（记者 王晓波） 免责声明：本文内容与数据仅供参考，不构成投资建议，使用前请核实。据此操作，风险自担。 每经头条（nbdtoutiao）——个人消费贷贴息明日开闸！贷30万元最多可享贴息3000元，一文读懂→ 每经AI快讯，开源证券9月1日发布研报称，给予中望软件（688083.SH，最新价：76.65元）买入评级。 评级理由主要包括：1）事件：公司发布2025年中报，Q2收入增长加速；2）境外收入表现亮眼，加速 成长为世界级工业软件企业；3）股权激励彰显信心，3DCAD和境外收入领跑。风险提示：客户预算不 及预期；市场竞争加剧；公司研发不及预期风险等。 ...

Core Viewpoint - 鼎捷数智's 2025 H1 report shows steady revenue growth and significant advancements in AI integration, highlighting the company's resilience and potential for future growth [1][2][3] Financial Performance - In H1 2025, 鼎捷数智 achieved revenue of 1.045 billion yuan, a year-on-year increase of 4.1%, and a net profit attributable to shareholders of 45 million yuan, up 6.1% year-on-year [1] - The company's revenue from mainland China was 476 million yuan, while revenue from non-mainland regions (including Taiwan and overseas markets) was 569 million yuan, reflecting growth rates of 4.6% and 3.7% respectively [1] Regional Performance - The Southeast Asian market showed robust growth, with local business revenue increasing by 61% due to opportunities from Chinese enterprises expanding overseas and local digital upgrades [1] Business Segments - Revenue from R&D design, digital management, production control, and AIoT segments were 57 million yuan, 571 million yuan, 138 million yuan, and 274 million yuan respectively, with growth rates of 11.1%, 4.3%, 7.4%, and 3.5% [2] - The R&D design segment's growth was driven by the integration of AI technology into PLM products, enhancing customer pricing [2] AI Integration - AI business revenue grew by 125.9%, becoming a key driver of overall performance [3] - The company launched the enterprise intelligent agent generation suite and established foundational interaction standards for AI collaboration in manufacturing [3] Future Outlook - Revenue projections for 鼎捷数智 are 2.568 billion yuan, 2.816 billion yuan, and 3.056 billion yuan for 2025, 2026, and 2027 respectively, with net profits expected to be 202 million yuan, 251 million yuan, and 293 million yuan [3]

Core Viewpoint - Nengke Technology's stock has experienced fluctuations, with a year-to-date increase of 52.61% and a recent decline of 2.04% on September 1 [1] Financial Performance - For the first half of 2025, Nengke Technology achieved operating revenue of 738 million yuan, a year-on-year increase of 4.91%, and a net profit attributable to shareholders of 111 million yuan, up 18.75% year-on-year [2] - Cumulative cash dividends since the A-share listing amount to 79.65 million yuan, with 21.40 million yuan distributed over the past three years [3] Stock Market Activity - As of September 1, 2023, Nengke Technology's stock price was 45.60 yuan per share, with a total market capitalization of 11.158 billion yuan [1] - The stock has seen significant trading activity, with a turnover rate of 4.12% and a net outflow of 19.17 million yuan in principal funds on September 1 [1] - The company has appeared on the "Dragon and Tiger List" three times this year, with the most recent occurrence on August 27 [1] Shareholder Structure - As of June 30, 2025, the number of shareholders for Nengke Technology was 26,000, a decrease of 13.21% from the previous period, with an average of 9,413 circulating shares per person, an increase of 15.23% [2] - Notable institutional shareholders include Huaxia Industry Prosperity Mixed Fund and new entrants such as Jiangyin Advanced Manufacturing Mixed Fund [3]

Core Viewpoint - The report outlines the ongoing supervision and compliance of Beijing Shenzhou Aerospace Software Technology Co., Ltd. (航天软件) following its initial public offering and listing on the Sci-Tech Innovation Board, emphasizing the importance of regulatory adherence and internal control measures [1][2][3] Continuous Supervision Work - The sponsor has established a comprehensive supervision system and signed a continuous supervision agreement with the company, detailing rights and obligations during the supervision period [1][2] - Regular communication, site inspections, and due diligence are conducted to monitor the company's business development and compliance with laws and regulations [2][3] - The sponsor ensures that the company adheres to governance standards and fulfills commitments made to stakeholders [2][3] Financial Performance - For the first half of 2025, the company reported a net profit attributable to shareholders of -61.80 million yuan, primarily due to reduced client budgets for information technology investments [6][8] - The company's revenue decreased by 24.20% year-on-year, amounting to 323.11 million yuan [8] - The total assets as of June 30, 2025, were 3.06 billion yuan, reflecting a 3.61% decrease from the previous year [8] Risks - The company faces core competitiveness risks due to rapid technological advancements in the software and information technology sector, which may impact its operational model and market position [6][8] - Operational risks are highlighted by the company's reliance on government funding for research projects, which could affect performance if such funding decreases [7][8] - High accounts receivable and inventory levels pose financial risks, with accounts receivable at 396 million yuan and inventory at 707 million yuan as of mid-2025 [7][8] Research and Development - The company has increased its R&D expenditure by 10.74% year-on-year, totaling 83.39 million yuan, which represents a significant investment in maintaining technological leadership [9][12] - Key technological advancements include improvements in database management systems and collaborative design technologies, enhancing the company's competitive edge in the aerospace sector [12][14] Shareholder Structure - As of June 30, 2025, the controlling shareholder is Aerospace Science and Technology Corporation, holding 47.86% of the shares, indicating strong backing from a major state-owned enterprise [18][19] - There are no reported pledges, freezes, or reductions in shareholdings by major shareholders or management, reflecting stability in ownership [18][19]

