近两年，公募基金在支持国家战略与服务实体经济上不断创新。如科创新能源ETF、上证科创板综合指 数增强基金等，助力科技企业发展；双创及北交所主题基金表现亮眼，为中小企业融资添力；推出聚焦 特定区域产业的ETF产品。同时，公募REITs拓展底层资产至保障性住房、新能源基建等领域。这些创 新有力推动了实体经济发展与产业升级。宝盈基金也深入参与其中，近年来，我们充分发挥自身在科技 成长领域的专业投资优势，先后布局了芯片产业、人工智能、低空经济、智能制造等战略性新兴产业， 以及生物制造、具身智能、6G、深海科技等未来产业相关主题产品，积极支持国家科技创新和产业升 级，助力实现高水平科技自立自强。 专题：2025基金高质量发展大会 5月24日，由新浪财经主办的2025基金高质量发展大会在深圳隆重启幕。大会汇聚学术界顶尖专家、公 私募基金领军人物、券商领袖及首席经济学家等业界翘楚，共话基金行业高质量发展新路径。宝盈基金 总经理杨凯出席会议并作主题演讲。 杨凯称，"察势者明，趋势者智，驭势者独步天下"。当下，公募基金行业正进入深刻变革、迈向全新发 展的阶段。精准分析行业发展的逻辑重构，洞察增长动能转换的关键脉络，不仅是把握时 ...

责编：李丹 校对：冉燕青 版权声明 证券时报各平台所有原创内容，未经书面授权，任何单位及个人不得转载。我社保留追 究相关 行 为主体 法律责任的权利。 加大资本市场对算力芯片产业的支持力度。 5月21日，深交所主办了第二十四期"创享荟"活动，围绕算力芯片领域开展专题交流。来自算力芯片设计与制 造、光模块、存储、整体服务商等产业链细分领域上市公司、拟上市企业及创投、券商等30余家企业与市场机 构代表参加。 本次活动以"东方欲晓"为主题，寓意国内算力芯片企业坚持自主创新，突破重重困难挑战的成长进程。与会嘉 宾围绕算力芯片产业在技术创新、产业链完善、资本市场政策支持等方面的机遇挑战与应对思路进行深入讨 论。大家一致认为，算力芯片作为人工智能、云计算、自动驾驶等领域的核心硬件，正成为全球科技竞争的战 略制高点。培育国产算力芯片企业是加快发展新质生产力、支持高水平科技自立自强的必然要求。 有嘉宾提出，在AI大模型规模化应用背景下，全球智能算力需求呈现指数级攀升，要持续加强基础研究，集 中力量攻克高端芯片、基础软件等核心技术，大力推进算力基础设施建设，深化数据资源开发利用和开放共 享。有嘉宾表示，我国算力芯片产业处于国产 ...

Core Viewpoint - The company is actively progressing in its strategic initiatives, particularly in the cloud computing and digital services sectors, while also maintaining a focus on international expansion, especially in Saudi Arabia [2][3][5]. Financial Performance - For Q1 2025, the company reported revenue of 177 million yuan, representing a year-on-year growth of 24.77% [6][7]. - In 2024, the company achieved an operating income of 787.88 million yuan, a 9.02% increase compared to the previous period, with a net profit of 25.87 million yuan, marking a significant growth of 247.18% [3][5]. Strategic Initiatives - The company is committed to enhancing its capabilities in computing power and cloud services, with plans to increase investment in these areas [2][3]. - The "Lianang Lingcan Cloud" computing platform is positioned as a key resource pool for model training, offering flexible and cost-effective services [3]. Market Position and Expansion - The company is involved in the Saudi CEER electric vehicle factory MEP project, which is part of Saudi Arabia's Vision 2030, and has secured contracts worth 75 million yuan in this regard [2][3]. - The company aims to expand its market presence beyond Xinjiang, targeting both domestic and international markets to enhance its competitive edge [7]. Shareholder Returns - The company announced that it will not distribute cash dividends, issue bonus shares, or convert capital reserves into share capital for the 2024 fiscal year [8]. Research and Development - In 2024, the company invested 27.33 million yuan in R&D, accounting for 3.47% of its operating income [4].

