - Behavision Pro has accumulated over 1.5 million 3D data entries and 650,000 multimodal data entries, creating a rich dataset that supports various core tasks in robotics [2] - The dataset systematically defines the behavior logic of how to manipulate objects, moving beyond traditional 3D data that only describes what objects are [2] Group 3: Technological Advancements - The Behavision 3D articulated dataset bridges the gap between visual recognition and behavior generation, facilitating Real2Sim2Real closed-loop learning [3] - The platform's structured design and physical realism address the industry's bottleneck of scarce articulated data, providing a viable solution for current challenges [3] Group 4: Future Directions - Tianyu Shuke plans to increase investment in behavior-oriented 3D data assets, continuously optimizing and expanding the dataset to support the development of general embodied intelligence [3] - The company aims to collaborate with global research institutions and developers to enhance the industry's data infrastructure and accelerate the arrival of the embodied intelligence era [3]

Core Points - The case involves a loan contract dispute between Galaxy Jinhui Securities Asset Management Co., Ltd. and Shi Botao, with the Shenzhen Qianhai Cooperation Zone People's Court set to auction shares of Tianyu Shuke (stock code: 002354) held by Shi Botao [2] Group 1 - The auction will take place on the Taobao judicial auction platform, with the auctioned asset being 6,197,533 shares of Tianyu Shuke [2] - The displayed auction price is set at 33,020,455.82 yuan, which is based on the stock's closing price of 6.66 yuan per share on October 28, 2025 [2] - The actual starting price for the auction will be calculated as 80% of the average closing price over the 20 trading days prior to the auction date, multiplied by the total number of shares [2]