Investment Rating - The report maintains a "Recommended" investment rating for the computer industry [2][5][17] Core Insights - The report highlights the acceleration of the domestic AI innovation cycle, driven by recent IPO activities of AI companies and strong policy support for AI integration with manufacturing [4][15][17] - The integration of AI with manufacturing is seen as a key driver for enhancing global competitiveness, with significant growth expected in the IT market for manufacturing in China [14] - The report emphasizes the importance of focusing on leading companies with AI technology capabilities and practical applications in industrial vision, smart equipment, and industrial internet platforms [14][17] Summary by Sections Recent Developments - The National Industrial and Information Technology Conference emphasized the importance of AI in manufacturing and set key tasks for 2026, including the promotion of AI+manufacturing initiatives [4][12][13] - IDC predicts that by 2027, the overall IT market investment in China's manufacturing sector will reach 1,718.99 billion RMB, with AI+industrial software market share expected to grow from 9% in 2024 to 22% by 2028 [14] Company Highlights - AI unicorns such as Zhipu and MiniMax are advancing their IPO processes, with Zhipu being the first among the "Big Six" AI models to submit its prospectus [15] - Zhipu reported a revenue of 190 million RMB in the first half of 2025, with a doubling of revenue for three consecutive years [15] - MiniMax has over 2.12 billion personal users and 130,000 enterprise clients globally, with a revenue growth of over 170% year-on-year for the first nine months of 2025 [15] Investment Recommendations - The report suggests focusing on companies in the following categories: 1. Large models: iFlytek (002230.SZ), Tuorisi (300229.SZ), Wanxing Technology (300624.SZ) 2. AI+Manufacturing: Dingjie Zhizhi (300378.SZ), Hand Information (300170.SZ), Saiyi Information (300687.SZ), Nengke Technology (603859.SH) [5][17]

本公司及董事会全体成员保证公告内容与信息披露义务人提供的信息一致。 广州赛意信息科技股份有限公司（以下简称"公司"或"本公司"）于 2025 年 8 月 30 日在巨潮资讯网披露了《关于共同实际控制人股份减持计划的预披露 公告》（公告编号：2025-078）。公司控股股东及实际控制人张成康、刘伟超、 刘国华、欧阳湘英、曹金乔计划在 2025 年 9 月 22 日至 2025 年 12 月 21 日期间 以集中竞价及大宗交易的方式合计减持公司股份不超过 12,250,000 股，占公司 总股本的 3.00%。 截至目前，股份减持期限已经届满。根据《上市公司股东减持股份管理暂行 办法》及《深圳证券交易所上市公司自律监管指引第 18 号——股东及董事、高 级管理人员减持股份》等有关规定，现将有关情况公告如下： 一、股东减持情况 1、减持股份来源：公司首次公开发行前已发行的股份（含该等股份因资本 公积金转增股本而相应增加的股份）。 | 股东名称 | 减持方式 | 减持期间 | 减持股数 | 减持均价 | 占公司总 | | --- | --- | --- | --- | --- | --- | | | | | （股） ...

赛意信息公告称，公司控股股东及实际控制人张成康、刘伟超、刘国华、欧阳湘英、曹金乔于2025年9 月22日至12月21日期间减持股份。原计划合计减持不超1225万股，占总股本3%；实际合计减持998.18 万股，占比2.4441%，减持均价20.2894元/股。减持后，五人合计持股比例从28.7039%降至26.2598%。 本次减持符合规定，不会导致公司控制权变更，不影响持续经营。 ...

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].

12月17日，赛意信息大宗交易成交87.8万股，成交额1629.22万元，占当日总成交额的7.28%，成交均价 18.56元，较市场收盘价22.22元折价16.49%，其中最高成交价19.71元，最低成交价18.2元。 | 交易日期 | 证券代码 | 证券简称 | 成交价格 | 成交量 | 成交会额 买方营业部 | 卖方营业部 | | --- | --- | --- | --- | --- | --- | --- | | | | | (元) | (万股/万份) | (万元) | | | 2025-12-17 | 300687 | 賽意信息 | 19.71 | 10.35 | 204.00 机构专用 | 中信证券华南股份 | | | | | | | | 有限公司广东分公 | | | | | | | | Ta | | 2025-12-17 | 300687 | 赛意信息 | 18.20 | 17.10 | 311.22 国投证券股份有限 | 中信证券华南股份 | | | | | | | 公司广州珠江东路 | 有限公司广东分公 | | | | | | | 证券营业部 | TI | | 2025-12-17 | 30 ...

