证券代码：002368 证券简称：太极股份 公告编号：2025-041 太极计算机股份有限公司 第六届监事会第十九次会议决议公告 本公司及监事会全体成员保证信息披露内容真实、准确和完整，没有虚假记载、误导 性陈述或重大遗漏。 （二）审议通过了《关于拟聘任会计师事务所的议案》 监事会认为：公司拟聘任的天健会计师事务所（特殊普通合伙）具备会计师 事务所执业资格和为上市公司提供审计服务的经验和能力，能够为公司提供客观、 公允的审计服务，监事会同意聘任天健会计师事务所（特殊普通合伙）为公司2025 年度财务报告及内部控制审计机构。 本议案已经公司董事会审计委员会审议通过。 本议案尚需提交公司股东大会审议。 一、监事会会议召开情况 太极计算机股份有限公司（以下简称"公司"）第六届监事会第十九次会议通 知于 2025 年 10 月 21 日以直接送达、电话或电子邮件形式发出，会议于 2025 年 10 月 29 日在北京市朝阳区容达路 7 号院中国电科太极信息产业园 C 座会议 中心以现场结合通讯方式召开。 本次会议应到监事 5 位，实到监事 5 位，会议由监事会召集人胡雷先生主持。 本次会议的召开符合《公司法》和《公司 ...

Investment Rating - The report maintains an "Accumulate" rating for the industry [5] Core Insights - The domestic computer industry is experiencing accelerated localization, driven by national strategies aimed at establishing a technology powerhouse by 2035, with R&D investment expected to exceed 3.6 trillion yuan in 2024, a 48% increase from 2020 [1][10][13] - The domestic computing power sector is entering a performance explosion phase, with significant year-on-year growth in inventory and revenue for key companies like Cambrian and Haiguang Information [3][24] - The market for domestic information technology (IT) is projected to reach 2.66 trillion yuan by 2026, with a steady push for localization across various sectors, including finance and telecommunications [2][19] Summary by Sections Section 1: National Strategy and R&D Investment - The "14th Five-Year Plan" emphasizes high-quality development and technological self-reliance, with a focus on enhancing the national innovation system and increasing R&D investment [1][10][14] - China ranks first globally in high-level international journal publications and patent applications for five consecutive years [1][13] Section 2: Market Demand and Localization - The domestic IT market is witnessing a shift towards localization, with significant demand from both government and commercial sectors [2][18] - The "2+8+N" strategy is being implemented for the replacement of IT systems, with rapid progress in the financial sector [2][20] Section 3: Performance of Domestic Computing Power Companies - Cambrian reported a revenue of 1.727 billion yuan in Q3 2025, a 1333% increase year-on-year, with a net profit of 567 million yuan [3][24] - Haiguang Information achieved a revenue of 9.490 billion yuan in the first three quarters of 2025, reflecting a 54.65% year-on-year growth [3][24] Section 4: Key Software Companies - Key software companies such as China Software and Kingsoft have shown recovery in their performance, with significant increases in revenue and net profit in Q2 2025 [3][26] - The report highlights the importance of software in supporting the growth of the domestic computing power sector [4][30]

Market Overview - The IT services sector increased by 1.22% on the previous trading day, with Zhengyuan Dixin leading the gains [1] - The Shanghai Composite Index closed at 3916.33, up 1.36%, while the Shenzhen Component Index closed at 13077.32, up 2.06% [1] Top Performers in IT Services - Zhengyuan Dixin (688509) closed at 5.08, with a rise of 20.09% and a trading volume of 756,500 shares, amounting to a transaction value of 368 million [1] - Luqiao Information (920748) closed at 39.68, up 19.63%, with a trading volume of 42,000 shares and a transaction value of 159 million [1] - Keyuan Wisdom (002380) closed at 30.24, increasing by 10.00%, with a trading volume of 227,900 shares and a transaction value of 678 million [1] Decliners in IT Services - Changshan Beiming (000158) closed at 24.63, down 1.99%, with a trading volume of 1,458,900 shares and a transaction value of 3.562 billion [2] - Chuling Information (300250) closed at 25.52, down 1.77%, with a trading volume of 390,200 shares and a transaction value of 988.6 million [2] - ST Yilianzhong (300096) closed at 7.73, down 1.65%, with a trading volume of 198,800 shares and a transaction value of 152 million [2] Capital Flow Analysis - The IT services sector experienced a net outflow of 147 million from institutional investors and 560 million from speculative funds, while retail investors saw a net inflow of 707 million [2][3] - Notable net inflows from institutional investors included Keyuan Wisdom (6785.92 million) and Zhongke Jincai (4826.90 million) [3] - Significant net outflows from retail investors were observed in companies like Zimi Co. (6000.27 million) and Kaipu Cloud (3170.86 million) [3]

