Investment Rating - The report maintains a rating of "Accumulate" for the company [6]. Core Views - The company's "Nano AI Search" has shown strong performance, ranking sixth globally and second domestically in the latest AI product rankings, indicating a positive outlook for its internet commercialization business driven by AI upgrades [2][3]. - Despite a decline in revenue for 2024, the company is expected to benefit from AI-driven upgrades in its internet advertising and commercial business, with a projected return to profitability by 2027 [4][5]. Summary by Sections Financial Performance - In 2024, the company achieved revenue of 7.948 billion yuan, a decrease of 12.33% year-on-year, and a net loss attributable to shareholders of 1.094 billion yuan, worsening from the previous year [1]. - For Q1 2025, revenue was 1.864 billion yuan, an increase of 8.39% year-on-year, but the net loss attributable to shareholders expanded to 273 million yuan [1]. Business Segments - The internet advertising and services segment generated revenue of 4.166 billion yuan in 2024, down 7.85% year-on-year, while the internet value-added services segment saw revenue growth of 25.51% to 1.379 billion yuan [3]. - The security business reported revenue of 1.287 billion yuan, a decline of 27.06%, and the smart hardware business revenue fell by 35.44% to 1.014 billion yuan [3]. AI Product Development - The company has launched several AI-native products, including "Nano AI Search" and "360AI Office," and has enhanced its self-developed general-purpose large model "360 Smart Brain" [2]. - The "360 Security Model 3.0" was introduced and integrated into all security products, demonstrating the company's commitment to advancing its security offerings [4]. Profitability Forecast - The forecast for net profit attributable to shareholders has been revised downwards for 2025 and 2026 to -0.05 billion yuan and 0.71 billion yuan, respectively, with a new projection of 1.51 billion yuan for 2027 [4][5].

截至2025年5月14日 10:48，中证软件服务指数下跌0.56%。成分股方面涨跌互现，软通动力领涨0.57%，润和软件涨0.48%，金山办公上涨0.07%；石基信息 领跌，电科网安、指南针跟跌。软件ETF(159852)下修调整。拉长时间看，截至2025年5月13日，软件ETF近2周累计上涨4.65%。 流动性方面，软件ETF盘中换手1.44%，成交4408.92万元。拉长时间看，截至5月13日，软件ETF近1周日均成交1.94亿元，居可比基金第一。 平安证券认为，全球大模型领域的竞争依然白热化，坚定看好AI主题的投资机会，当前Agent在企业端落地进度较为靠前，AI应用建议关注OA/ERP/编程/办 公等领域；算力方面，Agent将带来更多的推理端应用需求，从而拉动推理端算力乃至整体算力需求向上。 数据显示，截至2025年4月30日，中证软件服务指数前十大权重股分别为科大讯飞、金山办公、同花顺、润和软件、恒生电子、三六零、拓维信息、软通动 力、用友网络、中国软件，前十大权重股合计占比60.07%。 场外投资者还可以通过软件ETF联接基金（012620）布局AI软件投资机遇。 规模方面，软件ETF近2周规 ...

每日根据市值计算出前50名公司,美元港元按照当日汇率中间价折算 @ JIN10.COM D. 金十数据 | 一个交易工具 | 4 | | 拼多多 | 1695.77 | | --- | --- | --- | --- | | 5 | | 小米集团-W | 1645.31 | | 6 | 美國 | 美团-W | 1082.42 | | 7 | 60 0 | 网旦 | 673 72 | | 8 | | 京东 | 541.35 | | | --- | --- | --- | --- | --- | | 9 | | 东方财富 | 464.7 | | | 10 | | 中芯国际 | 434.77 | | | II | Bal Car | 百度 | 313.14 | | | 12 | P | 理想汽车 | 299.3 | | | 13 | 85 | 快手-W O | 287.29 | | | 14 | C | 贝売 | 241.45 | | | 15 | | 腾讯音乐 | 227.53 | | | 16 | K | 小鹏汽车 | 197.68 | 1 | | 17 | 8 | 同花顺 | 194.6 | 1 -1 | | ...

