证券代码：688292 证券简称：浩瀚深度 公告编号：2026-004 转债代码：118052 转债简称：浩瀚转债 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、准确性和完整性依法承担法律责任。 一、本期业绩预告情况 （一）业绩预告期间 （二）业绩预告情况 经北京浩瀚深度信息技术股份有限公司（以下简称"公司"）财务部门初步测算： 2025年1月1日至2025年12月31日 2、2025年度公司发行可转换公司债券，报告期计提利息费用同比增加； 3、报告期内，公司加大研发投入，研发支出同比增加； （三）本次业绩预告未经注册会计师审计 二、上年同期业绩情况 （一）利润总额：3,196.78万元；归属于母公司所有者的净利润为3,612.01万元；归属于母公司所有者的 扣除非经常性损益的净利润为2,555.72万元。 （二）基本每股收益：0.23元/股。 三、本期业绩变化的主要原因 1、报告期内公司毛利率约60%，虽然毛利率水平较上年同期增长，但受运营商资本性开支收缩影响， 母公司营业收入同比下降，同时新设子公司业务尚处拓展期，尚无利润贡献； 1、预计公司2025 ...

中证智能财讯浩瀚深度（688292）1月23日晚间披露2025年度业绩预告，预计2025年归母净利润亏损260万元至390万元，上年同期盈利3612.01万元；扣非净 利润亏损1100万元至1600万元，上年同期盈利2555.72万元。以最新收盘价计算，市净率（LF）约5.38倍，市销率（TTM）约14.57倍。 以本次披露业绩预告均值计算，公司近年市盈率（TTM）图如下所示： 近年来市盈率变化情况 (倍) 1,500 10000 500 66-88 0 92064 रेस्पेरे 8 C 2 2080 3603 780F -500 -1,000 -1,500 -2,000 -72-3 n -O- 公司 -○- 行业均值 制图数据来自恒生聚源数据库 100 ହ 90 80 70 68:61 60 60 50 4946 40 1063 33a33 30 20 10 6.36 0 2n- ） 制图数据来自恒生聚源数据库 市净率(LF)历史分位(%) 001 90 88-58 84:38 80 75a12 70 60 50 47o3 46.15 40 40.14 30 21015 20 10 d 9.88 0 * ...

Investment Rating - The report assigns a "Buy" rating for the company, marking its first coverage [2][11]. Core Insights - The company is positioned as a leader in network visualization and data intelligence, with a strategic focus on AI implementation that opens up long-term growth potential [3]. - The acquisition of a 35% stake in Yunbianyun signifies the company's commitment to deepening its AI strategy, expanding its capabilities across various core industries such as retail, manufacturing, and healthcare [8]. - The company has established a robust foundation in DPI (Deep Packet Inspection) technology, which enhances its security capabilities and positions it as a benchmark for domestic intelligent defense solutions [4]. - The company is actively involved in the automotive internet security sector, benefiting from advancements in autonomous driving technologies [5]. - The company is also participating in the commercialization of satellite communications, which is expected to accelerate its growth as a supplier in this emerging ecosystem [6]. Financial Summary - The company is projected to achieve revenues of 497 million, 594 million, and 704 million yuan for the years 2025, 2026, and 2027, respectively, with year-on-year growth rates of 12.39%, 19.44%, and 18.53% [11][13]. - Basic earnings per share (EPS) are expected to be 0.25, 0.51, and 0.78 yuan for the same years, corresponding to price-to-earnings (PE) ratios of 125.45, 60.84, and 39.77 [11][13]. - The company maintains a low debt-to-asset ratio of 18.5%, indicating a strong financial position [2].

Core Viewpoint - The company has developed a comprehensive solution for vehicle network security, including in-vehicle security defense products and V2X security communication modules, which are being implemented through collaborations with automotive manufacturers and industry demonstration projects [1] Group 1: Company Developments - The company has established partnerships with multiple automotive manufacturers to apply its self-developed V2X series products in automotive and intelligent connected vehicle demonstration zones [1] - Since 2020, the company has participated annually in C-V2X "four cross" pilot application activities, successfully achieving safety integration with several automotive brands [1] - The company plans to continue enhancing its technology research and development to promote the application of security products in the intelligent connected vehicle sector [1]

