| 证券代码：300454 | 证券简称：深信服 | 公告编号：2025-050 | | --- | --- | --- | | 债券代码：123210 | 债券简称：信服转债 | | 深信服科技股份有限公司 关于回购股份进展情况的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 深信服科技股份有限公司（以下简称"公司"）于 2025 年 1 月 15 日召开第 三届董事会第二十六次会议，审议通过了《关于回购公司股份方案的议案》，同 意公司使用自有资金以集中竞价交易方式回购公司部分社会公众股份（以下简称 "本次回购"），用于实施员工持股计划或股权激励计划。本次回购的资金总额 不低于人民币 1 亿元且不超过人民币 2 亿元（均含本数），回购价格不超过人民 币 80 元/股（含本数），具体回购股份的数量及占公司总股本的比例以回购期届 满或回购完毕时公司实际回购的股份数量和占公司届时总股本的比例为准。本次 回购实施期限为自公司董事会审议通过本次回购股份方案之日起不超过 12 个月。 具体内容详见公司在指定信息披露媒体巨潮资讯网（www.cninfo.com.cn ...

金十图示：2025年08月01日（周五）中国科技互联网公司市值排名TOP 50一览 | 排名 | | 公司 | 市值(亿美元) | 排名变化 | | --- | --- | --- | --- | --- | | 1 | | 台积电 | 12531.68 | | | 2 | | 腾讯控股 | 6422.38 | | | 3 | 12 | 阿里巴巴 | 2877.45 | | | 4 | | 小米集团-W | 1757.35 | | | 5 | | 拼多多 | 1610.59 | | | 6 | 美团 | 美团-W | 945.76 | | | 7 | 網易 | 网易 | 825.06 | | | 8 | | 中芯国际 | 523.46 | | | --- | --- | --- | --- | --- | | 9 | | 东方财富 | 512.49 | | | 10 | | 京东 | 453.93 | | | II | 8 | 快手-W | 416.74 | | | 12 | | 腾讯音乐 | 325.12 | | | 13 | | 百度 CC | 302.07 | | | 14 | | 理想汽车 | 279 ...

截至2025年8月1日 09:51，中证软件服务指数上涨0.29%，成分股深信服上涨5.32%，卫宁健康上涨3.31%，中国软件上涨1.90%，东华软件上涨1.73%，同花 顺上涨1.55%。软件ETF(159852)上涨0.35%。 流动性方面，软件ETF盘中换手2.51%，成交1.29亿元。拉长时间看，截至7月31日，软件ETF近1周日均成交4.07亿元，排名可比基金第一。 规模方面，软件ETF近1周规模增长1618.51万元，实现显著增长，新增规模位居可比基金第一。资金流入方面，拉长时间看，软件ETF近5个交易日内有4日 资金净流入，合计"吸金"1.48亿元。 截至7月31日，软件ETF近3年净值上涨8.43%。从收益能力看，截至2025年7月31日，软件ETF自成立以来，最高单月回报为39.35%，最长连涨月数为3个 月，最长连涨涨幅为69.40%，上涨月份平均收益率为9.75%。 7月31日国务院常务会议召开，会议审议通过《关于深入实施"人工智能+"行动的意见》。会议指出，要深入实施"人工智能+"行动，大力推进人工智能规模 化商业化应用，充分发挥我国产业体系完备、市场规模大、应用场景丰富等优势，推动 ...

Group 1 - The technology sector in the US saw a significant rise, leading to a new high for the Nasdaq index [1] - The AI industry chain in the A-share market performed exceptionally well, with AI ETF (515070) holdings such as Youyuan Network (600588) rising by 8.05%, Deepin Technology (300454) by 6.75%, and others showing similar gains [1] - The AI ETF (515070) accumulated over a 10% increase in July [1] Group 2 - The State Council meeting approved the "Artificial Intelligence +" action plan, emphasizing the acceleration of AI technology iteration and the promotion of large-scale commercial applications [1] - The plan aims to leverage China's complete industrial system, large market scale, and rich application scenarios to enhance the integration of AI in various economic and social development areas [1] Group 3 - CITIC Securities believes that the next-generation large models will be a key variable determining the prospects of the AI industry [2] - The research framework for the next-generation large models will analyze aspects such as model foundation, performance, ecosystem, and industry, with expectations of achieving 2-3 times the parameter scale and nearly 10 times the intelligence level [2] - Breakthroughs in logical reasoning, native multimodal capabilities, and memory systems in next-generation large models will accelerate the application in high-value complex industry scenarios [2]

