9月16日，三六零盘中上涨2.03%，截至09:46，报11.06元/股，成交2.38亿元，换手率0.31%，总市值 774.15亿元。 机构持仓方面，截止2025年6月30日，三六零十大流通股东中，香港中央结算有限公司位居第四大流通 股东，持股2.08亿股，相比上期增加4869.99万股。华泰柏瑞沪深300ETF（510300）位居第五大流通股 东，持股6232.94万股，相比上期增加502.00万股。易方达沪深300ETF（510310）位居第六大流通股 东，持股4444.77万股，相比上期增加437.38万股。华夏沪深300ETF（510330）位居第七大流通股东， 持股3259.37万股，相比上期增加543.67万股。易方达中证人工智能主题ETF（159819）位居第八大流通 股东，持股3005.26万股，相比上期增加44.20万股。嘉实沪深300ETF（159919）位居第九大流通股东， 持股2809.14万股，相比上期增加283.88万股。 资金流向方面，主力资金净流入323.01万元，特大单买入3488.01万元，占比14.64%，卖出3069.24万 元，占比12.88%；大单买入4875.9 ...

Core Viewpoint - The stock of Fenghuo Communication has shown a significant increase in price and trading activity, indicating positive market sentiment and potential investment opportunities [1][2]. Company Overview - Fenghuo Communication, established on December 25, 1999, and listed on August 23, 2001, is located in Wuhan, Hubei Province. The company specializes in the research, production, and sales of network information security products and mobile information products [1]. - The main revenue composition includes: 78.51% from communication system equipment, 18.02% from optical fiber cables, 1.98% from data network products, and 1.49% from other sources [1]. Stock Performance - As of September 16, the stock price increased by 2.04% to 25.48 CNY per share, with a total market capitalization of 32.386 billion CNY. The stock has risen 32.15% year-to-date [1]. - In the last five trading days, the stock rose by 5.16%, while it decreased by 1.74% over the past 20 days and increased by 24.54% over the last 60 days [1]. Trading Activity - The net inflow of main funds was 8.049 million CNY, with significant buying activity from large orders, indicating strong investor interest [1]. - The company has appeared on the "Dragon and Tiger List" once this year, with a net purchase of 259 million CNY on February 19 [1]. Financial Performance - For the first half of 2025, Fenghuo Communication reported a revenue of 11.117 billion CNY, a year-on-year decrease of 19.73%, while the net profit attributable to shareholders increased by 32.02% to 287 million CNY [2]. Shareholder Information - As of June 30, 2025, the number of shareholders decreased by 8.49% to 128,200, with an average of 9,102 circulating shares per shareholder, which increased by 9.28% [2]. - The company has distributed a total of 3.791 billion CNY in dividends since its A-share listing, with 494 million CNY distributed in the last three years [3]. Institutional Holdings - As of June 30, 2025, Hong Kong Central Clearing Limited is the third-largest circulating shareholder, holding 15.7589 million shares, an increase of 242,300 shares from the previous period [3].

随着金融数字化转型的加速，我们在享受投资便利的同时，也面临全新的信息安全挑战。在这个信息即资 产的时代，保护个人信息安全已成为守护财富重要一环。 当前，投资者信息安全面临多重挑战。网络钓鱼、社交平台诈骗、虚假投资平台等新型风险层出不穷。这 些安全威胁不仅可能造成直接经济损失，更会影响投资决策的准确性和及时性。 安全防护：从意识开始 我们建议投资者建立以下安全习惯：首先，验证永远是第一原则。接到自称金融机构的来电或信息时，请 务必通过官方渠道进行二次验证。正规机构的客服人员不会索要您的账户密码或动态验证码。 其次，下载软件请认准官方渠道。建议通过证券公司官网或主要应用商店下载交易软件，安装前仔细核对 开发者信息，避免使用来历不明的第三方软件。 信息风险：看不见的投资成本 共同守护：投资安全需要您的参与 信息安全需要机构与投资者共同努力。当发现任何可疑情况时，请您立即通过官方客服渠道与我们联系， 也可拨打客服热线进行咨询。 投资之路，安全为先。让我们携手共建安全可靠的投资环境，守护好您的信息资产，为财富保驾护航。 最后，注意网络环境安全。尽量避免使用公共WiFi进行交易操作，如需使用请通过加密方式连接。定期 更新 ...

