麦浪滚滚，机声隆隆。在河南省鹤壁市淇县5G数字农业示范园，3000多亩高标准农田犹如金色的海洋，大型联合收割机在田间来回穿梭，呈 现出一幅喜人的现代农业丰收图景。 示范园内，田间部署了土壤墒情监测仪、气象站、病虫害监测设备等。它们就像"千里眼"和"顺风耳"，能够全方位采集田间土壤湿度、养分含 量、气象数据、病虫害等各类信息。 从麦浪间的机械轰鸣，到屏幕上跳动的实时数据，在这片农田里，传统农耕与现代科技交相辉映，看不见的"科技大脑"守护着粮食的收获。 据统计，衡水高新区已累计投入近亿元构建"技术帮扶-评级激励-智慧监管"体系，实现"超标预警-工艺优化"闭环，指导帮助60余家工程橡胶企 业完成了环保分级改造。 福建省永安市素有"笋竹之乡"美誉。近年来，永安市以数智化加快笋竹产业转型升级。在笋竹种植环节，通过智能传感器等设备，实时监测竹 林土壤温湿度等环境参数，实现智能化供水。产业加工向多元化发展，利用数控设备实现从手工到智能从人工到自动的转变，产品种类增多， 精度与质量明显改善，做到全竹利用。 在广西钦州市茅尾海立体智能综合监测基地，智慧水站正在从河道进行取水，自动开展水质五参数、总磷、总氮、高锰酸盐指数、氨氮等 ...

Group 1: Credit Record Care Day - The People's Bank of China established June 14 as "Credit Record Care Day" in 2008 to enhance public awareness of the credit system and promote the construction of a social credit system [1] - The 18-year journey has seen credit reports expand from the financial sector to areas such as job seeking and renting, becoming an "economic identity card" for individuals [1] - In 2024, the credit report query service provided by the People's Bank of China reached 6.7 billion times [1] Group 2: Consumer Finance Industry - By the end of 2024, the total assets of 31 licensed consumer finance companies reached 1.3 trillion yuan, playing a crucial role in the internal economy [1] - Consumer finance companies are essential for serving long-tail customer groups that traditional financial services often overlook due to limited information and weaker credit qualifications [1] - Leading consumer finance companies are focusing on enhancing their financial technology capabilities for better risk control and service efficiency [1] Group 3: Zhaolian Consumer Finance - Zhaolian Consumer Finance, established in 2015 by China Unicom and China Merchants Bank, pioneered a fully online business model, marking the beginning of the industry's digital transformation [2] - The "Zhaolian Zhilu" AI model has evolved to its second generation, demonstrating superior performance in financial data analysis, risk assessment, and market trend prediction [2] - Zhaolian has developed the "Fengyun" risk control system, covering the entire risk management process and effectively intercepting fraudulent activities [2] Group 4: Zhaolian's Inclusive Business Strategies - Zhaolian refers to long-tail customers as "individual fighters," reflecting the company's respect and care for this demographic [3] - In response to macroeconomic fluctuations and declining repayment capabilities, Zhaolian has implemented strategies to enhance customer self-credibility and confidence in repayment [3] - The "self-service" system includes "self-confidence" services for customers with insufficient credit records and "self-healing" services for overdue customers, benefiting millions [3] Group 5: Consumer Education Initiatives - Zhaolian plays a significant role in promoting credit knowledge among long-tail customers through various public outreach initiatives [5] - The "Zhaolian Consumer Protection Public Train" project aims to educate passengers on consumer protection and financial safety while traveling [5] - Zhaolian has established "credit book houses" in rural areas to enhance financial literacy and consumer protection awareness [6]

齐鲁晚报.齐鲁壹点易雪通讯员武鹏 创新是企业发展的核心动力。近年来，中源联科始终坚持将不低于销售收入20%的资金投入研发，以上海研发中心为前沿阵地，汇聚了 国内外顶尖的科研人才，组建了一支实力强劲的研发团队。在交联与非交联透明质酸钠凝胶、蛋白线、水光针等领域，团队潜心钻研， 取得了一系列突破性成果。其中，玻尿酸游离收集技术尤为亮眼，该技术创新性地解决了传统玻尿酸在人体塑形效果上的局限性，使产 品在人体中塑形效果更立体、更持久，一经推出便得到了海内外消费者的广泛认可。 创新驱动企业升级 数智转型产出"高品质" 中源联科以创新驱动为引擎，凭借数智化转型实现生产工序"零人工干预"，斩获30余项国际认证、20项核心专利，产品远销70余国。与 此同时，曲阜市陵城镇依托生物医药大健康产业集群，大力实施"强链、建链、补链、延链"工程，通过政企协同优化资源配置，构建起 覆盖研发生产到销售服务的完整产业链。此举不仅带动配套产业发展，还创造大量就业岗位，有力推动镇域经济高质量发展，为区域经 济增长注入强劲动能。 产业链串起特色产业格局 6月12日，走进位于曲阜市陵城镇的中源联科智能无菌化生产车间内，灌装、包装等生产工序在自动化管 ...

