内容概要：近年来，随着国民收入水平不断提高，消费者对珠宝首饰的需求逐渐增加，不仅注重产品的 实用性，更追求品牌、设计和个性化，电子商务平台为消费者提供了丰富多样的珠宝选择，满足了不同 层次消费者的需求，此外，随着互联网的普及和电子商务的发展，消费者越来越习惯在线上购物，尤其 是年轻一代消费者，他们更倾向于通过网络购买珠宝首饰，享受便捷的购物体验，在此背景下，我国珠 宝电子商务市场迅速崛起，据中国珠宝玉石首饰行业协会数据显示，2023年我国珠宝电子商务零售额达 3397.5亿元，同比增长26.21%，2024年，在我国商品零售市场增速放缓的不利背景下，金银珠宝作为非 必需品，与整体市场走势同频共振，其降幅居所统计的全部商品类别的首位，据中国珠宝玉石首饰行业 协会数据显示，2024年中国珠宝电子商务零售额降至2982.6亿元。 上市企业：曼卡龙（300945）、迪阿股份（301177）、老凤祥（600612）、中国黄金（600916）、航民 股份（600987）、菜百股份（605599）、豫园股份（600655）、萃华珠宝（002731）、周生生 （00116.HK）、潮宏基（002345）、明牌珠宝（00257 ...

我国装备制造业近年来不断加大研发投入，技术含量持续提高，与国外同行之间的技术差距快速缩小， 不仅实现了较多进口设备的国产替代，更在部分领域达到世界先进水平。在机床领域，济南二机床已成 为世界三大数控冲压装备制造商之一，其生产的大型数控冲压机床进入国内外主流汽车厂商的生产车 间。在工程机械领域，国产盾构机快速崛起，打破了盾构机市场长期被德国、日本等国企业垄断的局 面。以中铁装备为代表的国内厂商生产的盾构机不仅全产业链自主可控，能够适应极端环境和复杂环 境，控制精度达到毫米级，更是具备显著的价格优势，推动我国盾构机位列国际盾构技术的第一梯队。 随着行业规模扩大和技术不断积累，我国装备制造业企业的国际影响力和市场地位也快速提升。以新能 源装备为例，我国光伏面板、风机、车载锂电池等已成为国产装备"出海"的主力军。在光伏组件方面， 2024年全球前五大厂商均为中国企业。在风机行业，2024年全球风电整机制造商新增容量排名前五的厂 商中有四家为中国企业，金风科技更是蝉联第一。在车载锂电池行业，中国企业宁德时代和比亚迪位居 全球前两名，对行业供应链的掌控优势不断巩固。 也应看到，目前我国装备制造业仍存在一些问题。部分关键领 ...

Group 1 - The consumer finance industry is entering a new stage of high-quality development driven by continuous technological investment and digital transformation [1][3] - Xiaomi Consumer Finance has been recognized for its "Data Feature Unified Management Platform" in the "2023-2024 Annual Digital Transformation Achievement Case Competition" held by the Chongqing Banking Association [1] Group 2 - Xiaomi Consumer Finance aims to empower business development through technology and enhance digital operations with data, utilizing big data and artificial intelligence to improve financial service efficiency and convenience [3][4] - The company focuses on precise user profiling and segmentation to meet differentiated consumer needs across various scenarios such as travel, home decoration, and education, offering inclusive financial products like cash installment, consumption installment, and revolving credit [3] Group 3 - Risk control is a core aspect for financial institutions, and Xiaomi Consumer Finance leverages emerging technologies like big data and artificial intelligence to optimize risk control models across all stages of lending [4] - The company has established an advanced big data anti-fraud risk control system, integrating multiple protective measures such as manual identification, intelligent mapping, real-time fraud detection, and group fraud prevention [4] - Moving forward, Xiaomi Consumer Finance will continue to focus on technology and data-driven approaches to enhance consumer financial service experiences and promote the digital transformation and upgrade of the consumer finance industry [4]

