Investment Rating - The industry investment rating is "Positive" (maintained) [2] Core Insights - The report highlights the continuous iteration of multimodal AI and the acceleration of IP industry capitalization, driven by advancements in AI applications and new consumption trends [4][5] - Major model vendors are strengthening collaborations, leading to innovations in voice models, social applications, and agents, which are expected to enhance AI application penetration and commercialization [4] - The report suggests continued investment in AI-related companies and sectors, including AI virtual companionship, AI animation/film/short dramas, AI e-commerce/advertising, and AI education [4] Industry Data Overview - The game "Brave Land" ranked first on the iOS free chart, while "Honor of Kings" topped the iOS revenue chart as of May 24, 2025 [12][16] - The film "Dumpling Queen" achieved a weekly box office of 0.51 billion, with a cumulative box office of 3.79 billion [27] - The report notes that the A-share media sector outperformed major indices in the 21st week of 2025, with the gaming sector showing strong performance [9] Industry News Summary - The report discusses the launch of the "AI Virtual Human Podcast" feature by ShengTian Network, which aims to enhance user experience in podcast creation [4][33] - The AI comic drama business of Zhongwen Online has shown significant growth, with plans to produce 300 works in 2024 [35] - Tencent Cloud has launched a new intelligent agent development platform, marking a significant upgrade in its AI infrastructure [36] Company Recommendations - Key recommendations include Tencent Holdings and Kuaishou-W for major models/agents, with Alibaba-W and Kunlun Wanwei as beneficiaries [4] - For AI virtual companionship, recommended companies include ShengTian Network and NetEase Cloud Music, with beneficiaries like Tom Cat and Shifeng Culture [4] - In the AI animation/film/short drama sector, Shanghai Film is a key recommendation, with beneficiaries including Guomai Culture and Huace Film [4]

Group 1 - The China Securities 500 Quality Growth Index (930939) increased by 0.59% as of May 23, 2025, with notable gains from Huahai Pharmaceutical (600521) at 8.66%, Betta Pharmaceuticals (300558) at 6.12%, and Xinlitai (002294) at 5.79% [1] - The 500 Quality Growth ETF (560500) rose by 0.75%, with the latest price at 0.95 yuan [1] - The Chief Risk Officer announced a more flexible and precise issuance counter-cyclical adjustment mechanism to better align investment and financing in the capital market [1] Group 2 - Bohai Securities indicated that future market opportunities will depend on incremental changes, suggesting that in case of unexpected downturns due to external risks or investor sentiment, investors should consider counter-cyclical strategies [2] - The report emphasized a "barbell" allocation strategy, focusing on high-dividend and relatively underweighted banking sectors, while also looking for thematic investment opportunities in mergers and acquisitions and new consumption sectors [2] - The 500 Quality Growth Index selects 100 companies with high profitability, sustainable earnings, and strong cash flow from the China Securities 500 Index, providing diverse investment options [2] Group 3 - As of April 30, 2025, the top ten weighted stocks in the China Securities 500 Quality Growth Index accounted for 24.07% of the index, with Chifeng Jilong Gold Mining (600988) being the highest at 3.13% [3] - The top ten stocks include companies like Ninebot (689009), Kaiying Network (002517), and Shenghong Technology (300476), with varying weightings and performance [5]

Core Insights - The event organized by Shenzhen Stock Exchange focused on the theme "Empowering Intelligence, Pursuing New Blue Oceans," highlighting the integration of AI technology in business development and its impact on company performance [1] Group 1: AI-Driven Performance Growth - Companies are experiencing robust growth driven by AI technology, with examples like Ruiming Technology reporting a 63.45% increase in total revenue to 2.777 billion yuan and a 184.50% rise in net profit to 290 million yuan in 2024 [2] - Shenzhou Taiyue achieved a revenue of 6.452 billion yuan, an 8.22% increase, and a net profit of 1.428 billion yuan, up 60.92%, marking five consecutive years of revenue and profit growth [2] Group 2: AI Application and Innovation - Companies are actively integrating AI into their operations, with Shenzhou Taiyue utilizing AI tools in game production, reducing 2D art costs by 40% and 3D art costs by 20% [2] - Guolinda has developed an AI model for the construction industry, enhancing automation and decision-making across the project lifecycle, and has committed to deep integration of AI in all products [3] Group 3: R&D Investment and Strategy - Companies are increasing R&D investments to enhance technological foundations and efficiency, with Ruiming Technology allocating 284 million yuan to R&D, a 15.14% increase [4] - Shenzhou Taiyue plans to leverage its digital capabilities to explore new technologies and business models in the AI era, aiming for stable cash flow from new business lines [4] - Collaboration through mergers and acquisitions is encouraged by current policies, with Shenzhou Taiyue looking to invest in quality assets to support long-term growth [5]

