站在资产管理规模突破四万亿元的全新发展阶段，泰康资产的 数字金融发展也逐步迈上新台阶。 作者： 李言 封图：图片资料室 数字金融是建设金融强国的底座，数智化转型是金融业高质量发展的必由之路。泰康资产 作为行业领先的 保险 资管机构， 面对业务条线复杂、资产 管理密度大、协同性要求高等业态特征，始终将数智化转型作为公司发展的核心战略之一。 经过多年实践探索，泰康资产数字金融发展多点突破，赋能投资研究能力，提升业务承载能力和整体运作效率，降低资产管理规模增长的边际成本， 夯实 合规 稳健经营，护航高质量发展。 赋能投研体系升级，锻造核心竞争力 近年来，伴随 经济环境变化和产业发展迭代 ， 传统 投资 研究模式 面临一定挑战，打造适应时代要求的投资研究体系成为行业共识。数字金融为投 研体系的升级提供强大的技术支撑和数据基础。 泰康资产 通过 "人+AI+数据+平台"的深度融合 ，成为资管机构投研体系数智化迭代升级的成功案例。公司 投研团队和科技团队组成数智化投研小 组，支持宏观、固收、权益等投资研究体系的线上沉淀和迭代，形成 "宏观-中观-微观"数字化研究体系， 全力支持 构建穿越大周期的投研能力。 此外 ，泰康资 ...

Core Viewpoint - The resignation of Hu Ziqiang as chairman of Wandong Medical marks a significant personnel change, indicating Midea Group's deeper strategic integration in the medical sector since acquiring Wandong Medical in 2021 [1][5]. Group 1: Leadership Changes - Hu Ziqiang resigned due to personal reasons and performance decline, with his departure being the second major personnel adjustment since Midea's acquisition [1][5]. - The new chairman, Ma Chibing, has over 20 years of experience at Midea Group and emphasizes an "AI + Medical" strategy [5][6]. Group 2: Financial Performance - Wandong Medical's 2024 total revenue is projected at 1.524 billion yuan, a year-on-year increase of 23.26%, while net profit is expected to decline by 16.54% to 157 million yuan [5]. - The company's gross margin has decreased by 5.52 percentage points, reflecting challenges in maintaining profitability [5]. Group 3: Strategic Direction - Midea Group has elevated "Health Care" to a core business segment, alongside smart home and industrial technology, indicating a strategic shift towards ecosystem building rather than just equipment manufacturing [6][9]. - Wandong Medical aims to position itself as a provider of "Chinese solutions" in the global medical imaging field, moving away from merely replicating competitors [7][9]. Group 4: Market Challenges and Opportunities - The company faces declining sales in its main DR products, with shipments dropping from 1,800 units to 1,272 units, a nearly 30% decrease [9]. - Despite challenges, Wandong Medical's new "helium-free" MRI technology is gaining attention, with significant advancements in imaging speed and cost efficiency [11][12]. Group 5: Global Expansion - Wandong Medical's international sales have increased, with overseas revenue rising from 12% in 2021 to 28% in 2024, reflecting a successful global strategy [12].

Group 1 - Aerospace Electronics disclosed two investment projects totaling 670 million yuan, with a focus on enhancing its subsidiaries' capabilities [1][2] - The first project involves the construction of an intelligent perception industrial base by Aerospace Long March Rocket Technology Co., Ltd., with a total investment of 250 million yuan and a construction period of 24 months [1][2] - The project will include a digital simulation computing network center and supporting facilities, covering an area of 16,800 square meters [1] Group 2 - Aerospace Long March Rocket Technology Co., Ltd. aims to optimize its resource distribution across multiple locations in Beijing to improve research and production efficiency [2] - The second project involves Aerospace Times Feihong Technology Co., Ltd. planning to invest 420 million yuan in the second phase of the Yanqing drone equipment industrial base [2][3] - The Yanqing drone equipment industrial base's first phase had a total investment of 832 million yuan, with 340 million yuan already invested as of April 2025 [3]

Core Viewpoint - The company, Inner Mongolia Yili Industrial Group Co., Ltd., is undergoing capital adjustments for its wholly-owned subsidiaries to enhance the efficiency of fundraising and ensure the smooth implementation of investment projects [2][3][6]. Fundraising Basic Situation - The company completed a non-public issuance of shares on December 9, 2021, raising a net amount of RMB 2,000 million after deducting issuance costs of RMB 6,284,207.02 [2][3]. Use of Remaining Fundraising - The company plans to allocate RMB 1,089.50 million of the remaining funds from completed projects, with RMB 689.00 million for AI and safety capability upgrades, RMB 60.00 million for digital equipment upgrades at the Dulun factory, and RMB 341.85 million for working capital [3][4]. Capital Adjustment Details - The company intends to reduce the capital of its subsidiary, Jinhao Yili, by RMB 749.00 million and increase the capital of another subsidiary, Dulun Yili, by RMB 60.00 million [4][5]. Financial Data of Subsidiaries - As of December 31, 2024, Jinhao Yili reported total assets of RMB 4,066.99 million and net assets of RMB 3,947.23 million, with a net profit of RMB 288.42 million [5][6]. - Dulun Yili reported total assets of RMB 203.21 million and net assets of RMB 68.51 million as of December 31, 2024, with a net profit of RMB 1.38 million [5][6]. Impact of Capital Adjustment - The capital adjustments are aligned with the fundraising plan and are expected to improve the efficiency of fund usage, ensuring the successful implementation of investment projects [6][7]. Fundraising Special Account and Supervision Agreement - The company has established a special fundraising account and signed a tripartite supervision agreement with the sponsor and a bank to enhance the management and oversight of the fundraising [6][7][8]. Approval Procedures - The board of directors and the supervisory board have approved the capital adjustments and the establishment of the special fundraising account, confirming compliance with relevant regulations and the protection of shareholder interests [12][13].

