Group 1: Software ETF Performance - The Software ETF has a turnover rate of 1.57% with a transaction volume of 49.91 million yuan, and its average daily transaction volume over the past year is 161 million yuan, ranking first among comparable funds [1] - Over the past two weeks, the Software ETF has seen a scale increase of 1.77 million yuan, achieving significant growth and ranking first in new scale among comparable funds [1] - In the last ten trading days, the Software ETF experienced net inflows on six days, totaling 240 million yuan [1] - The latest margin buying amount for the Software ETF reached 8.39 million yuan, with a margin balance of 112 million yuan [1] - As of July 9, the Software ETF's net value has increased by 55.55% over the past year, ranking 141 out of 2907 in the index equity fund category, placing it in the top 4.85% [1] - The highest monthly return since inception for the Software ETF is 39.35%, with the longest consecutive monthly increase being three months and the longest increase percentage being 69.40% [1] Group 2: Industry Outlook and Key Stocks - Citic Securities suggests focusing on "AI mainline" opportunities, particularly in AI Agents and computing power sectors, including management/office software, medical IT, computing power, servers, and cloud vendors, while also considering structural opportunities in stablecoins, trusted computing, low-altitude economy, and robotics [2] - As of June 30, 2025, the top ten weighted stocks in the CSI Software Service Index include iFlytek, Kingsoft Office, Tonghuashun, Hang Seng Electronics, Runhe Software, 360, Softcom Power, Tuowei Information, Guiding Compass, and China Software, collectively accounting for 60.56% of the index [2] Group 3: Stock Performance - The stock performance of key companies shows slight declines for iFlytek (-0.15%), Kingsoft Office (-0.67%), and Hang Seng Electronics (-0.59%), while Tonghuashun saw a slight increase of 1.07% [4]

Group 1 - The core viewpoint of the article highlights the participation of Softstone Technology in the 2025 Global Digital Economy Conference, emphasizing the company's role in the digital economy's development and its strategies for international cooperation [1][2] - Liu Tianwen, the Chairman and CEO of Softstone Technology, delivered a keynote speech on the achievements and new opportunities in China's digital economy over the past 20 years, advocating for technology and industry innovation to tackle complex challenges [1] - The company reported a steady revenue growth, surpassing 30 billion yuan, and established a presence in four major overseas markets, serving over 230 Fortune 500 and Chinese 500 companies [1] Group 2 - Softstone Technology showcased its overseas brand iSoftStone Digital and the "Beijing Brand" under Softstone Huafang during the conference, highlighting its full-stack intelligent products and services [2] - The company presented its "Four Transformations" strategy and six major product and service capabilities in the international exchange and cooperation experience area, aiming to promote project cooperation [2]

Group 1: ETF Performance and Liquidity - The software ETF had an intraday turnover of 1.18%, with a transaction volume of 37.91 million yuan [1] - As of July 2, the software ETF's average daily trading volume over the past week was 206 million yuan, ranking first among comparable funds [1] - The software ETF's scale increased by 17.07 million yuan in the past week, also ranking first among comparable funds [1] - The latest share count for the software ETF reached 4.063 billion shares, a one-year high, placing it first among comparable funds [1] - Over the past three days, the software ETF experienced continuous net inflows, with a maximum single-day net inflow of 48.96 million yuan, totaling 113 million yuan [1] - The financing net purchase amount for the software ETF on the previous trading day was 11.37 million yuan, with the latest financing balance at 126 million yuan [1] Group 2: Performance Metrics - As of July 2, the software ETF's net value increased by 45.17% over the past year, ranking 219 out of 2897 index equity funds, placing it in the top 7.56% [1] - The highest monthly return since inception for the software ETF was 39.35%, with the longest consecutive monthly gains being three months and the longest cumulative gain being 69.40% [1] - The average return during the rising months was 9.98% [1] Group 3: AI and Software Industry Insights - Generative AI is transforming the business model of the computer and software development industry from a traditional "licensed software model" to a "results-based service model," with AI applications becoming labor substitutes [1] - The overseas software giants have a first-mover advantage in AI application development, directly collaborating with leading large model manufacturers, while China's general large models are still in a catch-up phase [2] - The manufacturing sector is a stronghold for China, providing quality scenarios for AI technology implementation, with significant potential for AI applications in manufacturing [2] - The rapid development of C-end AIGC applications in China is led by major tech companies with large model capabilities, resulting in superior user experiences [2] - 82% of enterprises plan to integrate AI Agents into their workflows over the next three years, indicating a strong demand for enterprise service software [2] Group 4: Top Weighted Stocks - As of June 30, 2025, the top ten weighted stocks in the CSI Software Service Index include iFLYTEK, Kingsoft Office, Tonghuashun, Hang Seng Electronics, Runhe Software, 360, Softcom Power, Tuo Wei Information, Compass, and China Software, collectively accounting for 60.56% of the index [2]