Group 1 - The core viewpoint of the articles highlights the transformation of Chinese enterprises' globalization efforts from manufacturing output to a comprehensive upgrade involving technology, ecology, and compliance capabilities, with cloud computing and AI as the driving forces [2][5]. - Alibaba Cloud plans to invest over 380 billion RMB in the next three years to build cloud and AI hardware infrastructure, which is more than the total investment of the past decade [2][7]. - Chinese companies are increasingly focusing on technology and ecological collaboration to enhance their global competitiveness, with AI technology innovation being a key competitive advantage [3][5]. Group 2 - Companies like GAC Group and Aishi Technology are showcasing the new trends in Chinese enterprises going global, emphasizing the importance of AI and ecological synergy in their strategies [3][4]. - GAC Group has adopted a hybrid architecture planned by Alibaba Cloud to address compliance challenges and has successfully built an overseas vehicle networking system on Alibaba Cloud [4][5]. - Aishi Technology's AI video generation platform, PixVerse, has gained over 60 million global users, demonstrating the rapid growth and international appeal of Chinese tech innovations [5][6]. Group 3 - Alibaba Cloud has already served 250,000 Chinese enterprises going global, covering various industries, indicating its significant role in supporting Chinese companies in their international expansion [4][5]. - The articles emphasize that the technological gap has diminished, allowing Chinese enterprises to compete on equal footing with global counterparts in cloud computing and AI [4][6]. - Alibaba Cloud is accelerating the internationalization of AI products and expanding its overseas AI infrastructure, which includes services that cover 17 global regions [7].

Group 1 - The event "Investors Come" aimed to enhance investor understanding and trust in listed companies, thereby boosting investor confidence and promoting effective communication between companies and investors [1][4] - The event was co-hosted by Beijing Listed Companies Association and CITIC Securities, with over 60 participants including analysts and institutional investors [1][3] - The initiative aligns with the China Securities Regulatory Commission's guidance on investor protection and aims to foster a healthy interaction between listed companies and investors [1][4] Group 2 - JXFH has focused on ICT technology and application innovation for 30 years, integrating new ICT technologies like AI, 5G, and cloud computing into various industry scenarios [2][3] - The company has developed a comprehensive product system in smart transportation and has been actively involved in national defense and customs information construction [2][3] - Since its listing in 2011, JXFH has achieved a 400% increase in revenue, from 300 million to 1.2 billion, and has maintained profitability for 14 consecutive years [3] Group 3 - JXFH has committed over 14% of its revenue to R&D from 2021 to 2024, demonstrating a strong focus on technological empowerment and future leadership [3] - The company has consistently returned value to investors through cash dividends totaling 340 million and share buybacks amounting to 180 million [3] - The event provided a platform for JXFH's management to share strategic practices and industry insights, highlighting the company's market position and technical capabilities [5]

2024年起，交易所对紫天科技的高管层频繁变动、2023年财 报、算力业务等接连发出质疑，而紫天科技的态度日渐"无 为"。 作者：牛钰 封图：图虫创意 A股惊现"铁头娃"！涉嫌财务造假、忽视交易所的问询、高管团队集体"失联"躲避检查、未聘请年 审会计师导致年报"失约"——这些"离谱"情况发生在已经停牌两个月有余的福建紫天传媒科技股份 有限公司（300280.SZ，下称"紫天科技"）身上。 紫天科技于2025年5月20日被实施"退市风险警示"，股票简称由"紫天科技"变更为"*ST紫天"。 3月17日至今，紫天科技先因"财务造假"被责令停牌整改，又于5月6日因未如期披露年度报告继续 停牌。 投资者在互动平台上质问紫天科技："公司的经营是否正常""为何用如此态度处理公司与监管部门 的重大危机"……但投资者可能无法收到问题的答案。自2024年4月起，紫天科技就再也没有在互 动平台上回复过投资者的提问。 不仅如此，紫天科技的官方网站已显示"无法访问"，证券事务代表的联系方式也已"暂停服务"，办 公场所"人去楼空"。 如此"摆烂"的紫天科技，不久前还是A股的热门股。2024年下半年，因涉及快手平台、小红书平 台、抖音豆包 ...