Core Insights - Tai Chi Co., Ltd. experienced a stock price increase of 5.24%, reaching 27.11 CNY per share, with a trading volume of 309 million CNY and a turnover rate of 1.89%, resulting in a total market capitalization of 16.896 billion CNY [1] Group 1: Company Overview - Tai Chi Co., Ltd. is located in Beijing and was established on October 10, 1987, with its listing date on March 12, 2010 [1] - The company's main business includes providing industry solutions and services, IT consulting services, and IT product value-added services [1] - The revenue composition of the company is as follows: industry solutions 56.99%, digital infrastructure 14.66%, proprietary software products 14.14%, cloud and data services 13.01%, and others 1.20% [1] Group 2: Shareholder Information - Southern Fund's Southern CSI 1000 ETF (512100) entered the top ten circulating shareholders of Tai Chi Co., Ltd. in the second quarter, holding 4.0254 million shares, which is 0.65% of the circulating shares [2] - The estimated floating profit from this investment is approximately 5.4343 million CNY [2] - The Southern CSI 1000 ETF was established on September 29, 2016, with a latest scale of 64.953 billion CNY and a year-to-date return of 22.89% [2]

Core Viewpoint - Taiji Co., Ltd. has shown a mixed performance in stock price and financial results, with a notable increase in revenue and profit year-on-year, while experiencing fluctuations in stock price over recent trading periods [1][2]. Financial Performance - As of June 30, 2025, Taiji Co., Ltd. achieved a revenue of 3.782 billion yuan, representing a year-on-year growth of 44.69% [2]. - The net profit attributable to shareholders reached 9.6467 million yuan, marking a significant increase of 106.07% compared to the previous year [2]. Stock Market Activity - On October 21, 2023, Taiji's stock price rose by 2.02% to 26.28 yuan per share, with a trading volume of 139 million yuan and a turnover rate of 0.86%, resulting in a total market capitalization of 16.379 billion yuan [1]. - Year-to-date, the stock price has increased by 11.41%, but it has decreased by 4.71% over the last five trading days and by 2.99% over the last twenty days [1]. Shareholder Information - As of September 30, 2023, the number of shareholders stood at 54,800, a slight decrease of 0.21% from the previous period, while the average circulating shares per person increased by 0.21% to 11,312 shares [2]. - The company has distributed a total of 1.191 billion yuan in dividends since its A-share listing, with 284 million yuan distributed over the last three years [3]. Major Shareholders - As of June 30, 2025, the top ten circulating shareholders include Hong Kong Central Clearing Limited as the third-largest shareholder, holding 10.2397 million shares, an increase of 2.3256 million shares from the previous period [3]. - The Southern CSI 1000 ETF is a new entrant among the top ten shareholders, holding 4.0254 million shares [3].

Investment Rating - The industry investment rating is "Positive" (maintained) [1] Core Viewpoints - The report emphasizes the continuous recommendation of domestic investment opportunities due to increasing external technology controls and the ongoing promotion of domestic innovation policies, indicating a clear trend towards self-sufficiency in key technologies [6][13] - The performance of leading domestic computing companies is showing significant revenue growth, validating the trend of domestic industrial development [7][14] Summary by Sections Weekly Perspective - The report highlights the sustained recommendation of domestic investment opportunities, noting a decline in the CSI 300 index by 2.22% and a 5.61% drop in the computer index during the week of October 13-17, 2025 [5][12] Company Dynamics - Haiguang Information reported a revenue of 40.26 billion yuan for Q3 2025, marking a year-on-year growth of 69.60% and a net profit of 759.99 million yuan, up 13.04% [16] - Cambricon Technologies achieved a revenue of 1.727 billion yuan in Q3 2025, with a staggering year-on-year increase of 1332.52%, and a net profit of 567 million yuan, indicating a strong turnaround [14] Investment Recommendations - Key domestic software companies recommended include Kingsoft Office, Dameng Data, and others, while leading domestic computing companies such as Haiguang Information and Sugon are also highlighted for their growth potential [8][15]

