证券代码：688561 证券简称：奇安信 公告编号：2025-046 奇安信科技集团股份有限公司 关于为全资子公司提供担保的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 担保对象及基本情况 | | 被担保人名称 | | 万元 | 奇安信网神信息技术（北京）股份有限公司 | | --- | --- | --- | --- | --- | | 担保 | 本次担保金额 | 50,000.00 | | | | 对象 | 实际为其提供的担保余额 | 162,317.70 | 万元 | | | | 是否在前期预计额度内 | □是 | 否 | □不适用：_________ | | | 本次担保是否有反担保 | □是 | 否 | □不适用：_________ | 累计担保情况 | 对外担保逾期的累计金额（万元） | 0.00 | | --- | --- | | 截至本公告日上市公司及其控股 子公司对外担保总额（万元） | 649,500.00 | | 对外担保总额占上市公司最近一 期经审计净资产的比例（%） | 7 ...

重要内容提示： 证券代码：688561 证券简称：奇安信 公告编号：2025-048 奇安信科技集团股份有限公司 关于召开2025年第三次临时股东大会的通知 本公司董事会及全体董事保证公告内容不存在任何虚假记载、误导性陈述或 者重大遗漏，并对其内容的真实性、准确性和完整性依法承担法律责任。 一、 召开会议的基本情况 （一） 股东大会类型和届次 2025年第三次临时股东大会 （二） 股东大会召集人：董事会 （三） 投票方式：本次股东大会所采用的表决方式是现场投票和网络投票相结 合的方式 （四） 现场会议召开的日期、时间和地点 召开日期时间：2025 年 12 月 15 日 14 点 00 分 召开地点：北京市西城区西直门外南路 26 号院奇安信安全中心多功能厅 （五） 网络投票的系统、起止日期和投票时间。 网络投票系统：上海证券交易所股东大会网络投票系统 网络投票起止时间：自2025 年 12 月 15 日 至2025 年 12 月 15 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 1 股东大会召开日期：2025年12月15日 本次股东大会采用的网络投票系统：上海证券交易所股东大会网 ...

二、监事会会议审议情况 证券代码：688561 证券简称：奇安信 公告编号：2025-044 经与会监事审议表决，形成的会议决议如下： 奇安信科技集团股份有限公司 第三届监事会第五次会议决议公告 本公司监事会及全体监事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性依法承担法律责任。 一、监事会会议召开情况 奇安信科技集团股份有限公司（以下简称"公司"）于 2025 年 11 月 26 日以 现场结合通讯方式召开第三届监事会第五次会议（以下简称"本次会议"）。根据 《奇安信科技集团股份有限公司章程》（以下简称"《公司章程》"）的规定，本次 会议通知已于 2025 年 11 月 24 日以邮件方式发送。本次会议由公司监事会主席 张继冉女士召集和主持，应参会监事 3 名，实际参会监事 3 名。本次会议的召集 和召开符合《中华人民共和国公司法》（以下简称"《公司法》"）及有关法律、 法规的规定。 表决结果：3票同意、0票反对、0票弃权。 （一）审议通过《关于取消监事会并修订<公司章程>的议案》 监事会认为，公司取消监事会并修订《公司章程》符合《公司法》《关 于新<公司法 ...

Group 1 - The core point of the article is the change in the actual controller of Tianjin Qianxin No. 3 Technology Partnership, which affects the shareholding structure of the company [1] - The controlling shareholder and actual controller Qi Xiangdong has terminated the concerted action relationship with Tianjin Qianxin No. 3, leading to a change in the calculation of shareholding proportions [1] - The combined shareholding of Qi Xiangdong and his concerted parties has decreased from 32.46% to 29.20% [1]

