Core Viewpoint - The Ministry of Industry and Information Technology announced the acceleration of the construction of 20 "vehicle-road-cloud integration" pilot cities, with 17 national-level testing demonstration zones already established, which presents positive implications for companies involved in this sector [1] Company Summary - Four-dimensional Tushin (002405.SZ) is one of the earliest companies to enter the vehicle-road-cloud industry in China, possessing rich technical reserves and relevant experience [1] - The company has won bids for vehicle-road-cloud projects in multiple cities, including Beijing, Shenzhen, and Wuxi [1] - In addition to the 20 pilot cities, several other cities are in the preliminary planning stages for vehicle-road-cloud projects, indicating ongoing opportunities for the company [1] - The company plans to further strengthen its efforts in the construction of vehicle-road-cloud systems in Beijing, capitalizing on the increased project investments in the city this year [1]

Group 1 - The core viewpoint of the article highlights the significant opportunities for the domestic computing power industry chain due to favorable policies and technological advancements, particularly with the successful listing of Moore Threads, marking a milestone for domestic GPU development [1][2] - The Chinese government has released multiple policies to accelerate the construction of computing power infrastructure, emphasizing the urgency and commitment to developing domestic computing capabilities [2][3] - The "East Data West Computing" initiative aims to strengthen the supply of computing resources and build a national integrated computing network, which will drive demand for hardware across the entire computing infrastructure industry chain [3][4] Group 2 - The investment logic in the domestic computing power industry chain is evolving, with a shift from single-function chips to full-function GPUs, expanding application scenarios and market space [3][4] - The integration of AI with various industries, such as transportation, is expected to create diverse and customized demands for computing resources, providing opportunities for companies with industry-specific solutions [4][5] - Key companies benefiting from the recent developments include Cambrian (寒武纪), Haiguang Information (海光信息), and Zhongke Shuguang (中科曙光), which are positioned to capitalize on the growing demand for AI chips and computing infrastructure [7][8][9]

Core Insights - On September 24, 2023, Siwei Tuxin's stock rose by 3.08%, with a trading volume of 605 million yuan [1] - The company reported a net financing outflow of 944.65 million yuan on the same day, with a total financing and securities balance of 1.229 billion yuan [1] - As of June 30, 2025, Siwei Tuxin's revenue was 1.761 billion yuan, a year-on-year increase of 5.62%, while the net profit attributable to shareholders was -311 million yuan, reflecting a 12.68% year-on-year growth [2] Financing and Securities - On September 24, Siwei Tuxin had a financing buy-in of 57.8858 million yuan, with a financing balance of 1.228 billion yuan, accounting for 5.54% of the circulating market value [1] - The financing balance is below the 40th percentile level over the past year, indicating a relatively low position [1] - The company had a securities lending balance of 99.96 million yuan, which is also below the 10th percentile level over the past year [1] Shareholder Information - As of June 30, 2025, Siwei Tuxin had 206,800 shareholders, a decrease of 5.25% from the previous period [2] - The average number of circulating shares per shareholder increased by 5.56% to 11,391 shares [2] - Major shareholders include Hong Kong Central Clearing Limited, which increased its holdings by 14.9894 million shares, and several ETFs that also increased their positions [2] Business Overview - Siwei Tuxin, established on December 3, 2002, and listed on May 18, 2010, operates in various sectors including intelligent cloud services, intelligent driving, intelligent cockpit, and intelligent chip businesses [1] - The revenue composition is as follows: Intelligent Cloud 71.84%, Intelligent Chip 14.73%, Intelligent Cockpit 6.70%, Intelligent Driving 4.38%, and Others 2.34% [1]

Core Viewpoint - As of now, the company Siwei Tuxin (002405.SZ) does not hold any shares in Moer Thread [1] Group 1 - The company has confirmed its current lack of investment in Moer Thread [1]

四维图新9月24日在互动平台表示，截至目前，公司未持有摩尔线程的股份。 ...

Core Insights - The company, Siwei Tuxin (002405.SZ), has stated that it currently does not hold any shares in Moer Thread [1] Group 1 - The company has clarified its investment position regarding Moer Thread, indicating no current ownership [1]

证券日报网讯 四维图新（002405）9月23日在互动平台回答投资者提问时表示，公司正处于L2+智能驾 驶解决方案规模化量产，与中高阶方案的研发与定点同步进行的阶段，这也符合行业和C端用户当前的 需求。 ...

证券日报网讯四维图新9月23日在互动平台回答投资者提问时表示，投资鉴智机器人的事项请以后续公 告为准。 （文章来源：证券日报） ...

证券日报网讯 四维图新（002405）9月23日在互动平台回答投资者提问时表示，公司将密切关注机器人 相关领域的市场机会。 ...

Group 1 - The company, Siwei Tuxin (002405), responded to investor inquiries on September 23 regarding the anti-dumping investigation, indicating that information should be based on announcements from relevant government departments [1]