2025 年 6 月 20 日 分析师点评 市场数据 行业研究 【互联网传媒】美股 AI+云安全催化不断，AI 推理需求驱动网络安全蓬勃发展——美 股云计算行业跟踪报告（二）(买入) CrowdStrike 等传统龙头凭借持续的技术迭代强化竞争优势，而 Cloudflare、Rubrik、 Zscaler 凭借云原生+AI 原生架构实现增速领跑。建议重点关注具备 AI+云安全产品落 地能力的厂商，以把握企业数字化转型过程中网络安全领域的增量需求。推荐 CrowdStrike，建议关注 Rubrik、Cloudflare、Zscaler。 【建材】国内低轨星座建设加速，钙钛矿或成为降本突破口——低轨卫星行业研究系 列之一(增持) 我国政策高度重视商业航天产业建设，国内"星网"、"千帆"等星座计划已开始批 量发射卫星，低轨卫星发展节奏有望显著提速。与国际先进水平相比，我国商业航天 降本亟待突破，其中钙钛矿有望成为低轨卫星能源系统的降本突破口。上海港湾前瞻 性布局卫星领域以及钙钛矿相关业务，凭借先进的技术与可靠的产品，公司能源系统 产品已助力 15 颗卫星成功发射，40 余套卫星电源系统及太阳帆板与结构机构在轨稳 ...

Company Overview - Xiamen Shiding Sports Industry Co., Ltd. has been established with a registered capital of 3.137878 million RMB [1][2] - The legal representative of the company is Chen Hua [2] - The company is classified under the cultural, sports, and entertainment industry, specifically in the sports sector [2] Shareholding Structure - The shareholding structure consists of three main shareholders: - Xiamen Ziyi Enterprise Management Co., Ltd. holds 49% of the shares - Xiamen Cejuan Enterprise Management Co., Ltd. holds 41% of the shares - Xiamen Baixiang Chuang Management Consulting Co., Ltd. holds 10% of the shares [1] Business Scope - The business scope includes a wide range of activities such as: - Sports guarantee organization - Retail and wholesale of sports goods and equipment - Sports venue management (excluding high-risk sports) - Sports event organization and planning - Information technology consulting and services - Software development and artificial intelligence application software development - Cloud computing technology services and big data services [1]

①固态电池+无人机+可控核聚变+稀土永磁+国企改革！这家公司固态电池用正极材料已实现百公斤级样 品供货；②云计算+军工+区块链+机器人+AI智能体+华为鸿蒙+国资云！这家公司已为军工领域的部分科 研院所提供服务；③创新药+减肥药！公司上半年净利润同比最高预增超3倍。 每周日至每周四推送明日股市重大公告！内容包含"停复牌、增减持、投资中标、收购、业绩、解禁、 高送转"等一系列个股利好利空公告，其中重要公告均以红色标注，帮助投资者提前寻找到投资热点， 防范各类黑天鹅事件，并且有充足的时间进行分辨和寻找合适的上市公司。 前言 ...

Summary of Key Points Core Viewpoint - The announcement reveals that Yonyou Network Technology Co., Ltd. has won the bid for the database procurement project of Hunan Construction Investment Group, with a final bid amount of 1,390,000.00 yuan [1]. Procurement Project Details - The procurement project is titled "Hunan Construction Investment Group Database Procurement Project" with a budget of 1,500,000.00 yuan [1]. - The competitive negotiation for the procurement project concluded on June 17, 2025 [1]. Bidder Information - Yonyou Network Technology Co., Ltd. was awarded the contract with a score of 91.22, while the second and third bidders, Zhongshu Online (Beijing) Information Technology Co., Ltd. and Zhongke Yunji (Beijing) Information Technology Co., Ltd., scored 81.46 and 70.5 respectively [1]. - The final bid amounts were 1,390,000.00 yuan for Yonyou, 1,420,000.00 yuan for Zhongshu Online, and 1,410,000.00 yuan for Zhongke Yunji [1]. Contact Information - The procurement project contact is Zou Chunbiao, with a phone number provided for inquiries [3]. - The procurement agency is Hunan Provincial Tendering Co., Ltd., located in Changsha, Hunan [3].