Core Viewpoint - The meeting on November 24 emphasized the development path of "Beijing-Shanghai-Guangzhou R&D + Guangxi (Nanning) Integration + ASEAN Application" for artificial intelligence, highlighting the importance of policy support, financial empowerment, and optimized scenario adaptation for the industry [1][2][3]. Group 1: Meeting Highlights - The meeting was attended by key officials including the Secretary of the Municipal Party Committee and the Mayor, focusing on the high-quality development of artificial intelligence in Nanning [2][3]. - The local government aims to strengthen project service guarantees and support the growth of AI enterprises, fostering a collaborative environment for AI development [2][4]. - A mechanism for regular communication and problem-solving was proposed to ensure timely responses to the needs of AI companies [4]. Group 2: Development Strategies - Nanning is committed to building a high-standard AI center and promoting the construction of a trusted data zone, alongside implementing supportive policies to attract domestic and international AI enterprises [3][5]. - The city plans to enhance financial support through various funds and encourage financial institutions to innovate products and services for AI companies [5]. - There is a focus on creating application scenarios that align with the needs of AI enterprises in sectors such as smart cities and public safety, facilitating cooperation with ASEAN [5]. Group 3: Company Overview - Turing Robot, established in 2014, is one of the earliest AI dialogue robot development platforms in China, holding nearly 500 invention patents in AI technology and applications [6]. - The company has deployed over 100 million AI hardware units and facilitates billions of AI interactions daily, primarily in education, robotics, and transportation sectors [6].

11月26日，作为2025中国产业转移发展对接活动（重庆）配套活动的璧山低空经济产业推介会在璧山区举 行，近200名行业专家及产业链企业、投资机构、金融机构代表参会，通过现场考察、产业推介、行业分 析、项目路演等方式，为璧山低空经济发展注入强劲动能。 璧山低空经济产业推介会现场。 当前，璧山区正高标准建设"梦界空间"数字经济产业园，重点布局低空经济、具身智能、人工智能、 AIGC、元宇宙、电竞动漫等核心赛道，引进中科曙光、奇安信、国科量子等行业企业，并聚集了新加坡 民用轻型直升机、中岳航空、华创智能等一批低空经济产业项目。 装备展示。 "璧山正布局建设低空无人航空器融合飞行训练场暨城市综合运营实验基地，将打造城市低空运行规范 的'策源地'、低空商业化应用的'验证场'、'低空+'新业态的'孵化器'、低空科技与文化的'普及台'。" 璧山区相关负责人说，璧山区还将打造公众科普与体验中心，联合产学研各方常态化发布《璧山低空城市 场景应用白皮书》，通过平台搭建、场景牵引与生态培育，探索形成"数字底座+空域管理+场景运营"的一 体化发展模式与可复制推广的"璧山实践"。 上游新闻记者 冯锐 项目签约。 推介会上，璧山现代服 ...

Summary of Key Points from the Earnings Call Industry Overview - **Industry**: Cybersecurity - **Key Companies**: DBAPP, QAX, Venustech Core Insights and Arguments Demand and Earnings Recovery - Demand pressure persists in the cybersecurity sector, but earnings recovery is driven by cost control measures implemented by companies like DBAPP and QAX. DBAPP's revenue grew by 6% year-over-year (y-o-y) in 3Q25, while QAX's revenue increased by 18% y-o-y, supported by demand recovery from downstream industries such as telecom and defense [2][12][37] - Venustech experienced a contraction in revenue and earnings in 3Q25 due to a decline in government business and exits from low-margin projects [2][3] Financial Performance - DBAPP's net loss narrowed by 80% y-o-y in 3Q25, attributed to effective expense control [12] - QAX's net profit reached RMB153 million in 3Q25, up 143% y-o-y, despite a decline in gross margin to 52% due to pricing pressure [37][38] - Venustech's share price declined by 4% year-to-date, contrasting with DBAPP and QAX's share price increases of 34% and 42%, respectively [2] Future Outlook - The overall recovery timeline for cybersecurity spending remains uncertain, but further downside is limited due to a low base and increased adoption of cloud and AI technologies, which are expected to boost demand for data security and managed security services [2] - Employee reductions and expense control measures in cybersecurity firms are anticipated to gradually reduce net losses and drive earnings recovery [2] Earnings Revisions - DBAPP's revenue estimates for 2025-27 were lowered by 2-3% due to muted traditional cybersecurity demand, while earnings were raised by 6-7% due to stricter expense control [3] - QAX's revenue estimates were raised by 4-5% for 2025-27 following a revenue beat in 3Q25, but earnings for 2026 were lowered by 143% due to a low base effect [3] - Venustech's revenue and earnings estimates were also lowered due to weaker demand from government sectors [3] Investment Ratings and Target Prices - **DBAPP**: Maintained a Buy rating with a target price (TP) of RMB71.00, reflecting strong expense control and a leading position in data and cloud security [4][25] - **QAX**: Maintained a Hold rating, with the TP raised to RMB36.00 from RMB32.80, indicating a cautious outlook despite recent revenue growth [4][49] - **Venustech**: Hold rating maintained with an unchanged TP, reflecting concerns over its performance [4] Additional Considerations - **Regulatory Environment**: Favorable policies supporting cybersecurity and data security have been released since October 2022, which may drive better downstream demand [29][54] - **Competition**: Intense competition in the cybersecurity field may pressure prices and margins, particularly in a weak demand environment [29][54] - **Macroeconomic Risks**: A weaker-than-expected macroeconomic environment could lead to reduced cybersecurity spending from downstream clients [29] Financial Metrics - DBAPP's 3Q25 revenue was RMB472 million, with a gross profit of RMB278 million, reflecting a 10% increase y-o-y [13] - QAX's 3Q25 revenue was RMB1,096 million, with a gross profit of RMB566 million, showing a 14% increase y-o-y [39] This summary encapsulates the key points from the earnings call, focusing on the performance and outlook of the cybersecurity industry and the specific companies involved.