Group 1 - The core viewpoint of the news is the recent adjustments in index sample stocks by major exchanges, which aim to enhance the representation and investment value of indices, particularly in the context of increasing long-term capital inflows into the market [1][2] - The adjustments have led to a significant increase in the scale of ETFs linked to major indices, with an estimated total scale of approximately 1.7 trillion yuan by April 2025, representing a nearly fourfold increase since the end of 2021 [1] - The adjustments are expected to optimize index representation, trigger structural capital flows, and potentially have a positive impact on the stock prices of newly included stocks, especially those in mainstream indices [1][3] Group 2 - The recent index adjustments have increased the weight of technology stocks, reflecting a trend towards high-tech and advanced manufacturing in listed companies [2] - The adjustments in the CSI 300 index included an increase of 2 technology stocks, raising its weight by 0.18%, while the CSI 500 index saw an increase of 12 technology stocks, raising its weight by 1.82% [2] - The adjustments are likely to enhance the investment value of the North Exchange's indices, aligning with its focus on specialized and innovative companies [2][3] Group 3 - The selection criteria for index adjustments typically emphasize market capitalization and liquidity, with newly included stocks often experiencing increased buying pressure post-adjustment [3] - The recent adjustment of the CSI 300 index involved the removal of stocks from sectors like power equipment and construction materials, while adding stocks from banking, artificial intelligence, and military sectors, consistent with the current market style [3] - Historical data indicates that index adjustments lead to positive price impacts for included stocks, particularly in larger indices where passive trading can significantly influence stock prices [3][4] Group 4 - The adjustments by international index providers like MSCI are also noteworthy, with recent changes including the addition of five A-shares to the MSCI China Index, which saw immediate price increases for the newly included stocks [4]

Group 1 - The software service index of China has decreased by 1.06% as of July 1, 2025, with mixed performance among constituent stocks [1] - Donghua Software led the gains with an increase of 0.42%, while Guiding Compass and other stocks like Hengsheng Electronics and Yonyou Network experienced declines [1] - The software ETF (159852) has undergone adjustments, showing a cumulative increase of 7.85% over the past week, ranking first among comparable funds [1] Group 2 - The software ETF recorded a turnover rate of 3.39% and a transaction volume of 108 million yuan, with an average daily transaction of 250 million yuan over the past week, leading among comparable funds [4] - The latest scale of the software ETF reached 3.195 billion yuan, marking a three-month high and ranking first among comparable funds [4] - The software ETF saw a significant increase in shares, with a growth of 15.8 million shares over the past week, also ranking first among comparable funds [4] Group 3 - The software ETF experienced a net inflow of 17.7697 million yuan, accumulating a total of 82.5867 million yuan over the last five trading days [4] - Leveraged funds are actively participating, with the latest margin buying amounting to 10.0713 million yuan and a margin balance of 107 million yuan [4] - Over the past year, the software ETF's net value has increased by 47.88%, ranking 195th out of 2889 index stock funds, placing it in the top 6.75% [4] Group 4 - According to research from交银国际, AI technology innovation is a key focus for building a strong technological nation, with policy benefits expected to boost technological iteration and local government/enterprise demand [5] - DeepSeek is breaking the limitations of OpenAI's closed-source and high costs through computational innovation, promoting the acceleration of AI application implementation and enhancing market confidence in AI technology development [5] - As regional political influences ease, domestic substitution and AI application support are expected to accelerate revenue and profit growth, potentially leading to further valuation recovery in the software industry [5] Group 5 - As of June 30, 2025, the top ten weighted stocks in the software service index include iFlytek, Kingsoft Office, and others, collectively accounting for 60.56% of the index [5] - The performance of the top ten stocks shows mixed results, with iFlytek slightly down by 0.06% and Hengsheng Electronics down by 4.03% [7] - Investors can also access AI software investment opportunities through the software ETF linked fund (012620) [7]

