格隆汇8月1日｜东莞证券研报指出，汉得信息是国内领先企业数字化综合服务商，公司业绩稳步回升。 近年来，公司基于对AI智能化应用、企业级PaaS平台、数据平台业务三大新兴业务的平台化智能化产 品和能力沉淀，通过"产品+服务"双轮模式，进一步加持自主产品业务板块"产业数字化+财务数字化"， 同步提升传统业务板块"泛ERP"、"ITO外包"的交付质量和交付效率，为企业客户提供从战略规划到落 地实施的全周期数字化支持。2025Q1，公司营业收入同比增长1.27%，扣非后归母净利润同比增长 27.32%，公司业绩增长的主要动力来自于自主软件产品业务。公司为国内领先的企业数字化综合服务 商，近年来不断完善B端AI应用产品/服务，较大力度开拓自主产品业务，有望充分受益于AI及信创发 展。维持对公司"买入"评级。 ...

Group 1 - The core viewpoint of the article is that Dongguan Securities has given a "buy" rating to Hand Information (300170.SZ) based on its strong performance and strategic positioning in the digital service sector [2] - Hand Information is recognized as a leading domestic digital comprehensive service provider, with its performance steadily recovering [2] - The company is proactively positioning itself in the AI technology landscape, preparing for the era of AI intelligent agents [2] - Hand Information's self-developed product business is experiencing rapid growth, benefiting from the trend of domestic innovation [2]

Investment Rating - The report maintains a "Buy" rating for the company [1] Core Viewpoints - The company is a leading digital comprehensive service provider in China, steadily recovering its performance and transitioning from a single implementation service provider to a "software + implementation + operation" digital comprehensive product and solution provider [5][12] - The company has made significant advancements in AI technology, launching its enterprise-level AI platform "Dashing" and transitioning to a B-end intelligent product and solution provider [5][12] - The company is expected to benefit from the growth of AI and domestic innovation, with a projected EPS of 0.24, 0.30, and 0.37 for 2025-2027, corresponding to PE ratios of 78, 61, and 50 respectively [5] Summary by Sections Company Overview - The company, HanDe Information, has evolved over nearly 30 years from an ERP consulting service provider to a comprehensive digital service provider, serving over 7,000 leading enterprises across various sectors [12][15] - The company has established a global presence with subsidiaries in Japan, Singapore, and the United States, enhancing its capability to provide digital services worldwide [12] Business Segments - The company's main business segments include industrial digitalization, financial digitalization, general ERP, and IT outsourcing, covering various management application software products and solutions [15][20] - The industrial digitalization segment focuses on smart manufacturing, digital marketing, and collaborative supply chains, while the financial digitalization segment supports clients' financial management needs [20][22] Financial Performance - In Q1 2025, the company reported a revenue of 742 million yuan, a year-on-year increase of 1.27%, with a net profit of 35 million yuan, reflecting a 30.10% decline due to previous accounting adjustments [29][31] - The company's gross margin improved to 33.66% in Q1 2025, driven by the growth of its proprietary software business, which has become a key growth driver [29][31] AI Development - The company has positioned itself at the forefront of AI technology, launching its AI product/service application system "De·Ling" and exploring B-end AI integration since 2019 [5][12] - The report highlights the potential of AI Agents in enterprise services, with the company expected to leverage this trend to enhance its service offerings [41][42] Market Opportunities - The company is well-positioned to benefit from the domestic innovation wave, particularly in the ERP and IT outsourcing markets, where there is significant room for domestic product replacement [5][22] - The report emphasizes the growing demand for AI solutions in enterprise services, suggesting that the company will capitalize on this trend to drive future growth [41][42]

Group 1 - The financial and tax digitalization concept index rose by 1.11%, ranking 8th among concept sectors, with 36 stocks increasing in value [1] - Notable gainers in the financial and tax digitalization sector included Digital Certification, which hit a 20% limit up, and Huibo Yuntong, Yonyou Network, and Yongxin Zhicheng, which rose by 13.31%, 8.05%, and 7.88% respectively [1] - The sector saw a net inflow of 1.579 billion yuan from main funds, with 37 stocks receiving net inflows, and 5 stocks exceeding 100 million yuan in net inflow [2] Group 2 - Yonyou Network led the net inflow with 867.33 million yuan, followed by Digital Certification, Dou Shen Education, and Hand Information with net inflows of 216.85 million yuan, 180 million yuan, and 143 million yuan respectively [2][3] - The net inflow ratios for Yonyou Network, Digital Certification, and Yuanguang Software were 30.76%, 17.21%, and 15.94% respectively, indicating strong investor interest [3] - The financial and tax digitalization sector's performance was contrasted by declines in other sectors, such as special steel and low-radiation glass, which fell by 3.20% and 3.07% respectively [2]

| 000820 | *ST节能 | 3.70 | 2.42 | 2.75 | 2.80 | 1.71 | | --- | --- | --- | --- | --- | --- | --- | | 301191 | 菲菱科 | 2.33 | 9.17 | 90.19 | 91.69 | 1.66 | | | 思 | | | | | | | 000681 | 视觉中 国 | 5.38 | 11.45 | 21.38 | 21.73 | 1.62 | | 002230 | 科大讯 飞 | 1.59 | 2.03 | 48.41 | 49.18 | 1.58 | | 300115 | 长盈精 密 | 9.87 | 13.64 | 22.57 | 22.93 | 1.58 | | 688766 | 普冉股 份 | 3.1 1 | 5.06 | 68.97 | 70.04 | 1.55 | | 688152 | 麒麟信 安 | 3.92 | 7.78 | 46.19 | 46.88 | 1.50 | | 301210 | 金杨股 份 | 2.69 | 13.61 | 42.18 | 42.80 | 1.46 | | ...

