证券代码：301631 证券简称：壹连科技 深圳壹连科技股份有限公司 投资者关系活动记录表 编号：2025-002 投资者关系活动 类别 特定对象调研 □ 分析师会议 □ 媒体采访 业绩说明会 □ 新闻发布会 □ 路演活动 现场参观 □ 其他 参与单位名称与 人员姓名 民生证券 席子屹、嘉实基金 孙帅、景顺长城 王卫秦 时间 2025 年 7 月 23 日 地点 深圳市宝安区大华路 1 号深圳壹连科技股份有限公司五楼会议室 上市公司接待人 员姓名 董事会秘书 郑梦远先生 投资者关系 曾祎昀女士 投资者关系活动 主要内容介绍 一、 公司介绍 深圳壹连科技股份有限公司，创始于 1991 年，是一家集研发、 设计、生产、销售、服务于一体的电连接组件产品及解决方案提 供商。公司自设立以来始终秉承"壹心壹意、电连世界"的发展 宗旨，依托行业先发优势，深耕电连接组件领域，目前已在广东 深圳、广东肇庆、福建宁德、江苏溧阳、四川宜宾、浙江乐清、 吉林长春及斯洛伐克等海内外多地建有生产基地。主要产品涵盖 电芯连接组件、动力传输组件、低压信号传输组件、柔性线路板 等各类电连接组件，形成了以新能源汽车为发展主轴，储能系统、 工业设 ...

作为第8届中国（鄂尔多斯）国际羊绒羊毛展览会的重要配套活动，此次会议旨在深入践行新发展理 念，探讨全产业链协同创新及绿色低碳与可持续发展路径方向，持续增强行业发展内生动力，推动羊绒 产业绿色化、智能化转型，实现羊绒产业高质量发展。 本报讯 （记者徐建华 实习记者徐雅臣）"我国毛纺织业正处于转型升级与优势再造关键期，高质量发展 是必由之路，需契合'科技、时尚、绿色、健康'方向及市场对'价格、质量、可持续、可追溯'的要 求。"在7月18日于内蒙古自治区鄂尔多斯市召开的2025中国羊绒产业高质量发展大会上，中国纺织工业 联合会副会长杨兆华如是说。 据悉，第8届中国（鄂尔多斯）国际羊绒羊毛展览会聚焦科技创新与产业创新深度融合，助推鄂尔多斯 羊绒羊毛产业深度融入全球价值链新格局。本届展会设置了国际贸易、装备与科技、面料纱线等六大展 区，以及研讨交流、时尚发布、成果展示三大中心，吸引了来自英国约翰斯顿·埃尔金、法国埃里克·邦 帕尔、意大利维切利等10个国家的30余家国际知名企业展团，鄂尔多斯集团、上海恒源祥等7家国内头 部企业，浙江濮院、河北清河产业集群和内蒙古本土产业集群等近200家参展商，以及220多家采购商参 与展 ...

Investment Rating - The report suggests a long-term allocation value for the North Exchange, focusing on sectors with high growth potential such as robotics, ultra-high voltage, and autonomous driving [3][4][33]. Core Insights - The North Exchange market experienced a trading volume of 34.1 billion yuan on July 23, 2025, a decrease of 1.82 billion yuan from the previous trading day, with the North Exchange 50 Index closing at 1435.74, down 1.58% [1][8]. - The report highlights the ongoing construction of the Yarlung Zangbo River downstream hydropower project, a super project with a total investment of 1.2 trillion yuan, which is expected to stimulate the infrastructure industry chain [3][19]. - The report emphasizes the importance of the upcoming mid-year performance announcements, suggesting that companies with high growth and clear capacity releases will likely recover first [3][19]. Summary by Sections Market Review - On July 23, 2025, the North Exchange A-share trading volume reached 34.1 billion yuan, with the North Exchange 50 Index closing at 1435.74, reflecting a PE_TTM of 67.65 times [1][8]. - Among 268 companies listed, 48 saw an increase in stock prices, while 218 experienced declines, with notable gainers including Hengli Drilling Tools (30.0%) and Baijia Technology (17.2%) [1][16]. Important News - The Ministry of Commerce announced that Vice Premier He Lifeng will visit Sweden from July 27 to 30 for trade talks with the U.S., aiming to implement the consensus reached by the two countries' leaders [19][20]. Key Company Announcements - Ming Shida reported a revenue of 237 million yuan for the first half of 2025, marking a year-on-year increase of 27.91%, with a net profit of 63 million yuan, up 42.28% [21][28]. - Liujin Technology's board authorized the use of up to 150 million yuan of idle funds for low-risk financial investments [21][22].

