每经AI快讯，有投资者在投资者互动平台提问：请问公司金融数据流通解决方案的商业化落地进展如 何？2026年数据要素相关业务能否形成10亿元级收入规模，成为第三增长曲线？ 神州信息（000555.SZ）11月24日在投资者互动平台表示，公司是北京国际数据交易联盟成员之一，但 并未参股北京国际大数据交易所。同时，公司2024年营业收入同比下滑17.03%，还请您关注公司公告 和官方消息。作为领先的金融数字化转型合作伙伴，公司将充分发挥自身优势，与联盟成员一起共同推 动数据资源的网络化共享、集约化整合、协作化开发和高效化利用，共同推动数字经济产业高质量发 展。 （记者 王瀚黎） ...

Core Insights - The establishment of the Central China Research Institute by the China Academy of Information and Communications Technology (CAICT) in the Dongxihu District aims to focus on cutting-edge fields such as artificial intelligence and data elements, creating an innovative system that integrates think tank, platform, and ecosystem [1][2] Group 1: Strategic Objectives - The research institute aims to drive industrial innovation through technological advancements and promote the integration of digital and physical industries, aligning national strategies with local capabilities [2] - The institute plans to leverage its national-level intellectual advantages to provide services for industrial chain investment and supply chain expansion for local enterprises [3] Group 2: Development Plans - Over the next five years, the institute will build an innovative system characterized by "think tank leadership, platform empowerment, and ecosystem symbiosis," focusing on creating a platform for "artificial intelligence + data services" [3] - The institute intends to develop a "smart supermarket" featuring over a hundred AI products for enterprises, alongside a high-quality data set innovation service platform [3] Group 3: Collaborative Efforts - Ongoing discussions with AI companies, such as Yuncong Technology, are focused on building a trusted data space for healthcare, while collaborations with companies like Gushen Intelligent are exploring projects related to robotic simulation training [4] - The institute is also working on a regional industrial development roadmap to facilitate the implementation of major national and provincial strategies, aiming to accelerate the transformation of technological achievements [4]

Market Overview - A-shares experienced significant declines, with the Shanghai Composite Index closing at 3834.89 points, down 2.45%, and the Shenzhen Component Index down 3.41% [1] - Over 5000 stocks in the market fell, indicating a widespread downturn, with many stocks seeing cumulative declines exceeding 10% over two weeks [5] Sector Performance - The lithium mining sector faced a "limit down" trend, with companies like Ganfeng Lithium and Shengxin Lithium Energy hitting their daily trading limits [2] - The storage chip sector saw sharp declines, with companies like Purun Co. and Shannon Chip Innovation dropping over 10% [3] - The photovoltaic equipment sector also adjusted collectively, with Jinchen Technology hitting its daily limit down [4] Risk Factors - Global risks, particularly the fluctuating expectations around the Federal Reserve's interest rate decisions, have contributed to market volatility [6][7] - The Japanese bond market's increased volatility has raised global asset pricing risk premiums, affecting high-valuation assets, especially in AI and technology sectors [8][9] - The AI computing sector, a crowded investment area, is experiencing a shift as investors reassess risks, impacting related stocks in A-shares [11] Domestic Influences - Core technology sectors have seen significant declines over the past two weeks, with the large fund holdings index dropping approximately 3.24% last week and over 4% this week [12] - Semiconductor and chip-related indices have also experienced double-digit corrections, indicating that the recent downturn is a cumulative risk release rather than an isolated event [13] Market Dynamics - The market has shown a pattern of "slow rise and rapid decline," with main funds managing their positions strategically [18][19] - The AI computing sector has been central to the recent sell-off, being the most sensitive to valuation changes amid external pressures [20][21] Technical Analysis - The 20-week moving average is identified as a critical support level for the market, with expectations of further declines towards this level before potential stabilization [23][25] - The Shanghai Composite Index is currently near the 20-week line, which is projected to provide significant technical support [25] Investment Strategy - Investors are advised to avoid panic selling during downturns and to reassess their portfolio allocations, focusing on valuation and performance stability [34][36] - The current market environment is viewed as a phase of "stage adjustment" rather than a beginning of a medium-term downtrend, suggesting a potential for recovery after the risk release [28][42]