Group 1 - The artificial intelligence (AI) sector is experiencing unprecedented growth, significantly altering economic and social development trajectories, with strong market enthusiasm for exploration in this frontier field [1][2] - The Shenzhen Stock Exchange is actively promoting AI by organizing performance briefings for listed companies in the sector, encouraging investor engagement through various interactive platforms [1][2] - The Chinese government is committed to advancing the "AI+" initiative, aiming to integrate AI into various sectors to enhance economic development [2] Group 2 - Companies in the AI sector are rapidly expanding their capabilities, with a notable increase in demand for computing power driven by the explosion of large AI models, which have reached a parameter scale of 2 trillion as of April 2025 [3] - The AI and IoT/communications markets are in a phase of rapid development, requiring companies to invest heavily in R&D to maintain competitiveness and adapt to fast-changing technology and user needs [4] - Companies are focusing on innovation as a key driver, exploring paths for technology implementation while also committing to social and investor value return [5][6] Group 3 - Companies are enhancing their R&D investments in AI, video cloud, and machine vision to prepare for future market demands, ensuring sustainable business growth [6] - Firms like Guanglian Da have integrated AI deeply into their products since 2015, recognizing the value of data and significantly improving efficiency across various levels of operation [6] - Companies are committed to providing reasonable returns to investors, with consistent cash dividends exceeding commitments and regulatory requirements since their listings [6]

Group 1 - The mobile gaming sector saw a rise of 0.33%, leading among concept sectors, with 22 stocks increasing in value, including Kunlun Wanwei which hit a 20% limit up [1] - Notable gainers included Zongyi Co., Shengtong Co., and Youzu Network, which rose by 9.77%, 5.57%, and 5.49% respectively [1] - The sector experienced a net inflow of 1.28 billion yuan from major funds, with Kunlun Wanwei attracting the largest inflow of 1.278 billion yuan [1] Group 2 - In terms of fund inflow ratios, Kunlun Wanwei, Sheng Tian Network, and Zhongnan Culture led with net inflow rates of 23.76%, 12.65%, and 11.80% respectively [2] - The top stocks by fund inflow included Kunlun Wanwei with a daily increase of 20.01% and a turnover rate of 12.32% [2] - Other significant stocks included Tom Cat, Shenzhou Taiyue, and Shengtong Co., with respective net inflows of 158.39 million yuan, 95.44 million yuan, and 76.13 million yuan [2]

Market Overview - The Shanghai Composite Index fell by 0.22% on May 22, with only three sectors rising, namely banking, media, and home appliances, which increased by 1.00%, 0.12%, and 0.04% respectively [1] - The media industry ranked second in terms of daily gains [1] - A total of 27 sectors experienced net outflows of capital, with the automotive sector leading the outflow at 3.698 billion yuan, followed by the power equipment sector with a net outflow of 3.500 billion yuan [1] Media Industry Performance - The media industry saw an increase of 0.12% with a net inflow of 1.157 billion yuan, comprising 130 stocks, of which 33 rose and 95 fell [2] - The top three stocks with the highest net inflow in the media sector were Kunlun Wanwei, Tom Cat, and Shenzhou Taiyue, with net inflows of 1.278 billion yuan, 158 million yuan, and 95.44 million yuan respectively [2] - The stocks with the highest net outflow included ST Huayuan, Light Media, and Vision China, with net outflows of 129 million yuan, 110 million yuan, and 58.30 million yuan respectively [2][4] Capital Flow in Media Sector - The media sector had a total of 49 stocks with net inflows, while 8 stocks experienced net outflows exceeding 30 million yuan [2] - The top gainers in the media sector included Kunlun Wanwei with a 20.01% increase and a turnover rate of 12.32%, followed by Tom Cat with a 4.11% increase [2][4] - The stocks with the largest capital outflows included ST Huayuan, which fell by 3.12%, and Light Media, which decreased by 1.40% [4]

Group 1 - The core viewpoint of the news is that the A-share market is expected to gradually break away from the sideways trading range seen since the second half of last year, supported by strong market stabilization measures and improving economic conditions [1] - The CSI 500 Quality Growth Index, which includes 100 companies with high profitability and sustainable earnings, is closely tracked by the CSI 500 Quality Growth ETF [2] - As of April 30, 2025, the top ten weighted stocks in the CSI 500 Quality Growth Index account for 24.07% of the index, with notable companies including Chifeng Jilong Gold, Ninebot, and Kaiying Network [2] Group 2 - The CSI 500 Quality Growth ETF has seen a recent decline of 0.32%, with a latest price of 0.94 yuan and a trading volume of 126.29 million yuan [1] - The ETF's average daily trading volume over the past week was 596.99 million yuan, ranking it first among comparable funds [1] - The performance of individual stocks within the index varied, with Lijun Group leading with a 2.13% increase, while Wanxiang Qianchao experienced a significant drop of 6.72% [1][3]