Core Viewpoint - The strategic cooperation agreement between Xingmin Zhitong and BAIC Group aims to enhance collaboration in the fields of new energy vehicle technology research and vehicle sales, leveraging each party's expertise for comprehensive and multi-level strategic cooperation [2] Group 1: Technical Collaboration - The partnership will focus on innovation and optimization of wheel products, establishing a joint technical mechanism to enhance core competitiveness and ensure stable production and supply chain for BAIC's steel wheels [2] - Joint development of intelligent connected technology will be pursued, focusing on next-generation in-vehicle intelligent systems, including 5G and future 6G communication terminals, and enhancing the reliability of Beidou positioning technology [3] Group 2: Platform and Business Model Innovation - The companies will collaborate to build a "computing power + data + model" system to support BAIC's rapid implementation of intelligent driving, smart cockpits, and other areas, while integrating security solutions and digital twin technology [3] - Business model innovation will involve leveraging experience from subsidiaries to explore new service scenarios for vehicle owners, enhancing user experience and product differentiation [3] Group 3: Sales and Standardization - The companies will promote each other's brands and products, with a plan to purchase no less than 200 vehicles from BAIC's brands over the next three years [3] - They will collaborate on industry standards, utilizing expertise in standard formulation and joint research projects to drive innovation and industrialization [4] Group 4: Capital Cooperation - The partnership will focus on strategic emerging fields such as vehicle networking security and low-altitude economy, with plans to establish an industrial fund and participate in project investments to accelerate technology development and ecosystem building [5]

Core Insights - The company, Xingmin Zhitong, has signed a strategic cooperation agreement with BAIC Group to collaborate in the fields of new energy vehicle technology research and development, vehicle sales, and resource sharing [2][3]. Group 1: Technical Collaboration - The partnership will focus on wheel product innovation, establishing a joint technical mechanism to enhance raw material systems, optimize product structures, and refine key manufacturing processes [2]. - In smart connected technology development, both parties aim to create a deep technical cooperation mechanism to upgrade next-generation in-vehicle intelligent systems, focusing on vehicle communication evolution and developing hardware and software for 5G and future 6G [2][3]. Group 2: Platform Development and Operations - The companies plan to jointly build a "computing power + data + model" collaborative system to support BAIC's rapid implementation of intelligent driving, smart cockpits, and intelligent manufacturing [3]. - They will integrate chip-level security solutions and digital twin technology to innovate data elements, reduce operational costs, and enhance operational efficiency [3]. Group 3: Business Model Innovation - Xingmin Zhitong will leverage its subsidiaries' expertise to explore new scenarios and applications for vehicle owners, such as creating an integrated emergency rescue model using satellite communication and drones [3]. Group 4: Sales and Procurement - The companies will promote each other's brands and products, with Xingmin Zhitong planning to purchase no less than 200 vehicles from BAIC Group's brands over the next three years [4]. Group 5: Industry Standards and Capital Cooperation - They will collaborate on industry standards, utilizing Xingmin Zhitong's experience in standard formulation to participate in key research projects and promote innovation results [4]. - The partnership will also focus on strategic emerging fields like vehicle networking security and low-altitude economy, aiming to establish an industrial fund and participate in project investments [4].

Core Viewpoint - The strategic cooperation agreement between Xingmin Zhitong and BAIC Group focuses on resource sharing and professional collaboration in the fields of new energy vehicle technology research and development, vehicle sales, and more [1][2][3] Group 1: Technical Collaboration - The partnership will establish a joint technical attack mechanism for wheel product innovation, enhancing raw material systems, optimizing product structures, and refining key manufacturing processes to ensure BAIC's leading position in steel wheels [1] - Both companies aim to develop next-generation in-vehicle intelligent systems, focusing on vehicle communication evolution and creating hardware and software for 5G and future 6G applications [1][2] - The collaboration will enhance the reliability and compliance of Beidou positioning technology, increasing its application depth and breadth in mass-produced vehicles [1] Group 2: Platform and Operational Development - A collaborative "computing power + data + model" system will be established to support BAIC's rapid implementation of intelligent driving, smart cockpits, and intelligent manufacturing [2] - The partnership will integrate chip-level security solutions and digital twin technology to innovate data elements, reduce operational costs, and improve operational efficiency [2] Group 3: Business Model and Sales - Xingmin Zhitong will leverage its subsidiaries' expertise to explore new service scenarios for vehicle owners, including a unique "land-air-space" emergency rescue model and proactive service capabilities using big data and AI [2] - The companies will promote each other's brands and products, with plans for Xingmin Zhitong to purchase no less than 200 vehicles from BAIC's brands over the next three years [2] Group 4: Standardization and Capital Cooperation - The partnership will focus on co-developing industry standards, leveraging Xingmin Zhitong's experience in national and local standard formulation [3] - Both companies will deepen strategic cooperation in emerging fields like vehicle networking security and low-altitude economy, including the establishment of an industrial fund and joint project investments [3]

