证券研究报告 | 2024年04月26日 昆仑万维（300418.SZ） 增持 23 年年报点评：营收增长稳健，AI 及元宇宙持续推进 核心观点 公司研究·财报点评 营收增长稳健，公允价值变动等收益拉动业绩同比向上。1）公司披露23年 传媒·游戏Ⅱ 年报，全年公司实现营业收入49.15亿元、归母净利润12.58亿元，同比分 证券分析师：张衡 证券分析师：陈瑶蓉 别增长3.78%、9.15%，对应摊薄EPS1.02元；实现扣非归母净利润6.60亿 021-60875160 021-61761058 zhangheng2@guosen.com.cnchenyaorong@guosen.com.cn 元，同比下滑42.86%，扣非大幅下滑主要受投资收益及费用投入影响；2） S0980517060002 S0980523100001 其中Q4单季度实现营业收入12.34亿元、归母净利润9.3亿元，同比分别 基础数据 增长-7.7%、154.2%，对应摊薄EPS 0.77元，归母净利润大幅增长主要在于 投资评级 增持(维持) 公允价值变动影响。 合理估值 收盘价 39.18元 海外业务占比持续提升，搜索与广告业务增长表 ...

证券研究报告·公司点评报告·游戏Ⅱ 昆仑万维（300418） 2023 年年报点评：经营性业绩稳健，All in AI 2024 年 04月 24日 战略持续兑现 证券分析师 张良卫 买入（维持） 执业证书：S0600516070001 021-60199793 盈[T 利ab 预le_ 测EP 与S 估] 值 2022A 2023A 2024E 2025E 2026E zhanglw@dwzq.com.cn 证券分析师 周良玖 营业总收入（百万元） 4,736 4,915 5,617 6,157 6,644 执业证书：S0600517110002 同比（%） (2.35) 3.78 14.27 9.62 7.92 021-60199793 归母净利润（百万元） 1,152.82 1,258.36 848.77 994.92 1,072.97 zhoulj@dwzq.com.cn 同比（%） (25.47) 9.15 (32.55) 17.22 7.84 研究助理 陈欣 EPS-最新摊薄（元/股） 0.95 1.04 0.70 0.82 0.88 执业证书：S0600122070012 P/E（现价&最新摊薄 ...

昆仑万维科技股份有限公司 章 程 | 第一章 | 总则·········································································1 | | --- | --- | | 第二章 | 经营宗旨和范围 ··························································2 | | 第三章 | 股份·········································································2 | | 第四章 | 股东和股东大会 ··························································5 | | 第五章 | 董事会····································································20 | | 第六章 | 总经理及其他高级管理人员 ·········································28 | ...

昆仑万维科技股份有限公司 2023 年度总经理工作报告 证券简称：昆仑万维 证券代码：300418 2024 年 4 月 1 尊敬的各位董事： 一、公司2023年度总体经营情况 昆仑万维致力于实现通用人工智能。凭借超前的战略眼光，公司现已完成"算力基 础设施—大模型算法—AI 应用"全产业链布局，位列国内人工智能企业第一梯队。 报告期内，公司实现营业收入 49.2 亿元，同比增长 3.8%。其中海外业务收入占比 达 86.0%，同比提升 8.4 个百分点；得益于出色的运营能力，公司整体毛利率达 78.8%， 继续维持在较高水平。其中，国内毛利率达 85.3%，同比增加 16.5 个百分点；实现归属 于上市公司股东的净利润 12.6 亿元，同比增长 9.15%，利润规模继续位居行业前列。报 告期内，公司坚定践行"All in AGI 与 AIGC"发展战略，加大研发投入。2023 年度， 公司研发费用进一步提升至 9.7 亿元，同比增长 40.2%。本报告期，公司海外信息分发 业务的增长与国内休闲社交业务的稳健运营，为公司利润表现提供了坚实后盾；同时， 公司积极开展投资组合管理，集团投资业务表现优异，进一步增厚 ...