Core Viewpoint - Fujian Zitian Media Technology Co., Ltd. (Zitian Technology) is facing severe financial and operational issues, including allegations of financial fraud, lack of communication with regulatory bodies, and a complete absence of its executive team, leading to a risk of delisting from the stock market [2][5][8]. Financial Issues - Zitian Technology reported a significant loss of 1.21 billion yuan in its 2023 annual report, contrasting sharply with a profit of 206 million yuan reported in the first three quarters of the same year [6][11]. - The company has been under scrutiny for its financial practices, including the premature recognition of revenue, which inflated its reported income [11]. Regulatory Challenges - The company has been subject to multiple inquiries and warnings from the Shenzhen Stock Exchange and the Fujian Securities Regulatory Bureau due to discrepancies in its financial reporting and lack of timely responses to regulatory questions [7][8]. - Zitian Technology has failed to appoint an auditing firm or submit a rectification report to the Fujian Securities Regulatory Bureau, which could lead to its stock being delisted if not addressed within the stipulated timeframe [5][9]. Operational Status - The company's official website is currently inaccessible, and its office appears to be abandoned, indicating a severe operational breakdown [4][8]. - The executive team has been largely unresponsive, with reports of them avoiding communication with both investors and regulatory authorities [7][9]. Market Performance - Zitian Technology's stock price plummeted approximately 62.60%, from 22.27 yuan per share to 8.33 yuan per share, between January 2 and March 17, 2025 [13]. - The company was once a popular stock in the A-share market, benefiting from trends in internet marketing and gaming, but has since faced a dramatic decline in investor confidence [4][10]. Shareholder Impact - As of the third quarter of 2024, Zitian Technology had approximately 33,000 shareholders, many of whom are now expressing frustration over their inability to exit their investments due to the company's ongoing suspension from trading [14][15].

Investment Rating - The report maintains a "Buy" rating for Anhui Heli, with a target price of 17.21 CNY [5][2] Core Views - The company faces high costs that are squeezing some profits, but its internationalization and industrial chain layout continue to inject development momentum [1] - Revenue for 2024 is projected to be 17.33 billion CNY, a slight increase of 1% year-on-year, while net profit is expected to be 1.32 billion CNY, reflecting a minimal growth of 0.2% [10] - The company is expanding its overseas strategy, with significant growth in exports and overseas revenue, which accounted for 40% of total revenue in 2024 [10] - The company is enhancing its industrial chain layout by investing in smart logistics and reducing related transactions through acquisitions [10] Financial Summary - Revenue and profit figures for 2023 and projections for 2024-2027 are as follows: - 2023 Revenue: 17.156 billion CNY, 2024 Revenue: 17.325 billion CNY (1% growth) - 2024 Net Profit: 1.32 billion CNY, 2025 Net Profit: 1.442 billion CNY (9.3% growth) [4][10] - The gross margin for 2024 is expected to be 23.46%, an increase of 2.84 percentage points year-on-year [10] - The company’s net profit margin for 2024 is projected at 7.6% [4][10] - The company’s earnings per share (EPS) for 2024 is estimated at 1.48 CNY, with a gradual increase to 2.02 CNY by 2027 [4][10]

Financial Performance - In Q1 2025, the company's revenue reached 177.05 million CNY, representing a year-on-year growth of 24.77% [2][3] - Revenue from data center and cloud services accounted for 20.74% of total revenue [3] Investment and R&D - The company invested 27.32 million CNY in R&D in 2024, which is 3.47% of its total revenue [3][4] - The company plans to continue increasing investments in computing power, cloud computing, and cloud services to enhance market share and coverage [2][3] Shareholder Concerns - The company is currently not in a position to distribute dividends due to ongoing investments in core competencies and market expansion [3][4] - Shareholder reductions are attributed to individual financial needs and are not directly related to the company's strategic or operational performance [4] Business Strategy - The company is exploring reasonable acquisitions to strengthen its market position and will disclose any significant plans that meet disclosure standards [4] - The company maintains a stable operational status and a clear strategic layout, focusing on enhancing core competitiveness and profitability [4]

邦彦云PC渠道交流会(南京站)现场 近日，邦彦技术在北京、广州、南京、四川雅安四地成功举办"邦彦云PC产品渠道交流会"。此次活动 汇聚了全国各区域合作伙伴与信息技术领域专业人士，围绕邦彦云PC的产品创新、行业解决方案及渠 道政策展开深度交流，共同探讨云PC产品的未来发展趋势与市场机遇。 2025年，商用PC市场正经历数字化、智慧化办公的深刻变革。随着企业对降本增效、数据安全及灵活 办公的需求日益增长，传统PC模式已难以满足多样化场景需求。邦彦技术凭借深厚的技术积累与云计 算领域的研发优势，基于邦彦云PC产品推出一系列场景解决方案，覆盖政务、教育、金融、医疗及制 造型企业等行业，致力于为行业用户提供高安全、高可靠、高灵活的办公体验。 活动伊始，邦彦技术各区域负责人向与会嘉宾分析了当前市场趋势，强调数字化转型背景下，安全与灵 活性已成为企业选择办公解决方案的核心考量。邦彦云PC通过产品技术创新，以及全面打通国产化生 态，为企业、政府、事业单位"终端云化的最后一公里"提供强力支撑，助力行业实现高效、安全的办公 新模式。 邦彦云PC渠道交流会(广州站)现场 在产品体验区，嘉宾近距离感受了邦彦云PC的卓越性能，包括数据 ...