Core Insights - The AI technology is increasingly penetrating and transforming various industries, with 350 out of 529 A-share AI companies reporting profits, indicating strong commercial momentum and industry vitality [1][7] - AI is driving significant changes in corporate performance, R&D investment, and the restructuring of various sectors [2][7] Financial Performance - Among the profitable companies, 31 reported a net profit exceeding 1 billion yuan, with 4 companies surpassing 10 billion yuan [2] - Industrial Fulian topped the AI sector with a revenue of 609.135 billion yuan, a year-on-year increase of 27.88%, and a net profit of 23.216 billion yuan, up 10.34% [2] - 491 companies disclosed R&D expenses, with 197 spending over 10% of their revenue on R&D, and 244 companies saw a year-on-year increase in R&D expenses [2] Industry Trends - AI is becoming a "super engine" for the semiconductor industry, with a surge in demand for computing chips driven by AI model training [2] - Companies like Ruixinwei reported a net profit of 595 million yuan, a year-on-year increase of 341.01%, benefiting from the growth in AIoT product lines [3] Application Development - AI is significantly impacting traditional industries, with new applications emerging in healthcare and education [4][5] - In healthcare, iFlytek's smart medical revenue reached 690 million yuan, growing 28.18% year-on-year [4] - In education, Dou Shen Education's AI product led to a net profit of 137 million yuan, a 334.04% increase [5] Innovation in Traditional Industries - AI is injecting innovation into logistics, textiles, and metal smelting, enhancing industry transformation [6] - SF Express reported a gross profit of 38.3 billion yuan in logistics and freight forwarding, a 19.65% increase year-on-year, aided by AI model technology [6] - Baosteel launched the largest AI computing platform in the domestic steel industry, successfully implementing 125 intelligent scenarios [6]

证券代码：301248 证券简称：杰创智能 杰创智能科技股份有限公司 投资者关系活动记录表 编号：2025-001 投资者关系活动 类别 特定对象调研 □ 分析师会议 □ 媒体采访 业绩说明会 □ 新闻发布会 □ 路演活动 □ 现场参观 其他 参与单位名称及 人员姓名 投资者网上提问 时间 2025 年 4 月 25 日 (周五) 下午 15:00-17:00 地点 公司通过全景网"投资者关系互动平台"（https://ir.p5w.net） 采用网络远程的方式召开业绩说明会 上市公司接待人 员姓名 1、董事长 孙 超 2、董事、总裁 龙 飞 3、独立董事 卢树华 4、高级副总裁、财务总监 李卓屏 5、高级副总裁、董事会秘书 赵 捷 投资者关系活动 主要内容介绍 1、2024 年公司净利润亏损接近 8000 万元，导致净利润大幅下滑的 原因是什么？未来将采取哪些措施来改善这种情况？ 您好！2024 年公司实现归属于上市公司股东的净利润为-7,997.69 万元，与上年同期对比，净利润减少 1,308.05%，主要原因如下：1）高 毛利的通信安全管理产品收入周期性下降，解决方案服务受市场影响毛利 率下降，导致公 ...

Summary of the Conference Call for Jiechuang Intelligent Company Overview - Jiechuang Intelligent has transitioned towards becoming an AI product and application solution provider, focusing on AI computing infrastructure and industry applications [1][2]. Financial Performance - In Q1 2025, the company reported a significant rebound with a net profit growth of 911.82% year-on-year, validating its strategic transformation [1][2]. - For 2024, the company faced a net loss of approximately 80 million yuan with revenues around 640 million yuan, attributed to weak industry demand and cyclical declines in communication security management products [2]. Research and Development - The company plans to invest approximately 70 million yuan in R&D for 2024, accounting for 11.34% of revenue, maintaining a high R&D intensity despite a decrease in absolute numbers [1][4]. - R&D efforts are focused on three core areas: AI technology, intelligent computing technology, and IoT perception technology [4]. AI Capabilities and Infrastructure - Jiechuang Intelligent has established four foundational centers: data, training, model, and inference, integrating eight capability modules including visual computing and machine learning [5]. - The company launched its cloud computing brand, Changqing Cloud, to support AI applications, leveraging a cloud-native architecture [6]. Business Segmentation and Revenue Growth - The company has reclassified its business revenue into three categories: AI + cloud computing solutions, AI + security products and solutions, and industry digitalization solutions, with AI + cloud computing expected to have high gross margins and significant growth potential [1][9]. - Revenue from industry intelligent solutions is projected to exceed 500 million yuan in 2025, with AI + security business expected to grow two to three times and AI + cloud computing business anticipated to grow over tenfold [3][21]. Market Position and Product Development - The hyper-converged infrastructure (HCI) is a key product, with Q1 2025 orders reaching the total of the previous year [3][12]. - The company is exploring new business models such as computing power leasing and has made advancements in low-altitude applications, including drone-based solutions for public safety [3][13]. Strategic Initiatives - Jiechuang Intelligent is implementing a share buyback program to incentivize core team members and is actively exploring mergers and acquisitions to accelerate its transformation, particularly in the AI sector [1][10][20]. - The company aims to achieve a revenue growth of 20%-30% in 2025, with a focus on long-term strategic transformation rather than short-term profit [21]. Future Outlook - The company expects to stabilize its industry digitalization solutions while focusing on growth in AI + cloud computing and AI + security sectors [11]. - Plans for 2025 include significant investments in cloud computing and robotics, with a goal to return to pre-IPO profit levels while expanding market share and customer base [21].

