12月1日，紫光股份盘中上涨2.01%，截至10:36，报25.42元/股，成交5.63亿元，换手率0.78%，总市值 727.03亿元。 今年以来紫光股份已经1次登上龙虎榜，最近一次登上龙虎榜为2月21日，当日龙虎榜净买入1.31亿元； 买入总计9.42亿元 ，占总成交额比12.43%；卖出总计8.11亿元 ，占总成交额比10.70%。 机构持仓方面，截止2025年9月30日，紫光股份十大流通股东中，香港中央结算有限公司位居第四大流 通股东，持股6395.67万股，相比上期减少219.84万股。华泰柏瑞沪深300ETF（510300）位居第五大流 通股东，持股3424.56万股，相比上期减少150.49万股。易方达沪深300ETF（510310）位居第七大流通 股东，持股2463.82万股，相比上期减少84.51万股。华夏沪深300ETF（510330）位居第八大流通股东， 持股1838.69万股，相比上期减少24.98万股。易方达中证人工智能主题ETF（159819）位居第九大流通 股东，持股1634.65万股，为新进股东。嘉实沪深300ETF（159919）位居第十大流通股东，持股1585.53 万股， ...

" 我们正从感知智能迈向行动智能的新纪元。 " 这是斯坦福大学 HAI 联合主任、具身智能领域先驱李飞飞教授所前瞻的下一个机器人时代节点，其认为机器 人的下一个挑战，不是如何看得更准，而是如何根据所见做出正确的决策和行动，而这需要一种全新的、通用 化的 AI 能力框架。 过去数十年，机器人被牢牢禁锢在固定范围之内，执行着精准却单一的重复性任务。如今，源于以大模型为代 表的 AI 技术的突破性进展，全球机器人产业在具身智能等新理念的驱动下，正迎来一个历史性的 " 奇点时刻 (singularity) " ，即从专用到通用的范式转移。 人们开始希望，机器人不再是为特定流水线量身定制的工具，而是一种能够适应复杂、非结构化环境，并执行 多种任务的通用型智能体，或者称其为通用机器人（ General-Purpose Robots ）。 ▍ 机器人如何加速进入 " 通用化 " 临界点？ 机器人想要实现这一宏大的 " 通用化 " 愿景，产业对底层支撑技术提出了前所未有的苛刻要求，四大技术支 柱或许缺一不可。 因为训练一个能够理解千变万化物理世界的机器人通用 " 大脑 " ，需要处理远超以往的视觉、语言和动作数 据。这要求算 ...

Investment Rating - The report assigns a "Buy" rating for the company, marking its first coverage [1]. Core Insights - The company is a leading global player in the smart security chip market, focusing on AIoT and automotive sectors, with a robust growth trajectory expected in the coming years [8]. - The company is projected to achieve revenues of 29.34 billion yuan, 36.33 billion yuan, and 44.87 billion yuan from 2025 to 2027, with corresponding net profits of 2.7 billion yuan, 4.1 billion yuan, and 5.9 billion yuan [8]. Summary by Sections Company Overview - The company specializes in the research and sales of smart security chips, with applications in smart security, AIoT, and automotive sectors [13]. - It has a stable shareholding structure with significant investment from MediaTek, ensuring no controlling shareholder [14]. Financial Analysis - The company reported a revenue of 2.354 billion yuan in 2024, a year-on-year increase of 16.49%, and a net profit of 256.26 million yuan, up 25.18% year-on-year [20]. - The smart security segment remains the primary revenue source, consistently contributing over 50% to total revenue [23]. Smart Security Market - The global market for smart security is experiencing rapid growth, with a projected compound annual growth rate (CAGR) of 6.3% from 2021 to 2026, reaching 29.9 billion USD by 2026 [41]. - The company holds a leading market share in both IPC SoC and NVR SoC segments, with 36.5% and 38.7% market shares respectively in 2021 [49]. Smart IoT and Automotive Sectors - The company is expanding into the smart IoT market, particularly in robotic and AI glasses sectors, leveraging its visual AI and 3D sensing technologies [60]. - In the automotive sector, the company is the second-largest supplier of driving recorder chips in China, with plans to penetrate the front-mounted market [8]. Research and Development - The company maintains a high R&D expenditure, with a rate of 25.59% in 2024, reflecting its commitment to innovation and product development [27]. - The R&D team constitutes 77.5% of the total workforce, indicating a strong focus on technological advancement [27].