日前，为深入实施国家大数据战略，充分发挥大数据应用技术引领作用，推进能源业务 和数字技术融合创新，国网山东电科院创新研发了国家电网公司首套自动化建模工具 ——"基于AutoML的电力大数据自动化建模工具"，实现技术驱动大数据业务应用，助力数 据要素价值作用充分发挥，赋能电网和公司高质量发展。 长期以来，传统电力数据分析依赖人工建模，存在诸多痛点，如周期冗长、专业门槛高 以及模型泛化能力不足等。面对这些挑战，该院凭借自主研发的AutoML（自动化机器学 习）技术，精心构建了覆盖数据清洗、特征工程、算法选择、超参数优化的全方位一站式建 模工具。自2024年6月建成以来，该工具在实际应用中表现出色。在2024年迎峰度夏期间， 其搭建的模型精准预测了峰值负荷发生日期，相较于传统人工建模方式效率提升3倍以上， 预测精度提升5个百分点。 下一步，国网山东电科院将持续优化模型，拓展外部特征指标维度，并探索更多的特征 变换、特征组合和特征选择方法。同时，将积极拓展自动化建模工具在电网规划、节能减排 等业务方面的应用，为构建清洁低碳、安全高效的现代智慧电网贡献力量。 【责任编辑：刘澄谚 】 该工具深度融合人工智能、大数据、云计 ...

Core Viewpoint - The fresh cold chain logistics management platform leverages advanced technologies such as IoT, big data, cloud computing, and blockchain to create a comprehensive digital management system for fresh products, ensuring quality control, efficiency improvement, and cost reduction throughout the transportation process [1] Group 1: Management Model - Transition from "experience-driven" to "data-driven" management, utilizing algorithms to optimize transportation plans and reduce vehicle empty running rates by over 30% and transportation costs by 20% [3] Group 2: Temperature Control Capability - Shift from "post-remedy" to "real-time intervention" in temperature monitoring, reducing fresh product loss rates from 25%-30% to below 8% through IoT temperature sensors that provide immediate alerts and guidance [4] Group 3: Collaborative Efficiency - Move from "information silos" to "full chain connectivity," enabling real-time tracking of goods and sharing of data across stakeholders, with over 90% of self-operated orders covered by visualization systems [5] Group 4: Quality Control - Implementation of blockchain traceability technology to ensure the freshness of products, enhancing recall efficiency by 70% when quality issues arise [7] Group 5: Resource Optimization - Addressing the "ice and fire" dilemma in cold chain logistics by integrating idle resources, reducing response time for seasonal demand from 48 hours to 6 hours, and increasing vehicle loading rates to 92% [8] Group 6: Decision Support - Providing data-driven insights for inventory turnover optimization and logistics cost allocation, resulting in a 15% reduction in delivery costs for certain products and maintaining a low out-of-stock rate [9] Group 7: Key Platforms - **Yue Shi Cold Chain Cloud**: A digital platform focusing on cold chain supply chain management, offering solutions from production to sales, with features like intelligent temperature matching and emergency response [10] - **JD Cold Chain**: Leveraging extensive logistics infrastructure to provide real-time visibility and rapid delivery, with advanced temperature control solutions [11] - **SF Cold Chain**: Utilizing a nationwide network to ensure comprehensive temperature control and energy management, reducing carbon emissions by 15% [11] Group 8: Future Trends - The evolution of cold chain logistics management platforms into supply chain ecosystem hubs, driven by technology integration, green transformation, and expansion into lower-tier markets [12][13][14] Group 9: Industry Impact - The fresh cold chain logistics management platform is not only a technological innovation but also a reconstruction of the entire fresh supply chain, enhancing food safety and supporting rural revitalization [16]