AI and AIGC Technology Development - Increased investment in AGI and AIGC technologies leading to potential losses due to high R&D and deployment costs[1] - The company has been actively involved in the development of generative AI applications, benefiting from the rapid growth of the AI industry[23] - Kunlun Wanwei has completed the layout of the "computing infrastructure - large model algorithm - AI application" full industry chain, positioning itself in the first tier of domestic AI enterprises[29] - The company's "Tiangong 1.0" large model, released in April 2023, achieved an 80% accuracy rate in the GSM8K benchmark, surpassing GPT-3.5's 57.1% and LLaMA2-70B's 56.8%[31] - "Tiangong 3.0," released in April 2024, features a 400 billion parameter MoE architecture, with a 20% improvement in technical knowledge and over 30% improvement in math and coding capabilities compared to its predecessor[32] - The Tiangong SkyAgents platform, launched in December 2023, allows users to create personalized AI assistants without programming, supporting enterprise integration in fields like HR and legal[33] - Kunlun Wanwei's AI search product, Tiangong AI Search, launched in August 2023, has indexed over 10 billion high-quality data resources, ensuring search result accuracy and quality[35] - The company's large model, Tiangong, passed the "Generative AI Service Management Interim Measures" filing in November 2023, enabling open services to the public[33] - Kunlun Wanwei's AI business matrix includes AI search, AI music, AI video, AI social, and AI gaming, with some businesses already commercialized[29] - The Tiangong 2.0 model, released in February 2024, uses a MoE architecture, enhancing its ability to handle complex tasks, response speed, and training efficiency[31] - The company has successfully filtered 3 trillion words from tens of trillions of data, ensuring high-quality Chinese corpus resources for its models[30] - Kunlun Wanwei's large models have demonstrated leading performance in multiple benchmarks, including MMLU, C-EVAL, and HumanEval, achieving international-level core capabilities[31] - TianGong AI Search introduces cross-language retrieval technology (CLIR), significantly expanding user search boundaries by enabling Chinese queries to access global English knowledge bases and providing comprehensive and accurate Chinese responses[36] - TianGong AI Smart Assistant, updated to version 3.0, features advanced semantic understanding, enabling precise task segmentation and real-time judgment on whether to perform web searches or call external tools[37] - The new TianGong AI Smart Assistant introduces enhanced and research modes, improving efficiency and accuracy in handling complex user queries and generating research outlines and knowledge graphs[38][39] - TianGong AI Smart Assistant builds a diverse ecosystem including creation, image, role dialogue, learning efficiency, life entertainment, and research analysis, offering high-frequency official agents like AI writing and AI painting[40] - TianGong SkyMusic, China's first music SOTA model, achieves global leadership in AIGC vertical fields, supporting 80-second stereo AI songs and excelling in Chinese vocal synthesis[42] - TianGong SkyMusic simplifies music creation, allowing users to generate complete AI music works by inputting song titles and lyrics, with AI assisting in style selection and composition[43] - AI game "Club Koala" features a no-code game editor and AI NPCs, enhancing interactivity and immersion, with over 56,000 players participating in the Discord community[44] - Company open-sources the Skywork-13B series, a leading large language model, along with a 600GB, 150B Tokens high-quality Chinese dataset, accelerating AI technology adoption across industries[45] - Company completes full industry chain layout by acquiring AI computing chip company Beijing Aijieke Core Technology, focusing on AI high-performance computing and chip development[47] - The company's R&D team grows to over 1,500 members, with more than 300 holding master's or doctoral degrees, and attracts top AI experts like Professor Yan Shuicheng to strengthen long-term technical advantages[48] - The company's multi-modal large model has been released, aiming to provide general language and computer vision understanding and generation capabilities, laying an important foundation for AGI development[80] - The AI singing beautification system has been launched and continuously optimized, enhancing user experience and satisfaction by improving the quality of user-generated singing content[80] - The company's game "The Legend of War Dragon" is under development, targeting