格隆汇12月16日丨赛意信息(300687.SZ)公布，公司控股股东、实际控制人张成康、刘伟超、欧阳湘 英、曹金乔于2025年12月11日至2025年12月15日期间通过大宗交易、集中竞价的方式减持公司股份 483.79万股，占公司总股本的1.1846%，公司控股股东、实际控制人及其一致行动人张成康、刘伟超、 刘国华、欧阳湘英、曹金乔、玄元私募基金投资管理（广东）有限公司-玄元科新213号私募证券投资基 金合计持股比例由30.0000%减少至28.8154%，股份变动触及1%的整数倍。 ...

关于控股股东、实际控制人及其一致行动人减持股份变动触及 1%整数倍的公告 证券代码：300687 证券简称：赛意信息 公告编号：2025-105 广州赛意信息科技股份有限公司 关于控股股东、实际控制人及其一致行动人减持股份变动 触及 1%整数倍的公告 关于控股股东、实际控制人及其一致行动人减持股份变动触及 1%整数倍的公告 证券代码：300687 证券简称：赛意信息 公告编号：2025-105 | 权益变动 | 2025 年 12 月 11 日-2025 年 12 月 15 日 | | | | | | --- | --- | --- | --- | --- | --- | | 时间 | | | | | | | | | | 公司控股股东及实际控制人张成康、刘伟超、刘国华、欧阳湘英、曹金乔因自身资金 | | | | | 需求，拟通过集中竞价及大宗交易的方式合计减持公司股份 | | | 12,250,000 | 股，占公司总股 | | | 本的 3%。具体内容详见公司于 2025 年 8 月 | 30 | | 日披露在巨潮资讯网（www.cninfo.com.cn） | | | | 的《关于共同实际控制人股份减持计 ...

赛意信息公告，公司控股股东、实际控制人张成康、刘伟超、欧阳湘英、曹金乔于2025年12月11日至 2025年12月15日期间通过大宗交易、集中竞价的方式减持公司股份483.79万股，占公司总股本的 1.1846%。公司控股股东、实际控制人及其一致行动人合计持股比例由30.0000%减少至28.8154%，股份 变动触及1%的整数倍。 ...

12月16日，赛意信息大宗交易成交114.4万股，成交额2133.12万元，占当日总成交额的8.92%，成交均 价18.65元，较市场收盘价21.9元折价14.86%，其中最高成交价19.71元，最低成交价18.2元。 | 交易日期 | 证券代码 | 证券简称 | 成交价格 | 成交量 | 成交舍额 买方营业部 | | 卖方营业部 | | --- | --- | --- | --- | --- | --- | --- | --- | | | | | (元) | (万股/万份) | (万元) | | | | 2025-12-16 | 300687 | 赛意信息 | 18.20 | 17.10 | 311.22 招商证券股份有限 | | 中信证券华南股份 | | | | | | | 公司上海梅花路证 | | 有限公司广东分公 | | | | | | | 券营业部 | | Ta | | 2025-12-16 | 300687 | 赛意信息 | 18.20 | 27.00 | 491.40 国投证券股份有限 | | 中信证券华南股份 | | | | | | | 公司广州珠江东路 | | 有限公司广东分公 | | | ...

Core Insights - The company, Saiyi Information, has received national approval for its project on intelligent scheduling software, marking a significant recognition in the field of intelligent manufacturing [1] - The project aligns with national strategies for digital transformation in manufacturing and aims to address industry pain points such as design change response delays and production execution disconnection [2] Group 1 - The project is set to run from November 2025 to December 2029, indicating a long-term commitment to advancing core technologies in intelligent manufacturing [1] - The company has been recognized as a leader in the MES market for the fourth consecutive year, achieving top market shares in various sectors including photovoltaic and home appliances [2] - The company has established a strong customer base, serving over 3,000 enterprises, with a project delivery success rate exceeding 98% for three consecutive years [3] Group 2 - The company is positioned as a key player in the integration of AI technologies within manufacturing scenarios, utilizing a comprehensive self-developed system for AI applications [3] - The company has been acknowledged as a leader in the industrial AI sector, which supports its ongoing development of next-generation intelligent solutions [2] - The company aims to deepen its penetration in key industries, assisting more manufacturing enterprises in their digital transformation and intelligent upgrades [3]