Core Viewpoint - The financial performance of Zhongkong Technology in the first half of 2025 shows a decline in revenue and profit, indicating potential challenges in the company's operations and market conditions [1][2]. Financial Performance - The company's revenue for the first half of 2025 was 3.83 billion yuan, a year-on-year decrease of 9.92% [1]. - The net profit attributable to shareholders was 354 million yuan, down 31.46% year-on-year [1]. - The basic earnings per share were 0.45 yuan [1]. - The gross profit margin for the first half of 2025 was 32.08%, a decrease of 1.15 percentage points year-on-year [1]. - The net profit margin was 9.29%, down 3.03 percentage points compared to the same period last year [1]. Cost Structure - The total period expenses for the first half of 2025 were 937 million yuan, an increase of 25.38 million yuan year-on-year [2]. - The period expense ratio was 24.45%, up 3.02 percentage points from the previous year [2]. - Sales expenses increased by 1.75%, while management and R&D expenses decreased by 1.97% and 5.54%, respectively [2]. - Financial expenses saw a significant increase of 69.76% [2]. Shareholder Information - As of the end of the first half of 2025, the total number of shareholders was 39,900, an increase of 481 from the previous quarter [2]. - The average market value per shareholder decreased from 1.0647 million yuan to 889,600 yuan, a decline of 16.44% [2]. Business Overview - Zhongkong Technology, established on December 7, 1999, and listed on November 24, 2020, specializes in providing automation control systems and solutions for industrial enterprises [3]. - The main business revenue composition includes: - Industrial automation and intelligent manufacturing solutions (61.75%) - S2B business (17.75%) - Industrial software (8.13%) - Instrumentation (7.04%) - Operation and maintenance services (4.64%) [3]. - The company operates within the mechanical equipment industry, specifically in automation equipment and industrial control devices [3].

Core Insights - The 14th "China Software Cup" University Student Software Design Competition concluded on August 28, focusing on hot technologies such as open-source AI models, drones, and industrial software [1] - The competition received over 200 problem submissions and attracted more than 5,604 teams from over 800 universities, with participation from over 20,000 students and teachers [1] - Since its inception in 2012, the competition has expanded significantly, covering over 2,000 institutions and involving more than 60,000 teams and 240,000 participants, addressing over 400 key common technology challenges [1] Industry Impact - The "China Software Cup" serves as a crucial platform for integrating software industry development with higher education in software talent cultivation [1] - The competition has been recognized in the "National College Student Competition Analysis Report" and was included in the "Index of College Student Computer Competitions" for 2024, receiving a five-star rating, the highest level [1] - The event has facilitated opportunities for nearly 40,000 participating students in further education, internships, and entrepreneurship [1]

Group 1 - The company reported a revenue of 7.075 billion yuan for the first half of 2025, representing a year-on-year growth of 27.67% [1] - Net profit reached 127 million yuan, with a year-on-year increase of 46.96%, while the net profit excluding non-recurring items was 96 million yuan, up 50.08% year-on-year [1] - Domestic business continued to grow, achieving a revenue of 5.860 billion yuan, which is a 33.62% increase year-on-year [1] Group 2 - The company invested 65 million yuan in technology, with approximately 35.91% allocated to internal information technology construction and 64.09% for the development and upgrading of digital products [2] - New technology business revenue grew by 48.23% year-on-year, driven by the operational efficiency of the "He Wa" platform [2] - The "He Wa" platform added over 1,500 new registered partners, a 35% increase, and over 22,900 new registered delivery consultants, a 111% increase year-on-year [2]