Core Viewpoint - The company, Yingfang Software, specializes in data replication and has made significant strides in the domestic software market, particularly in data security and disaster recovery solutions. Company Overview - Yingfang Software, established on August 12, 2011, is located in Shanghai and was listed on January 19, 2023. The company focuses on providing data replication software, integrated hardware-software solutions, and related services. Its revenue composition includes 60.37% from software products, 20.57% from software-related services, 15.97% from integrated hardware-software products, and 3.09% from other sources [9]. Product and Technology - The company has developed nearly 30 standardized products based on three core technologies: dynamic file byte-level replication, database semantic-level replication, and volume block-level replication. These products are categorized into four main product lines: disaster recovery, backup, big data, and cloud disaster recovery [3]. - Yingfang Software's products are widely used in various sectors, including financial institutions, government agencies, healthcare, and telecommunications, ensuring data security and business continuity while facilitating digital transformation [4]. Market Position and Performance - As one of the top three suppliers in the domestic data replication and protection software market, Yingfang Software has received recognition from the Shanghai Data Exchange as a "Data Delivery Service Provider" [3]. - For the period from January to September 2025, the company achieved a revenue of 132 million yuan, reflecting a year-on-year growth of 11.26%. However, the net profit attributable to the parent company was a loss of 14.71 million yuan, although this represented a 53.56% improvement compared to the previous year [9]. Recent Developments - On November 14, 2024, the company announced its support for the Huawei Euler operating system and its active participation in the openEuler community, indicating a commitment to promoting domestic software innovation and self-sufficiency [2]. - The company's data replication software has been successfully implemented in numerous core business systems of domestic securities firms, banks, insurance companies, and asset management companies, showcasing its strong performance in the financial sector [4].

Core Viewpoint - The A-share market experienced significant activity with 33 stocks hitting the daily limit up, indicating strong investor interest and potential bullish trends in specific sectors [1] Group 1: Aquaculture Sector - Zhongshui Fishery achieved a remarkable six consecutive limit-up days, highlighting its strong performance in the aquaculture sector [1] Group 2: Other Notable Stocks - Rongji Software recorded five consecutive limit-up days, associated with the data element concept [1] - ST Mubang also saw five consecutive limit-up days, linked to the photovoltaic silicon wafer sector [1] - Deep China A and Guofeng New Materials both achieved three consecutive limit-up days, with Deep China A in the lithium battery sector and Guofeng New Materials in the photolithography glue sector [1] - Other companies such as ST Suwu, Meng Tian Home, and Caixin Development also showed notable performances with three consecutive limit-up days in their respective sectors [1]

每经AI快讯，南威软件（SH 603636，收盘价：13.27元）11月19日晚间发布公告称，截至本公告日，吴 志雄先生持有公司无限售条件流通股约1.94亿股，占公司总股本的比例为33.36%。本次部分股份质押及 解除质押后，吴志雄先生累计被质押股份总数约为1.32亿股，占其所持有公司股份总数的比例为 68.23%，占公司总股本的比例为22.76%。吴志雄先生及其一致行动人徐春梅女士合计共持有公司约1.94 亿股，占公司总股本的33.36%（徐春梅女士持有公司约1.04万股，占公司总股本的0.0018%，所持公司 股份不存在质押情况）。 截至发稿，南威软件市值为77亿元。 （记者 曾健辉） 2025年1至6月份，南威软件的营业收入构成为：人工智能/数据要素+公共安全占比45.43%，智慧产业占 比24.26%，人工智能/数据要素+数字政府占比20.94%，人工智能/数据要素+社会治理占比9.2%，其他业 务占比0.17%。 每经头条（nbdtoutiao）——炒股亏了保险兜底，月收益高达100%？"安我股保"宣称推出全网首款炒股 保险，两大机构连忙撇清关系 ...

Core Viewpoint - The article emphasizes the new opportunities in investment during the "14th Five-Year Plan" period, driven by a new factor system, a restructured institutional framework, and an innovative service system in the capital market [1]. Group 1: New Factor System - The new factor system, represented by talent and new assets, is becoming a new driving force for China's economic growth. The "14th Five-Year Plan" highlights the importance of technological innovation and original breakthroughs [2]. - Accumulation of technological factors will enable breakthroughs in future industries such as artificial intelligence, biomedicine, hydrogen energy, nuclear fusion, embodied intelligence, and 6G mobile communication [2]. - Data factors will drive economic growth by transforming consumption channels and habits, leading to new consumption patterns such as service consumption, emotional consumption, and integrated consumption [2]. Group 2: New Institutional Framework - The capital market is expected to enhance its quality and capacity under the guidance of policies aimed at activating the market and coordinating investment and financing functions [3]. - Reforms in the capital market's basic systems will significantly improve market inclusiveness and adaptability, with a focus on deepening reforms in the Sci-Tech Innovation Board, Growth Enterprise Market, and Beijing Stock Exchange [3]. - The formation of a healthy market ecosystem will enhance the attractiveness of the Chinese market, promoting mutual constraints and cooperation among institutional investors, intermediaries, listed companies, and retail investors [3]. Group 3: New Service System - The company is accelerating reforms in its organizational structure, management model, and business system to adapt to changes in the economic landscape, focusing on a comprehensive service system [4]. - In financing services, the company is developing diversified service solutions that encompass venture capital, IPOs, mergers and acquisitions, refinancing, asset securitization, ESG, and strategic consulting [4]. - The investment service aims to meet diverse asset allocation needs of investors with a robust product offering, while trading services are enhancing liquidity support through innovative products like OTC derivatives, market making, ETFs, and carbon finance [4].

