证券代码： 300168 证券简称：万达信息 万达信息股份有限公司投资者关系活动记录表 | 投资者关系活动 | □特定对象调研 □ 分析师会议 | | | --- | --- | --- | | 类别 | 媒体采访 业绩说明会 √ | □ | | | 路演活动 新闻发布会 □ | □ | | | 现场参观 | □ | | | 其他 （请文字说明其他活动内容） | □ | | 参与单位名称及 | 投资者网上提问 | | | 人员姓名 | | | | 时间 | 2025 年 5 月 9 日 (周五) 下午 15:00~17:00 | | | 地点 | 公司通过全景网"投资者关系互动平台"（https://ir.p5w.net） | | | | 采用网络远程的方式召开业绩说明会 | | | 上市公司接待人 | 1、副董事长、总裁钱维章 | | | 员姓名 | 2、独立董事孟添 | | | | 3、高级副总裁、董事会秘书张丽艳 | | | | 4、高级副总裁、财务总监何红 | | | | 5、保荐代表人欧阳凌 公司就投资者在本次说明会中提出的问题进行了如下回复： | | | | 1、公司最近订单情况怎么样？ | | ...

金融科技（FinTech）行业 | 洞察报告 核心摘要： 在信创建设稳步推进的背景下，建设以技术迭代与创新化应用为核心驱动的金融业务价值提升体系 ， 政策 聚焦 "科技-产业-金融"为主体的科技金融循环体系建设，强调数据要素在金融业务场景的多元化、依法合 规应用 。 金融市场的繁荣与科技行业的飞速发展共同推动国内金融科技市场规模持续走高，预计将以约 13.3%的复合增长率于2028年突破6500亿元 。本篇报告将结合业内专家观点与典型案例展示，分析在 《金融科技发展规划（ 2022-2025）》收官之年，国内金融机构数智化转型进程与金融科技行业的发展现 状。 近况解读：国内金融科技行业现状分析 在信创建设稳步推进的背景下，建设以技术迭代与创新化应用为核心驱动的金融业务 价值提升体系 政策剖析:近年金融科技行业政策解读 政策聚焦"科技-产业-金融"为主体的科技金融循环体系建设，强调数据要素在金融业 务场景的多元化、依法合规应用 随着金融科技应用与数智化转型进程的推进，国内金融机构已从"立梁架柱"的统筹阶段逐步迈 入"厚积成势"的攻坚阶段，指导性政策的关注点逐渐由技术在业务场景的应用转向产品技术的 可持续迭代与回 ...

Group 1: AI Capabilities and Innovations - The company focuses on developing the "Kechuang Xingyun" large model, which includes four main platforms: MaaS platform, intelligent agent platform, scenario-based data intelligence, and AI security capabilities [1][2] - The company has launched innovative AI products such as AI coding assistants, customer service assistants, operational detection assistants, and law enforcement training assistants, driving the transformation of traditional software to AI-driven solutions in various industries [1][2] Group 2: R&D Investment - The company emphasizes sustainable development through continuous R&D investment, focusing on AI (large models), data elements, high-trust software, and intelligent BMS/BEMS technologies [3] - The R&D investment is crucial for maintaining the company's competitive edge and fostering innovation in its product offerings [3] Group 3: Core Software Business Performance - The digital application business is the cornerstone of the company, leveraging over 20 years of industry experience to provide innovative AI products and services to clients in telecommunications, energy, transportation, and government sectors [4] - The company has established a strong client base, including Fortune 500 companies and government entities, and anticipates steady growth in AI applications due to technological advancements and supportive national policies [4] Group 4: Intelligent Products and Applications - The company has developed a series of intelligent agent products based on knowledge computing and high-trust software technologies, facilitating the integration of large models into industry applications [5] - These products include customer service, operational scheduling, equipment maintenance, and traffic enforcement, which have been successfully implemented in various scenarios [5] Group 5: BMS Business Development - The BMS product line is recovering, with the company expanding its market presence and maintaining core supplier status for strategic clients like Chery and BAIC [7] - New customer acquisitions in the PACK product segment include Henan Chaowei, Camel Group, and XCMG, with applications in commercial vehicles and special vehicles [7] Group 6: Industry Outlook and Growth Opportunities - The software and information technology service industry is expected to grow significantly due to advancements in AI and digitalization, creating new demands and opportunities [8] - The company aims to leverage its strengths in brand, industry experience, and technological innovation to identify new business growth points in digital applications and operations [9] Group 7: Financial Performance and Challenges - The company is actively implementing a digital intelligence development strategy, focusing on operational goals and enhancing business quality despite facing challenges [9][10] - Specific financial data and performance metrics are available in the company's regular reports [10]

