Group 1 - The National Standardization Administration and the Ministry of Industry and Information Technology have issued a plan to establish a high-quality standard system for industrial mother machines by 2026, aiming to enhance product quality and equipment upgrades through high-level standards [2] - The Shanghai Futures Exchange will expand the range of products available for qualified foreign institutional investors starting September 10, 2025, including new futures and options contracts for petroleum asphalt and fuel oil [2] - The National Healthcare Security Administration is promoting the direct issuance of maternity allowances to individuals, with 20 provinces implementing this system, covering nearly 80% of the coordinated areas [3] Group 2 - Guizhou Moutai's controlling shareholder increased holdings by 67,821 shares on September 1 [5] - BYD's new energy vehicle sales reached 373,600 units in August [5] - Chengdu Huami released a 40G high-precision RF direct ADC chip [5] - JD Group made a voluntary public acquisition offer to CECONOMY [5] - Sichuan Jinding's subsidiary obtained a mining license [6] - Su Dawei plans to acquire up to 51% of Changzhou Weipu [6]

Core Viewpoint - The company, Jishi Media (601929.SH), has not identified any undisclosed significant information that could materially affect its stock trading price, despite media discussions regarding its business related to computing power and "State-owned Cloud" concepts [1] Group 1: Business Overview - The company's main business segments include smart broadcasting, data services, and digital innovation services, and it does not engage in the trending concepts mentioned in media discussions [1] Group 2: Investor Advisory - The company advises investors to be cautious regarding investment risks, given the ongoing discussions in media and online platforms about its business [1]

Core Viewpoint - The company, Jishi Media (601929.SH), issued a risk warning announcement stating that it has not identified any undisclosed significant information that could materially affect its stock trading price, despite media discussions regarding its business related to computing power and "State-owned Cloud" concepts [1] Group 1: Company Operations - The company's main business segments include smart broadcasting, data services, and digital innovation services [1] - The company clarifies that it does not engage in the trending concepts mentioned in media discussions [1] Group 2: Investor Advisory - The company advises investors to be cautious regarding investment risks, particularly in light of the ongoing discussions in media and online platforms [1]

证券代码：688661 证券简称：和林微纳 编号：2025-043 苏州和林微纳科技股份有限公司 关于 2021 年度向特定对象发行股票部分募投项目延 期并重新论证可行性的公告 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。 苏州和林微纳科技股份有限公司（以下简称"公司"）于 2025 年 9 月 1 日 召开的第三届董事会第二次会议审议通过了《关于 2021 年度向特定对象发行股 票部分募投项目延期并重新论证可行性的议案》。结合目前公司 2021 年度向特 定对象发行股票募投项目的实际进展情况，董事会同意公司在保持募投项目的实 施主体、投资总额和资金用途等均不发生变化的情况下，根据募投项目当前的实 际建设进度，将公司 2021 年度向特定对象发行股票募投项目未结项部分"MEMS 工艺晶圆测试探针研发量产项目"及"基板级测试探针研发量产项目"的预定可 使用状态日期分别延长至 2027 年 9 月和 2025 年 12 月。本议案不涉及募集资金 用途变更，无需提交股东大会审议。现将相关情况公告如下： 一、募集资金基本情况 根 ...

Core Viewpoint - The stock of Jishi Media (601929) has experienced significant price fluctuations, with a cumulative increase of 159.59% from August 1 to September 1, raising concerns about potential trading risks [1] Group 1: Stock Performance - The stock price of Jishi Media saw a cumulative deviation of 20% over three consecutive trading days from August 27 to August 29 [1] - The closing price on September 1 was significantly higher compared to the closing price on August 1, indicating a strong upward trend [1] Group 2: Business Focus - Jishi Media's main business areas include smart broadcasting, data services, and digital innovation services, which do not involve trending concepts such as computing power or state-owned cloud services [1] - The company has noted discussions in media and online platforms regarding its business, but clarifies that its operations are not related to these hot topics [1]

投资者关系活动记录表 证券代码：002123 证券简称：梦网科技 3.希望公司领导能找到新的业绩增长点，不要让广大股东 失望。 | 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（请文字说明其他活动内容） | | | 线上参加公司关于召开终止发行股份及支付现金购买资产并募集配 | | 参与单位名称及人员姓名 | 套资金暨关联交易事项投资者说明会的全体投资者 | | 时间 | 2025年09月01日 16:00-17:00 | | 地点 | 价值在线（https://www.ir-online.cn/）网络互动 | | | 董事长 余文胜 | | | 副总裁、职工董事、董事会秘书 马立 | | 上市公司接待人员姓名 | 标的公司杭州碧橙数字技术股份有限公司董事长 冯星 | | | 独立财务顾问主办人 杨日盛 | | | 详细问答内容可通过价值在线（www.ir-online.cn）或易 | | | 董app查看。 | | 投资者关系活动主要内容 ...