Group 1 - The report highlights that national top-level policies are guiding the rapid development of six key areas in "AI+ applications" as outlined in the State Council's opinion released on August 26, 2025 [2][8] - The six key areas include "AI+" in scientific technology, industrial development, consumer quality enhancement, public welfare, governance capabilities, and global cooperation [2][8] - By 2027, it is expected that AI will be widely integrated into these six areas, with the application penetration rate of new intelligent terminals exceeding 70% [9] Group 2 - The report identifies 50 representative stocks across A-shares, Hong Kong stocks, and US-listed Chinese companies that are actively engaged in "AI+ applications" within the six key areas [3] - Key recommended stocks include: - Shuanghuan Transmission (002472.SZ) for AI+ industrialization and intelligent robotics - Orbbec (688322.SH) for AI+ hardware - Shengye (6069.HK) for AI+ supply chain finance [3] - Stocks to watch include: - Xindong Company (2400.HK) for AI+ gaming - Huazhu Gaoke (688433.SH) for AI+ intelligent manufacturing - Guodun Quantum (688027.SH) for AI+ quantum technology [3] Group 3 - The report elaborates on the "AI+" scientific technology direction, which includes accelerating scientific discovery processes, driving innovation in technology research and development models, and innovating social science research methods [12][17][24] - Specific companies mentioned in the "AI+" scientific technology sector include: - iFlytek (002230.SZ) focusing on AI core technology and applications in various fields [13] - Zhongke Shuguang (603019.SH) emphasizing AI-driven digital infrastructure [13] - BGI Genomics (688114.SH) integrating AI into life sciences [13] Group 4 - The "AI+" industrial development direction aims to cultivate new intelligent native models and promote the intelligent transformation of traditional industries [28] - Companies highlighted in this sector include: - Daotong Technology (688208.SH) for AI+ automotive diagnostics [30] - Dingjie Smart (300378.SZ) for AI+ manufacturing digitalization [30] - Huichan Co., Ltd. (688500.SH) for AI+ data intelligence [30] Group 5 - The "AI+" consumer quality enhancement direction focuses on expanding service consumption scenarios and improving the quality of life services [49] - Companies in this area include: - Xindong Company (2400.HK) for AI+ gaming [51] - Giant Network (002558.SZ) integrating AI into core gaming products [51] - Perfect World (002624.SZ) utilizing AI tools in game development [51]

Core Viewpoint - Tai Chi Co., Ltd. experienced a 5% decline in stock price, trading at 25.82 CNY per share, with a total market capitalization of 16.092 billion CNY as of October 17 [1] Group 1: Company Overview - Tai Chi Co., Ltd. was established on October 10, 1987, and went public on March 12, 2010 [1] - The company is located in Beijing and specializes in industry solutions, IT consulting services, and value-added IT product services [1] - The revenue composition of the company includes: industry solutions (56.99%), digital infrastructure (14.66%), proprietary software products (14.14%), cloud and data services (13.01%), and others (1.20%) [1] Group 2: Shareholder Information - Southern Fund's Southern CSI 1000 ETF (512100) entered the top ten circulating shareholders of Tai Chi Co., Ltd. in the second quarter, holding 4.0254 million shares, which is 0.65% of the circulating shares [2] - The estimated floating loss for the ETF today is approximately 5.4745 million CNY [2] - The Southern CSI 1000 ETF was established on September 29, 2016, with a latest scale of 64.953 billion CNY and a year-to-date return of 25.63% [2] Group 3: Fund Manager Information - The fund manager of Southern CSI 1000 ETF is Cui Lei, who has been in the position for 6 years and 346 days [3] - The total asset size of the fund is 94.976 billion CNY, with the best fund return during the tenure being 179.4% and the worst being -15.93% [3]

