Core Viewpoint - Zhongda An's stock price has shown a significant increase of 51.48% year-to-date, indicating strong market performance despite a recent decline in revenue and net profit [1][2]. Financial Performance - As of September 30, Zhongda An reported a revenue of 469 million yuan, a year-on-year decrease of 5.03% [2]. - The net profit attributable to shareholders was 980,200 yuan, reflecting a substantial decline of 56.30% compared to the previous year [2]. Stock Market Activity - On November 4, Zhongda An's stock rose by 2.06%, reaching 14.83 yuan per share, with a trading volume of 34.34 million yuan and a turnover rate of 1.95% [1]. - The total market capitalization of Zhongda An is 2.078 billion yuan [1]. - The stock has experienced a net outflow of 692,500 yuan from main funds, with large orders accounting for 8.92% of purchases and 10.93% of sales [1]. Shareholder Information - The number of shareholders as of September 30 is 8,906, a decrease of 41.07% from the previous period [2]. - The average circulating shares per person increased by 69.71% to 13,520 shares [2]. Business Overview - Zhongda An, established on August 8, 2000, and listed on March 31, 2017, primarily engages in project management services, focusing on engineering supervision [1]. - The revenue composition includes: power supervision (20.73%), civil engineering supervision (19.72%), consulting and agency (18.20%), communication supervision (16.97%), water conservancy supervision (16.03%), bidding agency (4.68%), power exploration (3.15%), and photovoltaic power generation (0.51%) [1]. Dividend Information - Since its A-share listing, Zhongda An has distributed a total of 30.38 million yuan in dividends, with 1.36 million yuan distributed over the past three years [3].

Core Viewpoint - Zhongfutong's stock price has shown fluctuations, with a recent increase of 2.08% on November 4, 2023, despite an overall decline of 8.14% year-to-date [1][2]. Group 1: Stock Performance - As of November 4, 2023, Zhongfutong's stock price is reported at 14.22 CNY per share, with a market capitalization of 3.267 billion CNY [1]. - The stock has experienced a 1.79% increase over the last five trading days and a 5.41% increase over the last 20 days, while it has decreased by 1.11% over the last 60 days [2]. Group 2: Financial Performance - For the period from January to September 2023, Zhongfutong achieved a revenue of 914 million CNY, representing a year-on-year decrease of 18.03%. However, the net profit attributable to shareholders increased by 22.20% to 16.1012 million CNY [2]. - The company has distributed a total of 98.1802 million CNY in dividends since its A-share listing, with 12.7827 million CNY distributed over the last three years [3]. Group 3: Business Overview - Zhongfutong, established in November 2001 and listed in November 2016, operates in various sectors including communication services, software services, digital marketing, and channel sales. The main revenue sources are communication network construction and maintenance (75.82%), software development (8.04%), and technical services (4.72%) [2]. - The company is categorized under the communication services industry, with involvement in sectors such as smart governance, autonomous driving, electronic ID, data elements, and domestic software [2].

【导读】中国人民银行副行长陆磊：运用金融科技赋能经济发展 10月23日，中国人民银行副行长陆磊在"香港金融科技周2025"发表演讲时表示，中国人民银行高度重视金融科技工作，要运用金融科技赋能经济发展，同 时要以高效便捷的跨境支付服务，为经济保驾护航，以及运用数字人民币探索跨境支付新方案。 运用金融科技赋能经济发展 陆磊表示，科学技术是第一生产力，金融科技作为科技驱动的金融创新，已成为数字经济背景下，金融发展方式和治理体系变革的重要驱动力。中国人民 银行高度重视金融科技工作，充分发挥人工智能和数据要素的双轮驱动作用，稳妥推动金融数智化转型迈上新台阶，为做好金融"五篇大文章"提供有力支 撑。 一是深化新一代人工智能技术金融应用。陆磊表示，当前，以大模型为代表的新一代人工智能技术，在内容生产、泛化迁移、逻辑推理、交互对话等能力 方面，实现了跨越式提升，正在开启智能化发展新时代。中国人民银行高度重视新一代人工智能技术等金融应用工作，研究制定"人工智能+金融"的一系 列政策，引导内地金融机构在安全合规前提下，稳妥发挥大模型智慧大脑的作用，统筹任务规划调度，串联复杂金融业务，实现能力有效整合和业务高效 协同，探索拓展金融 ...

