"这一方面需要专门的团队和一套系统为企业提供支撑。"刘锋表示，但建设系统投入规模巨大，投入后 产生的效果能否体现在财务收益上，又是另一重问题。 另外，在搭建好相关系统后，企业可开展压力测试，模拟不同场景（如不同气候变化、社会冲突情况） 对企业的影响及反应，从价值链角度将相关数据转化为成本、收益、风险因素，唯有如此，才能形 成"可量化、可定价、可管理"的决策依据。 面对ESG在市场端价值可视化的"终极拷问"——如何将ESG表现转化为财务语言？刘锋给出了耐心资本 与长期主义的答案。 他指出，市场对坏消息的反应往往更为敏感，对好消息的正向溢价反应则偏慢。因此，ESG相关的负面 事件一旦发生，企业股价会立刻受到冲击。而真正具备长期韧性的价值，能够经受时间考验，实现可持 续发展。对于ESG领域长期价值的信心，恰恰考验着投资人的耐心与毅力。 中央财经大学绿色金融学院首席经济学家刘锋发表"数据驱动力：ESG风险量化与科学转型"的主旨演 讲。 他表示，ESG不是道德滤镜，而是风险管理的进化；转型不是成本负担，而是价值创造的重构。唯有 将"可持续性"转化为"可计算性"，才能让每一分绿色投入闪耀出经济价值的光芒。 ESG落地面临 ...

Group 1 - The data summit held in Hong Kong on July 28 focused on optimizing trade financing processes and facilitating lending for SMEs through data infrastructure [1] - The Hong Kong Monetary Authority (HKMA) shared developments on the "Commercial Data Interchange," emphasizing four key areas: CargoX trade financing project, government data openness, SME credit data analysis, and cross-border data verification [1] - HKMA President Eddie Yue highlighted the authority's commitment to enhancing Hong Kong's data infrastructure to accelerate operational processes for financial institutions and SMEs [1] Group 2 - The Secretary for Transport and Logistics of Hong Kong mentioned efforts to build a port community system that connects all stakeholders in the cargo transport process, ensuring transparency in cargo status [1] - The Hong Kong International Airport is recognized as the world's largest cargo airport, and the Airport Authority is leveraging technology to enhance competitiveness through digitalization of the air cargo supply chain [2] - The Hong Kong Banking Association encourages member banks to participate in the "Commercial Data Interchange" projects to expedite loan approval processes and improve lending risk management for SMEs [2]

Group 1 - The Hong Kong Monetary Authority (HKMA) and the Hong Kong Association of Banks held the "Data Summit 2025" to discuss optimizing trade financing processes and facilitating SME lending through data infrastructure [1] - HKMA's CEO emphasized the importance of enhancing Hong Kong's data infrastructure to benefit financial institutions, data providers, and SMEs, aiming to speed up and improve operational processes [1] - The HKMA plans to continue simplifying trade financing processes through the "Commercial Data Connect" initiative, which aims to stimulate innovation and support the development of the real economy [1] Group 2 - The Hong Kong International Airport is recognized as the world's largest cargo airport for the 14th time since 2010, highlighting its competitive edge [2] - The Chairman of the Airport Authority stated that leveraging technology and digitizing the air cargo supply chain is crucial for enhancing efficiency and providing value-added services [2] - The cargo data platform of the Airport Authority collaborates with HKMA's "Commercial Data Connect" to assist SMEs in simplifying financing processes and improving credit risk management capabilities [2]

