Core Viewpoint - Capital Online's stock has experienced a decline of 2.04% on December 2, with a current price of 20.60 CNY per share, while the company has seen a year-to-date increase of 48.09% [1] Financial Performance - For the period from January to September 2025, Capital Online reported a revenue of 926 million CNY, representing a year-on-year decrease of 12.05%. The net profit attributable to shareholders was -99.41 million CNY, showing a year-on-year increase of 32.11% [2] - The company has cumulatively distributed dividends of 20.57 million CNY since its A-share listing, with no dividends paid in the last three years [3] Stock Market Activity - As of December 2, the trading volume was 226 million CNY, with a turnover rate of 2.76% and a total market capitalization of 10.36 billion CNY [1] - The stock has appeared on the "Dragon and Tiger List" 16 times this year, with the most recent appearance on March 25, where it recorded a net buy of -174 million CNY [1] Shareholder Information - As of September 30, 2025, the number of shareholders decreased by 25.68% to 65,700, while the average circulating shares per person increased by 34.76% to 5,961 shares [2] - The second-largest circulating shareholder is Hong Kong Central Clearing Limited, holding 8.25 million shares, an increase of 4.72 million shares from the previous period [3] Business Overview - Capital Online, established on July 13, 2005, and listed on July 1, 2020, specializes in high-performance IDC services and cloud services. The revenue composition includes 49.89% from cloud hosting and related services, 45.83% from IDC services, and 4.28% from other income [1]

Core Viewpoint - The stock of Alter Automotive Technology Co., Ltd. has shown fluctuations, with a recent increase of 2.03% in price, but a year-to-date decline of 6.64% [1][2]. Group 1: Stock Performance - As of November 26, Alter's stock price reached 10.55 CNY per share, with a market capitalization of 5.254 billion CNY [1]. - The stock has experienced a 1.83% increase over the last five trading days, but a decline of 8.34% over the last 20 days and 21.15% over the last 60 days [1]. - The net inflow of main funds was 1.6632 million CNY, with large orders accounting for 28.76% of purchases [1]. Group 2: Financial Performance - For the period from January to September 2025, Alter reported a revenue of 736 million CNY, reflecting a year-on-year growth of 19.30% [2]. - The net profit attributable to shareholders was -151 million CNY, indicating a significant year-on-year decrease of 12,246.62% [2]. Group 3: Company Overview - Alter was established on May 23, 2007, and went public on March 27, 2020, focusing on the design of fuel and new energy vehicles [1]. - The company's main business revenue composition includes 87.68% from new energy vehicle design, 11.73% from fuel vehicle design, and 0.59% from other services [1]. - Alter is categorized under the automotive services sector, with concepts including data elements, digital twins, AI, autonomous driving, and robotics [1]. Group 4: Shareholder Information - As of September 30, 2025, the number of shareholders increased to 31,500, a rise of 6.69% from the previous period [2]. - The average number of circulating shares per shareholder decreased by 6.27% to 15,400 shares [2]. - Notably, Hong Kong Central Clearing Limited and the China Europe Innovation Theme Mixed Fund (LOF) A have exited the top ten circulating shareholders [2].

Core Viewpoint - The stock of Alter Automotive Technology Co., Ltd. has shown a slight increase of 2.04% on November 25, 2023, despite a year-to-date decline of 7.08% and significant losses in net profit for the first nine months of 2025 [1][2]. Group 1: Stock Performance - As of November 25, 2023, Alter's stock price is 10.50 CNY per share, with a market capitalization of 5.229 billion CNY [1]. - The stock has experienced a decline of 7.08% year-to-date, with a 0.47% drop over the last five trading days, a 9.40% decline over the last 20 days, and a 20.15% decrease over the last 60 days [1]. Group 2: Financial Performance - For the period from January to September 2025, Alter reported a revenue of 736 million CNY, reflecting a year-on-year growth of 19.30% [2]. - The company recorded a net profit attributable to shareholders of -151 million CNY, representing a significant year-on-year decrease of 12,246.62% [2]. Group 3: Shareholder Information - As of September 30, 2025, the number of shareholders increased to 31,500, up by 6.69% from the previous period [2]. - The average number of tradable shares per shareholder decreased by 6.27% to 15,400 shares [2]. - Notably, Hong Kong Central Clearing Limited and the China Europe Innovation Theme Mixed Fund (LOF) A (501081) have exited the list of the top ten circulating shareholders [2]. Group 4: Company Overview - Alter Automotive Technology Co., Ltd. was established on May 23, 2007, and went public on March 27, 2020 [1]. - The company specializes in the design of fuel and new energy vehicles, with 87.68% of its revenue coming from new energy vehicle design, 11.73% from fuel vehicle design, and 0.59% from other services [1]. - Alter is categorized under the automotive services sector, with concepts including data elements, AI, digital twins, robotics, and autonomous driving [1].