Group 1: IoT and AI Integration - The integration of IoT and AI is reshaping operational models and competitive landscapes across various industries, including manufacturing and logistics [1] - A significant skills gap in AI integration within IoT products and services is identified as a core bottleneck for industry advancement, with a lack of cross-disciplinary talent being a major challenge [2][2] - The rapid iteration of AI technology outpaces the product lifecycle of traditional IoT devices, leading to mismatches that increase R&D costs and necessitate new planning strategies [2][2] Group 2: Tariff Impacts on Business Strategy - Tariffs have raised raw material costs, affecting product pricing and supplier profitability, with 60% of companies indicating that rising tariffs threaten their profitability and tech budgets [3] - Companies are adjusting their strategies to mitigate the impact of tariffs, including delaying equipment purchases and diversifying supply chains [4][4] - Despite the instability caused by tariffs, investments in manufacturing upgrades and IoT systems are expected to continue, although cost pass-through to customers may affect pricing and supplier margins [5][5] Group 3: Rise of Synthetic Data - Synthetic data is emerging as a key tool for companies to navigate challenges related to data privacy and security, allowing for analysis without exposing sensitive information [6][6] - The use of synthetic data can facilitate model training, cross-company collaboration, and system simulation without compromising core business data [7][7] - Factors driving the adoption of synthetic data include concerns over data security, the need for cross-system analysis, and the demand for diverse datasets for AI applications [7][7] Group 4: Interoperability Among IoT Vendors - There is a growing trend of interoperability among IoT vendors, driven by customer demands for integrated solutions rather than isolated systems [8][8] - The shift from closed ecosystems to collaborative frameworks is essential for enhancing operational efficiency and reducing integration costs [9][9] - Companies are recognizing the need to compete not just on hardware but also on ecosystem capabilities and service integration [9][9] Group 5: Hybrid AI Models in Industrial IoT - The development of hybrid AI models is accelerating in response to the pressures of integrating real-time intelligence into edge devices within industrial IoT [10][10] - Hybrid AI models balance speed, cost, and performance by sharing intelligence between edge devices and cloud platforms [11][11] - The application of hybrid AI spans predictive maintenance, process optimization, and remote monitoring across various industrial operations [11][11] Group 6: Cybersecurity Challenges - Cybersecurity remains a significant challenge for IoT deployments, with 43% of companies identifying it as their biggest concern [13][13] - The complexity of IoT environments necessitates advanced security frameworks that can adapt to diverse potential attack vectors [14][14] - Companies are increasingly adopting zero-trust architectures and AI-driven threat detection to enhance their security postures [14][14] Group 7: AI's Role in Data Processing - AI is transforming how companies manage and analyze the vast amounts of data generated by IoT sensors, enabling actionable insights with minimal human intervention [15][15] - The ability of AI to facilitate predictive maintenance and optimize supply chains is accelerating the adoption of IoT technologies among businesses [15][15] - Companies that were previously cautious about data management complexities are now moving forward, driven by AI's capacity to deliver quantifiable results [15][15]

Nov. 27 2025 作为全球先进封装领域的领军者，台积电凭借革命性的CoWoS技术，已成为驱动AI产业高速发展的 核心战略支柱。台积电构建了适配全球AI芯片领导厂商的全场景先进封装解决方案矩阵，尤为关键的 是，面对AI浪潮引发的空前需求激增，台积电积极落实大规模CoWoS产能扩张。这一系列技术革新 与产能升级，为全球AI算力生态的规模化扩张筑牢了坚实根基，有力引领了半导体整合制造行业的高 质量发展方向。 当前，科技浪潮已将我们带至一个智能与信息交汇的变革原点。AI、大数据分析、以及边缘计算等 核心技术，正以前所未见的规模和效率，驱动着全球科技产业实现深刻的转型与飞跃。 每一次技术革新，每一项产品突破，无不镌刻着全球科技领域精英的智慧光芒与非凡成就。 11月27日，由TrendForce集邦咨询主办的"2026十大科技市场趋势预测暨TechFuture Awards 2025 （2025科技未来大奖）"成功举办。TrendForce现场发布了"2026十大科技市场趋势预测"，领域涵 盖了晶圆代工、存储器、AI服务器、第三代半导体、储能、AI机器人等重点科技领域，剖析关键领 域动态，挖掘数据与洞察AI闭环下 ...

Core Viewpoint - KWH Data's stock price has shown significant growth this year, with an 84.21% increase, despite recent fluctuations in trading performance [1][2]. Financial Performance - For the period from January to September 2025, KWH Data reported a revenue of 5.706 billion yuan, representing a year-on-year growth of 5.79%, and a net profit attributable to shareholders of 344 million yuan, which is a 44.71% increase compared to the previous year [2]. - The company has distributed a total of 1.385 billion yuan in dividends since its A-share listing, with 130 million yuan distributed over the past three years [3]. Stock Market Activity - As of November 28, KWH Data's stock price was 53.09 yuan per share, with a market capitalization of 27.363 billion yuan. The stock experienced a trading volume of 681 million yuan and a turnover rate of 2.84% [1]. - The stock has appeared on the "Dragon and Tiger List" seven times this year, with the most recent appearance on October 27, where it recorded a net buy of -471 million yuan [1]. Shareholder Structure - As of November 20, KWH Data had 98,000 shareholders, a decrease of 2.97% from the previous period, with an average of 4,639 circulating shares per shareholder, an increase of 3.06% [2]. - The second-largest circulating shareholder is Hong Kong Central Clearing Limited, holding 20.0319 million shares, an increase of 13.3589 million shares from the previous period [3].

