Core Viewpoint - The company has not yet launched AI digital human products but possesses the capability to support key requirements in this area, such as rendering, modeling, natural language recognition, and voice synthesis [1]. Group 1 - The company responded to an investor inquiry regarding its involvement in AI digital human products, indicating that it currently does not have direct offerings in this space [1]. - The company emphasizes its ability to provide core support for AI digital human applications, highlighting its competencies in critical areas [1]. - The company notes that there are currently no substantial applications in the AI digital human field, but it will continue to monitor industry developments and disclose any business progress as required [1].

Core Viewpoint - The company, Lianang Technology, is currently in an accelerated phase of its computing power business, with a continuous increase in the proportion of related business activities [1] Group 1: Business Operations - The computing power business is experiencing rapid implementation and growth [1] - The company acknowledges that the classification of concepts across different platforms may vary based on different dimensions [1] Group 2: Market Influences - Stock price fluctuations are influenced by multiple factors, including macroeconomic conditions, industry volatility, and market sentiment [1] - As of now, the company has no significant events that should have been disclosed but have not been [1]

Core Viewpoint - The company is actively involved in the construction of a smart vehicle service platform, focusing on various aspects such as electronic identification issuance, data collection points, backend system development, and demonstration center establishment [2] Group 1: Company Initiatives - The company is engaged in the construction of electronic identification issuance points, data collection points, backend system platforms, and demonstration centers as part of its smart vehicle service platform project [2] - The smart traffic operation monitoring and analysis system utilizes data from electronic monitoring devices, integrating heterogeneous data resources into a big data processing platform for in-depth analysis and visualization [2] - The system aims to provide comprehensive monitoring and management of urban traffic by analyzing real-time, abnormal, and predictive traffic conditions, thereby supporting strategy formulation and action deployment [2]

Core Insights - Lian Technology has successfully registered its subsidiary, Lian Cloud Data (Sichuan) Co., Ltd., as a national subsidy computing power supply unit, enabling it to provide computing power services with the qualification to issue computing power vouchers to eligible users [2] Group 1 - The company has confirmed its status as a national subsidy computing power supply unit [2] - This qualification allows the company to offer computing power services to users who meet policy requirements [2]

Core Viewpoint - The company achieved a revenue of 376 million yuan in the first half of 2025, representing a year-on-year growth of 23.41% [2] Group 1 - The company responded to investor inquiries on October 9 regarding its financial performance [2] - The revenue figure of 376 million yuan is a significant indicator of the company's growth trajectory [2] - The company encourages stakeholders to monitor its periodic reports and announcements for detailed operational updates [2]

Core Insights - The communication services sector experienced a 1.1% increase on October 9, with Chaoxun Communication leading the gains [1] - The Shanghai Composite Index closed at 3933.97, up 1.32%, while the Shenzhen Component Index closed at 13725.56, up 1.47% [1] Sector Performance - Chaoxun Communication (603322) closed at 58.18, with a rise of 7.94% and a trading volume of 291,500 shares, totaling a transaction value of 1.647 billion yuan [1] - Yuandao Communication (301139) saw a 4.70% increase, closing at 21.84 with a trading volume of 121,800 shares, amounting to 265 million yuan [1] - Lian Technology (300603) increased by 2.84%, closing at 11.58 with a trading volume of 223,900 shares, totaling 259 million yuan [1] - Other notable performers include Sanwei Communication (002115) with a 2.05% increase and a transaction value of 1.724 billion yuan, and Runhua Branch (300442) with a 1.74% increase and a transaction value of 1.716 billion yuan [1] Fund Flow Analysis - The communication services sector saw a net outflow of 376 million yuan from institutional investors, while retail investors contributed a net inflow of 264 million yuan [2] - Notable net inflows from retail investors were observed in Dream Network Technology (002123) with 20.17 million yuan and China Mobile (600941) with 19.20 million yuan [3] - Conversely, China Unicom (600050) experienced a net outflow of 73.05 million yuan from institutional investors [3]

Group 1 - The core point of the article is that Lian Technology (300603.SZ) has successfully registered its subsidiary, Lian Cloud Data (Sichuan) Co., Ltd., as a national subsidy computing power supply unit, enabling it to provide computing power services with the qualification to issue computing power vouchers to eligible users [1] Group 2 - The company is now recognized as a national subsidy computing power supply unit, which enhances its service capabilities in the computing power sector [1] - This registration allows the company to cater to users who meet policy requirements, potentially expanding its customer base and revenue streams [1] - The move aligns with national policies aimed at promoting the development of computing power services in the industry [1]

Market Overview - On September 25, the communication services sector declined by 0.2%, with Li'an Technology leading the losses [1] - The Shanghai Composite Index closed at 3853.3, down 0.01%, while the Shenzhen Component Index closed at 13445.9, up 0.67% [1] Stock Performance - Notable gainers in the communication services sector included: - Online Offline (300959) with a closing price of 83.88, up 8.51% on a trading volume of 145,600 shares and a turnover of 1.215 billion yuan [1] - Runze Technology (300442) closed at 55.92, up 3.90% with a trading volume of 541,600 shares and a turnover of 304.7 million yuan [1] - Pingzhi Information (300571) closed at 36.61, up 2.84% with a trading volume of 158,400 shares and a turnover of 589 million yuan [1] - Major decliners included: - Li'an Technology (300603) closed at 11.80, down 4.68% with a trading volume of 363,600 shares and a turnover of 433 million yuan [2] - Yuandao Communication (301139) closed at 21.13, down 3.56% with a trading volume of 116,700 shares and a turnover of 250 million yuan [2] - Century Dingli (300050) closed at 6.36, down 3.05% with a trading volume of 231,500 shares and a turnover of 149 million yuan [2] Capital Flow - The communication services sector experienced a net outflow of 1.135 billion yuan from institutional investors, while retail investors saw a net inflow of 1.079 billion yuan [2][3] - Key stocks with significant capital flow included: - Guanghuan New Network (300383) with a net inflow of 18.1 million yuan from institutional investors [3] - Runze Technology (300442) saw a net inflow of 9.4 million yuan from retail investors [3] - ST Tongmai (603559) had a net inflow of 731,400 yuan from institutional investors [3]

Core Insights - The company, Lianang Technology, reported a total of 45,235 accounts as of September 19, 2025 [1] Company Summary - Lianang Technology is actively engaging with investors through interactive platforms, providing updates on its account numbers [1]

Core Viewpoint - The company, Lian Technology, stated that the provision for asset impairment is based on the principle of accounting prudence, accurately reflecting its financial status and complying with accounting standards and relevant policy requirements [1] Group 1 - The company emphasized that the final data will be based on the financial data audited by the annual auditing firm [1]