新智认知数字科技股份有限公司 会议资料 二〇二五年五月 会议议案 听取事项 参 会 须 知 各位股东及股东代表： 为维护股东的合法权益，确保新智认知数字科技股份有限公司（以下简称"公 司"、 "新智认知"）2024 年年度股东大会的顺利召开，保障股东在会议期间依法 行使权利，依据有关法律法规以及《新智认知数字科技股份有限公司章程》（以 下简称"《公司章程》"）等有关规定，制定会议须知如下： 一、股东大会设会务组，由公司董事会办公室具体负责会议有关程序安排和 会务工作。 二、股东大会以现场会议的形式召开，并采取现场、网络相结合的方式投票。 三、为保证股东大会的严肃性和正常秩序，切实维护与会股东及股东代表的 合法权益，除出席会议的股东及股东代表、公司董事、监事、高级管理人员、公 司聘请的见证律师及董事会邀请的人员外，公司有权依法拒绝其他人员进入会场。 四、各股东请按照本次股东大会会议通知中规定的时间和登记方法办理参加 会议手续（详见公司刊登于上海证券交易所网站（www.sse.com.cn）的《新智认 知数字科技股份有限公司关于召开 2024 年年度股东大会的通知》（公告编号： 请按规定出示股票账户卡、身份证或法 ...

Investment Rating - The report maintains a "Buy" rating for the company with a target price of 16.80 CNY based on a 24x PE for 2025 [2][4]. Core Views - The company's revenue for 2024 is projected to decline by 9.0% year-on-year, with a significant drop in net profit expected to be -3.57 billion CNY, reflecting a 216.2% decrease compared to the previous year [8]. - The first quarter of 2025 shows a revenue decline of 20.45% year-on-year, with a net profit of -0.21 billion CNY, indicating a 190.66% decrease [8]. - The company is focusing on improving operational efficiency and has achieved a gross margin of 26.39% in Q1 2025, which is an increase of 0.86 percentage points year-on-year [8]. Financial Performance Summary - **Revenue Forecast**: - 2023: 13,408 million CNY - 2024: 12,196 million CNY (down 33.9%) - 2025: 12,751 million CNY (up 4.5%) - 2026: 13,389 million CNY (up 5.0%) - 2027: 14,304 million CNY (up 6.8%) [3][10] - **Net Profit**: - 2023: 307 million CNY - 2024: -357 million CNY (down 78.6%) - 2025: 435 million CNY (up 221.7%) - 2026: 633 million CNY (up 45.6%) - 2027: 881 million CNY (up 39.1%) [3][10] - **Earnings Per Share (EPS)**: - 2023: 0.49 CNY - 2024: -0.57 CNY - 2025: 0.70 CNY - 2026: 1.01 CNY - 2027: 1.41 CNY [3][10] - **Gross Margin**: - 2023: 31.3% - 2024: 28.0% - 2025: 28.5% - 2026: 29.0% - 2027: 29.5% [3][10] - **Net Margin**: - 2023: 2.3% - 2024: -2.9% - 2025: 3.4% - 2026: 4.7% - 2027: 6.2% [3][10] Strategic Initiatives - The company is enhancing its diagnostic services, with a revenue of 45.20 billion CNY in 2024, a decrease of 12.86% year-on-year, while focusing on key clients and diseases [8]. - The introduction of AI technology is being accelerated, with the launch of the "Dian Medical Inspection Big Model" in collaboration with Huawei Cloud [8].