7月22日，以"零米聚能 见证中国力量"为主题的奇瑞商用车零米轻卡聚能版上市发布会，在 成都盛大举行。成都市冷链物流商会秘书长杨阳，奇瑞商用车开瑞控股副总经理兼轻商营销公 司总经理李杰，奇瑞商用车大客户与专用车营销中心总经理张德贵，奇瑞商用车零米轻卡营销 公司总经理朱和义，奇瑞商用车轻商总经理助理兼零米轻卡营销副总经理吕凤仙等公司领导， 宁德时代代表，英威腾代表，以及数十家行业头部媒体，成都区域零米轻卡分销商代表，零米 轻卡功勋客户等200余位嘉宾齐聚现场，一同开启中国新能源轻卡在效能、能耗与续航领域的 突破性发展新阶段，且现场达成订单317辆！"满趟多省十度电，一度更比一度长"直击用户价 值核心。 国家战略与城市使命：驱动"每一度电"释放新质生产力 发布会紧扣"聚能"核心，直面中国物流运输行业痛点，通过技术革新、产品升级与生态共建， 旨在重塑纯电轻卡价值标杆。 成都市冷链物流商会秘书长杨阳在致辞中表示，成都作为国家战略核心节点，肩负重要民生保 障责任，零米轻卡聚能版的技术突破和对用户价值的聚焦，不仅能解决行业痛点，更为从业者 带来新的发展可能。 奇瑞商用车开瑞控股副总经理兼轻商营销公司总经理李杰，以"专注4 ...

Investment Rating - The report does not explicitly provide an investment rating for the cloud computing industry Core Insights - Cloud computing is a critical infrastructure in the AI era, facilitating the deep integration of AI into various industries and driving the digital economy forward [7][8] - The global cloud computing market is projected to reach nearly $2 trillion by 2030, with a significant contribution from AI applications [8][20] - China's cloud computing market is expected to exceed 3 trillion yuan by 2030, driven by the integration of quantum computing, blockchain, and AI [9][45] Summary by Sections Global Cloud Computing Development Overview - Countries are accelerating cloud computing strategies to enhance competitiveness in the AI era, with the US investing over $100 billion in cloud infrastructure since 2018 [14][15] - The global cloud computing market is experiencing stable growth, with a market size of $692.9 billion in 2024, reflecting a year-on-year growth of 20.3% [19][20] - Cloud computing technologies are continuously integrating, becoming the engine for innovative development across various sectors [27] China's Cloud Computing Development Overview - China's cloud computing market reached 828.8 billion yuan in 2024, growing by 34.4% year-on-year, with public cloud services accounting for 621.6 billion yuan [45][46] - The integration of AI with cloud computing is becoming a key driver for market growth, with significant advancements in IaaS and SaaS sectors [48][51] - The dual drive of "cloud + AI" is accelerating the adoption of intelligent applications across industries, with a focus on government and transportation sectors [52][56] Cloud Computing Driving Service Paradigm Innovation - New service models such as AIIaaS, AIPaaS, and AIMSP are emerging, reflecting the evolution of cloud services towards AI integration [9][24] - The concept of "one cloud, multiple calculations" is gaining traction, allowing for efficient resource management and data integration across various computing needs [29][30] - The cloud excellence architecture is helping enterprises optimize their cloud usage, focusing on security, stability, and operational efficiency [34][35] Development Outlook - The report emphasizes the importance of cloud computing in supporting the digital transformation of traditional industries, with a focus on enhancing operational efficiency and service quality [57][58] - The integration of cloud computing with AI technologies is expected to create new business models and enhance the overall productivity of various sectors [36][38]

广东银行保险业上半年成绩单出炉。 7月24日，21世纪经济报道记者在广东银行业保险业2025年上半年新闻通气会上获悉，广东银行业资 产、负债、存贷款，保险业资产、保费收入和承保利润等规模指标持续稳居全国第一，为广东经济增长 提供充足的融资支持和风险保障。 信贷指标回升向好 银行业而言，截至6月末，广东银行业总资产41.2万亿元、总负债40万亿元，分别同比增长5%、 5.14%，高于同期GDP增速。各项贷款余额29.23万亿元、各项存款余额32.15万亿元，分别同比增长 5.05%、6.99%，增速均较一季度有所提高。 其中，广东金融监管局辖内（不含深圳，下同）银行业资产总额27.22万亿元，同比增长5.71%。各项贷 款余额19.4万亿元，同比增长5.88%,较年初增加9067.57亿元，其中超七成为中长期贷款。银行业债券投 资2万亿元。各项存款余额21.94万亿元，同比增长7.12%。 保险经营"逆势上扬" 保险业而言，截至6月末，广东保险业总资产2.66万亿元，比年初增长6.36%；1-6月，保费收入4616亿 元，同比增长5.53%，高于全国0.46个百分点。其中浮动收益型的分红险保费收入734亿元，同 ...