编号：2025-003 | | | □特定对象调研□分析师会议 | | --- | --- | --- | | 投资者关系活动 | □媒体采访☑业绩说明会 | | | 类别 | □新闻发布会□路演活动 | | | | □现场参观 | | | | □其他 | | | 参与单位名称及 | 参加"智脑赋能·逐梦新蓝海—2024 年度集体业绩说明会" | | | 人员姓名 | 的全体投资者 | | | 时间 | | 2025 年 5 月 21 日下午 15:00-17:00 | | 地点 | | 深圳证券交易所"互动易"平台（http://irm.cninfo.com.cn） | | | | 董事兼首席运营官:翟一兵先生 | | 上市公司接待人 | | 独立董事:刘慧龙先生 | | 员姓名 | | 副总裁兼财务总监:戈爱晶女士 | | | | 董事会秘书兼首席品牌官:张开彦先生 | | | 年度业 | 公司于 年 月 日（星期三）在深圳证券交易所 2025 5 21 上市大厅通过图文与直播视频转播的方式举办 2024 | | 投资者关系活动 | | 绩说明会，公司与投资者进行了互动交流和沟通，并就投资 | | 主要内 ...

北京神州泰岳软件股份有限公司 第一章 总则 第一条 为强化董事会决策功能，持续完善公司内控体系建设，确保董事会 对经理层的有效监督管理，不断完善公司治理结构，根据《中华人民共和国公司 法》 （以下简称"《公司法》"）、《北京神州泰岳软件股份有限公司章程》（以下简 称"《公司章程》"）及其他有关规定，公司特设立董事会审计委员会，并制定本 实施细则。 第二条 董事会审计委员会是董事会设立的专门工作机构，主要负责公司与 外部审计的沟通及对其的监督核查、对内部审计的监管、公司内部控制体系的评 价与完善，以及对公司正在运作的重大投资项目等进行风险分析。 第二章 人员组成 第三条 审计委员会由三名董事组成，独立董事占多数并担任召集人，委员 中至少有一名独立董事为专业会计人士，审计委员会成员应当为不在公司担任高 级管理人员的董事。 审计委员会成员应当具备履行审计委员会工作职责的专业知识和经验。 第四条 审计委员会委员由董事长、二分之一以上独立董事或者全体董事的 三分之一提名，并由董事会全体董事过半数选举产生。 审计委员会设主席一名，由独立董事担任，且应为会计专业人士，负责主持 委员会工作。审计委员会主席由董事会在委员中任命 ...

General Provisions - The company aims to protect the legal rights of shareholders, employees, and creditors, and to regulate its organization and behavior according to relevant laws [2][3] - The company is established as a joint-stock limited company in accordance with the Company Law and other relevant regulations [2] - The company was approved to change from a limited liability company to a joint-stock limited company and registered in Haidian District, Beijing [2][3] - The company was approved by the China Securities Regulatory Commission to issue 31.6 million shares of common stock to the public and was listed on the Shenzhen Stock Exchange on October 30, 2009 [3] Company Structure - The company has a registered capital of RMB 1,962,564,954.00 [2][3] - The company is a permanent joint-stock limited company [3] - The chairman or general manager serves as the legal representative of the company [3] Business Objectives and Scope - The company's business objective is to promote the industrialization of scientific and technological achievements and to develop new products to meet market needs [4] - The company engages in various activities including software development, technical services, and sales of electronic products [4] Shares - The company's shares are issued in the form of stocks, with each share having a face value of RMB 1 [5][6] - The total number of shares issued by the company is 1,962,564,954, all of which are common shares [6] Shareholder Rights and Responsibilities - Shareholders have the right to receive dividends and participate in decision-making processes [11][12] - Shareholders are required to comply with laws and regulations and are liable for their subscribed shares [15][16] Shareholder Meetings - The company holds annual and temporary shareholder meetings to discuss important matters [48][49] - Shareholder meetings require a quorum and must follow specific procedures for proposals and voting [80][81] Voting and Resolutions - Resolutions can be classified as ordinary or special, with different voting thresholds required for approval [80][82] - Ordinary resolutions require a simple majority, while special resolutions require a two-thirds majority [80][82]