今日具体限售解禁股情况如下： | 股票简称 | 股票代码 | 限售股类型 | 解禁股数 | | --- | --- | --- | --- | | 福田汽车 | 600166 | 增发A股原股东配售上市 | 14.29亿 | | 厦门国贸 | 600755 | 股权激励限售流通 | 39.61万 | | 格林美 | 002340 | 股权激励限售流通 | 875.45万 | | 启明星辰 | 002439 | 股权激励限售流通 | 98.87万 | | 新巨丰 | 301296 | 发行前股份限售流通 | 1713.6万 | | 奥浦迈 | 688293 | | 3613.94万 | 智通财经APP获悉，9月2日共有6家上市公司的限售股解禁，解禁总市值约55.25亿元。 ...

Core Viewpoint - The data security management platform is gaining significant attention in China due to increasing data security risks and the rising costs associated with data breaches, leading to a growing market for these platforms [2][4]. Group 1: Overview of Data Security Management Platforms - The data security management platform is defined by its capabilities in data classification, sensitive data discovery, data asset security management, risk assessment, and situational awareness, excluding tools for data protection [4]. - The platform aims to provide centralized management of data assets and security capabilities, enabling comprehensive identification, presentation, and monitoring of data assets [2][4]. Group 2: Market Size and Growth - The market size for data security management platforms in China is projected to reach 825 million yuan in 2024, reflecting a year-on-year growth of 14.8% [2]. - The increasing popularity of these platforms is attracting more enterprises, with the top five companies holding a combined market share of 52.2% during 2024 [2]. Group 3: Competitive Landscape - Major players in the data security management platform market include Anheng Information, Qi Anxin, and Qiming Star, with Anheng Information leading the market with a 13.7% share, followed closely by Qi Anxin at 13.1% [2][3]. - The competitive environment is characterized by strong capabilities among these firms, contributing to their dominant positions in the market [2]. Group 4: Development Background - The Chinese government is increasingly prioritizing data security, recognizing data as a critical production factor and implementing various laws and standards to enhance data security management [8][9]. - The rapid growth of data production, projected to exceed 41.06 zettabytes in 2024, underscores the importance of robust data security measures [10].

证 券 研 究 报 告 启明星辰（002439）2025 年中报点评 强推（维持） 营收短期承压，推进"AI+" 事项： 公司发布 2025 年半年度报告：2025 年上半年，实现营业收入 11.33 亿元， 同比下滑 28.03%；归母净利润亏损 0.93 亿元，去年同期亏损 1.82 亿元；归 母扣非净利润亏损 1.64 亿元，去年同期亏损 1.00 亿元。 评论： 风险提示：行业竞争加剧；政策推动不及预期；产品应用不及预期。 | 目标价：21.38 | 元 | | --- | --- | | 当前价：17.48 | 元 | 华创证券研究所 证券分析师：吴鸣远 邮箱：wumingyuan@hcyjs.com 执业编号：S0360523040001 证券分析师：胡昕安 邮箱：huxinan@hcyjs.com 执业编号：S0360525080009 [ReportFinancialIndex] 主要财务指标 | | 2024A | 2025E | 2026E | 2027E | | --- | --- | --- | --- | --- | | 营业总收入(百万) | 3,315 | 3,237 | 3,6 ...

Group 1 - The new chairman of the company, Yuan Jie, highlighted the current trends and future opportunities in the cybersecurity industry, noting that while traditional cybersecurity business growth is limited, the demand for high-quality cybersecurity capabilities is increasing [2] - The company sees significant long-term growth potential in the cybersecurity industry, driven by technological advancements and a widening market landscape [2][3] - The recent government policy document, "Opinions on Deepening the Implementation of 'Artificial Intelligence+' Actions," emphasizes the need to enhance security capabilities, which is expected to create structural growth opportunities for the cybersecurity industry [4] Group 2 - The company’s strategic advantages are summarized as a "three-in-one" approach: deepening collaboration with China Mobile, enhancing high-quality security capabilities, and strengthening innovation and management efficiency [3] - The company anticipates that AI-related security investments will account for 5% to 15% of the overall incremental investments driven by the new policy, with growth stemming from AI empowerment in security, ensuring the safety of AI technologies, and protecting emerging AI applications [4] - The artificial intelligence security market is expected to develop rapidly with high collaboration, and the company has established a significant first-mover advantage in key areas such as model evaluation and access control since February 2024 [5]