致同咨询交易支持服务联席主管合伙人刘波揭示了民营企业价值跃迁的底层逻辑。在刘波看来，新 质生产力将为民营经济带来范式变革，促进民营经济从生存竞争转向价值创造。企业层面，数据、技 术、人才三位一体的创新体系需要关注；政策层面，优化制度供给，降低创新试错成本，可让民营经济 有更多动力去做长时间研发；生态层面，通过跨界合作、产业链并购、兼并重组等优化资源配置，并开 放更多的创新网络，让民营经济在未来十年、二十年甚至更长的时间里获得更好的发展。 致同审计合伙人张丽雯分享民营企业国际化经营中的合规保障与价值创造。她通过典型案例分析指 出，企业在跨国供应链建设中，都会面临"当地代理"与"自主建设"的战略选择，需综合考虑物流成本、 管理效率等多重因素。从财务角度出发，要以成本最低化、毛利最大化来设计，但实际上，从无到有的 过程中，只要符合预期的性价比，就是民营企业走向国际市场的最大动力。 民营经济促进法自5月20日起施行，为民营经济高质量发展注入了强劲法治动力。在新法实施的背 景下，民营经济如何进一步实现跃迁式发展？近日，在致同会计师事务所举办的"民营经济新质跃迁的 多维赋能"研讨会上，多位合伙人针对民营经济、民营企业高质 ...

一、科技创新：AI与数据驱动，打造智慧保险新范式 当前，在数字经济与科技浪潮的推动下，中国保险经纪行业正经历一场深刻变革。作为互联网保险领域 的先行者，天天有保始终以科技创新为核心驱动力，以用户需求为导向，通过AI、大数据分析及数智 化转型重塑行业生态，同时践行透明、可持续的绿色发展理念，成为保险经纪行业高质量发展的标杆企 业。 二、绿色发展理念：透明化服务，构建可持续新保险生态 天天有保深信，真正的行业革新不仅需要技术突破，更需坚守社会责任与可持续发展理念。通过推动服 务透明化、资源集约化，公司为行业注入"绿色基因"，引领保险业向更健康、更公平的方向进化。 五大透明原则，重塑行业信任 在传统保险经纪行业面临效率瓶颈与同质化竞争日益严重的背景下，天天有保率先投身数智化转型之 路，以"AI+数据"为核心构建起全链路的智慧服务体系，推动保险服务从"经验驱动"向"科技驱动"跃 迁。 AI技术赋能，全流程服务 天天有保自主研发的"AI+智能化数字投放技术"彻底颠覆传统保险经纪模式。通过机器学习与自然语言 处理技术，平台能够精准识别用户需求，实现从风险分析、产品匹配到保单管理的全流程自动化。例 如，用户仅需在线提交基础 ...

近日，嘉银科技(JFIN.US)推出自主研发的"伏羲"模型管理平台，依托强大的模型管理能力和智能算法 技术，深入挖掘模型和数据的应用潜力，高效处理海量数据（603138）、优化模型训练，确保模型的高 效、稳定运行，促进模型性能提升，赋能业务降本增效，推动企业数智化转型。 "伏羲" "伏羲"作为华夏民族人文始祖，象征着智慧和开创精神。嘉银科技以此命名自研智能模型管理平台，寓 意着在大模型时代，企业在模型管理能力上实现新突破。"伏羲"模型管理平台提供全栈式解决方案，助 力建模人员和开发人员快速、轻松地构建和训练机器学习模型，大幅降低模型开发门槛，提升开发效 率。 "伏羲"与企业数仓、大数据平台无缝对接，实现离线模型信息集中化管理、效果评估以及模型数据高效 治理，确保模型能够安全、高效地部署到生产环境中。目前，"伏羲"平台已在客服、风控、营销等多个 重要业务场景深度应用，覆盖90%业务线，构建起智能决策矩阵，模型部署效率大幅提升300%，模型 数据预处理效率、模型稳定性、模型任务执行速度均实现显著提高。 依托特征中心强大的数据处理和在线服务能力，"伏羲"平台在模型资产管理、模型服务管理和模型监控 等方面表现出色，实 ...

内容提要 在管理部门的指导下，近年来商业银行致力于汇率避险业务的数字化和智能化转型。文章探讨了当前银行汇率避险业务数智化转型面临的挑战，并就如何通 过持续优化汇率避险业务流程、丰富汇率避险产品体系、全面提升汇率市场的做市能力来不断提升商业银行在汇率避险服务方面的质量和效率进行了思考。 一、银行汇率避险业务数智化转型现状 （二）预测性敞口的汇率套保需要数智化赋能 在汇率风险套保管理的实际操作中，不同行业企业因其业务特性的差异，会面临形式各异的汇率风险敞口识别困难。银行利用数字化和智能化的宣传手段， 显著提升了企业对汇率风险中性理念的认知。然而，对于那些存在潜在汇率风险敞口但尚未确定是否采取，以及如何采取汇率套保的企业，面临预估预测性 套保敞口的困难。这种情况在大型海外项目的交易中尤为常见，企业虽未正式签订合同，但未来交易发生的可能性极高。预测性敞口的识别、归集和管理， 成为银行在推进避险业务数字化转型过程中需要重点攻克的难题之一。 自"8·11"汇改以来，主要外币兑人民币即期汇率弹性显著增强，其隐含波动率与汇率振幅均呈现出明显的上升趋势。这一变化趋势使得涉外企业的汇率避险 需求持续攀升，也促使商业银行更加积极地 ...