联合解读｜经贸谈判进展下的市场机遇 20250512 摘要 目前来看，关税阶段性下调的极限可能不是 32%，在未来 90 天内甚至有可能 进一步下调至 10%左右。关键在于芬太尼的关税仍有可能继续磋商。当前加征 的 145%关税中，91%是 4 月 8 号之后的报复性关税，这部分取消符合市场预 期，因为没有太多经济和贸易上的逻辑。34%的出版物关税调整超出预期，因 为对中国没有例外处理，与其他国家一视同仁，保留了 10%。24%的暂缓 90 天，看后续谈判结果再做安排。此外，20%的芬太尼关税未提及，因为这涉及 非经贸问题，需要公安、机务等部门磋商。 瑞士会谈中公共安全部门领导参与， 美国缉毒局局长科尔 4 月 30 日完成听证，等待投票确认后双方对口磋商预计 可以推进。如果 90 天内这 20%的关税能进一步磋商和取消，美国对华关税阶 段性低点可能在 10%。 • 海外算力资本开支：海外算力资本开支超预期，Meta 和谷歌等公司资本 开支增加，推动 CPO、AEC 和 PCB 等领域公司业绩提升，如博创科技、 胜宏科技等，以及 NVIDIA 供应链企业江海股份和合望股份。 • 汽车零部件行业：关税下调预期短 ...

转自：前瞻产业研究院 智能营销、教学辅助、3D建模以及智能驾驶等应用场景是生产生活中的重要领域，也是目前多模态大 模型可以切入并且精准赋能的领域。根据赛迪四川研究数据显示，2024年智能营销占中国人工智能多模 态大模型20强企业模型场景的9.5%，教学辅助、3D建模和智能驾驶均占4.8%左右。 行业主要上市公司：阿里巴巴(09988.HK，BABA.US);百度(09888.HK，BIDU.US);腾讯(00700.HK， TCEHY);科大讯飞(002230.SZ);万兴科技(300624.SZ);三六零(601360.SH);昆仑万维(300418.SZ);云从科技 (688327.SH);拓尔思(300229.SZ)等 本文核心数据：应用场景比重; 多模态大模型生成生活相关场景 多模态大模型助力智能营销优化策略 智能营销行业利用人工智能、大数据、机器学习和多模态技术，通过自动化、个性化的方式优化广告投 放、客户关系管理和内容营销。智能营销不仅帮助品牌实现更高效的客户触达，还能够动态调整营销策 略，提升用户体验，推动品牌增长。 智能营销是应用人工智能技术，对数字营销的全链路进行智能化升级的新型营销方式。智 ...

Group 1 - The software ETF has shown significant liquidity with an intraday turnover of 2.23% and a transaction volume of 70.31 million yuan, ranking first among comparable funds in terms of average daily trading volume over the past week at 241 million yuan [3] - The software ETF has experienced a notable increase in scale, growing by 225 million yuan over the past two weeks, also ranking first among comparable funds [3] - The software ETF's share count has increased by 10.2 million shares in the last two weeks, marking a significant growth and leading among comparable funds [3] Group 2 - In terms of capital inflow, the software ETF has seen net inflows for 6 out of the last 7 trading days, totaling 11 million yuan [3] - Leveraged funds are actively investing, with the latest margin buying amounting to 17.76 million yuan and a margin balance of 112 million yuan [3] - The launch of Huawei's first HarmonyOS-based computer on May 8 signifies a major breakthrough for domestic operating systems in the PC sector, with the official release scheduled for May 19 [3] Group 3 - The top ten weighted stocks in the CSI Software Service Index account for 60.07%, including companies like iFlytek, Kingsoft Office, and Tonghuashun [4] - Investors can also access AI software investment opportunities through the software ETF linked fund (012620) [4]