Investment Rating - The report gives a "Buy" rating for the company, marking its first coverage [1]. Core Insights - The company, Jiechuang Intelligent, focuses on smart security and smart city applications, leveraging IoT, cloud computing, big data, and AI technologies to create high-performance computing and intelligent solutions [4][5]. - In Q1 2025, the company reported a total revenue of 172 million yuan, a year-on-year increase of 5.45%, and a net profit attributable to the parent company of 14 million yuan, reflecting a significant growth of 911.82% [4]. - The company has faced challenges in 2024, transitioning from profit to loss due to reduced investments in digital upgrades by government and large enterprises, leading to a cautious approach in project undertakings [4]. Company Overview - Latest closing price: 18.24 yuan - Total shares: 1.54 billion, circulating shares: 1.02 billion - Total market capitalization: 2.8 billion yuan, circulating market capitalization: 1.9 billion yuan - 52-week high/low: 23.57/11.03 yuan - Debt-to-asset ratio: 31.2% - Price-to-earnings ratio: 456.00 - Largest shareholder: Sun Chao [3]. Financial Projections - Expected EPS for 2025-2027: 0.85, 1.36, 1.77 yuan, with corresponding P/E ratios of 24.21, 15.13, and 11.58 [10]. - Projected revenue growth rates for 2025-2027 are 65.44%, 36.13%, and 29.57% respectively, with a forecasted net profit of 130.45 million yuan in 2025 [12][15].

证券研究报告：计算机 | 公司点评报告 发布时间：2025-04-22 股票投资评级 买入|首次覆盖 个股表现 -20% -10% 0% 10% 20% 30% 40% 50% 60% 70% 2024-04 2024-06 2024-09 2024-11 2025-01 2025-04 杰创智能 计算机 资料来源：聚源，中邮证券研究所 常青云 AI 超融合一体机，赋能千行百业 公司在私有云业务方面，具有自主研发的"常青云"系列产 品，并已在多个行业有落地案例，1 月 17 日，公司又推出"常青云 AI 超融合一体机"，产品以约国际同类产品一半的建设成本，实现了 翻倍的性能，帮助客户降低用云门槛，拥抱 AI 时代下的数字化转 型。2 月 17 日，发布 DeepSeek 超融合一体柜，以"AI Infra 平台+ 超融合架构+全国产化兼容"为核心，为企业提供开箱即用、高效的 智能算力云基座。产品全栈国产化兼容，硬件层支持六大国产 CPU 芯片，以及昇腾、海光 DCU、摩尔线程、沐曦等国产 AI 芯片，单柜 最高可扩展至 40 卡集群。软件层内置常青云 AI 超融合平台、常青 云智算平台，适配麒麟 OS、统信 ...

Core Insights - The company has successfully turned around its performance in the first reporting period of 2025, achieving significant growth in revenue and net profit, which serves as a strong boost for the market [1] - In Q1 2025, the company reported revenue of 172 million yuan, a year-on-year increase of 5.45%, and a net profit attributable to shareholders of 13.63 million yuan, up 911.82% [1] - The strategic transformation towards AI has laid a solid foundation for the company's performance recovery, despite challenges faced in 2024 due to industry demand downturn and increased competition [1][2] Business Segments - The "AI + Cloud Computing" segment has successfully completed the incubation phase and is entering the expansion phase, with revenue reaching 10.67 million yuan, a year-on-year increase of 259.07% and a gross margin of 32.34% [2] - The "AI + Security" and "Industry Digitalization" segments are showing positive synergy between traditional and emerging businesses, leveraging accumulated industry know-how and data for AI applications [2] - The company has transformed from a "Smart City Service Provider" to a "Provider of AI Products and Solutions," with significant technological advancements, including 28 new AI-related patents and 57 new software copyrights in 2024 [2] Industry Outlook - The year 2025 is viewed as a critical juncture for the AI industry, and the company is expected to accelerate the release of core growth momentum in the AI + industry sector during this strategic opportunity period [3]