Core Insights - The continuous pressure on net interest margin (NIM) and the impact of economic cycle fluctuations are challenging the retail banking sector, diminishing its previously perceived "anti-cyclical" advantages [1] - The deepening of digital transformation in corporate finance and the integration of artificial intelligence (AI) are crucial for banks to navigate the U-shaped low interest rate cycle [1][3] Summary by Sections Net Interest Margin Challenges - China's commercial banks have seen a continuous decline in NIM, projected to drop to 1.52% by the end of 2024, with city commercial banks and rural commercial banks facing severe challenges [1] - Economic cycle fluctuations are increasing risks for corporate clients, leading to a general lack of growth in the banking sector [1] Short-term and Long-term Strategies - Banks should adopt a combination strategy focusing on structural optimization and refined operations in the short term, including adjusting deposit structures and reducing reliance on high-cost liabilities [2] - Long-term resilience should involve strategic planning for navigating economic cycles, such as extending asset duration and diversifying income sources through wealth management and investment banking [2] Digital Transformation and AI Integration - Digital transformation is redefining corporate finance competitiveness by replacing high liquidity of capital with data fluidity and algorithmic efficiency [3] - Key areas of focus include precise pricing and dynamic risk control, leveraging big data and AI for real-time risk monitoring and enhancing credit asset quality management [3][4] Non-interest Income and Value Reconstruction - The development of intelligent cash management platforms and digital supply chain finance platforms can create stable non-interest income opportunities and enhance service stickiness [4] - These platforms connect core enterprises with suppliers and logistics, forming a robust ecosystem that generates diversified revenue streams [4] Building Cycle-resilient Capabilities - Utilizing big data and AI for scenario simulation and stress testing can help banks anticipate potential impacts on asset quality and profitability during different economic cycles [5] - Identifying and maintaining core value clients during downturns and quickly targeting high-growth sectors during recoveries are essential for seizing market opportunities [5]

Core Viewpoint - The company is addressing significant financial losses and proposing measures to enhance its operational efficiency and expand its business scope in response to the challenges faced in the photovoltaic industry [4][5][7]. Group 1: Financial Situation - As of December 31, 2024, the company's undistributed profits amounted to -238,824,801.42 yuan, with unremedied losses exceeding one-third of the paid-in capital of 306,282,731.00 yuan [4]. - The primary reason for the losses is attributed to a mismatch in supply and demand within the photovoltaic industry, leading to a decline in gross profit margins [4]. Group 2: Proposed Measures - The company plans to enhance cost optimization and expense control after divesting from the photovoltaic business, focusing on improving profitability [5]. - The strategy includes advancing medical information technology towards platformization, regionalization, and intelligence, while exploring new business opportunities through innovative technology applications [5]. Group 3: Business Scope Expansion - The company proposes to expand its business scope to include the research and development of intelligent robots, manufacturing and sales of service consumer robots, and sales of intelligent unmanned aerial vehicles [6][7]. - The changes in the business scope will require approval from the market supervision administration and will be reflected in the company's articles of association [7].

Overview - The company, Suzhou Mediston Medical Technology Co., Ltd., reported an unallocated loss of -238,824,801.42 yuan as of December 31, 2024, which exceeds one-third of its paid-in capital of 306,282,731.00 yuan [1][2] Loss Reasons - The significant loss is attributed to a mismatch in supply and demand within the photovoltaic industry, leading to a decline in industry chain prices and market demand, which resulted in a decrease in gross profit margin for the photovoltaic business [1] Response Measures - Following the formal divestment from the photovoltaic business, the company plans to enhance cost optimization and expense control to improve profitability [2] - The company aims to focus on "medical digitization," promoting the development of medical information technology towards platformization, regionalization, and intelligence [2] - The company will strengthen its core business in medical information and assisted reproductive services while exploring new business development opportunities through innovative technology applications [2] - A market-oriented approach will be adopted to advance new product research and development, increase market expansion efforts, and solidify the company's market position and brand advantage [2]

Group 1 - The consumption finance industry is facing new opportunities and challenges amid a backdrop of increased consumer spending and regulatory policies [2] - The industry is experiencing a "Matthew effect," where leading companies gain more advantages, prompting smaller institutions to seek ways to break through [2] - The focus is on balancing compliance operations with innovative development to unlock a new landscape in the consumption finance ecosystem [2] Group 2 - The chairman of the leading consumption finance company, Ma Shang Consumption, emphasizes the need for product innovation and technology to expand service scenarios and accurately identify user needs [3][4] - The company plans to increase AI investments to better identify user demands and enhance service precision, particularly in the context of building an international consumption finance center in Chongqing [3][4] - Ma Shang Consumption has a significant portion of its workforce in R&D, with nearly 3,000 out of 4,100 employees dedicated to technology [3] Group 3 - The current economic environment is leading to structural changes in consumer credit demand, with an increase in rigid demand and a decline in improvement demand due to changing consumption habits among high-income groups [4] - The company has applied for over 2,500 patents and established more than 100 standards, positioning itself as a leader in industry standards and institutional innovation [4] Group 4 - Ma Shang Consumption is addressing industry challenges such as high service costs and low data decision efficiency through digital intelligence [4][7] - The company is focusing on three main areas for technology investment: improving service efficiency, enhancing data decision-making capabilities, and building an open platform for various consumption scenarios [7] - The deployment of a retail finance large model has significantly improved customer service response times and risk identification accuracy [7][8] Group 5 - The company emphasizes the importance of multi-dimensional collaboration in building competitive advantages in digital intelligence, integrating strategy, talent, organization, management, and technology [8] - The AI platform developed by the company has lowered the barriers to using large models, allowing business personnel to independently access AI capabilities [8]