Core Viewpoints - The year 2026 marks the beginning of a new phase of high-quality development for China's economy and capital markets, as highlighted by Liu Jian, Chairman of Shenwan Hongyuan [3][5]. Economic Outlook - The economy is expected to experience a "non-typical" recovery in 2026, driven by the retreat of the "scar effect" and ongoing domestic demand expansion policies. Key factors contributing to export resilience include fiscal expansion in developed economies, easing of China-U.S. tariff conflicts, and improvements in China's industrial competitiveness [4][11]. - The "14th Five-Year Plan" emphasizes the importance of technological innovation and original breakthroughs, with R&D expenditure projected to exceed 3.6 trillion yuan in 2024, representing about 2.69% of GDP, surpassing Japan and South Korea in scale [5][10]. Capital Market Development - The capital market is set to enter a new stage of high-quality development, with a focus on direct financing and reforms in the Sci-Tech Innovation Board, Growth Enterprise Market, and Beijing Stock Exchange. This will enhance the market's inclusiveness and adaptability [5][8]. - The formation of a healthy market ecosystem is expected to significantly increase the attractiveness of the market, with institutional investors' share of the market value projected to exceed 20% by the end of 2024 [8]. Bull Market Analysis - The bull market is far from over, with the potential for a two-phase bull market structure. The first phase, termed "Bull Market 1.0," occurred in 2025, while the second phase, "Bull Market 2.0," may begin in the second half of 2026 [4][15]. - The cyclical improvement in fundamentals, the strengthening of emerging industries, and the shift of residents' asset allocation towards equities are expected to support a comprehensive bull market [15].

Core Viewpoint - The event "China Unicom Data Element Empowerment Sichuan Digital Economy Achievement Conference" highlights the importance of data element industry development as a key driver for upgrading the digital economy in Sichuan, showcasing the province's commitment to national digital economy strategies [3][7]. Group 1: Event Overview - The 2025 Tianfu Digital Economy Conference commenced in Chengdu, featuring the specialized session on data empowerment, attracting over 300 participants from various sectors [1][3]. - The conference focused on "one unveiling, two capabilities, and three achievements," systematically presenting a new landscape for Sichuan's digital economy [1][3]. Group 2: Strategic Initiatives - Sichuan Unicom aims to transform data elements from "resources" to "productivity" by strengthening the digital foundation, deepening the integration of data and reality, and fostering an innovative ecosystem [3]. - The unveiling of the Southwest Intelligent Innovation Center by China Unicom is a strategic move to enhance data collection, algorithm development, and application scenarios, supporting the growth of the artificial intelligence industry [3][5]. Group 3: Key Achievements - Sichuan Unicom showcased two significant enabling achievements: a comprehensive analysis system for the cultural tourism sector and an integrated financial service system that enhances credit support through quality data resource integration [5]. - Collaborative projects, such as the urban data infrastructure construction with Chengdu Data Group, aim to facilitate the integration of public and social data, while the "Chuanjing e-Lan" mobile app provides real-time economic data for better economic regulation [5]. Group 4: Collaborative Efforts - The conference emphasized the establishment of a collaborative data element cooperation system among ecological partners, reinforcing the digital foundation of Sichuan and promoting the release of data value [7]. - The successful hosting of the conference reflects Sichuan's strong economic vitality in the data element sector and its potential to become a national hub for data element circulation [7].

2025年全球形势复杂多变，A股市场走出一波上涨行情。那么即将到来的2026年，宏观经济将会如何演 绎，A股市场上涨行情是结束还是蓄势待发？ 对于A股策略方面，申万宏源研究A股策略首席分析师傅静涛认为，A股AI产业链股价已处于长期低性 价比区域，但大波段上涨行情尚未结束，2026年春季前科技成长可能还有小波段反弹，在达到阶段性高 点后可能震荡调整，2026年下半年，A股可能启动全面上涨行情。 "十五五"规划建议进一步明确，采取超常规措施，全链条推动集成电路、工业母机、高端仪器、基础软 件、先进材料、生物制造等重点领域关键核心技术攻关取得决定性突破。 赵伟称，这一表述凸显了当前科技竞争的严峻性与我国突破"卡脖子"难题的决心，超常规措施或将体现 在研发投入强度提升、科研体制机制改革、创新生态优化等多个维度。"人工智能+"行动的全面实施或 成重要抓手，旨在抢占人工智能产业应用制高点，全方位赋能千行百业。 同时，"十五五"规划建议首提"续写经济快速发展和社会长期稳定两大奇迹新篇章"。赵伟认为，续 写"两大奇迹"，对未来一段时期的经济增速有基本要求，或意味着内需政策将在中长期改革框架下持续 加强。 从内需的角度来看，赵 ...