机构投资者就《意见》与公司深入交流 8月28日晚，启明星辰（002439.SZ）发布了最新的投资者关系活动记录表，公司半年报刚刚披露，恰逢 国务院发布关于深入实施"人工智能+"行动的意见，吸引众多投资机构关注。值得注意的是，本次也是 启明星辰新任董事长袁捷首次亮相机构投资者交流活动。 在传统业务之外，公司看到了产业发展的新战略机遇，看到了创新驱动的增长新动能，看到了市场留给 供给侧技术变革的时间窗口，因此对网络产业长期发展充满希望和信心。 面对行业的变革与机遇，袁捷认为启明星辰的核心优势与战略措施可以概括为"三位一体"：一是深化启 明星辰和中国移动的战略协同，打开广阔发展空间。启明星辰完成了身份的蜕变、能力的升维，赛道的 拓宽。二是攻坚高质量安全能力，实现存量巩固与增量拓展。三是强化创新效能和精益管理，构建高质 量发展新格局。 袁捷强调，启明星辰作为央企控股的行业龙头企业，坚定发展信心，保持战略定力，立足科技创新，积 极抓住产业新旧动能转换的机遇，在新质生产力发展中主动布局，通过能力升级满足全行业高质量需 求，为全社会数智化转型做好安全支撑。 新任董事长阐述行业趋势及公司战略机遇 针对网络安全行业的现状以及未 ...

Core Viewpoint - The company is optimistic about the long-term growth potential of the cybersecurity industry, driven by increasing demand for high-quality security capabilities and the recent government initiatives to enhance security levels in the context of artificial intelligence [2][4]. Group 1: Industry Trends - The cybersecurity industry is experiencing a transformation, with traditional business growth being constrained while demand for high-quality security capabilities is increasing [2]. - The recent government policy on "Artificial Intelligence+" is expected to fundamentally boost the economy and create significant opportunities for the cybersecurity sector [4]. - The industry is at a pivotal point of technological transition, with expanding market opportunities and a rising ceiling for growth [2][4]. Group 2: Company Strategy - The company identifies its core advantages and strategic measures as a "three-in-one" approach: deepening collaboration with China Mobile, enhancing high-quality security capabilities, and strengthening innovation and management efficiency [3]. - The company is committed to leveraging technological innovation to meet the high-quality demands of the industry and support the digital transformation of society [3][5]. - The company has established a significant first-mover advantage in key areas such as model evaluation and access control due to strategic investments made since February 2024 [5]. Group 3: Market Opportunities - The government policy is expected to create structural growth opportunities in the cybersecurity industry, with AI-related security investments projected to account for 5% to 15% of the overall incremental investment driven by this policy [4]. - The growth drivers for AI security investments include AI empowering security, ensuring the safety of AI core technologies, and protecting emerging AI applications [4].

针对网络安全行业的现状以及未来发展趋势，袁捷董事长给出了自己的看法：一方面，传统网络安全业 务增速受限、相关产品和服务增长承压；另一方面，高质量网络安全能力的供给需求愈发旺盛。总体 看，网络安全产业的发展动能是充足的，其韧性强、潜力大、长期向好的基本面没有变，产业长期向好 的趋势不变。 (原标题：启明星辰（002439）披露半年报投资者交流袁捷董事长首次亮相) 8月28日晚，启明星辰(002439.SZ)发布了最新的投资者关系活动记录表，启明星辰新任董事长袁捷首次 参与此次机构投资者交流活动。恰逢国务院发布关于深入实施"人工智能+"行动的意见，本次交流活动 吸引众多投资机构关注。 新任董事长阐述行业趋势及公司战略机遇 多家机构就《意见》对网安行业的影响与启明星辰进行交流。启明星辰也做了相应的解读，该《意见》 对经济形势有根本性拉动，明确新生产力方向，提升经济量质构效，其提出的六个重点领域将延伸出网 络安全需求，对经济多个方向起到指引作用。《意见》可能使人工智能成为新的生产力要素，与数据要 素交互作用，拉动经济高质量发展。《意见》提出的智能终端和智能体覆盖度量化指标，对产业是极大 利好，启明星辰也将受益。 袁捷 ...