Core Viewpoint - The strategic cooperation agreement between Xingmin Zhitong and BAIC Group aims to enhance collaboration in the fields of new energy vehicle technology development and vehicle sales, focusing on resource sharing and professional cooperation [1][2][3] Group 1: Wheel Product Innovation - Both companies will establish a joint technology tackling mechanism to enhance raw material systems, optimize product structures, and refine key manufacturing processes, ensuring BAIC's leading position in steel wheels [1] Group 2: Intelligent Connected Technology Development - A deep technical cooperation mechanism will be established to innovate next-generation in-vehicle intelligent systems, focusing on vehicle communication evolution and developing hardware and software for 5G and future 6G [1][2] Group 3: Platform Construction and Operation - The collaboration will promote the construction of a "computing power + data + model" collaborative system to support BAIC's rapid implementation of intelligent driving, smart cockpits, and intelligent manufacturing [2] Group 4: Business Model Innovation - Xingmin Zhitong will leverage its subsidiaries' expertise to explore new scenarios for vehicle owners, such as integrating satellite communication and drones for emergency rescue, enhancing user experience and product competitiveness [2] Group 5: Vehicle Sales and Procurement - The companies will promote each other's brands and products, with Xingmin Zhitong planning to purchase no less than 200 vehicles from BAIC's brands over the next three years [2] Group 6: Industry Standards Co-creation - The partnership will involve joint participation in standard formulation and major research project applications, aiming to promote the transformation and industrialization of innovative results [3] Group 7: Capital Cooperation - The collaboration will focus on strategic emerging fields like vehicle networking security and low-altitude economy, with plans to establish an industrial fund and participate in project investments to accelerate technology development [3]

Core Insights - The third "Tianwang Cup" Cybersecurity Competition concluded successfully on September 23 in Tianjin, showcasing the technical prowess and professional offensive and defensive capabilities of top cybersecurity teams from across the country [1][3] Group 1: Event Overview - The competition was organized by the Tianjin Municipal Government and supported by various governmental and technological institutions, highlighting its significance in the domestic cybersecurity landscape [3][4] - The event focused on key areas such as digital security, artificial intelligence security, and vehicle networking security, aiming to establish a comprehensive technical offensive and defensive system [3][4] Group 2: Participation and Results - A total of 132 teams with 530 participants passed the qualification review, with 42 top teams advancing to the finals after rigorous selection [4] - The competition awarded 4 first prizes, 7 second prizes, and 11 third prizes, reflecting the high level of expertise displayed by the participating teams [1][4] Group 3: Industry Implications - The event aims to strengthen the security framework essential for the development of the digital economy, particularly as new technologies like artificial intelligence and smart vehicles emerge [4] - The "Tianwang Cup" is positioned to foster collaboration among government, industry, academia, and research institutions, promoting technological transformation and talent cultivation in the cybersecurity sector [4]

Core Insights - The company Tianrongxin is actively investing in new technologies and directions such as AI + security, intelligent computing cloud, trusted innovation security, data security, cloud security, industrial internet security, vehicle networking security, and IoT security [1] - The company has developed a comprehensive "cloud, management, edge, terminal" full-stack security product system and intelligent computing cloud solutions, which have been scaled across multiple industries [1] - Future plans include strengthening existing products while focusing on the deep integration of network security and intelligent computing cloud products with emerging scenarios like artificial intelligence, low-altitude economy, satellite internet, and trusted data space [1] Company Strategy - The company aims to continuously expand its business boundaries by providing comprehensive network security and intelligent computing cloud products and solutions [1] - Emphasis will be placed on leveraging advantages in existing products to drive growth in new technology areas [1]