Core Insights - The manufacturing industry is experiencing rapid growth in data assets due to digital transformation, but faces significant information security challenges, including data leaks and compliance issues [1][18] - Tianrui has launched a comprehensive security solution that includes terminal security management systems and network behavior auditing platforms to address these challenges [1][18] Security Solutions - Tianrui's security products create a full-scenario security loop covering terminals, networks, behaviors, and files, enhancing compliance capabilities [1] - The Tianrui Green Shield solution employs transparent encryption, permission control, and watermarking to protect sensitive data from unauthorized access [12] - The solution also includes behavior control for terminal usage, ensuring compliance with internal policies and reducing risks from employee actions [13] Remote Access Challenges - Many enterprises face technical barriers such as high network costs and unstable remote connections when deploying security solutions across multiple locations [3] - Beirui's Peanut Shell provides a cost-effective remote access solution that enhances stability and security for enterprises with remote branches and traveling personnel [4][6] Implementation and Integration - The Tianrui solution can be deployed on local servers with Beirui's Peanut Shell facilitating secure public access without the need for complex configurations [8] - The system supports seamless integration with existing business processes and systems, enhancing user experience and operational efficiency [16] Compliance and Auditing - Tianrui Green Shield offers comprehensive logging capabilities to meet regulatory requirements, ensuring that all data operations are auditable [14] - The solution includes features for mobile office security, allowing employees to access sensitive data securely even in offline environments [15] Data Control Mechanisms - The system provides mechanisms to control the external sharing of sensitive files, allowing enterprises to track and manage the flow of information [17] - It supports multi-dimensional access control, enabling precise settings for access based on time, IP address, and device type [10] Industry Importance - For the manufacturing sector, data assets are critical to competitive advantage, making the establishment of a robust information security system a necessity rather than an option [18]

9月12日，国民技术盘中上涨2.12%，截至13:19，报25.99元/股，成交6.31亿元，换手率4.35%，总市值 151.55亿元。 国民技术所属申万行业为：电子-半导体-数字芯片设计。所属概念板块包括：电子支付、EDA概念、数 字货币、信息安全、区块链等。 截至6月30日，国民技术股东户数16.00万，较上期减少2.33%；人均流通股3539股，较上期增加2.25%。 2025年1月-6月，国民技术实现营业收入6.32亿元，同比增长22.74%；归母净利润-3678.19万元，同比增 长72.54%。 分红方面，国民技术A股上市后累计派现2.11亿元。近三年，累计派现0.00元。 机构持仓方面，截止2025年6月30日，国民技术十大流通股东中，南方中证1000ETF（512100）位居第 一大流通股东，持股538.88万股，相比上期增加102.43万股。华夏中证1000ETF（159845）位居第二大 流通股东，持股317.76万股，相比上期增加75.63万股。香港中央结算有限公司位居第五大流通股东，持 股278.11万股，相比上期减少106.27万股。广发中证1000ETF（560010）位居第七大 ...

Investment Rating - The investment rating for the company is "Buy" with an expectation of returns exceeding 10% relative to the CSI 300 index over the next six months [2][13]. Core Viewpoints - The company's revenue for the first half of 2025 was CNY 26.85 billion, a decrease of 12.05% year-on-year, while the net profit attributable to shareholders was CNY 5.09 billion, down 19.26% year-on-year [1][7]. - The mobile gaming business generated revenue of CNY 20.28 billion, a decline of 16.41% year-on-year, attributed to the maturation of two major products [7]. - The company is focusing on AI, cloud services, and ICT sectors, with a new model application system launched in 2025H1, enhancing operational efficiency and user experience [9]. - The company is positioned to benefit from the growth of its overseas mobile gaming business and the expansion of its AI and cloud services [9]. Financial Performance Summary - In 2025H1, the overall gross margin was 59.83%, down 2.48 percentage points year-on-year, while the net profit margin was 18.78%, down 1.63 percentage points year-on-year [1][7]. - The company’s total assets were CNY 6,802.77 million in 2023, projected to grow to CNY 12,839.62 million by 2027 [12]. - The projected net profit for 2025 is CNY 1.36 billion, with an expected EPS of CNY 0.69, corresponding to a PE ratio of 19.24 [10].

Core Viewpoint - Wangsu Technology's stock has shown a positive trend with a year-to-date increase of 8.91%, reflecting investor confidence in its business model and market position [1][2]. Financial Performance - For the first half of 2025, Wangsu Technology reported revenue of 2.351 billion yuan, a year-on-year increase of 2.19%, and a net profit attributable to shareholders of 373 million yuan, representing a growth of 25.33% [2]. - Cumulative cash dividends since the company's A-share listing amount to 2.169 billion yuan, with 1.338 billion yuan distributed over the past three years [3]. Shareholder Structure - As of August 29, 2025, the number of shareholders decreased to 179,000, while the average number of circulating shares per person increased to 12,807 shares [2]. - The top circulating shareholders include E Fund's ChiNext ETF and Southern CSI 500 ETF, with notable changes in their holdings [3]. Stock Performance - As of September 11, 2025, Wangsu Technology's stock price was 11.24 yuan per share, with a market capitalization of 27.49 billion yuan [1]. - The stock has experienced a 3.79% increase over the last five trading days, but a 2.60% decrease over the past 20 days [1]. Business Overview - Wangsu Technology, established on January 26, 2000, specializes in providing global content delivery network (CDN) services, internet data center (IDC) services, and cloud computing services [1]. - The revenue composition includes 64.34% from CDN and edge computing, 27.51% from security and value-added services, 5.36% from IDC and liquid cooling, and 2.79% from product sales and others [1]. Industry Position - Wangsu Technology is classified under the computer-IT services sector, specifically in IT services [1]. - The company is associated with various concept sectors, including Huawei Kunpeng, information security, financial technology, online education, and cloud video [1].

