Core Viewpoint - The company is focusing on the strategic layout of "AI + Security" in its core business of cybersecurity, leveraging AI to enhance security capabilities and optimize security models [1] Group 1: AI Empowerment in Security - The company is training and optimizing security large models and building intelligent security agents using AI [1] - The foundation of the security large model is based on China Mobile's Jiutian large model, supported by its powerful computing resources [1] - The company is continuously upgrading the Taihe security large model with high-quality security datasets, significantly improving product capabilities and service efficiency [1] Group 2: AI Application Security - The company is rapidly launching a matrix of large model security products to address security risks associated with large model applications [1] - A systematic solution has been formed to tackle the security risks of AI applications [1] - The company has not participated in the "Liuyun" large model [1]

Group 1 - The core viewpoint of the article highlights the advancements in AI agents, with companies like DeepSeek and China Telecom developing new models to enhance AI capabilities [2] - The company Yingxingshen (启明星辰) has reported progress on its Anxing AI agent, which is already applied in security operations, threat detection, and data security, significantly improving product capabilities and service efficiency [2] - In the "AI agent + security operations" area, the Anxing AI operational system has established a "security intelligent agent collaborative architecture," providing custom agents, knowledge base management, and visual workflow capabilities, enhancing the intelligence level of security operations [2] - The Anxing AI agent is deeply integrated with the XDR system in the "AI agent + threat detection" area, greatly improving the effectiveness of threat hunting, analysis, and defense [2] - The company aims to continuously evolve and innovate the capabilities of the Anxing AI agent to empower more security scenarios [2]

Core Viewpoint - The company has not participated in China Mobile's "Liu Yun" AI logistics model but is focusing on enhancing its own AI capabilities in the cybersecurity domain through collaboration with China Mobile's resources [1] Group 1: Company Strategy - The company is strategically positioning itself in the "AI + Security" direction, leveraging AI to enhance its cybersecurity capabilities [1] - It is training and optimizing a large security model based on China Mobile's Jiutian model, utilizing high-quality security datasets to improve its Taihe security model [1] Group 2: Product Development - The company has developed the Anxing intelligent agent, which is applied in security operations, threat detection, and data security products, significantly improving product capabilities and service efficiency [1] - A matrix of large model security products has been quickly launched to address safety risks associated with AI applications, providing a systematic solution [1]

Core Insights - Quantum computing is expected to be a disruptive force in solving AI computing power bottlenecks, offering superior parallel computing capabilities and lower energy consumption compared to traditional computing [2][5] - Post-quantum cryptography aims to create new cryptographic systems that can withstand attacks from quantum computers, becoming a crucial technology for future information security [1][2][5] - The standardization process for post-quantum cryptography is accelerating, with increasing exploration of applications and intensified competition among leading domestic and international companies [1][5] Industry Overview - The global market for quantum computing reached $4.7 billion in 2023 and is projected to exceed $800 billion by 2035, indicating significant growth potential [2] - Domestic leading companies are rapidly advancing in the fields of quantum computing and post-quantum cryptography, focusing on algorithm development, hardware innovation, and industry application [3] Company Highlights - GuoDun Quantum (国盾量子) supports the commercialization of post-quantum cryptography with a complete industrial chain [4] - Sanwei Xinan (三未信安) has developed a full range of anti-quantum cryptography products, from chips to systems [4] - Jida Zhengyuan (吉大正元) is actively promoting research on anti-quantum cryptography migration, achieving full-stack innovation from algorithms to applications [4] - Tianrongxin (天融信) has made strategic investments in quantum computing, leading the upgrade of security products with chip-level post-quantum cryptography cards [4] - Electric Science Network Security (电科网安) has launched the "Quantum Armor" series of anti-quantum cryptography products, creating a comprehensive security ecosystem [4] - Geer Software (格尔软件) focuses on financial industry applications for anti-quantum migration solutions [4] - GuoXin Technology (国芯科技) is integrating quantum technology with trusted computing chips, establishing a full-chain layout from algorithms to products [4] Investment Recommendations - Companies to watch in the post-quantum cryptography space include GuoDun Quantum, Sanwei Xinan, Jida Zhengyuan, Tianrongxin, Electric Science Network Security, Geer Software, and GuoXin Technology [5] - Additional companies related to quantum computing include Qiming Star (启明星辰), Keda Guokuan (科大国创), Hexin Instruments (禾信仪器), Shenzhou Information (神州信息), Kehua Data (科华数据), China Great Wall (中国长城), Guangxun Technology (光迅科技), Unisoc (紫光国微), and Hengtong Optic-Electric (亨通光电) [5]

