Group 1 - The A-share market saw a significant rise in digital currency concept stocks, with notable increases in companies such as Chipone Technology, which rose over 7% [1] - Other companies that experienced gains include Lakala, Xiaoshangpin City, Donggang Co., StarNet Ruijie, and Torstar, among others [1] - The People's Bank of China has introduced an action plan to strengthen the management and service system for digital RMB, with a new framework set to be implemented on January 1, 2026 [2] Group 2 - As of November 2025, digital RMB has processed a total of 3.48 billion transactions, amounting to 16.7 trillion yuan [3] - The digital RMB app has opened 230 million personal wallets, with 18.84 million unit wallets established [3] - The mBridge initiative has processed 4,047 cross-border payment transactions, totaling approximately 387.2 billion yuan, with digital RMB accounting for about 95.3% of the transaction volume [3]

12月29日，A股数字货币概念异动拉升。截至发稿，芯原股份涨超7%，拉卡拉、小商品城、东港股 份、星网锐捷、拓尔思等多股跟涨。 编辑 ｜心一 消息面上，据央视新闻，中国人民银行已经出台《关于进一步加强数字人民币管理服务体系和相关金融 基础设施建设的行动方案》， 新一代数字人民币计量框架、管理体系、运行机制和生态体系将于2026 年1月1日正式启动实施 。 数据显示，截至2025年11月末，数字人民币累计处理交易34.8亿笔，累计交易金额16.7万亿元。通 过数字人民币App开立个人钱包2.3亿个，数字人民币单位钱包已开立1884万个。多边央行数字货币桥 （mBridge）累计处理跨境支付业务4047笔，累计交易金额折合人民币3872亿元，其中数字人民币 在各币种交易额占比约95.3%。 | 代码 | 名称 | 涨幅 | 现价 | | --- | --- | --- | --- | | 300205 | *ST大喻 | +9.98% | 4.63 | | 688521 | 芯原股份 | +7.12% | 137.04 | | 603300 | 海南华铁 | +6.15% | 8.29 | | 002647 | ...

Core Viewpoint - The company, Toris (300229), has successfully implemented its artificial intelligence technology in various high-value B-end scenarios, moving beyond mere concepts or demonstrations [1] Group 1: AI Technology Implementation - The company is one of the earliest in China to focus on natural language processing (NLP) and has developed a comprehensive AI capability system centered on large models, knowledge graphs, and multimodal understanding [1] - The AI technology is applied in key sectors such as government, finance, public security, media, and intellectual property, facilitating the evolution of AI from "usable" to "user-friendly, reliable, and frequently used" [1] Group 2: Business Applications and Value - The self-developed "TuoTian large model" and intelligent platform have been deployed in central ministries, state-owned banks, provincial public security, and mainstream central media, supporting complex tasks like policy interpretation, financial risk assessment, public opinion event simulation, and intellectual property infringement identification [1] - The company emphasizes the integration of industry knowledge and AI engineering to achieve deep fusion of technology and business in highly compliant, secure, and deeply integrated scenarios [1] - The AI capabilities have been thoroughly validated and widely applied in the target market, forming a replicable and measurable business value loop [1]

证券日报网讯12月25日，拓尔思（300229）在互动平台回答投资者提问时表示，公司核心竞争力主要体 现在以下三个方面：一是全栈AI能力优势。公司构建了覆盖"数据—算法—应用"的完整AI技术体系：在 数据层，拥有全球海量高质量、多场景语料，并自主研发海贝搜索数据库、向量数据库及图数据库等核 心引擎；在算法层，形成以"拓天大模型"为底座，融合知识图谱、NLP、视觉计算等能力的大小模型协 同矩阵；在应用层，推出"拓天链"智能体无代码平台，以及事件推演博弈平台等垂直场景AI产品。二是 稀缺数据资源壁垒。自2010年自建大数据中心以来，公司持续积累并治理高价值行业数据，已形成"高 质量治理—高密度挖掘—高价值赋能"的数据闭环，为大模型训练与行业智能化提供坚实支撑。三是行 业深耕与AI工程化双轮驱动。公司深度服务政务、媒体、金融、公安、网信等关键领域，头部客户覆 盖中央部委80%、中央媒体72%、国有银行100%、省级公安及网信部门超半数，建立了深厚的行业 Know-How与规模化落地能力。 ...