Core Viewpoint - The stock of Beijing Beixin Source Software Co., Ltd. has shown a positive trend with a year-to-date increase of 19.13%, despite a recent decline in revenue and profit margins [1][2]. Group 1: Stock Performance - As of September 11, the stock price increased by 2.11% to 6.29 CNY per share, with a trading volume of 1.82 billion CNY and a turnover rate of 2.31%, resulting in a total market capitalization of 9.119 billion CNY [1]. - The stock has experienced a net outflow of 5.9608 million CNY from main funds, while large orders accounted for 18.97% of total buying and 23.11% of total selling [1]. - Over the past five trading days, the stock has risen by 3.11%, and over the last 20 and 60 days, it has increased by 6.07% and 11.13%, respectively [1]. Group 2: Company Overview - Beijing Beixin Source Software Co., Ltd. was established on May 28, 1996, and went public on September 12, 2012. The company specializes in the development, production, sales, and technical services of information security software products [2]. - The company's revenue composition includes software products (51.85%), technical services (22.30%), system integration (16.47%), and others (9.37%) [2]. - The company operates in the computer software development sector, focusing on vertical application software, and is involved in concepts such as digital currency, data elements, blockchain, information security, and digital economy [2]. Group 3: Financial Performance - For the first half of 2025, the company reported a revenue of 1.08 million CNY, a year-on-year decrease of 53.72%, and a net profit attributable to shareholders of -97.1146 million CNY, down 47.94% year-on-year [2]. - Since its A-share listing, the company has distributed a total of 1.17 million CNY in dividends, with no dividends paid in the last three years [3]. - As of June 30, 2025, the number of shareholders increased to 100,200, with an average of 12,744 shares per person, a decrease of 4.04% from the previous period [2].

Group 1 - The stock price of Guomin Technology increased by 2.02% on September 11, reaching 25.22 CNY per share, with a trading volume of 304 million CNY and a turnover rate of 2.16%, resulting in a total market capitalization of 14.706 billion CNY [1] - Year-to-date, Guomin Technology's stock price has risen by 5.79%, with a 1.90% increase over the last five trading days, a 0.63% decrease over the last 20 days, and a 9.27% increase over the last 60 days [1] - Guomin Technology has appeared on the "Dragon and Tiger List" twice this year, with the most recent occurrence on April 9, where it recorded a net purchase of 200 million CNY [1] Group 2 - Guomin Technology, established on March 20, 2000, and listed on April 30, 2010, is based in Shenzhen, Guangdong Province, and specializes in the development and sales of security and communication chip products and solutions [2] - The company's main business revenue composition includes integrated circuits and key components (50.98%), negative electrode materials (46.02%), and others (3.00%) [2] - As of June 30, 2025, Guomin Technology reported a revenue of 632 million CNY, representing a year-on-year growth of 22.74%, while the net profit attributable to shareholders was -36.78 million CNY, showing a year-on-year increase of 72.54% [2] Group 3 - Since its A-share listing, Guomin Technology has distributed a total of 211 million CNY in dividends, with no dividends paid in the last three years [3] - As of June 30, 2025, the largest circulating shareholder of Guomin Technology is the Southern CSI 1000 ETF, holding 5.3888 million shares, an increase of 1.0243 million shares compared to the previous period [3] - New shareholders include the Huaxia Growth ETF, holding 1.3498 million shares, and the Fortune CSI 1000 ETF, holding 1.0014 million shares [3]

Group 1 - The China Securities Information Technology Application Innovation Industry Index has risen by 1.55%, with notable increases in component stocks such as GeLun Electronics up 7.03% and HaiGuang Information up 6.44% [1] - The XinChuang ETF (562570) has seen a price increase of 1.16%, with a latest price of 1.39 yuan, and a trading volume of 29.3955 million yuan [1] - The XinChuang ETF has experienced significant growth in scale, increasing by 76.173 million yuan over the past six months, and its shares have grown by 89 million shares during the same period [1] Group 2 - GuoXin Securities highlights the acceleration of global AI investments in the CSP arms race, benefiting the computing power infrastructure [2] - The XinChuang ETF (562570) tracks the China Securities Information Technology Application Innovation Industry Index, focusing on leading companies in AI, data computing, industrial software, and information security [2] - The three major telecom operators are considered important assets for dividend allocation, with stable operations and increasing dividend payout ratios [2]