数据来源：天眼查APP 证券之星消息，根据天眼查APP数据整理，近日，北京汉得信息技术有限公司成立，法定代表人为代 鹏，注册资本500万元，经营范围包含：一般项目：技术服务、技术开发、技术咨询、技术交流、技术 转让、技术推广；信息技术咨询服务；软件开发；计算机系统服务；信息系统集成服务；互联网数据服 务；信息系统运行维护服务；软件销售；计算机软硬件及辅助设备批发；网络设备销售；销售代理；软 件外包服务；数据处理和存储支持服务；非居住房地产租赁；计算机及通讯设备租赁；办公设备租赁服 务。(除依法须经批准的项目外，凭营业执照依法自主开展经营活动)(不得从事国家和本市产业政策禁止 和限制类项目的经营活动。)。天眼查APP股权穿透显示，该公司由汉得信息全资持股。 ...

Market Performance - The Zhipu AI concept index rose by 2.21%, ranking fifth among concept sectors, with 51 stocks increasing in value [1] - Notable gainers included Yinsai Group with a 20% limit up, and other top performers such as Haitan Ruisheng, Yidian Tianxia, and Guangyun Technology, which rose by 8.22%, 6.38%, and 6.21% respectively [1][2] - The sector saw a net inflow of 2.54 billion yuan from main funds, with 45 stocks receiving net inflows, and 10 stocks exceeding 100 million yuan in net inflow [2] Fund Flow Analysis - The leading stocks in terms of net fund inflow included Zhongke Shuguang with 349 million yuan, followed by BlueFocus and Hand Information with 243 million yuan and 237 million yuan respectively [2][3] - The top three stocks by net inflow ratio were Shengtong Co., Yinsai Group, and Shen Sanda A, with ratios of 18.80%, 15.91%, and 12.75% respectively [3] Stock Performance - Zhongke Shuguang had a daily increase of 1.82% with a turnover rate of 3.26% and a net fund flow of 348.53 million yuan [3] - Yinsai Group experienced a significant rise of 19.99% with a turnover rate of 25.64% [3] - Other notable performers included BlueFocus and Hand Information, which rose by 4.12% and 3.74% respectively [3][4]

Group 1 - Huawei Ascend concept stocks rose by 2.30%, ranking 4th in the concept sector, with 62 stocks increasing in value [1] - Notable gainers include Tianrun Technology with a 30% limit up, and Zhizhen Technology and Duolun Technology also hitting the limit up [1] - Decliners in the sector include Qidi Design, ChaoTu Software, and Innovation Medical, with declines of 6.81%, 3.48%, and 1.69% respectively [1] Group 2 - The Huawei Ascend concept sector saw a net inflow of 1.861 billion yuan, with 43 stocks receiving net inflows, and 8 stocks exceeding 100 million yuan in net inflows [2] - Top net inflow stocks include Tuowei Information with 372 million yuan, followed by Hand Information, Keda Xunfei, and Duolun Technology with net inflows of 237 million yuan, 186 million yuan, and 181 million yuan respectively [2] - The net inflow ratios for Zhizhen Technology, Duolun Technology, and Tongfang Co. were 36.23%, 34.87%, and 12.95% respectively [3] Group 3 - The top gainers in the Huawei Ascend concept include Tuowei Information with a 3.75% increase and a turnover rate of 14.00%, and Hand Information with a 3.74% increase and a turnover rate of 14.20% [3] - Other notable gainers include Keda Xunfei with a 4.02% increase and Duolun Technology with a 9.95% increase [3][4] - The overall performance of the Huawei Ascend concept stocks indicates strong investor interest and significant capital inflows [2][3]

Core Viewpoint - The performance of Huawei's computing concept stocks is active, with significant gains observed in several companies ahead of the World Artificial Intelligence Conference (WAIC) [1] Group 1: Stock Performance - Yuncong Technology saw a rise of over 10% [1] - Zhizhen Technology reached its daily limit up [1] - Tianrun Technology, Tuolisi, and Zhongcheng Technology increased by over 5% [1] - Other companies such as Hand Information, Danghong Technology, Youkede, and Hengwei Technology also experienced gains [1] Group 2: Upcoming Events - The 2025 World Artificial Intelligence Conference (WAIC) is set to take place from July 26 to July 29 [1] - Huawei will showcase its Ascend 384 super node hardware for the first time at this event [1] - Huawei's Ascend super node technology has achieved the industry's largest scale with 384 card high-speed bus interconnection [1]

Group 1 - The core viewpoint highlights a significant rebound in the optical module sector and AI applications, with notable stock performances from companies like Guangku Technology and Lian Te Technology [1] - The AI application sector is showing active performance, with stocks such as Tuoer Si and Han De Information experiencing gains [1] - The market sentiment for the AI-focused ETF (159363) improved after a three-day decline, indicating a recovery in trading activity with a total transaction volume of 160 million yuan [1] Group 2 - The outlook for the optical module sector suggests a dual increase in performance and valuation, making it a key area for investment focus [3] - Multiple companies in the computing power industry are reporting strong earnings forecasts, reflecting sustained high demand for AI computing power [3] - The A-share computing power industry is viewed as a rare growth sector, with expectations for a shift in valuation systems towards growth stocks as AI commercialization progresses [3] Group 3 - Citic Securities reports that Nvidia's resumption of H20 sales and advancements in next-generation systems are boosting confidence in the domestic AI industry chain [4] - The AI industry chain is expected to accelerate due to supportive policies and ongoing innovations in AI applications [4] - The first ETF tracking the entrepreneurial board AI index is recommended for investment, focusing on core opportunities in AI computing power [4]