云基础设施服务 深信服（300454.SZ） 增持-A(维持) 收入端稳健增长，Q2 单季度实现扭亏 2025 年 8 月 25 日 公司研究/公司快报 公司近一年市场表现 | 市场数据：2025 年 8 | 月 | 22 日 | | | | --- | --- | --- | --- | --- | | 收盘价（元）： | | | | 119.85 | | 年内最高/最低（元）： | | | | 142.00/42.70 | | 流通 A 股/总股本（亿 | | | 2.78/4.22 | | | 股）： | | | | | | 流通 A 股市值（亿）： | | | | 333.53 | | 总市值（亿）： | | | | 505.63 | | 年 基础数据：2025 | 月 6 | 日 30 | | | --- | --- | --- | --- | | 基本每股收益(元)： | | | -0.54 | | 摊薄每股收益(元)： | | | -0.54 | | 每股净资产(元)： | | | 21.41 | | 净资产收益率(%)： | | | -2.52 | 方闻千 执业登记编码：S0760524050 ...

据证券之星公开数据整理，近期深信服(300454)发布2025年中报。截至本报告期末，公司营业总收入 30.09亿元，同比上升11.16%，归母净利润-2.28亿元，同比上升61.54%。按单季度数据看，第二季度营 业总收入17.47亿元，同比上升4.5%，第二季度归母净利润2198.08万元，同比上升121.3%。本报告期深 信服盈利能力上升，毛利率同比增幅1.22%，净利率同比增幅65.41%。 | 基金筒称 | 基金代码 | 持有股数 | 持仓变动 | 数据来源 | | --- | --- | --- | --- | --- | | 万家行业优选LOF | 161903 | 800.01万股 | 增仓 | 2025基金半年报 | | 万家自主创新混合A | 008120 | 280.00万股 | 增仓 | 2025基金半年报 | | 嘉实竞争力优选混合A | 010437 | 237.65万股 | 咸仓 | 2025基金半年报 | | 万家经济新动能混合A | 005311 | 183.33万股 | 增仓 | 2025基金半年报 | | 建信优选成长混合A | 530003 | 101.09万股 | 新 ...

公 司 报 告 计算机 2025年08月22日 深信服(300454.SZ) 云计算持续驱动公司营收增长，二季度实现盈利 推荐 ( 维持) 股价:104.06元 行情走势图 相关研究报告 【平安证券】深信服（300454.SZ）*季报点评*云计 算带动公司收入快增，看好公司AI业务持续突破*推荐 20250425 【平安证券】深信服（300454.SZ）*年报点评*云计 算收入持续增长，公司推动产品和服务AI能力升级*推 荐20250330 证券分析师 事项： 公司发布2025年半年度报告，2025年上半年公司实现营业收入30.09亿元，同 比增长11.16%，实现归母净利润-2.28亿元，亏损同比收窄61.54%，实现扣非 净利润-2.59亿元，亏损同比收窄60.44%。 平安观点： 司 半 年 报 点 评 研 究 报 告 闫磊 投资咨询资格编号 S1060517070006 YANLEI511@pingan.com.cn 黄韦涵 投资咨询资格编号 S1060523070003 HUANGWEIHAN235@pingan.com.cn 王佳一 投资咨询资格编号 S1060525070001 WANGJIAY ...

Core Insights - The financial technology (FinTech) industry is experiencing significant growth, driven by technological innovation and policy support, with an expected compound annual growth rate (CAGR) of approximately 13.3%, reaching over 650 billion yuan by 2028 [1] Group 1: Industry Overview - The report emphasizes the construction of a technology-driven financial value enhancement system, focusing on a "technology-industry-finance" cycle [1] - The domestic FinTech market is thriving due to the rapid development of the technology sector and the flourishing financial market [1] Group 2: Evaluation Metrics - The evaluation model for FinTech service providers includes four core dimensions: industry depth, product and technology capability, service capability, and ecosystem capability [2] Group 3: Top Service Providers - The "iResearch - Excellence" list for 2025 includes the top 50 FinTech service providers, categorized into four types: comprehensive technology service providers, FinTech IT service providers, core technology application service providers, and digital innovation service providers [5] Group 4: Case Studies - Softstone Technology is leveraging GenAI to drive innovation in financial applications, focusing on AI-driven transformations in various financial processes [11] - Chexiao Technology specializes in credit risk control, providing a comprehensive suite of platforms for automotive finance and risk management [15][16] - China Mobile Financial Technology is developing a full-scenario enterprise consumption management platform, addressing corporate spending needs [22] Group 5: Trends and Future Directions - The integration of cloud-native and AI-native technologies is becoming mainstream in the financial sector, with a focus on enhancing business value and compliance [34][41] - The industry is moving towards a dual development phase of technology deepening and value release, emphasizing the importance of customized and scenario-based solutions [41]

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。 iResearch-卓越者 评估指标介绍 评测说明：评测模型主要包括服务厂商的行业深耕程度、产品与技术能力、服务能力及生态能 力四个核心维度，最终评测结果的产出来自于对以上四个核心维度的综合考量，为了更全面的 量化各服务厂商在核心维度下的具体表现，将核心维度进一步拆分至二级、三级评价指标，并 给予其不同的评测重要程度等级，具体指标如下图所示： iResearch- 卓越者 入围厂商（1/3） 中国金融科技行业卓越服务厂商TOP50榜单 iResearch ...

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。 iResearch-卓越者 评估指标介绍 评测说明：评测模型主要包括服务厂商的行业深耕程度、产品与技术能力、服务能力及生态能 力四个核心维度，最终评测结果的产出来自于对以上四个核心维度的综合考量，为了更全面的 量化各服务厂商在核心维度下的具体表现，将核心维度进一步拆分至二级、三级评价指标，并 给予其不同的评测重要程度等级，具体指标如下图所示： iResearch- 卓越者 入围厂商（1/3） 中国金融科技行业卓越服务厂商TOP50榜单 iResearch ...

Group 1 - The core viewpoint of the report is that the Chinese fintech industry is expected to grow significantly, with a market size projected to exceed 650 billion yuan by 2028, driven by technological innovation and policy support [1][13][11] - The report highlights the importance of digital transformation in financial institutions, emphasizing that strategic planning is becoming a core driver for this transformation [9][21] - The integration of advanced technologies such as artificial intelligence and big data is crucial, with a notable increase in cloud deployment acceptance among financial institutions [1][9][11] Group 2 - The report outlines the current state of the fintech industry, indicating that the market is transitioning from a focus on technology-driven solutions to a more business-driven approach [9][21] - It emphasizes the growing demand for comprehensive and systematic financial technology services, particularly in banking, insurance, and securities sectors [9][21] - The report identifies key trends in technology development, including the rapid growth of generative AI investments and the slow adoption of blockchain products [1][11][13] Group 3 - The report evaluates outstanding enterprises in the fintech sector, recognizing companies like Softcom Power and Chexiao Technology for their innovative services [1][11] - It discusses the need for technology service providers to enhance their product customization and scenario-based capabilities to meet the evolving demands of financial institutions [1][11] - Experts predict that the fintech industry will focus on the integration of large models, cloud-native and AI-native solutions, and compliance technology in the future [1][11][13]