the preferences of European and American players and expected to contribute stable revenue to the gaming business[81] - The company's game "Code D" is under development, aiming to create a high-freedom open virtual world for young users, leveraging AIGC and UGC to generate continuous content[81] - The company plans to focus on AGI and AIGC, advancing the development and iteration of the Tian Gong large model, and enhancing AI applications in gaming, music, video, social, and search[102][104] - The company aims to deepen collaboration with industry partners and strengthen the open-source community to promote AI technology application and ecosystem growth[104] Overseas Business Operations - Overseas business operations unaffected by international geopolitical risks, with products in Europe, America, Southeast Asia, Middle East, and Africa running normally[2] - Risks associated with overseas market operations due to varying political, legal, and cultural environments across different regions[3] - Exchange rate risks due to significant overseas business operations and transactions in multiple currencies[5] - The company will enhance its awareness of exchange rate risks and closely monitor trends in the international foreign exchange market, while cultivating and absorbing high-quality foreign exchange risk management talents to form an effective risk prevention mechanism[6] - Revenue for the reporting period reached 4.92 billion yuan, a year-on-year increase of 3.8%, with overseas business accounting for 86.0% of total revenue, up 8.4 percentage points year-on-year[63] - Overseas revenue accounted for 85.99% of total revenue, reaching 4.23 billion yuan, a year-on-year increase of 15.09%[66] - The company's global monthly active users are nearly 400 million, with operations in over 100 countries[56] - Opera's annualized ARPU reached $1.44 in Q4 2023, a 22% year-over-year increase[52] - Opera's revenue for 2023 was $397 million, a 20% year-over-year increase, with adjusted EBITDA of $93.719 million, up 38%[52] - Opera GX's monthly active users reached 27.8 million, a 37% year-over-year increase, with over 4,500 Mods and 7,000 games available[53] - Opera is expected to achieve revenue between $450 million and $465 million in 2024, with a focus on shifting market and user development towards developed countries and regions[105] - Opera plans to enhance its core business development and commercialization level, focusing on the "browser+" strategy, improving product features, and enriching content supply to position itself as a core gateway to the next-generation internet[105] - Opera will continue to advance AI applications and innovate browsing experiences, while also developing the metaverse by building community content ecosystems and introducing personalized features[105] Financial Performance and Risks - Revenue for 2023 reached 4.915 billion yuan, a year-on-year increase of 3.78%[18] - Net profit attributable to shareholders of the listed company in 2023 was 1.258 billion yuan, up 9.15% year-on-year[18] - Non-recurring net profit attributable to shareholders of the listed company in 2023 was 659.78 million yuan, a decrease of 42.86% year-on-year[18] - Total assets at the end of 2023 were 21.485 billion yuan, an increase of 22.35% compared to the end of 2022[18] - Net cash flow from operating activities in 2023 was 884.64 million yuan, up 6.48% year-on-year[18] - Basic earnings per share in 2023 were 1.05 yuan, an increase of 8.25% year-on-year[18] - Weighted average return on equity in 2023 was 9.05%, a decrease of 0.99 percentage points year-on-year[18] - Non-recurring gains and losses in 2023 amounted to 598.58 million yuan, compared to -1.91 million yuan in 2022[21] - Revenue in the fourth quarter of 2023 was 1.234 billion yuan, with net profit attributable to shareholders of 930 million yuan[19] - The company's overall gross margin reached 78.8%, with domestic gross margin at 85.3%, an increase of 16.5 percentage points year-on-year[63] - R&D expenses increased to 970 million yuan in 2023, a year-on-year growth of 40.2%[63] - Overseas information distribution business growth and stable domestic social entertainment operations contributed significantly to the company's profit performance[63] - The internet industry accounted for 97.26% of total revenue, with a gross margin of 79.01%[66] - Advertising business revenue grew by 28.95% year-on-year, reaching 1.65 billion yuan, but gross margin decreased by 10.51 percentage points[67] - The company's search business revenue increased by 21.22% year-on-year, reaching 1.14 billion yuan, with a gross margin of 95.40%[67] - The company's gaming