流动性方面，数据ETF盘中换手3.13%，成交1318.82万元。拉长时间看，截至5月8日，数据ETF近1周日 均成交2736.56万元。 份额方面，数据ETF近1年份额增长2.46亿份，实现显著增长，新增份额位居可比基金第一。 万联证券指出，随着算力需求从训练侧向推理侧的转移趋势，也将进一步加速 AI 大模型的应用场景落 地。国内头部云厂商及三大运营商最新披露的资本开支规划显示，国内的智算需求仍将持续上行。例如 中国移动在2025年算力领域计划投资373亿元，其中智算规模（FP16）预计超34EFLOPS，且对推理资 源投资 "不设上限"；中国联通则计划2025年固定资产投资达550亿元，算力投资同比增长28%，均强调 算力资源将重点支持预训练模型及推理场景需求，以响应市场对智能化服务的爆发式增长。 截至5月9日收盘，中证大数据产业指数（930902）下跌2.24%。成分股方面，东华软件领跌6.16%，*ST 东通下跌5.73%，盛视科技下跌5.12%，易点天下下跌5.06%，云天励飞下跌3.9%。数据ETF（516000） 下跌2.1%，最新报价0.93元。拉长时间看，截至2025年5月8日，数据ETF近 ...

Core Insights - The AI industry is experiencing rapid technological iterations, with significant developments in generative AI and data becoming a core asset for AI application companies [1][5][7] - The investment focus of Guofang Innovation has shifted towards digital intelligence, particularly in AI and data elements, with a clear strategy to identify and invest in core nodes within the AI industry chain [3][9] Investment Strategy - Guofang Innovation has been investing in AI since 2017, transitioning from a mother fund to direct investments in companies like SenseTime and Suiyuan Technology, recognizing the shift from traditional AI to generative AI [3][4] - The company emphasizes the importance of computing power, algorithms, and data as the three pillars of AI, actively seeking core nodes in the AI industry chain for investment opportunities [3][4] Market Trends - The emergence of DeepSeek highlights the need to focus on young, organized R&D teams capable of achieving disruptive innovation [4][7] - The business model for B-end clients is expected to evolve from selling software to providing end-to-end services, indicating a significant shift in how AI applications are delivered [4][7] Future Outlook - The AI industry is still in its early stages, with ongoing iterations and explorations of generative AI technology, suggesting that there is substantial room for growth and innovation [6][8] - Guofang Innovation anticipates that data will become a critical asset, with unique and deeply accumulated data sets serving as a competitive barrier for entrepreneurs [7][8] Ecosystem Development - The company is focused on building an AI ecosystem, linking entrepreneurs with upstream and downstream enterprises to expand the market [4][9] - Guofang Innovation's investment methodology involves identifying clear trends, selecting key nodes in the industry chain, and building a comprehensive ecosystem around these nodes [9]

上海市大数据股份有限公司副总裁姚震表示，数据基础设施要高效联通、数据资源和规模要加快提升， 最终都需要推动数据要素价值的有效释放，而数据只有在流通中才能发挥价值。在他看来，当前，数据 流通还存在诸多问题，包括供给方对数据要素价值的认知不够充分且缺乏可信合规的持续输出渠道、数 据的需求方很难匹配到符合业务场景的数据等。 上海财经大学上海国际金融中心研究院金融科技首席专家张立文表示，金融机构已经无法单靠"人力 +经验"应对未来10年的挑战，而是需要更智能、更结构化的方式面对复杂的变化，"AI大模型已从工具 变成了伙伴"。 活动现场还宣布成立"黄浦区数据要素产业生态发展联盟"，首批成员包括德勤中国、逐鹿信息、网科鸿 欣等企业。联盟旨在搭建开放共享的产业协作网络，推动数据要素在细分领域的互补合作，探索数据流 通的新模式与新路径。联盟的成立标志着黄浦区数据要素产业生态迈入新阶段，将为区域数字经济发展 注入强劲数据动能。 5月8日，在上海黄浦区举办的2025年"数据要素×"大赛上海分赛金融服务赛道宣贯大会上，上海金融数 据创新实验室正式揭牌。该实验室由黄浦区数据局与上海数据集团共建，将以金融领域公共数据开发利 用为重点， ...