Investment Rating - The report assigns an "Accumulate" rating to the company with a target price of 21.59 CNY per share, based on a current price of 17.34 CNY [1]. Core Views - The company is positioned as a leader in the domestic digital technology sector, with a forward-looking layout in the legal financial technology segment. The rebound in core business, efficiency improvements from AI mediation, and the rapid expansion of diversified dispute resolution services are expected to drive future performance beyond expectations [2]. Financial Summary - Revenue projections for 2025-2027 are 9.41 billion CNY, 11.53 billion CNY, and 13.77 billion CNY, respectively, with corresponding net profits of 0.26 billion CNY, 0.99 billion CNY, and 1.69 billion CNY [3][20]. - The company anticipates a revenue growth rate of 34.6% in 2025, followed by 22.5% in 2026 and 19.4% in 2027 [3]. - The net profit margin is expected to improve significantly, with a projected return on equity (ROE) of 14.1% by 2027 [3]. Business Segments - The company has three main business segments: Smart Scene Solutions, Smart Building Solutions, and Big Data & Cloud Platform Services. The Smart Scene Solutions segment is expected to contribute significantly to revenue, while the Big Data & Cloud Platform Services is projected to maintain a high growth rate [12][34]. - The diversified dispute resolution platform launched in 2022 has seen rapid growth, with revenue from mediation services expected to exceed 45 million CNY in 2024, reflecting a year-on-year increase of over 220% [12][34]. Strategic Initiatives - The company is actively involved in the construction of digital courts in collaboration with various judicial bodies, leveraging AI technologies to enhance judicial processes [12][34]. - A strategic partnership with Alibaba Cloud has been established to create an AI innovation base for the judicial industry, focusing on developing AI-driven solutions [12][34]. Valuation Analysis - The report employs both PE and PS valuation methods, concluding a reasonable valuation of 79.20 billion CNY, corresponding to a target price of 21.59 CNY per share [18][22][23]. - The company is expected to achieve a PE ratio of 80 times by 2026, reflecting its growth potential and market position [20][22]. Market Position - The company has a diversified shareholder structure, with significant ownership by the management team and strategic investors, which enhances its governance and operational stability [44][48]. - The company has been in operation for over 30 years, focusing on integrating technology solutions across various sectors, including government, education, and finance [25][30]. Recent Performance - The company faced challenges in 2024, with a revenue decline of 24.98% due to macroeconomic factors, but showed signs of recovery in Q1 2025 with a revenue increase of 63.93% [32][34]. - The gross profit margin for 2024 was reported at 26.73%, indicating a decline but still competitive within the industry [36]. Future Outlook - The company is expected to continue expanding its service offerings and market reach, particularly in the legal financial technology sector, which is anticipated to drive future revenue growth [12][34]. - The strategic focus on AI and digital transformation is expected to enhance operational efficiency and profitability in the coming years [12][34].

Core Viewpoint - The electronic information manufacturing industry is undergoing a transformation driven by disruptive technological breakthroughs and collaborative innovation, reshaping production and lifestyle in society [1] Market Demand - Consumption Upgrade, Industrial Transformation - The demand in the electronic information manufacturing industry is increasingly diverse and complex, with consumption upgrades and industrial transformations as key guiding directions [2] - The consumer electronics sector, particularly smartphones and wearable devices, is experiencing continuous growth and upgrades, with enhanced performance requirements leading to significant advancements in processing technology and camera capabilities [2] - Industry applications, especially in automotive electronics and industrial internet, show strong demand for electronic information manufacturing products, with advanced driver-assistance systems (ADAS) and industrial robots requiring high-performance chips and sensors [3] - Emerging technology fields, such as quantum computing and space exploration, are creating new demands for specialized electronic components that can operate under extreme conditions [3] Technological Innovation - Breaking Bottlenecks, Fusion Development - Hardware technology breakthroughs are evident in chip manufacturing processes, transitioning from micron to nanometer processes, significantly enhancing chip integration and performance [4] - Software innovation is marked by the application of artificial intelligence algorithms in various fields, improving functionalities in smartphones and industrial internet applications [5] - The trend of hardware and software collaboration is emerging, particularly in the Internet of Things (IoT) and smart automotive sectors, optimizing resource allocation and data processing efficiency [6] Industry Competition - Technological Leadership, Strategic Layout - Intense competition exists between industry giants and emerging companies in the electronic information manufacturing sector, with established players like Intel and Apple maintaining significant market positions through innovation and brand influence [7] - National policies are shaping the development of the electronic information industry, with regions like Shenzhen and the Yangtze River Delta in China playing crucial roles in the global supply chain [8] - Intellectual property and standard-setting have become focal points of competition, with companies like Huawei and ZTE actively participating in the formulation of 5G standards to enhance their market influence [9]