Core Insights - On October 16, Taiji Co., Ltd. experienced a 2.72% decline in stock price, with a trading volume of 395 million yuan [1] - The company reported a financing buy-in of 52.13 million yuan and a net financing buy of 16.97 million yuan on the same day [1][2] - As of October 16, the total financing and securities lending balance for Taiji Co., Ltd. was 863 million yuan, indicating a high level of financing activity [1] Financing and Securities Lending - On October 16, the financing buy-in was 52.13 million yuan, with a financing balance of 861 million yuan, representing 5.08% of the circulating market value [1] - The securities lending activity showed a repayment of 11,900 shares and a sell-out of 5,800 shares, with a total sell-out value of 157,600 yuan [1] - The securities lending balance was 1.34 million yuan, which is below the 20th percentile level over the past year, indicating low activity [1] Business Performance - As of September 30, the number of shareholders for Taiji Co., Ltd. was 54,800, a decrease of 0.21% from the previous period [2] - For the first half of 2025, the company achieved a revenue of 3.782 billion yuan, a year-on-year increase of 44.69%, and a net profit of 9.6467 million yuan, up 106.07% year-on-year [2] Shareholder and Dividend Information - Since its A-share listing, Taiji Co., Ltd. has distributed a total of 1.191 billion yuan in dividends, with 284 million yuan distributed in the last three years [3] - As of June 30, 2025, the third-largest circulating shareholder was Hong Kong Central Clearing Limited, holding 10.2397 million shares, an increase of 2.3256 million shares from the previous period [3] - New entrants among the top ten circulating shareholders include Southern CSI 1000 ETF, holding 4.0254 million shares [3]

Core Viewpoint - The U.S. government, led by President Trump, announced a 100% tariff on all Chinese goods starting November 1, along with export controls on key software, which will accelerate the domestic software replacement process in China [2][3]. Group 1: U.S. Trade Measures - The U.S. will impose a 100% additional tariff on all Chinese imports and export controls on key software starting November 1 [2]. - The U.S. measures are seen as a strategic move to pressure China ahead of the APEC summit, with potential implications for negotiations [2][3]. Group 2: China's Response and Industry Impact - China's Ministry of Commerce has implemented export controls on various technologies, including chip production equipment and lithium batteries, which are crucial for modern industries [2][3]. - China is expected to dominate the rare earth industry by 2025, holding 49% of global reserves and 69% of production, making it a critical resource for the U.S. [2][3]. Group 3: Domestic Software Development - The export controls on key software will accelerate the domestic replacement process in China, particularly in the fields of EDA, CAD, CAE, MES, and PLM [3][4]. - The shift towards domestic software is seen as essential due to China's heavy reliance on imported industrial software [3][4]. Group 4: Industrial Digital Transformation - The announcement of using WPS format in government documents marks a significant milestone for domestic software, indicating a breakthrough in the software replacement strategy [4]. - "Lighthouse factories," which utilize advanced technologies for efficiency, are expected to be prioritized in national strategic development plans, driving demand for industrial software [4]. Group 5: Investment Opportunities - Companies in the EDA, industrial software, operating systems, databases, network security, and industry IT sectors are highlighted as potential investment opportunities due to the ongoing shift towards domestic solutions [4]. - Specific companies to watch include: - EDA: Huada Jiutian, Guangliwei, Gai Lun Electronics [4] - Industrial Software: Dingjie Zhizhi, Nengke Technology, Suochen Technology, Zhongwang Software, Zhongkong Technology [4] - Operating Systems: China Software, Ruantong Power, Runhe Software, Chengmai Technology [4] - Databases: Dameng Data, Taiji Co. [4] - Network Security: Deepin Technology, Qilin Security, Sanwei Security, Guotou Intelligent, Qimingxing Chen [4] - Industry IT: Keda Xunfei, Hehe Information, Hengsheng Electronics, Kingsoft Office, Foxit Software, Tuolisi, Tax Friend Shares, Caixun Shares, Dingdian Software, Jiuyuan Yinhai, Jiahe Meikang, Guanglian Da, Kingdee International, Yonyou Network, Fanwei Network, Yuxin Technology, Newland [4].