Core Viewpoint - The software service index has shown strong performance, with significant increases in individual stocks and the software ETF, indicating a positive trend in the software sector [1][4]. Group 1: Market Performance - As of June 24, 2025, the software service index rose by 2.19%, with notable increases in stocks such as Guide Compass (up 12.82%) and Wealth Trend (up 6.27%) [1]. - The software ETF (159852) increased by 2.13%, and over the past year, it has accumulated a rise of 31.01% [1]. - The software ETF recorded a turnover rate of 4.32% and a transaction volume of 127 million yuan, with an average daily transaction volume of 155 million yuan over the past year, ranking first among comparable funds [4]. Group 2: Fund Growth and Performance - The software ETF experienced a significant growth of 45.33 million yuan in scale over the past two weeks, leading among comparable funds [4]. - In the last five trading days, the software ETF saw net inflows on four occasions, totaling 73.89 million yuan [4]. - The net value of the software ETF increased by 31.38% over the past year, ranking 396th out of 2869 index stock funds, placing it in the top 13.80% [4]. Group 3: Industry Insights - According to Guojin Securities, the computer and software development industry is currently in a relatively chaotic fundamental period, with products awaiting breakthroughs in large models [4]. - Investment perspectives are driven more by risk appetite, with potential for transformation into a prosperous investment as new technologies and policies emerge [4]. - Zhongyuan Securities anticipates a steady upward trend in the market, emphasizing the need to monitor policy, capital, and external market changes closely [5]. Group 4: Key Stocks - The top ten weighted stocks in the software service index account for 59.85%, with notable companies including iFlytek (11.19%), Kingsoft Office (8.92%), and Tonghuashun (7.79%) [5][7]. - The table of key stocks shows various performance metrics, indicating a diverse range of growth among leading companies in the sector [7].

Market Overview - On June 23, 2025, the Sci-Tech Innovation Artificial Intelligence ETF (Hua Xia, 589010) closed down 0.72%, with leading declines from Hengxuan Technology down 5.46%, Lanke Technology down 4.36%, and Stone Technology down 3.62% [1] - The Robotics ETF (562500) closed up 0.50%, with East杰智能 leading gains at 10.47%, Tianzhihang up 7.27%, and Kuaike Intelligent up 3.04% [1] - The trading volume for the day was 359 million yuan, making it the most active ETF in its category, indicating good liquidity [1] Key Developments - Huawei and Softcom Power are collaborating to develop humanoid robots for manufacturing scenarios, focusing on general humanoid applications and 3C manufacturing [2] - KPMG's 2025 China Banking Industry Survey Report indicates that the banking sector is leading in the application of large models, with significant efficiency improvements and innovations across various banking operations [2] - Galaxy General announced the completion of a new financing round of 1.1 billion yuan, marking the largest single financing in the field of embodied large model robots, with total financing exceeding 2.4 billion yuan over two years [2] Institutional Insights - China Galaxy Securities states that A-shares are currently at a historical average valuation, relatively low compared to mature overseas markets, suggesting high investment value [3] - The report anticipates a stable upward trend for A-shares in the second half of 2025, driven by policy support and capital inflows, while cautioning about external uncertainties and domestic economic recovery [3] - The focus on technology innovation is highlighted as a core driver for A-share supply-side reform, with recommendations to pay attention to AI computing, AI applications, embodied intelligence, and innovative pharmaceuticals [3] ETF Highlights - The Robotics ETF (562500) is noted as the only ETF in the market with over 10 billion yuan in scale, offering the best liquidity and comprehensive coverage of the Chinese robotics industry [4] - The Sci-Tech Innovation Artificial Intelligence ETF (Hua Xia, 589010) is described as the "brain" of robotics, capturing the "singularity moment" in the AI industry with a 20% fluctuation range and small to mid-cap elasticity [4]