Core Viewpoint - The People's Bank of China emphasizes the importance of financial technology in empowering economic development and enhancing cross-border payment services, particularly through the exploration of digital currency solutions [2][4]. Financial Technology Empowering Economic Development - Financial technology, driven by scientific advancements, is a crucial force for transformation in financial development and governance systems under the digital economy context [5]. - The People's Bank of China is focusing on the application of next-generation artificial intelligence in finance, leveraging advancements in large models to enhance financial services and operational efficiency [6]. - The bank is activating the potential of data elements in the financial sector by conducting pilot projects for data utilization and implementing guidelines for cross-border data flow [6][7]. Efficient and Convenient Cross-Border Payment Services - The People's Bank of China is enhancing cross-border payment cooperation with Hong Kong, responding to the growing demand for real-time, convenient, and low-cost payment services [9]. - The Cross-border Interbank Payment System (CIPS) has expanded its operations in Hong Kong, facilitating safe and efficient cross-border settlement services for international trade and investment [9]. - The bank has successfully launched a cross-border payment system that allows for quick and seamless transactions between mainland China and Hong Kong, receiving positive public feedback [9][10]. Exploring New Solutions for Cross-Border Payments with Digital Currency - China is a pioneer in the research and application of central bank digital currencies (CBDCs), with established principles for infrastructure development [11]. - The People's Bank of China is collaborating with various monetary authorities to explore a multilateral CBDC bridge for cross-border payments, aiming for real-time transactions across different currencies [11]. - The digital RMB cross-border payment platform is being utilized to support bilateral cooperation, enhancing the digital experience for cross-border trade and investment [11][12]. Future Prospects and Cooperation - The People's Bank of China aims to strengthen practical cooperation in financial technology with Hong Kong, promoting innovative applications that benefit the public [12]. - The bank is committed to sharing China's financial technology experiences globally and learning from international best practices to contribute to global financial technology development [12].

作为青岛市"10＋1"创新型产业体系人工智能赛道承载区，市南区将数据要素纳入"1+6+1"主导+创新产 业体系，逐步形成"数据资源富集、产业基础扎实、应用场景多元"的独特优势，辖区有数据企业772 家，数据创新应用场景139个，在信用、医疗、交通、海洋等领域数据资源丰富。其中，格兰德归集全 球6亿+市场主体、100亿+条数据；美迪康智能消化内镜等系统拥有三甲医院用户超170家，汇聚指标数 据超700万例；松立集团"慧停车"平台管理泊位60多万个，路内停车管理规模全国第一；辖区海洋企业 汇聚125亿条海洋数据，总体量50PB以上，建成全国首个海洋数据交易服务平台等。 应用场景是数据要素产业的"指挥棒"，拥有应用场景，数据才有用武之地。在市南，公共数据应用场景 随处可见，其中，"金湖墩墩"是全市首个AI客服助理，依托法律图谱和讯飞语音技术，实现调解记录、 焦点提取一键搞定，已回应居民搜索8000多次，矛盾化解成功率达98.7%；"AI+职业指导"平台覆盖招 聘会、零工之家，出具300多份就业报告；全市首个"5G远程超声诊断分中心"AI辅助诊断效率提高40% 以上；数字导游实现"一屏通览"，中山路元宇宙历史街区为游 ...

Core Insights - The establishment of the Fushan Bay Data Element Industry Base marks a significant step for the Shinan District in promoting the data element industry and empowering high-quality development of the digital economy [1] Group 1: Industry Development - The Fushan Bay Data Element Industry Base covers an area of 99,700 square meters with a building area of 116,000 square meters, currently housing 98 enterprises and employing approximately 7,700 people, with an expected annual main revenue exceeding 25 billion [1] - The Shinan District has integrated data elements into its overall planning for the All-domain Unbounded Innovation Industrial Park, aiming to seize opportunities in the digital economy [1][2] Group 2: Data Resource Integration - A data element industry alliance has been established, led by Inspur Data Elements, to promote data circulation and value release, integrating various data resources across the industry chain [1] - The district has 772 data enterprises and 139 innovative application scenarios, with rich data resources in fields such as credit, healthcare, transportation, and marine [2] Group 3: Application Scenarios - Public data application scenarios are prevalent in Shinan, including the "Jinhu Dundan," an AI customer service assistant that has successfully resolved conflicts with a 98.7% success rate [3] - The district has provided data services over 2 million times in the first half of the year, enhancing regional digital and intelligent service capabilities [3] Group 4: Future Plans - The Shinan District is striving to become a national-level data industry cluster pilot, focusing on building trusted data spaces in healthcare and smart marine sectors [4] - Future initiatives include exploring AI integration in shipping, trade, and finance, as well as developing high-quality data sets and AI models in healthcare [4]