Core Viewpoint - The launch of the upgraded "Postal Wallet APP 3.0" by China Post Consumer Finance aims to enhance customer experience and support consumption through innovative financial services [1][3][4]. Group 1: Product Innovation - The Postal Wallet APP 3.0 has undergone a comprehensive upgrade focusing on five key areas: interactive experience, service functionality, AI-driven financial services, brand trust enhancement, and new experiences within the Harmony ecosystem [5]. - The app has optimized user interaction, simplifying the loan process to three steps and making financial terminology more accessible, significantly improving user experience and lowering barriers to use [8]. - New features include YO+ credit scoring and "Credit Compass," which utilize multi-dimensional data modeling to provide personalized financial services and help users identify hidden risks [8]. Group 2: Risk Management - The company emphasizes the importance of self-developed risk control systems as a core competitive advantage, utilizing a digital risk management platform and big data models to accurately identify customer risks [8][9]. - A comprehensive fraud risk prevention system has been established to protect customer rights against individual and group fraud [8]. Group 3: Technological Development - The company is committed to full-chain independent research and development, with over 90% of its systems self-developed, and has applied for 146 invention patents, of which 101 have been authorized [9][10]. - The integration of AI technologies has led to the development of tools like "Postal Vision" and virtual digital assistants, enhancing customer service and operational efficiency [9][10]. Group 4: Ecosystem Expansion - The company is focused on building a "Postal Consumer Finance+" ecosystem, collaborating with various partners to create a diverse and open ecosystem that offers comprehensive financial and lifestyle services [11]. - The collaboration with academic and industry leaders during the launch event provided valuable insights into the role of credit data and technology in the digital transformation of consumer finance [11]. Group 5: Future Vision - The company envisions a more inclusive financial future, leveraging technology to enhance user experience while ensuring robust risk management [12].

证券研究报告 | 公司深度报告 2025 年 06 月 13 日 迈瑞医疗（300760.SZ） 全球化战略再升级，数智化转型驱动全球竞争力 | 财务指标 | 2023A | 2024A | 2025E | 2026E | 2027E | | --- | --- | --- | --- | --- | --- | | 营业收入（百万元） | 34,932 | 36,726 | 40,794 | 45,743 | 51,422 | | 增长率 yoy（%） | 15.0 | 5.1 | 11.1 | 12.1 | 12.4 | | 归母净利润（百万元） | 11,582 | 11,668 | 12,806 | 14,288 | 16,500 | | 增长率 yoy（%） | 20.6 | 0.7 | 9.7 | 11.6 | 15.5 | | ROE（%） | 34.7 | 28.8 | 24.2 | 22.3 | 21.2 | | EPS 最新摊薄（元） | 9.55 | 9.62 | 10.56 | 11.78 | 13.61 | | P/E（倍） | 24.7 | 24.5 | 22.3 | 20.0 | ...

随着数智化时代的到来，银行开始将数据的重要性提升至战略高度，金融创新迅速发展，数据价值的重 要性变得愈发明显。2025年《国务院办公厅关于做好金融"五篇大文章"的指导意见》指出，要加强相关 配套设施建设，通过加强数字技术的深度应用，积极培育金融新质生产力，不断推进金融数智字化转 型，从而推动金融高质量发展。在此背景下，随着分布式架构成为金融核心系统升级的必然选择，存储 技术作为数据承载的"底座"，其性能、可靠性与扩展性成为影响金融机构数智化转型成败的关键。 贵州农信作为贵州省人民政府管理的地方金融机构，自2003年成立以来，始终坚守"根在农村、命在农 业、情系农民"的立社之本，为贵州地方经济社会发展发挥了"农村金融主力军"作用。目前，贵州农信 已发展成为省内业务规模最大、服务覆盖最广、从业人员最多的银行业金融机构，拥有营业网点2293 个，员工2.8万名，存款突破9229亿元，贷款突破7095亿元。在数智化转型的浪潮中，贵州农信选择与 华为合作，旨在通过先进的技术解决方案，提升系统的灵活性、可扩展性和安全性，为客户提供更高 效、便捷的金融服务。 解除金融存储"紧箍咒"需要构建新一代存储网络 在金融行业数智化转 ...