- Model Name: Diffusion Index Model; Construction Idea: The model is based on the principle of price momentum, capturing industry trends through diffusion indices; Construction Process: The model tracks the weekly and monthly performance of various industries, calculating the diffusion index for each industry. The formula for the diffusion index is not explicitly provided in the report; Evaluation: The model has shown varying performance over the years, with significant drawdowns during market reversals[25][26][29] - Model Name: GRU Factor Model; Construction Idea: The model leverages GRU (Gated Recurrent Unit) deep learning networks to process minute-level volume and price data, aiming to capture trading information; Construction Process: The model ranks industries based on GRU factors, which are derived from the deep learning network's analysis of trading data. The specific formula for GRU factors is not provided in the report; Evaluation: The model has struggled to capture excess returns in a focused market environment, particularly in 2025[32][33][37] Model Backtest Results - Diffusion Index Model, Average Weekly Return: 2.97%, Excess Return over Equal-Weighted Index: 1.94%, August Excess Return: 4.54%, Year-to-Date Excess Return: 5.08%[29] - GRU Factor Model, Average Weekly Return: 1.85%, Excess Return over Equal-Weighted Index: 0.93%, August Excess Return: -2.53%, Year-to-Date Excess Return: -7.65%[37] Factor Construction and Evaluation - Factor Name: Diffusion Index; Construction Idea: The factor is constructed based on the momentum of industry prices, capturing the upward or downward trends; Construction Process: The diffusion index is calculated weekly and monthly for each industry, ranking them accordingly. The specific calculation method is not detailed in the report; Evaluation: The factor has shown mixed performance, with significant drawdowns during market reversals[25][26][29] - Factor Name: GRU Factor; Construction Idea: The factor is derived from GRU deep learning networks analyzing minute-level trading data; Construction Process: The GRU factor ranks industries based on the network's analysis, with higher ranks indicating stronger trading signals. The specific calculation method is not detailed in the report; Evaluation: The factor has struggled to capture excess returns in a focused market environment, particularly in 2025[32][33][37] Factor Backtest Results - Diffusion Index Factor, Top Industries: Comprehensive (1.0), Nonferrous Metals (0.973), Communication (0.971), Banking (0.965), Media (0.945), Retail (0.916)[26] - GRU Factor, Top Industries: Petroleum and Petrochemical (3.38), Non-Banking Financial (3.16), Retail (2.59), Food and Beverage (1.29), Electric Power and Utilities (0.21), Coal (0.16)[33]

今日（9月1日），CPO板块再度活跃，截至收盘，源杰科技、腾景科技、汇绿生态、旭光电子、华工科 技涨停。同时，板块"三杰"新易盛、中际旭创、天孚通信也涨幅明显，分别达9.07%、14.42%、 11.90%，且三股均创历史新高。 | 全部A股 沪深A股 | 沪市A股 | 深市A股 北京A股 | 创业板 | 科创版 | 风险警示 | 退市整理 共封装光学(CPO) ▼ | | 地域 ▼ | 行业 ▼ 指标股 ▼ | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | સ્દર્શત | 名称 | SEMBER | HIGH | 深层 | 2016 | 成交额 | 换手% | 总书馆 | 涨停状态 所属行业 | | 688498 ■ 限 源:科技 | | +20.00% | 358.80 | 59.80 | 0.00 | 17.60亿 | 8.78% | 308.38亿 | 草板 出合体 | | 2 688195 ■ 膳 腾景科技 | | +20.00% | 85.50 | 14.25 | 0.00 | 11.29亿 | 11.19% | ...

Group 1 - The core viewpoint is that AI's impact is expanding beyond technology companies, reshaping the economy similarly to the mobile internet, with significant opportunities for "AI+" sectors [1] - AI is expected to greatly enhance the operational efficiency of traditional industries and fundamentally alter productivity and production relationships in the economy and society [1] - Investors are actively seeking companies that can effectively leverage AI for intelligent upgrades to enhance their core competitiveness, regardless of whether they are in the tech sector or traditional industries [1] Group 2 - Domestic tech giants are maintaining a proactive yet steady pace in AI investment compared to overseas counterparts, focusing on rapid technology adoption while having advantages in commercialization and monetization efficiency [2] - Some AI products from domestic companies are already generating substantial revenue, with AI tools for short video platforms and AI-driven precision marketing contributing to incremental income [2] - The computing power sector is experiencing a boom, with opportunities emerging in sub-sectors like optical communication, PCB, and liquid cooling, while humanoid robots and low-altitude economy fields like autonomous taxis and eVTOLs are expected to see significant growth [2]

Core Viewpoint - The AI sector, particularly the upstream hardware represented by optical modules, is experiencing significant growth, with the ChiNext AI index rising over 90% year-to-date, outperforming other AI indices [2][3]. Market Performance - The ChiNext AI index has seen a remarkable increase of over 90% since the beginning of the year, significantly outperforming the CSI AI and other similar indices [2]. - Major companies in the optical module sector, such as Yizhongtian, Zhongji Xuchuang, and Tianfu Communication, have reported substantial stock price increases, with gains exceeding 14%, 11%, and 9% respectively [1]. Investment Trends - The total capital expenditure by cloud service providers (CSPs) is projected to reach approximately $600 billion this year, with the Chinese market expected to account for around $50 billion and grow at an annual rate of about 50% [5]. - The ChiNext AI ETF (159363) has seen strong performance, with a daily average trading volume exceeding 500 million yuan and a total net subscription of 1.9 billion units, indicating robust investor confidence in the AI sector [6]. Earnings Performance - As of August 31, 30 out of 50 disclosed companies in the ChiNext AI index reported positive net profit growth, driven by high demand for AI and computing power [5]. - Notable profit growth was observed in companies like Xinyi Sheng and Ruijie Networks, with net profit growth rates exceeding 355% and 194% respectively [5]. Valuation Insights - Analysts suggest that the current valuation of companies in the communication AI sector remains relatively low, with expected future valuations in the range of 20-30x based on consensus earnings forecasts [5].