Group 1 - The core viewpoint of the articles highlights the positive performance of the data ETF and its underlying index, indicating a growing interest in the data industry and AI-related sectors [1][2] - As of May 8, the CSI Big Data Industry Index rose by 0.86%, with notable increases in constituent stocks such as *ST Dongtong (up 15.62%) and Donghua Software (up 9.96%) [1] - The data ETF (516000) experienced a significant increase, reaching a price of 0.96 yuan, with a 5-day cumulative rise of 6.12% as of May 7 [1] Group 2 - Market sentiment has improved in May, with a focus on technology growth, particularly in domestic computing power and AI Agent sectors, driven by investments from major companies like Google and Microsoft [2] - The emergence of the DeepSeek-R1 model is seen as a foundational development for domestic AI Agent creation, indicating a shift towards deeper thinking models in AI [2] - The data ETF and its associated funds closely track the CSI Big Data Industry Index, focusing on key areas such as data elements, data security, and the East Data West Computing initiative, with major stocks including iFlytek and Inspur Information [2]

Core Viewpoint - The People's Bank of China Shenzhen Branch, along with nine other departments, has issued the "Implementation Opinions" to accelerate the digital transformation of financial institutions and support the development of a "Digital Shenzhen" model through 18 specific measures aimed at enhancing digital finance innovation and governance [1] Group 1: Digital Transformation and Innovation - The "Implementation Opinions" require financial institutions to establish a coordinated mechanism led by top management to enhance cross-departmental resource allocation and task supervision, promoting the application of artificial intelligence and domestic reasoning models [2] - Financial institutions are encouraged to leverage major national strategic platforms to expand cross-border cooperation with Hong Kong and innovate in supply chain finance [2] Group 2: Product Development and Services - Financial institutions are urged to utilize digital technologies such as AI and big data to create innovative products like "Tengfei Loan," "Carbon Reduction Loan," and "Cross-border Loan," while exploring data asset credit enhancement and green financial products [3] - The "Implementation Opinions" promote the development of standardized, traceable green bonds and insurance products, as well as the innovation of cross-border financial services using blockchain technology [3] Group 3: Payment and Credit Systems - The document emphasizes the promotion of digital RMB applications in public services and supply chain finance, and the establishment of a comprehensive payment demonstration area in Shenzhen [4] - It highlights the integration of credit information across various sectors to enhance the effectiveness of financial services and support the "Five Major Articles" of finance [4] Group 4: Regulatory Framework and Risk Management - Shenzhen is focusing on financial regulatory innovation and risk prevention, having initiated testing for 15 financial technology innovation projects [5] - The "Implementation Opinions" advocate for the enhancement of digital regulatory capabilities and the establishment of a comprehensive data governance system to mitigate risks related to data privacy and security [5]

及时发现热异常点，提高禁烧工作效能，保障空气质量。 ▎合作需求 ▎合作方式 联合运营、测试验证、采购应用 ▎预算金额 ✦+ 合肥市场景公司 合肥市场景应用创新促进中心有限公司(简称合肥市场景公司)，是由科大硅谷服务平台公司、合肥市滨投公司、合肥市高新控股集团、合肥兴泰金融控股 集团、合肥市科创集团以及长城战略共同出资设立，接受合肥市发改委指导，是统筹全市场景创新工作和联动全市场景资源的平台公司，是全国首个以场 景应用创新命名的企业法人机构，是"政府指导、国资参股、市场运作"的创新载体，是促进新技术新产品新场景大规模应用示范、赋能科技创新企业发 展、培育未来产业的创新平台。 场景机会 ▎巢湖市卫星遥感监测秸秆焚烧火点 ▎安徽瞬芯科技有限公司 50万元 ▎报名方式 国家发改委价格成本和认证中心与安徽瞬芯科技签署了《低空经济物联网公共数据价格形成机制研究》课题合作围绕低空经济领域数据定价的核心问题开 展研究，旨在建立符合低空经济物联网领域特点的公共数据价格形成机制，并推动形成低空经济物联网公共数据价格评估行业标准与技术规范。 申报单位于5月15日18:00前提交PPT资料(内容包括但不限于单位基本情况、核心技术产品 ...

证券研究报告：计算机|点评报告 行业投资评级 强于大市 |维持 行业基本情况 | 收盘点位 | | 4675.66 | | --- | --- | --- | | 52 | 周最高 | 5440.49 | | 52 | 周最低 | 2805.53 | 行业相对指数表现（相对值） 2024-05 2024-07 2024-09 2024-12 2025-02 2025-05 -24% -17% -10% -3% 4% 11% 18% 25% 32% 39% 46% 计算机 沪深300 资料来源：聚源，中邮证券研究所 研究所 分析师:孙业亮 SAC 登记编号:S1340522110002 Email:sunyeliang@cnpsec.com 分析师:常雨婷 SAC 登记编号:S1340523080001 Email:changyuting@cnpsec.com 近期研究报告 《MCP 开启智能体新时代》 - 2025.04.27 数据价值转化加速，高质量数据集赋能 AI 多地市提出建设高质量数据集。4 月 17 日，广州城市可信数据 空间平台正式上线，首批 48 个高质量数据集发布。厦门、武汉等地 提出针对企业 ...