长江商报消息 ●长江商报记者 黄聪 杰创智能（301248.SZ）主要业务在2024年第四季度呈现快速复苏态势，并表现在公司2025年业绩中。 4月20日晚间，杰创智能发布季报，公司一季度实现营业收入1.72亿元，同比增长5.45%；净利润 1363.38万元，同比增长911.78%。 数据显示，2025年一季度，杰创智能研发费用达1459.87万元，占营业收入约8.5%。 2024年年报中，杰创智能介绍，公司新增知识产权，主要集中在人工智能（AI）、智能算力、物联感 知等技术领域，集中体现了公司现阶段研发与产品工作重点投入的方向。 杰创智能还表示，"AI+云计算"业务作为公司上市后新孵化的业务，已完成"0—1"的孵化验证阶段，即 将进入"1—10"的拓展阶段。 2022年4月，杰创智能上市。公司自成立以来，一直以技术立身、以市场为导向，推动前沿科技技术落 地，助力公安、政企、能源、工业等领域客户的数智化建设，致力于成为国内人工智能和新一代信息技 术服务领域的领军企业。 2025年，杰创智能盈利能力回暖。 4月20日晚间，杰创智能发布季报，公司一季度实现营业收入1.72亿元，同比增长5.45%；净利润 136 ...

重要的消息有哪些 央行将于周一公布4月1/5年期贷款市场报价利率 中国央行将于周一公布4月1/5年期贷款市场报价利率(LPR)，截至目前，1年期LPR为3.1%，5年期以上 LPR为3.6%，均持平前值，为连续五个月维持不变。此外，4月25日，中国人民银行将发布4月中期借贷 便利(MLF)数据。白宫将成立工作组，紧急处理对中国加征关税危机 基金一季报密集亮相基金经理提升"含科量" 据央视新闻，当地时间4月18日，美国哥伦比亚广播公司报道称，多名消息人士透露，由于特朗普政府 对中国商品加征的畸高关税将导致供应链危机，特朗普政府内部已开始讨论组建一个工作组，以便在未 能与中国政府谈判取得突破的情况下紧急处理这些问题。 消息人士称，目前有关成立该小组的具体情况还未敲定任何细节，但工作组可能包括副总统万斯、财政 部长贝森特、商务部长卢特尼克、白宫国家经济委员会主任凯文.哈西特、白宫经济顾问委员会主席斯 蒂芬.米兰和美国贸易代表贾米森.格里尔。 美宣布对中国海事、物流和造船领域301调查的最终措施中国商务部：敦促美方尽早纠正错误做法 有记者问：4月17日，美国贸易代表办公室宣布对中国海事、物流和造船领域301调查的最终 ...

证券代码：301248 证券简称：杰创智能 公告编号：2025-026 一、重要提示 本年度报告摘要来自年度报告全文，为全面了解本公司的经营成果、财务状况及未来发展规划，投资者 应当到证监会指定媒体仔细阅读年度报告全文。 所有董事均已出席了审议本报告的董事会会议。 中审众环会计师事务所（特殊普通合伙）对本年度公司财务报告的审计意见为：标准的无保留意见。 本报告期会计师事务所变更情况：公司本年度会计师事务所为中审众环会计师事务所（特殊普通合 伙）。 非标准审计意见提示 □适用 √不适用 公司上市时未盈利且目前未实现盈利 □适用 √不适用 董事会审议的报告期利润分配预案或公积金转增股本预案 □适用 √不适用 公司计划不派发现金红利，不送红股，不以公积金转增股本。 董事会决议通过的本报告期优先股利润分配预案 □适用 √不适用 二、公司基本情况 2、报告期主要业务或产品简介 （一）战略和业务概述 公司自成立以来，一直以技术立身、以市场为导向，推动前沿科技技术落地，助力公安、政企、能源、 工业等领域客户的数智化建设，致力于成为国内人工智能和新一代信息技术服务领域的领军企业，为建 设数字中国贡献力量。随着人工智能产业浪潮 ...

国泰海通证券股份有限公司 关于杰创智能科技股份有限公司 鉴于日常经营需要，公司 2025 年拟与关联方广州三川园林装饰工程有限 公司（以下简称"三川园林公司"）、广州香榭芳疗文化工作室（个人独资）（以下 简称"香榭芳疗工作室"）发生日常交易。预计公司 2025 年与上述关联方发生日 常关联交易总额不超过 360 万元。截至 2024 年 12 月 31 日，公司 2024 年度 同类交易实际发生总额为 83.60 万元。 根据《深圳证券交易所创业板股票上市规则》及《公司章程》的相关规定， 上述关联交易在董事会审议权限范围内，无需提交股东大会审议，且不构成《上 市公司重大资产重组管理办法》规定的重大资产重组。 1 关联交 易类别 关联人 关联交易 内容 关联交易 定价原则 预计金额 （万元） 截至披露 日已发生 金额（万 元） 上年发生 金额（万 元） 接 受 关 联 人 提 供 的 劳 务 广 州 三 川 园 林 装 饰 工 程 有 限 公司 园区绿化 市场公允价 格 300.00 99.15 57.14 向 关 联 人 采 购 广 州 香 榭 芳 疗 文 化 接 受 关 联 方 提 供 的 市场公允价 格 ...