business revenue decreased by 26.48% year-on-year, but gross margin increased by 31.12 percentage points to 85.18%[67] - Advertising business revenue increased by 68.18% to 744,222,697.91 RMB, accounting for 71.55% of total operating costs[69] - Direct advertising costs surged by 94.21% to 604,668,111.43 RMB, making up 58.14% of total operating costs[70] - R&D expenses rose by 40.16% to 967,584,969.28 RMB due to increased AIGC business-related costs[78] - The company's R&D investment in 2023 reached RMB 999,981,892.73, accounting for 20.34% of the operating revenue, a significant increase from 15.54% in 2022[82] - The company's operating cash flow increased by 6.48% to RMB 884,641,185.32 in 2023, while investment cash flow decreased by 153.58% to -RMB 431,316,509.97[83] - The company's investment cash outflow increased by 99.19% in 2023, primarily due to increased investment in AIGC-related fixed assets and the purchase of stable deposit products and monetary financial instruments[84] - The company's fair value change income reached RMB 659,224,603.54, accounting for 35.08% of the total profit, mainly due to the fair value change of financial assets held by Opera[85] - Cash and cash equivalents decreased by 0.52% to 1,112,454,733.27 yuan, accounting for 5.18% of total assets[86] - Accounts receivable decreased by 1.30% to 680,728,116.89 yuan, accounting for 3.17% of total assets[86] - Long-term equity investments decreased by 0.17% to 1,222,780,805.15 yuan, accounting for 5.69% of total assets[86] - Fixed assets increased by 0.84% to 259,661,315.64 yuan, accounting for 1.21% of total assets[86] - Other non-current financial assets decreased by 1.25% to 9,366,430,031.20 yuan, accounting for 43.60% of total assets[86] - Goodwill increased by 2.38% to 5,324,893,611.74 yuan, accounting for 24.78% of total assets, primarily due to the acquisition of Singularity AI Technology Limited[86] - Overseas assets accounted for 17.61% of the company's net assets, with other non-current financial assets amounting to 3,151,757,944.27 yuan[87] - The company's total investment in the reporting period was 12,209,632,929.14 yuan, an increase of 16.64% compared to the same period last year[92] - The company's investment in iQIYI (IQ) resulted in a loss of 204,123,438.08 yuan, with the ending book value at 842,586,613.81 yuan[93] - The company sold 30% equity of Beijing Lvfan New Energy Technology Co., Ltd. for 300 million yuan, contributing 7.58% to the net profit[97] - Opera Limited's profit mainly comes from fair value changes, with total assets of 10.33 billion yuan and net profit of 901.46 million yuan[98][99] - Opera Software Ireland Limited's profit mainly comes from advertising revenue, with total assets of 458.95 million yuan and net profit of 224.51 million yuan[98][100] - Skywork AI Pte. Ltd.'s profit mainly comes from music social platform revenue, with total assets of 854.55 million yuan and net profit of 307.57 million yuan[98][100] - Beijing Xianlai Interactive Entertainment Network Technology Co., Ltd.'s profit mainly comes from online social chess and card leisure product R&D and operation, with total assets of 567.22 million yuan and net profit of 185.24 million yuan[98][100] - The company's total actual guarantee amount is 12,700 million yuan, accounting for 0.84% of the company's net assets[191] - The company's entrusted financial management amount is 54,095.48 million yuan, with an outstanding balance of 47,956.79 million yuan[192] - The company's guarantee for subsidiaries in the reporting period is 16,000 million yuan, with actual guarantee amount of 8,700 million yuan[190] - The company's guarantee for subsidiaries at the end of the reporting period is 27,400 million yuan, with actual guarantee balance of 12,700 million yuan[190] - The company's total shares increased by 29,066,700 shares, reaching 1,215,007,204 shares[197] - The company's unrestricted shares increased by 29,066,700 shares, reaching 1,106,373,960 shares[196] - The company's 2019 third-phase equity incentive plan resulted in an increase of 2,278,200 unrestricted shares[197] - The company's 2022 first-phase equity incentive plan resulted in an increase of 7,402,500 unrestricted shares[197] - The company's 2020 restricted stock incentive plan third phase resulted in an increase of 19,386,000 unrestricted shares[197] - 29 incentive recipients were granted 19.386 million shares in the third vesting period of the 2020 restricted stock incentive plan[199] - The total number of shares increased from 1,185,940,504 to 1,215,007,204 due to stock option exercises and restricted stock vesting[200] - Basic earnings per share increased by 