本次业绩说明会将采用网络远程方式举行，投资者可登录证券日报网的路演 平台（http://www.zqrb.cn/huiyi/lyhd/index.html），参与本次业绩说明会互动。出席 本次业绩说明会的人员如下：董事长兼总经理刘天文先生；董事、副总经理兼财 务总监张成先生；独立董事简建辉先生；董事会秘书王悦先生；保荐代表人许杰 先生。 证券代码：301236 证券简称：软通动力 公告编号：2025-058 软通动力信息技术（集团）股份有限公司 关于举行2024年度及2025年第一季度业绩说明会的公告 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。 软通动力信息技术（集团）股份有限公司（以下简称"公司"）已披露了《2024 年年度报告》和《2025 年第一季度报告》。为便于广大投资者更加全面深入地了 解公司经营情况及未来发展规划，增进公司与广大投资者的沟通与交流，公司定 于 2025 年 6 月 27 日（星期五）下午 15：00-16：00 举办 2024 年度及 2025 年第 一季度业绩说明会。 2025 年 6 月 23 日 为充分尊重投资者、提升交流 ...

Group 1 - Huawei and Softcom Power are collaborating to develop intelligent loading and unloading robots for manufacturing scenarios, focusing on humanoid robots for general and 3C manufacturing applications [1] - Huawei is also partnering with Xinjie Electric and Yadea to create a six-legged assembly robot for vehicle frames, leveraging Yadea's open scenarios and Xinjie Electric's capabilities [1] - The collaboration aims to achieve automated assembly of vehicle frames, integrating resources from Huawei Cloud's AI innovation center in Wuxi [1] Group 2 - Daohe Tongtai Robotics and Huawei Cloud are jointly developing an "integrated ground and aerial cluster intelligence solution," marking a significant partnership in Huawei Cloud's intelligent inspection capabilities [1] - This solution has already been implemented in a pilot project at a domestic oil field, successfully demonstrating a full-process intelligent closed loop [1]

Industry Rating - The industry rating is maintained at "Outperform" [1] Core Insights - The report suggests that the years 2025-2026 are expected to mark the commercialization of AI Agents, driven by advancements in large model capabilities and the introduction of key players like OpenAI, Anthropic, Microsoft, and Google [2][3] - The total addressable market (TAM) for AI Agents is estimated at approximately 3.61 trillion yuan, with significant opportunities in vertical industries such as IT and finance [2][3] - AI Agents are projected to replace specific standardized roles in various sectors, with a focus on enhancing productivity and ROI for businesses [3][48] Summary by Sections Investment Rating - The report maintains a rating of "Outperform" for the industry [1] Market Potential - The total addressable market (TAM) for AI Agents is estimated at 3.61 trillion yuan, calculated based on total salary levels, replacement rates, and efficiency optimization [50][54] - The report highlights six core scenarios where AI Agents are expected to penetrate first, including coding, banking, human resources, legal, cybersecurity, and customer service [61][62] Key Industry Insights - AI Agents are anticipated to significantly impact the banking sector, with 54% of jobs having a high potential for automation, leading to an estimated TAM of 1774.32 billion yuan in this field [71][77] - In the coding sector, AI is expected to automate up to 99% of coding tasks by the end of 2025, with a TAM of approximately 4357.84 billion yuan [63][68] - The report emphasizes that AI Agents will first replace roles in high-salary, white-collar industries such as finance, IT, and law, where the ROI for AI implementation is more favorable [55][57] Company Recommendations - The report suggests monitoring companies involved in general office applications and enterprise SaaS, as well as those in vertical markets like banking, human resources, and cybersecurity [3][4]