在国家大力推动金融科技服务实体经济的政策指引下，厦门国际银行以数字化转型为引擎，推出线上供应链金融综合 服务平台，深度融合大数据、区块链、人工智能等前沿技术，打造覆盖供应链全场景的智慧金融服务体系，助力产业 链上下游企业实现降本增效与生态共赢。 "1+N"链式辐射，延伸核心企业信用价值。平台以核心企业为枢纽，通过1家核心企业带动N家上下游小微企业的协同 模式，构建链上企业融资服务生态。小微企业可在线提交融资申请，依托核心企业信用传导，快速获得资金支持，缓 解短期流动性压力，助力产业链资金高效周转。 数据链赋能，构建智能风控体系。平台联合核心企业及场景平台共建数字生态，运用大数据风控与人工智能技术，打 造核心企业信用履约评分体系，实现交易流、数据流、资金流的实时闭环管理。其中，全线上化的"国行链e融"业务， 能够实现供应商T+0的快速融资。 区块链技术，激发产业链资产活力。依托区块链技术平台，将小微企业的应收、应付账款转化为可融资的电子债权凭 证，推动核心企业信用向多级供应商穿透。此举有效盘活链上企业流动资产，降低融资成本，加速资金周转效率。 厦门国际银行线上供应链金融综合服务平台通过技术赋能与模式创新，不仅破 ...

上海经信委组织2025年促进产业高质量发展（工业服务业发展）项目申报 支持范围包括AI等 智通财经6月3日电，上海市经济和信息化委员会组织2025年上海市促进产业高质量发展（工业服务业发 展）项目申报，支持范围包括：提升工业供应链整体解决能力。支持企业建设服务产品矩阵，打造覆盖 研发设计、采购（销售）管理、生产排期、履约交付、售后维保服务于一体的全生命周期解决方案。聚 焦人工智能、大数据、区块链等新技术，支持企业加大软、硬件投入，开展AI本地计算集群部署、云 服务器租赁、设备购置，构建产业级多模态数据，打造涵盖智能交易、智能选品、智能采购、智能辅助 模具设计等功能行业大模型，提供全链路智能应用、辅助决策和全流程风险控制能力。加强数智化技术 运用。支持企业开展物流核心算法研发，探索AI大模型等在仓储管理、线路规划、智能配载等场景的 应用。 ...

对企业而言，如果愿意配合调整用电错峰生产，就能获得实实在在的经济补贴。"有的企业一天获得的 错峰补贴就能超过万元。"彭伊伊说。 5月29日讯 面对武汉市近三年用电负荷年均增长超12%的压力，一种看不见摸不着、却能像真实电厂一 样调节电力的"虚拟电厂"正在武汉发挥关键作用。它不烧煤、不占地，却能有效缓解夏季酷暑和冬季严 寒时的用电紧张，让城市电网更"抗压"。5月29日上午，长江日报记者实地探访这座"虚拟电厂"。 武汉市虚拟电厂管理中心负责人表示，"虚拟电厂"成功引导电力用户从"消费者"变成电网稳定运行 的"贡献者"。这不仅是对海量分散资源的精细化管理，更是提升城市电网"韧性"的一大创新。 目前，武汉"虚拟电厂"已接入大量这类可灵活调节的资源。在虚拟电厂平台演示区，工作人员在电脑前 轻点鼠标，全市接入点状态一目了然。记者看到，这些资源汇聚起来，最大调节能力已超过55.7万千 瓦，这相当于在用电最紧张的时刻，能瞬间调动起一个中小型传统发电厂的调节能力。比如蔚来能源已 将其在武汉的约30个充换电站接入，就能提供高达1.8万千瓦的灵活调节能力。 "用电高峰时，我们就可以利用'虚拟电厂'削峰填谷保用电。"国网武汉供电公司 ...