8.25% year-over-year to 1.05 yuan per share[200] - Diluted earnings per share increased by 6.25% year-over-year to 1.02 yuan per share[200] - Net assets per share attributable to common shareholders increased by 16.65% year-end to 12.49 yuan per share[200] - 29,066,700 unrestricted shares were added due to stock option exercises and restricted stock vesting[200] Corporate Governance and Management - The company's expanding scale poses management risks, requiring higher standards in operational management, financial planning, and human resource allocation. The company plans to improve its governance structure and decision-making mechanisms to ensure smooth business development[8] - The company's profit distribution plan, approved by the board, includes a cash dividend of 0.5 yuan per 10 shares (tax included) based on a total of 1,215,007,204 shares[9] - The company's registered address was changed from Haidian District, Beijing to Dongcheng District, Beijing on August 9, 2023[13] - The company's annual report is disclosed on the websites of Securities Times, China Securities Journal, Shanghai Securities News, and Securities Daily, and is available at the company's office in Dongcheng District, Beijing[16] - The company has appointed Ernst & Young Hua Ming LLP as its auditor, with the office located in Haidian District, Beijing[17] - The company's board consists of 7 directors, including 3 independent directors, ensuring compliance with legal and regulatory standards for corporate governance[112] - The company's supervisory board, comprising 3 members, actively monitors financial and operational compliance, ensuring alignment with shareholder interests[114] - The company maintains complete independence in assets, personnel, finance, organization, and business operations from its controlling shareholder, Zhou Yahui[114] - The 2023 first extraordinary general meeting passed the "2023 Restricted Stock Incentive Plan (Draft)" and related proposals with an investor participation rate of 13.02%[115] - The 2023 second extraordinary general meeting approved the proposal to change the company's registered address and amend the Articles of Association with an investor participation rate of 13.00%[116] - The 2022 annual general meeting approved the 2022 annual report, financial report, and profit distribution plan with an investor participation rate of 13.07%[116] - The 2023 third extraordinary general meeting approved the proposal for the company's subsidiary to make external investments with an investor participation rate of 4.61%[116] - The 2023 fourth extraordinary general meeting approved the election of the fifth board of directors and supervisors with an investor participation rate of 15.83%[116] - The 2023 fifth extraordinary general meeting approved the proposal to change the registered capital and amend the Articles of Association with an investor participation rate of 13.55%[116] - The 2023 sixth extraordinary general meeting approved the transfer of equity and creditor's rights of the subsidiary Beijing Lvfan with an investor participation rate of 1.02%[116] - Vice President and Board Secretary Lv Jie's 60,000 restricted shares were forfeited due to abandonment of vesting[118] - Former Chairman Jin Tian's 400,000 stock options were canceled due to failure to exercise during the third vesting period[118] - The company's financial director, Zhang Wei, forfeited 80,000 restricted shares due to abandonment of vesting during the reporting period[119] - Chairman Jin Tian resigned from his position as chairman and director of the board due to personal reasons, but will continue to

昆仑万维科技股份有限公司 独立董事 2023 年度述职报告 各位股东及股东代表： 本人作为昆仑万维科技股份有限公司的独立董事，根据《公司法》、《证券法》、《上 市公司独立董事规则》、《深圳证券交易所上市公司自律监管指引第 2 号——创业板上市 公司规范运作》等法律法规及《公司章程》、公司《独立董事工作制度》的规定，在 2023 年的工作中，认真履行职责，充分发挥独立董事作用，不受公司大股东、实际控制人或 者其他与公司存在利害关系的单位或个人的影响， 维护中小股东的合法权益不受损害。 现将本人在 2023 年履行职责情况述职如下： | 时间 | 董事会 | 发表独立意见事项 | 意见 类型 | | --- | --- | --- | --- | | 2023.9.13 | 第五届董事会第四次会议 | 1、《关于转让北京绿钒的交易事项的独立 | 同意 | | | | 意见》 | | | 2023.11.21 | 第五届董事会第六次会议 | 1、《关于转让控股子公司北京绿钒股权及 债权暨关联交易事项的独立意见》 | 同意 | | 2023.12.7 | 第五届董事会第七次会议 | 1、《关于公司向银行申请授信并由控 ...

昆仑万维科技股份有限公司 2023 年度董事会工作报告 证券简称：昆仑万维 证券代码：300418 2023年，公司董事会依照《公司法》、《证券法》、《深圳证券交易所创业板股票上市 规则》、《深圳证券交易所上市公司自律监管指引第2号——创业板上市公司规范运作》、 《公司章程》、《董事会议事规则》等有关法律法规、规范性文件以及公司制度的规定， 切实履行股东大会赋予的董事会职责，勤勉尽责地开展各项工作，推动公司持续健康稳 定发展。现将公司董事会2023年工作情况汇报如下： 2024 年 4 月 1 （一）董事会会议召开情况 2023 年度，公司召开 17 次董事会会议，会议的召集与召开程序、出席会议人员的 资格、会议表决程序、表决结果和决议内容均符合法律法规和《公司章程》的规定。 具体情况如下： | 会议届次 | 召开日期 | 会议决议 | | --- | --- | --- | | 第四届董事会第三十八次 | 2023-01-09 | 审议通过《关于转让全资子公司股权暨关联交易的议 | | 会议 | | 案》 | | 第四届董事会第三十九次 | 2023-01-30 | 审议通过《关于全资子公司向银行申请授信并 ...