优化产业布局。大学科技园立足科研优势，推动12所高校与企业合作，提供源源不断的技术支撑。创新 谷立足新质生产力，规划建设3个千亩产业园，重点布局生物医药、新能源汽车及低空经济等新兴产 业。济南经济开发区立足新动能，盘活闲置土地，加快数字化转型升级，优化提升传统制造业。各街镇 立足"专精特新"，为主导产业配套服务，打造特色产业集群。 加大项目建设。长清区聚焦"3+2"产业体系，精准绘制产业招商图谱，建立"靶向式"项目谋划招引机 制，今年以来共招引谋划工业项目62个，总投资213亿元。落实"四抓四提升"要求，以全流程项目服务 推进项目落地，近三年滚动实施工业项目200余个，累计完成工业投资117亿元，年均增长42%。大力推 进新产品、新技术、新工艺研发，实施工业技改项目125个，完成技改投资65.4亿元，年均增长137%。 工业投资和技改投资在固定资产投资的比重由三年前的12.5%提升到目前的31.5%，实现了由"基建驱 动"到"工业驱动"的华丽转变。 7月24日，济南市政府新闻办召开"深入实施工业强市发展战略"主题系列新闻发布会长清区专场，介绍 长清区推进工业强市发展战略的有关情况。记者在会上获悉，长清区创新谷 ...

7月24日，国家医疗保障局有关负责人出席国新办高质量完成"十四五"规划系列主题新闻发布会。记者 从会上了解到，"十四五"期间，基本医保参保率稳定在95%左右，2024年参保人数达13.27亿人；医保基 金安全稳健运行，累计结余3.86万亿元。医保基金在减轻民众就医负担、织密健康"安全网"的同时，通 过支持创新药快速纳入医保目录、支付方式改革等方式，有力促进了医疗、医药行业高质量发展与产业 升级转型，日益发挥出作为重要经济要素的作用。 "十四五"期间，各项医保改革发展任务圆满完成。国家医疗保障局局长章轲介绍，"十四五"期间，基本 医疗保险参保率稳定在95%左右，2024年度全国基本医保参保人数达到13.27亿人。基本医保参保长效 机制不断健全完善，医疗救助每年资助参保约8000万人。职工和居民住院费用目录内基金支付比例稳定 在80%和70%左右。职工医保门诊共济保障和普通门诊费用统筹保障机制全面建立。长期护理保险制度 试点深入推进，参保覆盖达1.9亿人。 医保基金的安全网不断织密扎牢，基金运行持续稳健。章轲指出，截至2024年年底，医保统筹基金累计 结余3.86万亿元。基金运行监测不断强化。基金监管体系全面建立 ...

点击链接→《 天天基金放大招了！狂撒百万体验金，真金白银等你来拿！ 》，在文章评论区 参与互动，有机会赢888元！ 近期，A股市场表现强劲。沪指自7月9日成功突破3500点后，连续9个交易日稳守 这一 关 口，且不断刷新年内高点。 7 月2 3 日 ，沪指、上证50 指数 等盘中突破3600、2800点，续写新篇章。 本轮指数突破有何独特之处？后续走势将如何展开？ 在基金公司看来，当前市场或仍处于上涨趋势中，不能轻易言顶。与以往相比，此次行情基 础更为扎实，市 场赚钱效应有望逐步扩散。 多因素驱动 此次行情基础更为扎实 业内认为，近期市场的上涨是多重利好因素共同推动的结果。 对于近期的上涨，长城基金认为有几个驱动因素：一是 " 反内卷 " 政策不断深化。 从 去年7 月 中央 政治局会议首次提到 " 反内卷 " 到现在已有一年时间，范围不断扩大，从上游资源 品、"新三样"到快递、航空等，而不是像上一轮供给侧改革主要集中在传统行业的去产能。 " 反内卷 " 政策的推出及执行，有望上修PPI和A股盈利预期。 二是世界级超级工程—总投资达1.2万亿元的雅鲁藏布江下游水电项目宣布开工，对顺周期板 块的情绪拉动较大，一 ...