华星创业（300025.SZ）11月28日在投资者互动平台表示，公司目前暂未涉及边缘计算机业务。 （文章来源：每日经济新闻） 每经AI快讯，有投资者在投资者互动平台提问：公司在边缘计算业务方面主要有哪些布局？目前取得 哪些实效？ ...

Core Viewpoint - Robotech's stock has shown volatility with a year-to-date decline of 6.84%, but a recent uptick of 9.39% over the last five trading days, indicating potential recovery or investor interest [1] Company Overview - Robotech Co., Ltd. is based in Suzhou Industrial Park, Jiangsu Province, and was established on April 14, 2011, with its IPO on January 8, 2019. The company specializes in high-end automation equipment and intelligent manufacturing execution system software based on industrial internet technology [1] - The main revenue sources for Robotech are photovoltaic equipment (76.31%), semiconductor equipment (19.65%), and other segments (4.04%) [1] Financial Performance - For the period from January to September 2025, Robotech reported a revenue of 416 million yuan, a significant year-on-year decrease of 59.04%. The net profit attributable to shareholders was -74.75 million yuan, reflecting a 205.01% decline compared to the previous year [2] - Cumulatively, Robotech has distributed 86.82 million yuan in dividends since its A-share listing, with 46.75 million yuan distributed over the last three years [3] Shareholder Information - As of September 30, 2025, Robotech had 38,800 shareholders, an increase of 15.91% from the previous period. The average number of circulating shares per shareholder decreased by 14.07% to 3,802 shares [2] - The top ten circulating shareholders include Southern CSI 500 ETF and Photovoltaic ETF, with both showing a decrease in holdings compared to the previous period [3] Market Activity - On November 28, Robotech's stock price rose by 2.08% to 209.87 yuan per share, with a trading volume of 428 million yuan and a turnover rate of 1.41%. The total market capitalization reached 35.176 billion yuan [1] - The stock has appeared on the "Dragon and Tiger List" four times this year, with the most recent instance on August 25, where it recorded a net purchase of 387 million yuan [1]

Core Viewpoint - The stock of Luopute has shown significant volatility, with a year-to-date increase of 63.54%, but recent trends indicate a decline over the past 20 and 60 days, raising concerns about its short-term performance [2]. Company Overview - Luopute Technology Group Co., Ltd. was established on March 17, 2006, and went public on February 23, 2021. The company is located in Xiamen, Fujian Province, and specializes in social security system solutions, security video monitoring products, and related services [2]. - The company's revenue composition includes 65.68% from social security system solutions, 31.49% from maintenance and other services, and 2.83% from sales of security video monitoring products [2]. Financial Performance - For the period from January to September 2025, Luopute reported a revenue of 144 million yuan, representing a year-on-year growth of 28.54%. However, the net profit attributable to shareholders was -95.31 million yuan, showing a slight increase of 0.88% year-on-year despite being negative [3]. - As of September 30, the number of shareholders was 8,161, a decrease of 1.98% from the previous period, while the average circulating shares per person increased by 2.02% to 22,722 shares [3]. Stock Performance - As of November 28, Luopute's stock price was 14.31 yuan per share, with a market capitalization of 2.654 billion yuan. The stock experienced a 2.07% increase during the trading session [1]. - The stock has seen a net outflow of 240,800 yuan in principal funds, with no significant large purchases recorded [1]. Dividend Information - Since its A-share listing, Luopute has distributed a total of 24.80 million yuan in dividends, with no dividends paid in the last three years [4].

Core Viewpoint - Lexin Technology's stock has shown a significant increase in recent trading days, with a year-to-date rise of 8.69% and a notable 13.86% increase over the last five trading days, indicating positive market sentiment towards the company [1] Financial Performance - For the period from January to September 2025, Lexin Technology achieved a revenue of 1.912 billion yuan, representing a year-on-year growth of 30.97%. The net profit attributable to shareholders was 377 million yuan, reflecting a 50.04% increase compared to the previous year [2] - Cumulatively, Lexin Technology has distributed 384 million yuan in dividends since its A-share listing, with 145 million yuan distributed over the past three years [3] Shareholder Information - As of September 30, 2025, the number of shareholders for Lexin Technology reached 20,100, an increase of 25.14% from the previous period. The average number of circulating shares per shareholder decreased by 20.09% to 7,777 shares [2] - The top ten circulating shareholders include Hong Kong Central Clearing Limited as the second-largest shareholder with 7.4023 million shares, an increase of 2.2202 million shares from the previous period [3] Market Activity - On November 28, Lexin Technology's stock price reached 169.19 yuan per share, with a trading volume of 289 million yuan and a turnover rate of 1.10%. The total market capitalization stood at 28.279 billion yuan [1] - The stock has appeared on the "Dragon and Tiger List" once this year, with the most recent appearance on August 27, where it recorded a net purchase of 92.5144 million yuan [1]