Core Insights - Quantum technology is a strategic emerging field crucial for national information security, experiencing rapid market growth under national strategic guidance, with China's market size projected to grow from 4.523 billion yuan in 2015 to 13.104 billion yuan in 2024, reflecting a compound annual growth rate of 12.55% [1][14] - Significant breakthroughs in quantum technology are anticipated globally in 2024, transitioning from theoretical research to practical applications, with advancements in quantum computing platforms and quantum communication systems [1][14] - The development of quantum technology is expected to drive the next technological revolution, providing new tools and perspectives for exploring the unknown [1][14] Industry Overview - Quantum technology integrates principles of quantum mechanics with information science, computing, and materials science, focusing on information acquisition, processing, and transmission through quantum effects [4][13] - The industry primarily encompasses three core areas: quantum computing, quantum communication, and quantum precision measurement [4][13] Industry Development History - The Chinese government has emphasized the importance of advancing quantum technology, with strategic planning and support increasing since 2020 [6][9] - Notable achievements include the successful development of the "Zu Chongzhi No. 3" quantum computing prototype in March 2025, positioning China among the global leaders in superconducting quantum computing [1][7] - Recent advancements include the establishment of a 300-kilometer quantum direct communication network, validating the feasibility of long-distance secure communication [1][7] Industry Policies - The Chinese government has prioritized quantum technology in its "14th Five-Year Plan," aiming to implement significant national projects in frontier fields like quantum information [9][10] - The upcoming "15th Five-Year Plan" is expected to further promote quantum technology as a new economic growth point, alongside other emerging industries [9][10] Industry Value Chain - The quantum technology industry chain includes upstream components and technology development, midstream core equipment and system development, and downstream applications across various sectors such as cloud computing, finance, and defense [10][11] Market Size and Trends - The global quantum technology market is projected to reach $8.02 billion in 2024, with a year-on-year growth of 10.77%, and is expected to grow to $11.93 billion by 2025 [13] - Quantum computing dominates the market, accounting for 64.92% of the total, with North America leading in technological breakthroughs and industry applications [13][14] Key Companies - Major players in the Chinese quantum technology sector include China Great Wall Technology Group, Keda Technology, State Grid Information Communication, and others, contributing to a diverse competitive landscape [2][16] - China Great Wall Technology has reported significant growth in its computing industry, achieving a revenue of 5.148 billion yuan in the first half of 2025, a year-on-year increase of 9.63% [16] - Wuhan Guangxun Technology focuses on optical electronic devices and has seen a substantial increase in revenue from its data and access business, growing by 149.16% year-on-year in the first half of 2025 [16][17] Future Development Trends - Quantum computing is expected to overcome hardware performance bottlenecks, enhancing stability and developing new quantum bit architectures [17] - Quantum communication aims to establish broader and faster quantum key distribution networks, facilitating the construction of a future quantum internet [18] - Quantum measurement technology is anticipated to achieve significant precision improvements, expanding its applications in various fields [19]