Core Viewpoint - The company, Altec Automotive Technology Co., Ltd., has experienced a decline in stock price and significant changes in financial performance, indicating potential challenges in the automotive sector, particularly in electric vehicle design and services [1][2]. Group 1: Stock Performance - As of November 24, Altec's stock price increased by 2.00% to 10.20 CNY per share, with a trading volume of 26.28 million CNY and a turnover rate of 0.54%, resulting in a total market capitalization of 5.08 billion CNY [1]. - Year-to-date, Altec's stock price has decreased by 9.73%, with a decline of 4.05% over the last five trading days, 6.42% over the last 20 days, and 18.33% over the last 60 days [1]. Group 2: Financial Performance - For the period from January to September 2025, Altec reported a revenue of 736 million CNY, reflecting a year-on-year growth of 19.30%. However, the net profit attributable to shareholders was -151 million CNY, a drastic decrease of 12,246.62% compared to the previous period [2]. - As of September 30, the number of shareholders increased to 31,500, a rise of 6.69%, while the average circulating shares per person decreased by 6.27% to 15,400 shares [2]. Group 3: Business Overview - Altec, established on May 23, 2007, and listed on March 27, 2020, is primarily engaged in the design of fuel and electric vehicles, with 87.68% of its revenue coming from electric vehicle design, 11.73% from fuel vehicle design, and 0.59% from other services [1]. - The company operates within the automotive services sector and is associated with various concepts, including AI, robotics, autonomous driving, flying cars, and digital twins [1].

Core Insights - The Zhipu AI concept index rose by 1.68%, ranking 9th among concept sectors, with 48 stocks increasing in value, including Guangyun Technology and Vision China hitting the daily limit up [1][2] - The sector saw a net inflow of 999.2 million yuan, with major inflows into stocks like Vision China, Kingsoft Office, and Worth Buying [2][3] Stock Performance - Top gainers in the Zhipu AI sector included: - Guangyun Technology: +20% - Vision China: +20% - Worth Buying: +14.40% - BlueFocus: +11.51% - Fantou Shuchuang: +7.39% [1][2] - Major decliners included: - CIMC: -3.48% - Digital China: -2.76% - Kevin Education: -2.20% [1][2] Fund Flow Analysis - The leading stocks by net inflow were: - Vision China: 548 million yuan - Kingsoft Office: 293 million yuan - Worth Buying: 250 million yuan - Guangyun Technology: 112 million yuan [2][3] - The net inflow ratios for top stocks were: - Vision China: 20.70% - Guangyun Technology: 18.84% - Kingsoft Office: 10.75% [3]

Market Overview - Major A-share indices collectively declined today, with the Shanghai Composite Index falling by 0.46% to 3972 points, the Shenzhen Component down by 0.11%, and the ChiNext Index decreasing by 0.2% [1] - The total market turnover was 1.93 trillion yuan, a decrease of 501 billion yuan compared to the previous trading day, with over 2700 stocks declining [1] Sector Performance - Lithium carbonate futures hit the daily limit, with lithium mining concepts continuing to surge, leading to stocks like Shengxin Lithium Energy and Yahua Group reaching the daily limit [1] - The Fujian sector remained active, with Xiamen XGMA achieving five consecutive daily limits in ten days [1] - The military and shipbuilding sectors saw gains, with Jianglong Shipbuilding hitting the daily limit [1] - The aquaculture sector rose, with Kaichuang International also reaching the daily limit [1] - AI application concepts were active, with Sora and Zhipu AI leading the gains, and Xuanya International hitting the daily limit [1] - Other notable sectors with significant gains included Web 3.0, Kuaishou concepts, and Xinchuang [1] Declining Sectors - The pharmaceutical sector experienced a broad decline, with pharmaceutical commerce, recombinant proteins, weight-loss drugs, innovative drugs, and CROs leading the losses; Shuyuan Pingmin fell over 6%, and Kexing Pharmaceutical dropped nearly 8% [1] - The precious metals sector weakened, with Zhaojin Gold leading the decline [1] - Other sectors with notable declines included cultivated diamonds, photovoltaic equipment, medical devices, and insurance [1]

Core Viewpoint - The stock price of Chuangye Heima has experienced a decline of 6.59% year-to-date, with a recent drop of 2.10% on November 12, 2023, indicating ongoing market challenges for the company [1][2]. Financial Performance - For the period from January to September 2025, Chuangye Heima reported a revenue of 102 million yuan, representing a year-on-year decrease of 35.68%. However, the net profit attributable to shareholders was -24.93 million yuan, showing a year-on-year increase of 42.24% [3]. - Cumulatively, since its A-share listing, the company has distributed a total of 40.0023 million yuan in dividends, with 836,900 yuan distributed over the past three years [4]. Stock Market Activity - As of November 12, 2023, Chuangye Heima's stock price was 29.90 yuan per share, with a market capitalization of 5.005 billion yuan. The trading volume was 58.158 million yuan, with a turnover rate of 1.30% [1]. - The company has appeared on the "Dragon and Tiger List" twice this year, with the most recent instance on February 13, 2023, where it recorded a net buy of -134 million yuan [2]. Shareholder Information - As of September 30, 2023, the number of shareholders for Chuangye Heima was 30,100, a decrease of 9.18% from the previous period. The average number of circulating shares per shareholder increased by 10.11% to 4,931 shares [3]. Business Overview - Chuangye Heima, established on November 16, 2011, and listed on August 10, 2017, is based in Beijing and focuses on providing entrepreneurial services and industry acceleration services to innovative and small to medium-sized enterprises. Its main revenue sources include enterprise acceleration services (45.45%), intellectual property services (35.35%), and AI training services (14.95%) [2]. - The company operates within the social services sector, specifically in education and training, and is associated with concepts such as online education, Web3, virtual digital humans, and AI [2].