1. Report Industry Investment Rating No information provided regarding the industry investment rating in the given report. 2. Core Viewpoints of the Report - With the expansion of global AI demand and the capital expenditure on computing power by North American cloud - computing giants, the domestic computing hardware supply chain is expected to continue its high - growth trend. Domestic large - models are predicted to iterate rapidly in the second half of the year, and the AIDC scale is expected to further expand. The pan - AI sector is a relatively scarce high - growth area, and investment opportunities in this sector are recommended to be focused on in Q3 [1][10]. - Currently, convertible bond valuations are at a relatively high historical level due to the continuous inflow of fixed - income funds and the recovery of stock market expectations. The idea of achieving excess returns in the high - valuation range is to bet on the elasticity of the underlying stocks of convertible bonds. When the capital situation of convertible bonds is stable and the stock market expectations do not change significantly, the valuation of the convertible bond market is unlikely to shrink actively. Buying convertible bonds corresponding to high - elasticity underlying stocks (such as those in the AI sector) at a high - risk preference position can easily generate excess returns during an upward wave [1][10]. 3. Summary by Relevant Catalog 3.1 Overall Logic and Layout Ideas - The domestic computing hardware supply chain is expected to maintain high growth due to global AI demand expansion and North American cloud - computing giants' capital expenditure on computing power. Domestic large - models will iterate quickly in the second half, and AIDC will expand. The pan - AI sector is a high - growth area, and Q3 investment opportunities are recommended [1][10]. - For convertible bond investment, with high valuations, the strategy is to invest in convertible bonds of high - elasticity underlying stocks to gain excess returns in an upward market [1][10]. 3.2 Individual Bond Selection 3.2.1 Unex Electronics/Unex Convertible Bond - Unex is a global leader in electronic design and manufacturing services, leading in the SiP module field. It has 30 manufacturing service sites across four continents, providing comprehensive services to global brand customers [16]. - In 2024, its revenue was 60.691 billion yuan, almost flat year - on - year. Cloud and storage product revenue increased by 13.35% due to AI - driven server demand [16]. - In 2025, it aims to accelerate business in AI accelerator cards. It is also developing power modules and motherboards for AI servers. It participates in providing Wi - Fi SiP modules for a North American AI glasses customer's third - generation product and has obtained an order for N - in - one motherboard modules, expected to bring significant revenue in 2026 [2][22][24]. 3.2.2 Huamao Technology/Huamao Convertible Bond - Huamao is a leader in the automotive passive safety field, with products covering airbags, seat belts, etc. In 2024, it released an action plan, strengthening its automotive parts business and entering the semiconductor and computing manufacturing fields [25]. - In 2024, its revenue was 2.213 billion yuan, up 7.67% year - on - year. Net profit was 277 million yuan, up 14.64%. It plans to expand in the semiconductor and computing manufacturing sectors by increasing investment and integrating the supply chain of Fuchuang Youyue [25][30]. - Fuchuang Youyue provides one - stop electronic manufacturing services, especially in high - speed optical module manufacturing for global computing industry chains. It has shipped to 7 of the top 20 global optical module manufacturers in 2024, with over 3.5 million 800G optical module PCBA shipments [31][32]. 3.2.3 Bowei Alloy/Bo 23 Convertible Bond - Bowei's main businesses are new materials and international new energy. Its new materials are high - performance non - ferrous alloy products, widely used in AI, 6G, etc. In 2024, its alloy strip business sales increased by 42.23% and net profit increased by 171.12% [33]. - Its high - speed connector, shielding, and lead - frame materials are crucial for computing servers and data centers. Products like boway19920 and boway70318 meet the requirements of high - computing servers [35]. 3.2.4 Sangfor Technologies/Sangfor Convertible Bond - Sangfor focuses on enterprise - level network security, cloud computing, and IT infrastructure. Its network security business uses cloud security and AI for active monitoring and protection [36]. - It has been developing cloud computing since 2012, launching multiple products. In 2024, it released the AICP platform for large - model development, aiming to lower the threshold of using AI technology [37]. 3.2.5 Minglida/Mingli Convertible Bond - Minglida's products are mainly used in photovoltaic, energy storage, new - energy vehicles, and security. In 2024, its sales declined due to the inventory reduction in the photovoltaic and energy - storage industries. However, demand is recovering in 2025 [39]. - It has made breakthroughs in the new - energy vehicle business with leading global customers. It plans to expand in the robot and liquid - cooling industries and expects increased revenue from server and automotive liquid - cooling [39][43][44].

东方证券研报指出，AI本地化部署需求兴起，深信服有望充分受益。公司对一朵云解决方案面向AI进 行全新升级，为用户打造更匹配大模型场景的智算承载、应用构建的AI平台。其中，AICP高性能算力 平台在多实例、高并发场景下，性能相比传统Ollama架构方案提升5-10倍，可广泛适配包括DeepSeek在 内的最新大模型。此外，公司的AI应用创新平台，助力用户快速构建大模型应用，让AI应用的开发运 营更加简单。公司的全栈化能力为大模型本地化部署提供了"高性能、高安全、高价值"的一站式解决方 案，随着国产化替代与AI需求的持续增长，公司有望在各行业智能化转型的过程中不断受益。根据可 比公司25年的PS水平，给予公司25年6.10倍PS，对应目标价为119.00元，维持"买入"评级。 ...