Company Overview - Jiangsu Zongyi Co., Ltd. is focused on three core business segments: information technology, new energy, and equity investment, aiming for sustainable development through quality improvement and external expansion [6][20]. Meeting Details - The 2024 Annual General Meeting is scheduled for June 27, 2025, with both on-site and online voting options available [2][5]. - The meeting will include a series of agenda items such as the announcement of attending shareholders, review of meeting proposals, and voting results [5][6]. Business Performance - The company has been actively exploring opportunities in the new energy sector through mergers and acquisitions, particularly in the photovoltaic power generation field [6][15]. - The information technology segment includes chip design and application, mobile gaming, and IT services, with a focus on integrated circuits and smart card businesses [6][7]. Subsidiary Developments - Tianyi Integrated, a subsidiary, is transitioning its business model in response to the decline in cash and card payment demands, focusing on hearing aid chip production [7][8]. - Nanjing Tianyue, another subsidiary, is developing hearing aid chips with a focus on the mid-to-low-end market, aiming to increase market share through strategic partnerships [8][21]. Market Trends - The global hearing aid market is expected to grow significantly, with China's market projected to reach 8.07 billion RMB by 2025, driven by increased awareness and government subsidies [20][21]. - The integrated circuit industry is undergoing transformation due to supply chain challenges and technological advancements, with a focus on embedded chips and security products [22][23]. Financial Performance - The financial performance of subsidiaries varies, with some facing challenges due to market competition and economic conditions, while others are achieving stable growth [11][18]. - Jiangsu Zongyi's investment in subsidiaries like Xinju Environmental is aimed at enhancing operational efficiency and expanding into the environmental protection sector [27][29]. Industry Outlook - The renewable energy sector, particularly solar energy, is experiencing rapid growth, with China's photovoltaic capacity expected to exceed 1,889 GW by the end of 2024 [26]. - The smart card industry is evolving with increased competition and technological advancements, presenting new opportunities for growth [24][25].

Core Viewpoint - The stock of GCL-Poly Energy Holdings Limited (固德威688390) is currently experiencing a bearish trend, having broken through short-term support levels, indicating a cautious approach for short-term investors [1][2][3] Group 1: Stock Performance - The stock has a comprehensive score of 52.01, indicating a strong performance [1] - The stock's current price is 40.40 CNY, with a 5-day average cost of 40.93 CNY and a 20-day average cost of 41.84 CNY [1] - Over the past year, the stock has hit the upper limit once and has not hit the lower limit [1] Group 2: Capital Flow Analysis - On June 19, 2025, the net outflow of main funds was 37.4952 million CNY, accounting for 20% of the total trading volume [2][3] - Large orders saw a net outflow of 20.3576 million CNY, while retail investors experienced a net inflow of 4.0291 million CNY [2][3] Group 3: Financial Data - The latest financial report indicates an earnings per share of -0.12 CNY and an operating profit of -0.10 million CNY [2] - The net profit reported is -10,695,376.18 CNY, with a sales gross margin of 19.411% [2][3] Group 4: Industry Context - Related sectors such as photovoltaic equipment, cloud computing, IoT, and smart home technologies have seen declines of -1.76%, -1.85%, -1.69%, and -1.41% respectively [2][3]

Group 1 - The stock of Hongquan Wulian (688288) has a comprehensive score of 38.39, indicating a weak performance [1] - The main cost analysis shows that the current main cost is 27.69 yuan, with a 5-day main cost of 28.38 yuan, a 20-day main cost of 29.64 yuan, and a 60-day main cost of 32.36 yuan [1] - Over the past year, the stock has hit the upper limit twice and has not hit the lower limit [1] Group 2 - The short-term resistance level is at 29.39 yuan, while the short-term support level is at 28.28 yuan [2] - If the stock price breaks below the short-term support level, it is advisable to observe the market; if it breaks below the mid-term support level, the willingness of main funds to buy is weak, and observation is also recommended [2] - On June 19, 2025, the net outflow of main funds was 14.6011 million yuan, accounting for -24% of the total transaction amount [2] Group 3 - Related industry sectors such as computer equipment, artificial intelligence, cloud computing, and big data experienced declines of -2.66%, -1.78%, -1.85%, and -1.94% respectively [2]