Core Viewpoint - Jin Modern's stock price has shown fluctuations with a year-to-date increase of 34.80%, despite a recent decline over the past 60 days [1][2]. Financial Performance - For the period from January to September 2025, Jin Modern reported operating revenue of 138 million yuan, a year-on-year decrease of 23.19%, while the net profit attributable to the parent company was -36.81 million yuan, an increase of 5.90% year-on-year [2]. - The company has distributed a total of 74.09 million yuan in dividends since its A-share listing, with 42.69 million yuan distributed over the past three years [3]. Stock Market Activity - As of November 11, Jin Modern's stock price was 10.94 yuan per share, with a trading volume of 93.51 million yuan and a turnover rate of 2.58%, resulting in a total market capitalization of 4.941 billion yuan [1]. - The stock has appeared on the "Dragon and Tiger List" twice this year, with the most recent instance on August 4, where it recorded a net purchase of 138 million yuan [1]. Shareholder Information - As of September 30, Jin Modern had 42,200 shareholders, an increase of 0.62% from the previous period, with an average of 7,978 circulating shares per shareholder, up by 3.97% [2]. Business Overview - Jin Modern Information Industry Co., Ltd. specializes in digital solutions and application software development, with 80.47% of its revenue coming from customized software development and services, and 18.80% from standardized software products [1]. - The company is categorized under the computer-software development-vertical application software industry and is associated with concepts such as AI, Huawei Harmony, online education, and more [2].

首都在线所属申万行业为：计算机-IT服务Ⅱ-IT服务Ⅲ。所属概念板块包括：AI训练、元宇宙概念、一 体机概念、智谱AI概念、虚拟数字人等。 截至9月30日，首都在线股东户数6.57万，较上期减少25.68%；人均流通股5961股，较上期增加 34.76%。2025年1月-9月，首都在线实现营业收入9.26亿元，同比减少12.05%；归母净利润-9941.30万 元，同比增长32.11%。 分红方面，首都在线A股上市后累计派现2056.58万元。近三年，累计派现0.00元。 11月11日，首都在线盘中上涨2.04%，截至10:18，报21.04元/股，成交1.63亿元，换手率2.01%，总市值 105.81亿元。 资金流向方面，主力资金净流出727.33万元，特大单买入113.02万元，占比0.69%，卖出351.63万元，占 比2.16%；大单买入2285.78万元，占比14.04%，卖出2774.50万元，占比17.04%。 首都在线今年以来股价涨51.26%，近5个交易日跌2.95%，近20日跌2.46%，近60日涨3.59%。 今年以来首都在线已经16次登上龙虎榜，最近一次登上龙虎榜为3月25日，当日龙 ...

Core Viewpoint - Qingyun Technology's stock has shown significant volatility, with an 85.64% increase year-to-date, but recent trends indicate a decline in the short term [1][2]. Group 1: Stock Performance - On November 11, Qingyun Technology's stock rose by 2.03%, reaching 62.19 CNY per share, with a trading volume of 21.11 million CNY and a turnover rate of 0.72%, resulting in a total market capitalization of 2.979 billion CNY [1]. - Year-to-date, the stock has increased by 85.64%, but it has experienced a 1.61% decline over the last five trading days, a 2.54% increase over the last 20 days, and an 18.76% decline over the last 60 days [1]. - The company has appeared on the "Dragon and Tiger List" 14 times this year, with the most recent appearance on July 23, where it recorded a net purchase of 97.91 million CNY [1]. Group 2: Financial Performance - For the period from January to September 2025, Qingyun Technology reported a revenue of 165 million CNY, reflecting a year-on-year decrease of 22.83%, while the net profit attributable to shareholders was -49.99 million CNY, showing a year-on-year increase of 20.35% [2]. - As of September 30, the number of shareholders decreased by 9.81% to 11,100, while the average circulating shares per person increased by 47.76% to 4,314 shares [2]. Group 3: Business Overview - Qingyun Technology, established on April 17, 2012, and listed on March 16, 2021, is headquartered in Beijing and primarily provides cloud computing products and services [1]. - The company's main revenue sources are cloud services (66.23%), cloud products (33.44%), and other supplementary services (0.33%) [1]. - The company belongs to the computer-IT services sector and is associated with various concepts, including AI, integrated machines, computing power, DeepSeek, and Xinchuang [2].