相对于8月22日发布的定增预案，科大讯飞本次修改后的方案中，40亿元的定增募资总额不变，星火教育大模型及典型产品项目8亿元的募资金额也不变； 但用于补充流动资金的金额由32亿元下调为8亿元，另外新增募集资金24亿元用于算力平台项目，该项目募资金额约占本次融资规模的60%。 【导读】科大讯飞大幅调整定增方案 中国基金报记者 卢鸰 9月29日晚，科大讯飞发布《2025年度向特定对象发行A股股票预案（修订稿）》，拟变更募集资金用途。 基于国产算力进行训练和推理的效率与使用英伟达算力存在较大差距，科大讯飞通过与华为、中科海光、寒武纪等国产算力厂商建立长期紧密联合攻关协 作机制，深度使用国产算力集群，发现并解决了多个国产算力底层软硬件的隐藏问题。 此外，《关于深入实施"人工智能+"行动的意见》还提出，要推动人工智能普惠共享。把人工智能作为造福人类的国际公共产品，打造平权、互信、多 元、共赢的人工智能能力建设开放生态。 对此，科大讯飞表示，公司算力平台项目的实施，将持续增强星火大模型的多语言支持能力，在为世界提供第二种选择的同时，将形成公司业务收入的新 增长点。 讯飞多语种大模型下一步将锚定海外市场落地需求，针对不同区域 ...

Core Insights - Hello announced a strategic investment in its Robotaxi business from Alibaba Group, indicating a deepening collaboration in autonomous driving technology and commercialization efforts [1] - The partnership aims to accelerate the commercialization and scaling of the Robotaxi industry, building on previous collaborations [1] Company Developments - In June, Hello officially entered the Robotaxi sector, forming "Zhaofu Intelligent Technology Co., Ltd." with Ant Group and CATL, focusing on L4 autonomous driving technology development and commercialization, with an initial investment exceeding 3 billion yuan [1] - On September 11, Hello unveiled its Robotaxi strategic plan and introduced its first mass-produced Robotaxi model, "HR1" (Hello Robot1), with plans for mass production by 2026 and deployment of over 50,000 Robotaxi vehicles by 2027 [1]

Core Insights - Hello announced a strategic investment from Alibaba Group in its Robotaxi business, indicating a deepening collaboration in smart driving technology and commercializing the Robotaxi industry [1] Group 1: Investment and Collaboration - The investment signifies a further enhancement of the existing partnership between Hello and Alibaba, focusing on smart driving models, computing platforms, and Robotaxi services [1] - Both companies aim to accelerate the commercialization and scaling of the Robotaxi sector through this collaboration [1] Group 2: Technological Development - Future cooperation will be based on real-world operational scenarios and needs of Robotaxi, aiming to create low-cost, high-safety, reliable, and highly available smart driving technologies [1] - The partnership will involve the co-development of foundational models in vision, voice, and language, as well as specialized models for intelligent cabins [1] - Both companies will explore innovative applications of cutting-edge models in the field of autonomous driving [1]

深圳特区报消息，8月23日，深圳机场T2航站区、北货运区及综合配套工程正式开工。两个项目建成后 将推动深圳机场实现规模体量、保障能力、运行效率、发展空间多重跃升，有力支撑深圳区位门户复合 型国际航空枢纽建设，为深圳加快打造更具全球影响力的经济中心城市注入新动能。 项目设计年旅客吞吐量3100万人次，将建设40万平方米的T2航站楼主体功能区、53个站坪机位，同步 配套3万平方米的轨道换乘中心、3万平方米的地面交通中心、14.35万平方米的停车楼，并涵盖涉铁改 造、空侧捷运等关键工程。 据介绍，两个项目建成后将与深圳机场现有的T3航站楼、卫星厅、一跑道、二跑道以及即将投用的三 跑道高效协同，有力支撑深圳区位门户复合型国际航空枢纽建设。同时两个项目均位于空港北片区，启 用后将进一步拓展机场发展空间，有力带动机场北片区产业集聚和配套设施升级，为片区临空产业发展 注入新活力。 解读：2024年，深圳机场旅客吞吐量首次突破6000万大关，达6147.7万人次，居全国第四，货邮吞吐量 188.1万吨，其中国内货邮吞吐量稳居全国第一，航班起降42.8万架次，三大指标均创下开航以来的新纪 录。 不过，作为一个只有1座航站楼、2 ...