截至2025年7月31日 14点21分，中证信息技术应用创新产业指数强势上涨1.74%，成分股用友网络上涨 10.03%，三六零上涨7.05%，深信服上涨6.94%，亚信安全（688225），泛微网络等个股跟涨。信创 ETF（562570）上涨1.59%，最新价报1.34元。拉长时间看，截至2025年7月30日，信创ETF（562570） 近1周累计上涨2.24%。流动性方面，信创ETF盘中换手15.81%，成交1.05亿元，市场交投活跃。规模方 面，信创ETF（562570）近3月规模增长2.29亿元，实现显著增长，份额方面，信创ETF（562570）近3 月份额增长1.59亿份，实现显著增长。 甬兴证券认为，随着AI发展进入深水区以及国内对AI产业的高度重视，AI相关产业链需求有望持续增 加，带动相关产业链不断发展，如算力、PCB、铜缆、光模块等，景气度持续提升，看好相关投资机 会。息技术应用创新产业指数。该指数聚焦自主可控头部公司，覆盖人工智能、数据算力、工业软件、 信息安全等前沿科创产业。信创ETF（562570）为跟踪该指数规模最大的ETF。 消息面上，近期，全球知名的大模型API三方聚合平台Ope ...

31日早盘，AI产业链全线沸腾，光模块等AI硬件带动AI应用大涨，创业板人工智能涨幅持续扩大超 3%。AI算力硬件方面，光模块龙头"易中天"（新易盛、中际旭创、天孚通信）集体新高；AI应用方 面，易点天下20CM涨停，深信服大涨超7%，拓尔思涨超5%。 热门ETF方面，同标的指数规模最大、流动性突出的创业板人工智能ETF（159363）场内涨幅扩大，盘 中涨幅摸高3.73%，价格持续推高触及0.64元，放量成交超2.35亿元。 算力硬件方面，英伟达昨晚股价再创历史新高！国盛证券认为，A股算力产业链是稀缺的真成长板块。 未来随着AI商业化的持续落地，算力产业趋势有望成为上一轮云计算的黄金十年的强化版，A股AI主线 中的优秀企业估值体系有望向成长股切换。海外算力复苏趋势已经较为显著，坚定推荐算力产业链相关 企业如光模块龙头、光器件等。 AI应用方面，消息面上，据不完全统计，大模型应用的个人用户注册总数已超过31亿，API调用用户总 数超过1.59亿。东方证券表示，看好下半年垂类AI产品用户增长和商业化闭环提速，考虑到目前海外AI 付费习惯和意愿更好，认为应重视国内有海外AI应用布局的公司，商业化起量或超预期。 把 ...

| 36 | | 阿里巴巴 | 2799.92 | | | --- | --- | --- | --- | --- | | 4 | | 小米集团-W | 1763.96 | | | 5 | | 拼多多 | 1603.06 | | | | 網易 | 网易 | 825.18 | 11 | | 7 | | 东方财富 | 520.85 | II | | 8 | | 中芯国际 | 516.85 | | | --- | --- | --- | --- | --- | | 9 | | 京东 | 457.68 | | | 10 | | 快手-W | 409.34 | | | II | | 腾讯音乐 | 326.82 | | | 12 | Bal Car | 目度 | 295.44 | | | 13 | | 理想汽车 | 283.13 | | | 14 | | 贝壳 | 221.36 | | | 15 | | 同花顺 | 218.78 | | | 16 | | 小鹏汽车 | 171.87 | | | 17 | | 中通快递 | 159.79 | | | 18 | | 科大讯飞 | 157.13 | | | 19 | | 蔚来 ...

南财投研通数据显示，7月29日，券商给予上市公司目标价共19次，按最新收盘价计算，目标价涨幅排 名居前的公司有科沃斯、英科医疗、瑞纳智能，目标价涨幅分别为46.04%、39.79%、38.85%，分别属 于小家电、医疗器械、通用设备行业。 | | | | 07月29日目标价涨幅排名 | | | | --- | --- | --- | --- | --- | --- | | 证券代码 | 证券名称 | 机构 | 最新评级 | 管理目標 (元) | 目标涨幅 (%) | | 603486 | 科沃斯 | 中信证券 | ポソ | 112.00 | 46.04 | | 300677 | 英科医疗 | 中信证券 | ポゾ | 45.00 | 39.79 | | 301129 | 瑞纳智能 | 国泰海通业芬 | 增持 | 35.63 | 38.85 | | 300454 | 深信服 | 中国国际金融 | 跑赢行业 | 140.00 | 36.80 | | 600483 | 福能股份 | 国投证券 | 买入 | 12.67 | 33.79 | | 002225 | 濮耐股份 | 中信证券 | 买人 | 9.00 | 33. ...