昆仑万维科技股份有限公司监事会 对公司 2023 年度内部控制自我评价报告的意见 根据财政部、证监会等部门联合发布的《企业内部控制基本规范》和《深 圳证券交易所上市公司自律监管指引第 2 号——创业板上市公司规范运作》等相 关法律、法规和规章制度的要求，昆仑万维科技股份有限公司（以下简称"公司"） 董事会对公司 2023 年度内部控制进行了自我评价，并出具了《2023 年度内部控 制自我评价报告》。公司监事会在对公司内部控制制度的建设和运行情况进行详 细调查和评估后，审阅了公司《2023 年度内部控制自我评价报告》，现发表意见 如下： 我们认为，公司已建立了较为完善的法人治理结构，内部控制体系较为健 全，能够保障公司管理和发展的规范运行，公司内部控制体系的建立对公司经营 管理的各个环节起到了较好的风险防范和控制作用，保证了经营管理的合法、合 规与资产安全，确保了财务报告及相关信息的真实完整，提高了经营效率与效果， 促进了公司发展战略的稳步实现。 内部控制的自我评价报告全面、真实、准确、客观地反映了公司内部控制制 度的建设及运行情况。监事会对公司 2023 年度内部控制自我评价报告没有异议。 昆仑万维科技股份有 ...

昆仑万维科技股份有限公司 2023 年度社会责任报告 证券简称：昆仑万维 证券代码：300418 2024 年 4 月 1 报告说明 一、重要提示 本公司董事会及全体董事保证本报告内容不存在任何虚假记载、误导性陈述或重大 遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 二、编制依据 本报告书是公司根据《深圳证券交易所上市公司社会责任指引》的规定，结合本公 司 2023 年度在履行社会责任方面的具体情况编制的，从社会责任各种实践角度诠释了 公司对企业社会责任的认知与理解。 上市公司合并范围。 六、数据来源 报告中的经营数据来源于昆仑万维科技股份有限公司审计报告，其他数据来源于公 司内部文件和信息统计系统。 七、指代说明 为了便于表述及方便阅读，在本报告中，昆仑万维科技股份有限公司简称"公司" 或"昆仑万维"。 八、报告获取 三、时间范围 本报告期间为 2023 年 1 月 1 日至 2023 年 12 月 31 日，部分内容适度向前延伸。 四、发布周期 本报告为年度报告。 五、报告范围 本报告以网络电子版形式发布，可在巨潮资讯网（www.cninfo.com.cn）查阅获取。 2 目 录 | 第一 ...

昆仑万维科技股份有限公司 内部控制鉴证报告 信会师报字[2024]第 ZB10434 号 昆仑万维董事会的责任是按照《企业内部控制基本规范》的相关 规定建立健全和有效实施内部控制，评价其有效性，并如实披露内部 控制评价报告。 二、注册会计师的责任 我们的责任是在实施鉴证工作的基础上对财务报告内部控制的 有效性发表鉴证结论。 三、工作概述 我们按照《中国注册会计师其他鉴证业务准则第 3101 号——历 史财务信息审计或审阅以外的鉴证业务》的规定执行了鉴证业务。该 准则要求我们遵守中国注册会计师职业道德规范，计划和实施鉴证工 作，以对昆仑万维是否于 2023 年 12 月 31 日在所有重大方面按照《企 业内部控制基本规范》的相关规定保持有效的财务报告内部控制获取 合理保证。在执行鉴证工作过程中，我们实施了包括了解、测试和评 价内部控制的有效性以及我们认为必要的其他程序。我们相信，我们 的鉴证工作为发表鉴证结论提供了合理的基础。 内部控制鉴证报告 信会师报字[2024]第 ZB10434 号 昆仑万维科技股份有限公司全体股东： 我们接受委托，对昆仑万维科技股份有限公司（以下简称"昆仑 万维"）董事会就 2023 ...