格隆汇12月25日丨拓尔思(300229.SZ)在投资者互动平台表示，拓尔思的人工智能技术已在多个高价值B 端场景实现规模化、深度化应用，并非停留在概念或演示阶段。作为国内最早深耕自然语言处理 （NLP）的企业之一，公司已构建以大模型、知识图谱、多模态理解为核心的全栈AI能力体系，并聚焦 政务、金融、公安、媒体、知识产权等关键领域，推动AI从"能用"向"好用、敢用、常用"演进。 目 前，公司自研的"拓天大模型"及智能体平台已在中央部委、国有银行、省级公安及主流央媒等客户中落 地，支撑如政策智能解读、金融风险研判、舆情事件推演、知识产权侵权识别等高复杂度任务，形成可 复制、可计量的业务价值闭环。 需要说明的是，公司AI技术路线始终聚焦产业智能化升级，而非消费 级C端应用（如影视流、广告推荐等）。我们更强调在强合规、高安全、深业务耦合的场景中，通 过"行业知识+AI工程化"实现技术与业务的深度融合。因此，公司的AI能力已在目标市场获得充分验证 和广泛应用。 ...

Core Viewpoint - The company has successfully implemented its artificial intelligence technology in various high-value B-end scenarios, moving beyond mere concepts or demonstrations [1] Group 1: AI Technology and Applications - The company is one of the earliest in China to focus on natural language processing (NLP) and has developed a comprehensive AI capability system centered around large models, knowledge graphs, and multimodal understanding [1] - The AI technology is applied in key sectors such as government, finance, public security, media, and intellectual property, facilitating the evolution of AI from "usable" to "user-friendly, reliable, and frequently used" [1] - The self-developed "Tuotian Large Model" and intelligent platform have been deployed among central ministries, state-owned banks, provincial public security, and mainstream central media, supporting complex tasks like policy interpretation, financial risk assessment, public opinion event simulation, and intellectual property infringement identification [1] Group 2: Focus on Industry and Compliance - The company's AI technology strategy is focused on industrial intelligence upgrades rather than consumer-level applications, emphasizing strong compliance, high security, and deep business integration [1] - The integration of "industry knowledge + AI engineering" aims to achieve a deep fusion of technology and business, which has been validated and widely applied in the target market [1]

格隆汇12月25日丨拓尔思(300229.SZ)在互动平台表示，公司目前未涉及OCS（全光交换）技术及相关 Scale-Up智算网络底层硬件研发。拓尔思的核心聚焦于人工智能与大数据在行业应用层的深度融合，包 括大模型、智能体平台及多模态分析系统等软件与解决方案。 ...

每经AI快讯，有投资者在投资者互动平台提问：贵公司是否有OCS（全光交换）技术？ 拓尔思（300229.SZ）12月25日在投资者互动平台表示，公司目前未涉及OCS（全光交换）技术及相关 Scale-Up智算网络底层硬件研发。拓尔思的核心聚焦于人工智能与大数据在行业应用层的深度融合，包 括大模型、智能体平台及多模态分析系统等软件与解决方案。 （记者 王瀚黎） ...

Investment Rating - The report maintains a "Recommended" investment rating for the computer industry [2][6]. Core Insights - The release of Doubao Model 1.8 and the Seedance 1.5 pro video generation model at the Force conference highlights significant advancements in AI capabilities, particularly in multi-modal agent scenarios [5]. - Doubao Model 1.8 achieved a score of 67.6 in the BrowseComp evaluation, surpassing leading models like GPT-5 High (54.9) and Gemini-3-pro (37.8), indicating its top-tier performance in complex task planning and execution [5]. - The upgraded Seedance 1.5 pro model features breakthroughs in audio-visual synchronization and multilingual dialogue alignment, enhancing its practical and commercial potential [5]. - The AI industry is transitioning from technical validation to large-scale implementation, with Doubao Model's daily token usage exceeding 50 trillion, ranking third globally [5]. - Future investment focus areas include general agent development platform vendors, vertical industry agent solution providers, and small to medium enterprises benefiting from cost-reduction policies [5]. Summary by Sections Recent Developments - The Force conference held on December 18-19, 2025, showcased the launch of Doubao Model 1.8 and the Seedance 1.5 pro model [3][5]. Market Trends - The AI ecosystem in China is led by major companies, with a focus on agents, multi-modal capabilities, and low-code solutions, which are expected to drive continued investment in computing infrastructure [6]. Investment Recommendations - Key companies to watch include: - AI Computing: Cambrian-U (688256.SH), Haiguang Information (688041.SH), Inspur Information (000977.SZ) - Agent Solutions: Kingsoft Office (688111.SH), Dingjie Zhizhi (300378.SZ), Saiyi Information (300687.SZ) - Multi-modal Solutions: Wanjing Technology (300624.SZ), iFlytek (002230.SZ), Tuolisi (300229.SZ) - AI Programming: Zhuoyi Information (688258.SH), Jinxiandai (300830.SZ) [6].

Core Viewpoint - The company's performance assessment indicators for the 2025 equity incentive plan will depend on the actual operational results in the fourth quarter of the current year [1] Group 1: Performance Assessment - The performance assessment indicators are set based on multiple factors including macroeconomic environment, historical performance, strategic goals, and industry development [1] - Actual performance may deviate from expected targets due to various influences such as intensified market competition, delayed customer procurement schedules, and postponed project deliveries [1]