Core Viewpoint - Shanghai Suochen Information Technology Co., Ltd. focuses on CAE software development, sales, and services, emphasizing the integration of physical AI technology to enhance industrial design and manufacturing capabilities [2][16][20]. Company Overview and Financial Indicators - The company reported a revenue of approximately 57.35 million yuan for the first half of 2025, representing a 10.82% increase compared to the same period last year [2][3]. - The net profit attributable to shareholders was approximately -45.70 million yuan, an improvement from -66.43 million yuan in the previous year [2][3]. - The company's total assets were approximately 3.03 billion yuan, showing a decrease of 1.26% from the end of the previous year [2]. Industry Context - The industrial software sector is crucial for enhancing the efficiency and innovation of industrial enterprises, with a significant demand for CAE software as China transitions from an industrial power to a strong industrial nation [5][12]. - The national strategy emphasizes the importance of developing domestic industrial software, particularly in the context of ensuring the security and stability of foundational industries [5][13]. - The industrial software market in China is expected to maintain rapid growth, with industrial software revenue reaching approximately 1.45 billion yuan in the first half of 2025, up 8.8% year-on-year [6]. Technological Development - CAE software is recognized as a key tool for product design and innovation, facilitating the optimization of product performance and reducing development costs [11][12]. - The integration of AI with traditional CAE technologies is transforming the industry, enabling real-time decision-making and enhancing simulation capabilities [8][14]. - The company has developed a range of core technologies, including fluid dynamics and multi-physics simulation, to support various engineering applications [17][18]. Future Outlook - The company aims to continue its focus on technological innovation in industrial software, particularly in the realm of physical AI, to meet the evolving needs of the manufacturing sector [11][20]. - There is a growing trend towards the localization of industrial software, driven by the need for self-sufficiency and information security [12][13]. - The company plans to leverage cloud computing to enhance its software offerings, making advanced simulation technologies more accessible to a broader range of users [14].

Core Insights - Suzhou's industrial software sector is rapidly advancing, with significant developments in various software products and platforms aimed at enhancing manufacturing capabilities and digital transformation [1][2][3] Group 1: Industrial Software Developments - Tongyuan Soft Control launched the MWOKRS2025b version, adding over 200 optimized features [1] - QJCAM series industrial software by Qianji Intelligent achieves autonomy in the machining industry [1] - Haocen Software's CAD series now supports multiple operating systems, covering over 175 countries and regions [1] - Yuyun Simulation Technology won a project for domestic welding simulation software, indicating further application of autonomous industrial simulation software in high-end manufacturing [1] Group 2: Industrial Park Development - Suzhou has established 10 characteristic software industrial parks with a total area exceeding 5.6 million square meters, focusing on AI, industrial software, and digital finance [2] - The Jinji Lake Software Industrial Park covers 2.2 million square meters and includes over 140 key software enterprises, generating software business revenue exceeding 91.3 billion yuan by the end of 2024 [3] - The Suzhou (Taihu) Software Industrial Park focuses on digital economy and IT application innovation, aiming for software business revenue of 13.9 billion yuan in 2024 [3] Group 3: Talent and Ecosystem Development - Suzhou is attracting high-end talent and innovative enterprises, with 216 high-end software talents, including 35 PhDs, in the Kunshan Global Digital Innovation Port [6] - The city has introduced 22,000 high-level talents from both domestic and international sources through the Suzhou Overseas Students Entrepreneurship Park [6] - Public service platforms, such as the Industrial Software Application Innovation Center and AI Computing Power Center, provide essential support for enterprise growth [7] Group 4: Policy Support and Growth - Suzhou's policies are designed to support the software industry across all stages, from startup to maturity, including financial support and market expansion [8] - The software and information service industry in Suzhou has maintained steady growth, with software business revenue achieving double-digit growth for three consecutive years [9] - The city aims to transition from "Suzhou Manufacturing" to "Suzhou Intelligent Manufacturing," contributing to China's path toward autonomous industrial software [9]

8月22日，寒武纪-U（688256.SH）单日暴涨20%、市值激增近千亿元，一举超越多家头部金融股；海光 信息（688041.SH）单日市值增长超700亿元。Wind数据显示，截至2025年8月22日，申万电子板块市值 飙升至11.32万亿元，与银行业的11.37万亿元仅相差500亿元。 这场市值格局的重塑并非一日之功。"新兴产业进、传统产业退"的趋势已在五年间清晰显现。2019年底 至今，电子、电力设备、计算机、汽车、通信五大新兴板块市值占比从16.95%猛增至26.29%，提升近 9.5个百分点，而银行、非银金融与地产三大传统板块市值占比则萎缩超6.95个百分点。 业内认为，从国际经验来看，科技企业往往是国际发达市场市值体系的核心支撑。近年来，科技在国内 经济中的地位和作用越来越强，未来科技相关板块或有望进一步扩张。 科技板块崛起 Wind数据显示，8月22日，申万电子板块迎来新一轮上涨，市值达到11.32万亿元，基本已接近银行业 11.37万亿元。 | | | | 部分行业的市值变化 | | | | | --- | --- | --- | --- | --- | --- | --- | | 证券代码 ...