Core Insights - The Hong Kong Monetary Authority (HKMA) is committed to enhancing Hong Kong's data infrastructure and ecosystem to facilitate trade financing and support small and medium-sized enterprises (SMEs) [1][2][3] Group 1: Data Infrastructure and Trade Financing - The "Commercial Data Hub" aims to simplify trade financing processes and enhance innovation for SMEs, thereby driving economic growth [1][2] - The Cargox project is being developed to improve the digital ecosystem for trade financing, with pilot banks testing the verification of trade authenticity using logistics data [2][3] - The HKMA is collaborating with the Hong Kong government to connect the "Commercial Data Hub" with the upcoming "Single Trade Window" service, allowing users to share customs data with banks to expedite loan approvals [2][3] Group 2: Credit Data Analysis and Cross-Border Verification - The HKMA is working on a proof-of-concept for "Commercial Credit Database 2.0" to create a credit scoring model for SMEs, which is expected to simplify loan applications and reduce borrowing costs [2][3] - The "Commercial Data Hub" has successfully integrated with the Shenzhen-Hong Kong cross-border data verification platform, enabling banks to process personal and corporate loans more efficiently [3] Group 3: Industry Support and Future Directions - The Hong Kong International Airport is leveraging advanced technologies like blockchain to enhance cargo supply chain efficiency and support SMEs in financing processes [4] - The Hong Kong Banking Association is encouraging member banks to participate in projects related to the "Commercial Data Hub" to accelerate loan approvals and improve risk management for SMEs [5]

Core Insights - The industry is shifting focus from "model arms race" to "data infrastructure development" as the technical dividend of large models narrows [1] - A significant portion of enterprise unstructured data remains untapped, with IDC research indicating that 80% of such data is still dormant [1] - StarRing Technology's AI-Ready Data Platform aims to address the challenges of data governance, integration, and management in the context of AI [4] Group 1: Industry Challenges - The reliance on similar pre-trained models highlights the importance of unique enterprise data as a key differentiator in AI adoption and innovation [2] - Traditional data platforms face significant shortcomings in data governance and management, creating a core contradiction with the demands of large models for high-quality, multi-modal data [2] - The fragmentation of data storage across various models leads to inefficiencies in data management and integration, complicating AI implementation [2][3] Group 2: StarRing Technology's Solutions - StarRing Technology's AI-Ready Data Platform is designed to overcome industry pain points through a three-dimensional innovation approach: architectural revolution, governance leap, and toolchain evolution [4] - The platform features a "multi-model unified architecture" that enables unified storage management for 11 types of data models, breaking down data silos [5] - An intelligent governance matrix has been established to efficiently convert unstructured data into semi-structured formats, supporting multi-model capabilities for large models [7] Group 3: Real-time Capabilities and Toolchain - The platform incorporates real-time lake-house technology, enabling end-to-end second-level analysis to enhance decision-making efficiency [9] - StarRing's LLMOps platform integrates model development, knowledge management, and application orchestration, addressing issues of data scarcity and computational power [9] - The combination of real-time capabilities and a unified management approach allows for scalable AI deployment across various business functions [9] Group 4: Value Validation in Industries - In the financial sector, the platform enhances data real-time accuracy and efficiency, significantly improving risk management and decision-making processes [10] - The integration of data from various management and operational systems creates a centralized data hub, facilitating cross-domain collaboration in manufacturing [11] - The transformation of data from a cost item to a production factor enables enterprises to leverage AI for reconstructing business logic, highlighting the competitive edge of infrastructure capabilities [12]

4[Table_MainInfo] 公司研究/汽车与零配件/汽车 证券研究报告 [Table_QuoteInfo] 沪深 300 对比 1M 2M 3M 绝对涨幅（%） 48.0 64.3 68.4 零跑汽车（9863）公司公告点评 2025 年 03 月 14 日 [Table_InvestInfo] 股票数据 | 0[3Ta月b1le3_日S收to盘ck价I（nf港o]币） | 50.10 | | --- | --- | | 52 周股价波动（港币） | 18.64-50.40 | | 总股本/流通股本（百万股） | 1337/1116 | | 总市值/流通市值（百万港币） | 55932/66982 | 相关研究 [《Ta提b前le一_R年e净p利or转tI正nf，o]Q4 毛利率预计 13%》 2025.01.14 《24Q3 销量创历史新高，毛利率环比大幅 改善》2024.11.15 《经营稳健向好，智驾投入加大，全方位与 Stellantis 开展合作》2024.08.16 市场表现 资料来源：海通证券研究所 分析师:刘一鸣 Tel:(021)23154145 Email:lym15114@hai ...