智通财经APP获悉，大摩的追踪数据显示，App Store 年初至今净收入同比增长 12.5%，超出该行对第二 季度的预测 150 个基点，并相当于服务业务超预期 40 个基点。大摩将2025年全球云资本支出预测上调 至4060亿美元（同比增长43%），较1个月前预测提升4个百分点（新增140亿美元）。增长由甲骨文 (ORCL.US)和阿里巴巴的上调驱动。 最后数据还显示，笔记本电脑ODM的订单交付量显示第二季度出货量略有上行空间，但第三季度展望 较为疲软。 甲骨文对 2026 财年资本支出的上调以及阿里巴巴此前被低估的资本支出共识修正，推动了整体云资本 支出的增长。这不仅反映出云计算领域持续的扩张态势，也显示出行业巨头在战略布局上的积极投入， 进一步巩固和拓展其在云计算市场的份额与影响力。 在个人电脑领域，数据呈现出较为复杂的局面。一方面，笔记本电脑ODM的最新订单交付量显示出第 二季度个人电脑出货量略有上行空间;但另一方面，2025 年下半年的需求存在高度不确定性，第三季度 展望较为疲软。具体来看，第三季度笔记本电脑出货量较预测低 10%，而初始的第三季度笔记本电脑 原始设计制造商订单交付量低于正常季节性 ...

21世纪经济报道见习记者冉黎黎 北京报道 当前，纺织工业正面临全球产业链重构、绿色低碳竞争加剧等多重挑战，传统生产模式存在效率低、能 耗高、协同弱等结构性矛盾，亟需通过数字化手段重塑产业生态。 AI重塑千行万业，《实施方案》中也提到了深化人工智能赋能应用，提出引导企业在研发设计、生产 制造、经营管理、运维服务等环节加大人工智能应用，加速纺织专用算法与智能装备的研发，开发符合 纺织行业特点和需求的人工智能技术和产品。促进人工智能技术与纺织行业知识融合等。 国研新经济研究院创始院长朱克力对21世纪经济报道记者表示，新一代信息技术，如人工智能、大数 据、云计算等，是推动纺织工业数字化转型的核心力量。通过这些技术的应用，纺织企业能够实现生产 流程的智能化、自动化，提高生产效率和产品质量。同时，新一代信息技术还能助力企业精准把握市场 需求，优化供应链管理，降低运营成本。更重要的是，这些技术的应用能够催生纺织工业的新模式新业 态，为行业带来全新的发展机遇。"因此，我认为新一代信息技术赋能行动是纺织工业数字化转型的关 键所在"。 而在新模式新业态创新应用行动方面，《实施方案》提到，支持企业借助工业互联网平台，应用人机交 互 ...

"强大记忆力"助力高效管理上千台服务器 随着企业云资源规模持续扩大，终端管理面临着多机器部署的难题。以服务器为例，据合合信息技术团队 人员介绍，在工作中，一名程序员一天需要同时应对四五十台服务器，遇到体量较大的项目，有的程序员 甚至要同时管理上千台服务器。当产品某个功能或者服务上线时，开发人员需要逐个将代码部署到成百上 千台服务器中，耗时长，效率十分低下。 面对大规模的服务器管理需求，与其他智能CLI Agent相比，Chaterm具备了批量管理远程服务器的独特能 力。通过自动"记忆"用户的操作习惯，即使没有ROOT权限，用户也可以在任意远程主机上实现个性化的语 法高亮或自定义的快捷命令，实现"一次配置，多端通用"的便捷体验。除此之外，Chaterm还具备了跨平台 兼容性，一键安装，支持MAC，WINDOWS，LINUX等操作系统，降低了企业混合IT环境下的运维管理复 杂度。 在数字化转型加速的当下，AI技术正深度重塑云计算产业。当企业将服务器、数据库等核心资产交由AI管 理时，数据安全问题成为重要考量。为了保护用户隐私，合合信息宣布全面开源Chaterm核心代码，开发者 可以直接观察算法底层运行逻辑，并根据 ...