Core Points - Vertex Software's stock price decreased by 2.02% on September 26, closing at 40.74 CNY per share, with a total market capitalization of 8.367 billion CNY [1] - The company has seen a year-to-date stock price increase of 10.41%, but has experienced declines of 1.88% over the last five trading days, 11.84% over the last twenty days, and 0.83% over the last sixty days [1] Financial Performance - For the first half of 2025, Vertex Software reported revenue of 246 million CNY, a year-on-year decrease of 7.97%, while net profit attributable to shareholders was 52.88 million CNY, reflecting an increase of 8.40% [2] - The company has distributed a total of 814 million CNY in dividends since its A-share listing, with 490 million CNY distributed over the past three years [2] Shareholder Information - As of June 30, 2025, the number of shareholders for Vertex Software was 21,800, a decrease of 10.92% from the previous period, with an average of 9,373 circulating shares per shareholder, an increase of 12.26% [2] - The top ten circulating shareholders include Hong Kong Central Clearing Limited, which holds 2.251 million shares, a decrease of 436,800 shares from the previous period, and Huashang New Trend Preferred Mixed Fund, which is a new entrant holding 1.2 million shares [2]

Group 1: Investor Relations Activities - The investor relations activity was a performance briefing held on September 25, 2025, via an online platform [2] - Key participants included the Secretary of the Board, Tang Qin, and the Chief Financial Officer, Yu Xuesong [2] Group 2: Key Investor Questions and Company Responses - The company emphasized the importance of intellectual property in wealth creation and plans to maximize its value [2] - Regarding the production of Metformin, the company holds relevant approvals and will decide based on market conditions [3] - The company acquired a U.S. firm for $73 million, and the ongoing litigation is complex, with efforts to expedite the process [3] - The company has 39,180 shareholders as of September 20 [3] - The company can participate in over 10 products for the 11th batch of centralized procurement [3] Group 3: Company Strategy and Future Plans - The company is cautious about project progress due to industry policy changes and will evaluate risks [3] - The company focuses on generic drugs and has no current plans to invest in innovative drugs or robotics [5] - Future development plans include participating in national drug procurement and optimizing product structure to enhance competitiveness [6] - The company will continue to manage investor relations and consider cash dividends as a way to return value to investors [6]

Group 1 - The stock price of Tom Cat increased by 2.00% on September 25, reaching 5.09 CNY per share, with a total market capitalization of 17.895 billion CNY [1] - The company has experienced a year-to-date stock price decline of 11.32%, with a 3.78% drop over the last five trading days and a 13.58% drop over the last 20 days [1] - Tom Cat's main business revenue composition includes advertising (72.41%), new commercial services (11.19%), mobile application distribution (10.70%), and other segments [1] Group 2 - As of June 30, the number of shareholders for Tom Cat increased to 268,400, with an average of 12,245 circulating shares per person [2] - For the first half of 2025, Tom Cat reported a revenue of 463 million CNY, a year-on-year decrease of 19.62%, and a net profit attributable to shareholders of -30.33 million CNY, a decline of 141.34% [2] - Since its A-share listing, Tom Cat has distributed a total of 248 million CNY in dividends, with no dividends paid in the last three years [3] Group 3 - As of June 30, 2025, the top ten circulating shareholders of Tom Cat include Southern CSI 1000 ETF, which holds 32.4725 million shares, an increase of 11.4036 million shares from the previous period [3] - Hong Kong Central Clearing Limited is the fourth largest circulating shareholder with 26.2054 million shares, an increase of 4.9059 million shares [3] - Other notable shareholders include Huaxia CSI 1000 ETF and GF CSI 1000 ETF, with significant increases in their holdings [3]

本报记者徐一鸣 曾长期受制于人力局限与流程僵化的传统制造业，宛如一台精密却缺乏弹性的老式钟表，运转效率与创 新空间备受制约。如今，在人工智能技术的深度赋能下，这一局面正发生颠覆性改变。 为期四天的2025世界制造业大会9月20日在安徽省合肥市开幕。《证券日报》记者参与大会并深刻感受 到，从检测精度实现毫米级突破到制造架构完成系统性重构，从企业效率的量化提升到产业格局的深度 重塑，中国制造业正以AI（人工智能）为创新之笔，书写着新型工业化的新篇章。 自主可控是智能制造的核心底色，在2025世界制造业大会上，以"知识产权与人工智能"为主题的对接会 在安徽合肥举行，旨在探索知识产权与人工智能深度融合新路径，推动制造业依托高价值知识产权实现 数智化转型升级。 例如，此次大会展示的"玻璃智能质检一体机"，其核心技术源自中国科学技术大学实验室的专利成果， 通过AI算法与工业场景的深度融合，成功解决了传统玻璃质检效率低、误差大的痛点，并已与多家企 业达成合作意向。 上海大学悉尼工商学院讲师王雨婷对《证券日报》记者表示，制造业AI智能体将成为企业重要财产， 其决策能力可逐步替代传统经验决策，企业需加强智能体研发与知识产权布局 ...