Core Viewpoint - The company, Qiming Star, emphasizes that its Anxing Intelligent System is primarily designed for cybersecurity scenarios, leveraging self-developed security products and tools to enhance intelligent security operations, threat detection, data analysis, and proactive defense capabilities to address complex threats [1] Group 1 - The Anxing Intelligent System helps users build an AI + security protection system, improving efficiency and capabilities [1] - The company states that its intelligent system does not require adaptation to the Hongmeng Intelligent System in the current application scenarios [1]

Core Viewpoint - The company emphasizes its commitment to providing security products and services tailored to the financial sector, particularly in the context of new business scenarios involving stablecoins [1] Group 1 - The financial sector remains a key industry client for the company, highlighting its importance in the overall business strategy [1] - The company is actively monitoring the progress of stablecoin applications and is focused on analyzing the associated security challenges [1] - The company aims to align its security products and services with the specific security needs of its clients in the financial industry [1]

Group 1 - The core viewpoint of the article highlights the rapid growth of the SASE (Secure Access Service Edge) market in China, driven by the increasing complexity of cross-cloud access and management due to digital transformation and remote work trends [1][7][10] - The SASE market in China is projected to reach approximately 1.14 billion yuan in 2024, with a year-on-year growth of 37.8%, and is expected to expand to 1.4 billion yuan by 2025 [1][10][11] - SASE solutions are primarily deployed on-premises, accounting for over 65% of the market, but a shift towards SaaS deployment is anticipated by 2029 [12][13] Group 2 - The competitive landscape of the SASE market includes three main groups: network/cloud service providers (e.g., Alibaba Cloud, Tencent Cloud Security), security vendors (e.g., Sangfor, Qi An Xin), and SASE startups [2][12][13] - The top five companies in the SASE market hold a combined market share of 50.6%, with Sangfor, Volcano Engine, and Huawei leading the first tier, each with over 10% market share [1][13] - The SASE user base spans various industries, including manufacturing, government, telecommunications, and finance, with primary demands focused on network attack protection, resource elasticity, and compliance assurance [10][12] Group 3 - The SASE architecture is designed to meet modern network and security needs, featuring identity-driven access, cloud-native capabilities, and global distribution for low-latency services [3][4][5] - SASE's application scenarios include connecting headquarters and branch offices to data centers or private clouds, and managing diverse user identities accessing internal applications [5][6] - The future of SASE is expected to emphasize unified, diversified, and AI-driven development paths, enhancing service capabilities and operational efficiency [14][19]

Core Viewpoint - The company is actively pursuing advancements in quantum computing and integrating quantum cryptography and anti-quantum cryptographic algorithms into its security products to meet high-security demands from clients against quantum threats [1] Group 1 - The company is focusing on the development of "post-quantum cryptography" and other innovative technologies to enhance the anti-attack capabilities of its cryptographic services [1] - The company aims to strengthen the entire process of cryptographic application services to address future challenges posed by quantum computing [1]

格隆汇9月11日丨启明星辰(002439.SZ)在互动平台表示，公司主业是提供网信安全产品、安全服务与综 合解决方案，并不涉及服务器等IT基础设施业务，因此尚未布局液冷服务器领域。 ...

Group 1 - The core viewpoint of the article is that the company, Qimingxingchen (启明星辰), clarifies its business focus on providing cybersecurity products, services, and comprehensive solutions, explicitly stating that it does not engage in IT infrastructure businesses such as servers [1] Group 2 - The company has not made any plans to enter the liquid cooling server market, reinforcing its commitment to its primary business area [1]