Group 1: Quantum Computing and Security - The first domestic quantum computer with over 1000 qubits was showcased, significantly accelerating drug screening processes in biopharmaceuticals by achieving results in milliseconds instead of days or months [1] - Quantum key distribution technology was presented as a solution to the potential security risks posed by quantum computing, ensuring data transmission remains secure even against quantum attacks [3] Group 2: Innovation and Technology Platforms - The establishment of the Beihang University Shanhuwan Valley Innovation Zone aims to foster collaboration between government, universities, and enterprises, enhancing the development of technology startups [5][6] - The innovation zone has attracted over 120 technology companies and has seen significant revenue generation, with nearly 60 million yuan in sales from startups since September [8] Group 3: Industry Growth and Applications - The electric vehicle sector in China is facing challenges related to battery recycling, with new non-destructive testing technologies being developed to address safety and efficiency issues in battery health assessments [5] - Companies like Huakun Zhenyu and Yuno Technology are successfully implementing their products across various industries, indicating a robust growth trajectory in technology innovation and application [11] Group 4: AI and Digital Transformation - The integration of multiple AI models into a single search platform allows users to conduct searches using various methods, enhancing accessibility and user experience [9] - The focus on creating a "2+4+N" industrial system in Chaoyang District aims to deepen the integration of AI with practical applications, driving high-quality development and innovation [11]

公司代码：601360 公司简称：三六零 三六零安全科技股份有限公司 二〇二五年五月 目 录 议案九：关于部分募投项目结项并将节余募集资金永久补充流动资金及部分募投项目调 会议议程 一、会议时间、地点及投票方式 （1）网络投票系统：上海证券交易所股东大会网络投票系统 （2）网络投票起止时间：自 2025 年 5 月 16 日至 2025 年 5 月 16 日。采用 上海证券交易所网络投票系统，通过交易系统投票平台的投票时间为股东大会召 开当日的交易时间段，即 9:15-9:25，9:30-11:30，13:00-15:00；通过互联网投票 平台的投票时间为股东大会召开当日的 9:15-15:00。 二、会议议程 授权代表人数及其代表的股份数； 由于本次股东大会实行现场投票与网络投票相结合的表决方式，网络投票表 决结果在 2025 年 5 月 16 日下午 15:00 收市后才能统计。公司将在网络投票结束 后依据现场投票和网络投票的表决结果汇总形成股东大会决议，并及时在上海证 券交易所网站予以公告，请各位股东及股东代表及时查阅。 注意事项 一、本次股东大会按照法律、法规、有关规定和《三六零安全科技股份有限 公司 ...

1 | | | | 会议议程 | | 3 | | --- | --- | --- | | 注意事项 | | 4 | | 议案一：2024 | 年年度报告及其摘要 | 6 | | 议案二：2024 | 年度财务决算报告 | 7 | | 议案三：2024 | 年度利润分配方案 | 11 | | 议案四：2024 | 年度董事会工作报告 | 12 | | 议案五：2024 | 年度监事会工作报告 | 17 | | 议案六：关于 | 2024 年度董事和高级管理人员薪酬的议案 | 20 | | 议案七：关于 | 2024 年度监事薪酬的议案 | 21 | | 议案八：关于 | 年度公司及子公司担保额度预计的议案 2025 | 22 | | | 议案九：关于部分募投项目结项并将节余募集资金永久补充流动资金及部分募投项目调 | | | 整内部投资结构的议案 | | 25 | | 关于听取《公司 | 2024 年度独立董事述职报告》的汇报 | 29 | 2 公司代码：601360 公司简称：三六零 三六零安全科技股份有限公司 2024 年年度股东大会会议资料 二〇二五年五月 会议议程 一、会议时间、地点及投票方式 1、现场 ...

Group 1 - The cloud office concept declined by 2.54%, ranking among the top declines in the concept sector, with notable declines in companies such as Wangda Software and Fanwei Network [1][2] - Among the cloud office concept stocks, only three saw price increases, with ST Shuyuan, Honghe Technology, and Dongfang Zhongke rising by 2.29%, 2.01%, and 1.56% respectively [1][2] - The cloud office sector experienced a net outflow of 1.189 billion yuan in main funds, with 36 stocks seeing net outflows, and Tianyuan Dike leading with a net outflow of 297 million yuan [2][3] Group 2 - The top net outflow stocks in the cloud office sector included Tianyuan Dike, Wangda Software, and Sanliu Ling, with net outflows of 297 million yuan, 155 million yuan, and 139 million yuan respectively [2][3] - The stocks with the highest net inflows included Dongfang Zhongke, Honghe Technology, and Huaping Co., with net inflows of 109 million yuan, 17.89 million yuan, and 6.87 million yuan respectively [2][3] - The overall performance of the cloud office concept was negatively impacted, as evidenced by the significant net outflows and declines in stock prices across the sector [1][2]