1. Report Industry Investment Rating - The report does not explicitly mention the overall industry investment rating 2. Core Viewpoints of the Report - In Q2 2025, the overall market value of A - share holdings of active equity - oriented funds decreased, while that of H - share holdings increased. The industry concentration of the top heavy - stock holdings of equity - oriented funds decreased. The communication, non - bank finance, and media industries saw significant increases in allocation ratios, while the steel, food and beverage, and coal industries had large reduction ratios [4][6]. - The structure of the top heavy - stocks of active equity - oriented funds changed. The overall number of large - market - cap leaders decreased, and the holdings of sub - industry leaders increased. The new high - growth technology stocks related to AI emerged, while traditional large - cap white - horse stocks were significantly reduced [4]. - In terms of industry leaders, the communication, non - bank finance, media, agriculture, forestry, animal husbandry, and beauty care industries were significantly increased, while the steel, coal, real estate, social services, and food and beverage industries were significantly reduced [21]. - The report suggests focusing on four investment themes: communication and hardware upstream under AI diffusion, non - bank finance, new consumption in the Hong Kong stock market, and national defense and military industry [26] 3. Summary by Relevant Catalogs 3.1 2025Q2 Active Fund Heavy - Stock Holding Structure Overview - **A - share and H - share holdings changes**: In Q2 2025, the total market value of active equity - oriented fund heavy - stock holdings was 1736.2 billion yuan, a 1.66% QoQ decrease. A - share holdings decreased by 2.79% QoQ to 1394.8 billion yuan, while H - share holdings increased by 3.20% QoQ to 341.3 billion yuan. Due to the complex macro - economic environment and market volatility, funds faced redemption pressure and tended to reduce large - cap stocks with poor liquidity [6]. - **Industry concentration decline**: From Q1 to Q2 2025, the industry concentration of the heavy - stock holdings of equity - oriented funds decreased. CR3 decreased by 0.56 percentage points to 38.37%, and CR5 decreased by 4.18 percentage points to 51.18%. The top five industries in terms of holding market value remained the same, but the proportion of the electronics industry increased, while the other four industries decreased [4][7]. - **Structural adjustment of industry holdings**: In Q2 2025, 12 industries saw an increase in the total market value of holdings. The communication, non - bank finance, and media industries had large increases in allocation ratios, rising by 75.88%, 64.62%, and 38.37% respectively. The steel, food and beverage, and coal industries had large reduction ratios, decreasing by 46.32%, 26.16%, and 23.99% respectively [9] 3.2 Q2 Active Fund Top Heavy - Stock Tracking - **Change in the structure of top heavy - stocks**: In Q2 2025, the structure of the top 20 heavy - stocks of active equity - oriented funds changed. The large - market - cap leaders decreased, and the sub - industry leaders increased. The market value of the top 20 heavy - stocks accounted for 20.72% of all heavy - stocks, a 2% decrease from Q1 [12]. - **Changes in the top five heavy - stocks**: The top five heavy - stocks remained the same, but the overall holdings decreased. New high - growth technology stocks such as New Fiber Optic Technology and Inphi Corporation quickly rose in the rankings, while traditional large - cap white - horse stocks such as Luxshare Precision Industry, Midea Group, and Contemporary Amperex Technology were significantly reduced [4]. - **Hong Kong stock market adjustment**: In the Hong Kong stock market, AI and Internet media leaders were reduced, while the pharmaceutical and new consumption sectors that performed well in Q2 were significantly increased [18] 3.3 Q2 Industry Leader Heavy - Stock Tracking - **Industry leader allocation changes**: In Q2 2025, the communication, non - bank finance, media, agriculture, forestry, animal husbandry, and beauty care industries were significantly increased, while the steel, coal, real estate, social services, and food and beverage industries were significantly reduced [21]. - **Communication industry focus**: Driven by the booming demand for AI hardware, the communication industry became the focus of funds. The optical module sector, which benefits from the expansion of AI capital expenditure, was the main area for increasing communication heavy - stocks. The profitability of communication equipment is expected to continue to improve in the second half of the year [22]. - **Non - bank finance sector highlights**: The leaders of the non - bank finance sector attracted attention. The holdings of Ping An Insurance and CPIC increased by 55% and 41% respectively, and securities leaders such as Citic Securities and Huatai Securities also saw over 30% increases. The brokerage sector's performance is expected to continue to improve [23] 3.4 Investment Recommendations - **AI diffusion - related communication and hardware upstream**: The significant increase in the holdings of optical module leaders reflects that funds are extending from AI software to computing infrastructure. AI capital expenditure is expected to drive the performance of upstream sectors in the second half of the year [26]. - **Non - bank finance sector**: The concentrated increase in holdings of leaders such as Citic Securities and Ping An Insurance reflects the positive expectations of the market for the profitability improvement of the brokerage and insurance sectors. The non - bank finance sector is expected to achieve a resonance of valuation repair and performance recovery [26]. - **Hong Kong stock new consumption theme**: After the correction in the AI sector, funds refocused on consumption structure highlights, especially in the Hong Kong stock market. Sub - sectors such as pets, toys, and emotional consumption have become important directions for heavy - stock allocation [26]. - **National defense and military industry safety theme**: The significant increase in the holdings of core military stocks reflects the high attention of institutions to the "national security + high - end manufacturing" theme. The military industry has policy support, order growth, and mid - report performance improvement expectations, with medium - term allocation value [27]