Core Insights - The company reported significant improvements in its financial performance for Q3 2025, with total revenue reaching 365 million yuan, a year-on-year increase of 17%, and a net profit of 30.99 million yuan, marking a return to profitability [1] - The launch of SuperMap GIS 2025 emphasizes the company's commitment to innovation in the fields of infrastructure, data, and services, enhancing its competitive edge in the GIS industry [2] - The integration of AI technologies in SuperMap GIS 2025 aims to improve operational efficiency and reduce costs, showcasing the company's strategic focus on automation and intelligent applications [3] - The company is positioned as a leading player in the global GIS market, with plans to expand into digital twin applications and capitalize on emerging opportunities in AI and data elements [4] Financial Performance - For the first nine months of 2025, the company achieved total revenue of 968 million yuan, a 2% increase year-on-year, and a net profit of 42.96 million yuan, reflecting a 63% growth [1] - The net cash flow from operating activities showed significant improvement compared to the same period last year [1] Product Development - SuperMap GIS 2025 includes enhancements in compatibility with various domestic operating systems and databases, aiming to mitigate supply chain risks [2] - The product features advanced automation capabilities, allowing for efficient data processing and analysis, which has been successfully implemented in several provincial and ministerial projects [3] Strategic Outlook - The company is focusing on building a second growth curve by exploring new markets such as digital twin applications in water conservancy, meteorology, and airports [4] - Projections for net profit from 2025 to 2027 are estimated at 132 million yuan, 218 million yuan, and 280 million yuan, respectively, indicating strong growth potential [4]

Investment Rating - The report maintains a "Recommended" rating for the company [5] Core Insights - The company has shown significant improvement in performance, with a total revenue of 968 million yuan for the first nine months of 2025, representing a 2% year-on-year increase, and a net profit attributable to shareholders of 42.96 million yuan, up 63% year-on-year [1] - In Q3 2025, the company achieved a total revenue of 365 million yuan, a 17% year-on-year increase, and a net profit of 30.99 million yuan, marking a return to profitability [1][2] - The company is leveraging synergies in the fields of trusted computing and AI, launching SuperMap GIS 2025, which enhances its infrastructure, data, and service capabilities [2] Financial Performance Summary - For 2025, the company is projected to achieve a net profit of 132 million yuan, with corresponding PE ratios of 65X, 39X, and 31X for the years 2025, 2026, and 2027 respectively [3][4] - The forecasted total revenue for 2025 is 1.726 billion yuan, with a growth rate of 15.3% [4][10] - The company expects to improve its net profit significantly over the next few years, with projections of 218 million yuan in 2026 and 280 million yuan in 2027 [3][4]

近日，2025年"数据要素×"大赛全国总决赛落下帷幕，终评结果正式公布。长沙表现亮眼，共有10 个项目脱颖而出，斩获一等奖2个、三等奖5个、单项奖3个，一等奖数量居全国省会城市首位，获奖数 量较去年显著提升，充分展现了长沙在数据要素创新应用领域的硬核实力与发展潜力。 长沙数字天蚂信息技术有限公司"数据锻造工厂垂域数据要素流通加工应用新范式"项目通过"知识赋 能、体系支撑、技术驱动、人机协同"的创新模式，为金融、医疗等多个行业提供高质量数据支撑。在 医疗领域，成功赋能超300家医疗机构，服务覆盖1000万+人次；在金融领域，服务的核心AI金融产品 月活用户数百万，助力用户资金规模增长超5%，同时与数十家模型厂商达成超千万级数据安全保护合 作等。这不仅验证了数据标注作为新基建的战略价值，更彰显了数据要素与实体经济深度融合的巨大潜 力。 2025年"数据要素×"大赛是由国家数据局联合中央网信办、工业和信息化部等20多个部委及机构共同发 起的全国性赛事，全国2万余支队伍参赛，在13个赛道中诞生183个获奖项目。长沙一举揽获10项大奖， 占比达5.5%。其中一等奖2项，占全国一等奖总数的13.3%，充分展现长沙在全国数 ...

Core Points - The event on November 1 aimed to enhance communication between the government and private enterprises in Dongguan, fostering confidence in business development and promoting high-quality growth in the city [1][3] Group 1: Government Initiatives - The Dongguan government is focused on improving the business environment and supporting private enterprises through various initiatives, including the "Artificial Intelligence +" and "Data Elements ×" actions [5] - The government plans to establish a national AI application pilot base and create a data industry cluster with national influence [5] Group 2: Private Enterprise Contributions - Private entrepreneurs expressed constructive opinions on topics such as the "14th Five-Year Plan," modern industrial system construction, AI empowerment, and public service enhancement [3] - Entrepreneurs have shown resilience and commitment to development, seizing opportunities in AI and contributing to market expansion, technological advancements, and business transformation [3][5] Group 3: Events and Exhibitions - Attendees visited exhibitions showcasing "Dongguan Manufacturing Aesthetics," "Dongguan Quality Products," and the spirit of private entrepreneurs, highlighting the craftsmanship and dedication in Dongguan's manufacturing sector [7]