8月27日15：30—17：00，启明星辰信息技术集团股份有限公司举行了业绩说明会，通过在线会议的形 式，与来自中泰证券、华创证券、国泰海通证券等共计50家机构的投资者和分析师进行了深入交流。公 司接待人员包括袁捷、王佳、王志勇、张媛、潘柱廷等。 本次业绩说明会主要围绕公司2025年上半年经营情况、行业发展趋势以及公司战略规划等方面展开。 在经营情况方面，启明星辰2025年上半年实现营业收入11.33亿元；归母净利润为 -9335万元；扣非净利 润为 -1.64亿元 。面对网安市场压力，公司采取了一系列措施： -提升经营质量：严格把控项目订单质 量，强化回款管理。上半年综合毛利率较上年同期增长3.4个百分点，报告期末应收账款账面价值较期 初下降3.93%，经营性现金流净额同比增长68.8%，第二季度回款同比增长38.9%，单季经营性净现金流 回正，三费同比下降13.5%。 -深化中移协同：提升协同业务质量，减少低毛利集成类项目规模。公司 与中国移动关联交易中来自中移自采业务的收入和订单规模同比快速上升。下半年将着力在政企市场与 中移各省公司深化协作，提升云安全、DICT的协同收入质量与规模。 -坚持科技创新： ...

每经AI快讯，启明星辰（SZ 002439，收盘价：17.48元）发布公告称，2025年8月27日，启明星辰接受 中泰证券股份有限公司等投资者调研，公司袁捷、王佳、王志勇、张媛、潘柱廷回答了投资者提出的问 题。 截至发稿，启明星辰市值为212亿元。 每经头条（nbdtoutiao）——申请超2万份，已开出41家，加盟海底捞，你要准备多少钱？1000万元不算 多，真实"账单"公布 （记者 王晓波） 2025年1至6月份，启明星辰的营业收入构成为：信息网络安全占比99.05%，其他业务占比0.95%。 ...

Core Viewpoint - The recent financial report of Qiming Star (启明星辰) indicates a significant decline in revenue while showing improvements in profitability metrics such as gross margin and net margin [1]. Financial Performance - Total revenue for the first half of 2025 was 1.133 billion yuan, a decrease of 28.03% year-on-year [1]. - The net profit attributable to shareholders was -93.35 million yuan, an increase of 48.78% year-on-year [1]. - In Q2 2025, total revenue was 492 million yuan, down 24.47% year-on-year, with a net profit of -94.95 million yuan, a decline of 37.44% year-on-year [1]. - Gross margin improved to 59.91%, up 6.01% year-on-year, while net margin was -8.52%, an increase of 28.04% year-on-year [1]. - Total operating expenses (sales, management, and financial expenses) amounted to 512 million yuan, representing 45.17% of revenue, an increase of 19.05% year-on-year [1]. Key Financial Ratios - Earnings per share (EPS) was -0.08 yuan, an increase of 48.87% year-on-year [1]. - Operating cash flow per share was -0.13 yuan, an increase of 68.59% year-on-year [1]. - The company's net asset per share was 9.35 yuan, a decrease of 0.94% year-on-year [1]. Business Evaluation - The company's net margin last year was -6.86%, indicating low added value in products or services [3]. - The median Return on Invested Capital (ROIC) over the past decade was 13.84%, with the worst year being 2024 at -2.44% [3]. - The company has had a generally good financial history, with only one loss year since its IPO [3]. Strategic Insights - The new chairman, Yuan Jie, is focusing on establishing the company as a world-class cybersecurity firm and enhancing its collaboration with China Mobile [4]. - The company aims to strengthen its research and development capabilities and improve service quality to support China Mobile's digital initiatives [4]. - The emphasis is on making cybersecurity a core competency to drive the overall upgrade of the domestic cybersecurity industry [4].