Core Insights - The 15th National Games in the Guangdong-Hong Kong-Macao Greater Bay Area showcases a "smart sports" theme, integrating cutting-edge technology into the event [1][4] - Companies within the Kun Yuan Asset FOF ecosystem are positioned as key players in the fields of humanoid robotics, smart security, autonomous driving, and green energy [2][3][9] Group 1: Humanoid Robotics - UBTECH's Walker S2 humanoid robot represented the Greater Bay Area at the opening ceremony, highlighting China's advancements in humanoid robotics [2] - The global humanoid robot market is expected to experience explosive growth, with projections indicating a market size exceeding $87 billion by 2030 [4] Group 2: Smart Security - Yushu Technology's smart police robots enhance event security through 5G and AI technologies, providing real-time monitoring and alerts [3][8] - The integration of AI and self-evolving security systems by Qi Anxin ensures data security throughout the event [8] Group 3: Autonomous Driving - Autonomous vehicles are being tested at the National Games, with projections of 500,000 Robotaxis operating in China by 2030, creating a market worth $47 billion [5][6] - The laser radar technology from SUTENG and Hesai Technology is crucial for the success of autonomous driving applications [5][6] Group 4: Green Energy - The event emphasizes low-carbon principles, with venues designed for "all-green electricity" operations, supported by leading companies like Canadian Solar [9][10] - Hicharge Energy's advanced storage systems ensure stable energy supply, addressing the intermittency of solar power [10] Group 5: Overall Impact - The integration of humanoid robotics, autonomous driving, and green energy technologies at the National Games reflects a broader trend towards technological innovation in sports and event management [1][13] - Kun Yuan Asset's strategic investments in these sectors align with national goals for high-quality development and sustainability [10][13]

Core Insights - The 15th National Games in the Guangdong-Hong Kong-Macao Greater Bay Area showcases a "smart sports" theme, integrating cutting-edge technology into the event [1] - The event highlights the deep integration of sports and advanced technology, with companies in the Kunyuan Asset FOF ecosystem playing a crucial role [1][4] Group 1: Embodied Intelligence - The humanoid robot Walker S2, developed by UBTECH, represented the Guangdong-Hong Kong-Macao region at the opening ceremony, showcasing China's strength in embodied intelligence [2] - UBTECH is a leader in the humanoid robot sector, demonstrating advanced technology in motion control and human-robot interaction [2][4] - The global humanoid robot market is expected to experience explosive growth, potentially exceeding $87 billion by 2030, with Chinese companies leading in technology and commercialization [4] Group 2: Smart Security - Yushu Technology, another partner in the Kunyuan Asset FOF ecosystem, deployed intelligent police robots for enhanced security at the event, utilizing 5G and AI technologies [3][4] - These robots can perform all-terrain patrols and real-time anomaly detection, significantly improving security efficiency [3] Group 3: Autonomous Driving - Autonomous vehicles are providing smart transportation services for the event, with a projected market size of $47 billion for Robotaxis in China by 2030 [5][6] - Key players in the laser radar market, such as Suteng Juchuang and Hesai Technology, are crucial for the success of autonomous driving technology [5][6] Group 4: Cybersecurity - Qi Anxin plays a vital role in ensuring cybersecurity for the event, utilizing AI and a self-evolving security framework to protect data [8] - The company focuses on cross-border data security, ensuring data safety throughout its lifecycle [8] Group 5: Green Energy - The event emphasizes low-carbon principles, with venues designed for "all-green electricity" operation, supported by companies like Canadian Solar [9][10] - Hai Chen Energy provides advanced energy storage solutions, ensuring stable power supply from renewable sources [10] - The collaboration between Canadian Solar and Hai Chen Energy creates a complete green energy cycle, essential for achieving China's dual carbon goals [10]