Core Insights - ASEAN countries have seen a 70% increase in patent applications over the past decade, indicating rapid growth in the field of intellectual property within the region [1] - The rise in patent applications is attributed to significant improvements in innovation capabilities among ASEAN member states [1] - Three ASEAN member countries have entered the ranks of the world's leading innovative nations [1] - Industrial design patent applications in ASEAN have increased by 80% in the last ten years, while trademark applications have risen by over 10% [1] - Currently, there are more than 50 unicorn companies in the ASEAN region [1]

Core Insights - ASEAN countries have seen a 70% increase in patent applications over the past decade, indicating rapid growth in intellectual property within the region [1] - The rise in patent applications is attributed to significant improvements in innovation capabilities among ASEAN member states [1] - ASEAN is focusing on intellectual property as a strategic support for economic growth, innovation, and regional integration, aiming for a transition to a high-value, innovation-driven economy by 2045 [1] Summary by Categories Intellectual Property Growth - Patent applications in ASEAN have increased by 70% in the last ten years [1] - Industrial design patent applications have risen by 80%, while trademark applications have increased by over 10% [1] - There are currently over 50 unicorn companies in the ASEAN region [1] Innovation and Economic Strategy - Three ASEAN member countries have entered the ranks of the world's leading innovative nations [1] - ASEAN is leveraging intellectual property as a catalyst for innovation, inclusivity, and sustainable growth [1] - The region aims to build a resilient, innovative, and people-centered organization by 2045 [1]

商务部等8部门《关于促进服务出口的若干政策措施》:优化外商投资企业人员、科研技术人员、高层次人才来华签证政策。有序扩大来华单方面免签政策适用国家范围；鼓励知识产权转化交易，支持银行对专利权等无形资产的研发提供贷款；研究探索形成全国自由贸易试验区数据出境负面清单。 ...

双方充分肯定工作组机制在加强交流、解决关注、深化合作方面的积极作用，同意继续深化沟通合作， 为促进中欧经贸关系发展作出更大贡献。 2025年9月16-17日，中欧知识产权工作组第二十八次会议在比利时布鲁塞尔召开。商务部条法司副司长 李明和欧盟委员会贸易总司知识产权处主任Agata GERBA共同主持会议，来自商务部、全国人大常委 会法工委、最高人民检察院、海关总署、市场监管总局、国家版权局、我驻欧盟使团等单位的代表，以 及欧盟委员会贸易总司、通讯总司、发展总司、税收和海关同盟总司及欧盟驻华代表团代表参加了会 议。 双方就各自知识产权立法、执法和司法最新进展进行了交流，并就经贸相关知识产权重点问题交换了意 见。会议期间，双方举行了政府与产业间圆桌会议，机电商会、奇瑞汽车、OPPO公司、雅迪集团、泡 泡玛特以及欧盟知识产权中小企业服务处、巴斯夫公司、瑞典工业联合会等产业界代表，就各自在贸易 投资中遇到的具体知识产权问题与双方政府部门进行了沟通和交流。 ...

Core Insights - The 2025 Specialized and Innovative Enterprises High-Quality Development Conference was held in Beijing, focusing on promoting collaboration among enterprises of various sizes and regions to foster "invisible champions" in niche markets and support China's modernization efforts [2] Group 1: Conference Highlights - The Beijing Specialized and Innovative Enterprises Chamber of Commerce aims to facilitate resource sharing, infrastructure development, and capability assurance to enhance enterprise growth [2] - The importance of technology and innovation was emphasized by Zhao Xuegang, Deputy Director of the Beijing Civil Affairs Bureau, who encouraged enterprises to take the lead in innovation [2] - Yang Jingguo, Vice Chairman of the Beijing Federation of Industry and Commerce, reported that the number of specialized and innovative enterprises in Beijing, along with their revenue and market capitalization, has surpassed 10,000, with over 1,000 national "little giant" enterprises [2] Group 2: Intellectual Property and Youth Initiatives - Meng Bo, Director of the Beijing Intellectual Property Bureau, highlighted that the city leads the nation in high-value invention patents, with over 370,000 patents and a per capita rate of 171.8 patents [2] - The conference also saw the unveiling of the "Beijing Specialized and Innovative Enterprises Chamber of Commerce Youth Working Committee" by former officials from the Ministry of Industry and Information Technology and the National Intellectual Property Administration [3] - A five-year plan called "Inheritance of the Flame" was announced to systematically cultivate young entrepreneurs in specialized and innovative fields [4]

Core Viewpoint - The stock price of Pulaike has experienced fluctuations, with a year-to-date increase of 8.94% but a recent decline over various trading periods, indicating potential volatility in the market [2]. Company Overview - Pulaike Bioengineering Co., Ltd. is located in Luoyang, Henan Province, established on June 22, 2002, and listed on May 18, 2015. The company primarily engages in the research, production, and sales of veterinary biological products, chemical drugs, and traditional veterinary medicine [2]. - The revenue composition of Pulaike includes: poultry vaccines and antibodies (41.19%), pig vaccines (32.25%), chemical drugs (21.37%), functional health products (1.79%), pet vaccines (1.38%), and other income sources [2]. Financial Performance - For the first half of 2025, Pulaike achieved operating revenue of 559 million yuan, representing a year-on-year growth of 15.79%. The net profit attributable to the parent company was 116 million yuan, reflecting a significant increase of 57.12% [2]. - Since its A-share listing, Pulaike has distributed a total of 1.057 billion yuan in dividends, with 500 million yuan distributed over the past three years [3]. Shareholder Information - As of June 30, 2025, Pulaike had 18,000 shareholders, an increase of 4.27% from the previous period. The average circulating shares per person decreased by 4.09% to 19,234 shares [2]. - Among the top ten circulating shareholders, the Guotai Zhongzheng Livestock Breeding ETF ranks as the seventh largest, holding 3.4499 million shares, an increase of 141,400 shares from the previous period [3].