Market Overview - On August 25, 2023, a total of 33 stocks had closing limit orders exceeding 1 billion yuan, indicating strong market interest [2] - Among these, Tianpu Co. and Zhongke Shuguang had limit orders exceeding 1 billion yuan, with amounts of 1.797 billion yuan and 1.131 billion yuan respectively [2] Stock Performance - Baogang Co. had a limit order volume of 1.8699 million hands, leading the market, followed by Tianpu Co. and Helitai with 557,700 and 541,200 hands respectively [2] - Yuanlin Co. achieved a six-day consecutive limit up, while ST Dongshi and Chengfei Integration had five and four consecutive limit ups respectively [2] Industry Highlights - Zhongke Shuguang, a leader in the computing power sector, launched the Nebula800, the first standardized super-intelligent computing power platform in China [3] - The Chinese computing power platform construction is accelerating, with an expected growth of over 40% in intelligent computing power scale by 2025 [3] Rare Earth Permanent Magnet Sector - Key stocks in the rare earth permanent magnet sector, such as Jinli Permanent Magnet and Baogang Co., experienced limit ups [4] - Jinli Permanent Magnet plans to increase its high-performance rare earth permanent magnet material production capacity to 60,000 tons by 2027 [4] Gold Sector - Northern Copper's gold sales volume for 2024 is projected at 6,319 kg, with sales revenue of 3.56 billion yuan, accounting for 14.77% of total revenue [7] - Hunan Silver reported a 28.35% year-on-year increase in silver production for 2024, totaling 761.08 tons, and a 35.52% increase in gold production, reaching 2,683.28 kg [8] Institutional Investment - Ten stocks on the Dragon and Tiger list had net purchases exceeding 1 billion yuan, with Dongfang Precision and Jinli Permanent Magnet leading with net purchases of 605 million yuan and 550 million yuan respectively [9]

Core Viewpoint - The State Grid Beijing Electric Power Company is advancing 67 key summer reinforcement projects for the power grid, which will be operational by early July 2025, to meet the rapidly growing electricity demand in Beijing [4]. Group 1: Project Overview - The 67 projects include 19 main network projects and 48 distribution network projects, aimed at ensuring stable operation of the Beijing power grid and enhancing summer comfort for residents [3][4]. - The summer reinforcement projects are expected to add 150 kilometers of transmission lines at 35 kV and above, and increase transformer capacity by 1.73 million kVA [4]. Group 2: Regional Impact - The projects will effectively meet the electricity demand growth in areas such as Tongzhou, Chaoyang, Haidian, and the Beijing Economic-Technological Development Area, while also improving power supply capabilities in Changping, Miyun, and Shunyi [4]. - These initiatives are designed to support high-quality economic and social development in Beijing [4]. Group 3: Strategic Goals - The company is focusing on "strengthening capacity, addressing shortcomings, and ensuring safety" to optimize the power grid development plan and accelerate the construction and upgrading of both main and distribution networks [5]. - The year 2025 marks a critical phase in the implementation of Beijing's 14th Five-Year Plan for the power grid, with key projects like the Global and Jiangzhuang Lake 220 kV substations enhancing regional interconnectivity and reliability [5]. Group 4: Infrastructure Development - The projects incorporate smart technology to significantly enhance the resilience and reliability of the power grid, supporting various sectors including tourism, high-end industries, and artificial intelligence [5][6]. - Key projects also include the construction of 110 kV substations and the expansion of existing substations to improve power supply quality and address regional electricity pressure [6].

Market Overview - On May 21, 2025, A-shares experienced a high-level fluctuation, with the Shanghai Composite Index rising by 0.21% to 3387.57 points, while the Shenzhen Component Index increased by 0.44% to 10294.22 points. The total trading volume in the Shanghai and Shenzhen markets was 11,735 billion yuan, an increase of 38 billion yuan from the previous trading day [1] - Hong Kong stocks also saw gains, with the Hang Seng Index rising by 0.62% to 23827.78 points and a total trading volume of 2162.54 billion HKD [1] - In contrast, U.S. stocks fell, with the S&P 500 Index dropping by 1.61% to 5844.61 points, marking the largest decline in a month [1] Company News - UBS expressed optimism about the Chinese stock market, highlighting that foreign capital inflow will be a significant trading logic in the coming quarters, with Hong Kong stocks slightly outperforming A-shares. The recent performance of IPOs in Hong Kong reflects overseas investors' recognition and interest in China's core assets, indicating more long-term capital will flow back into the Chinese stock market [3] - Baidu reported a first-quarter revenue of 32.452 billion yuan, a year-on-year increase of 3% from 31.513 billion yuan. The adjusted operating profit was 5.33 billion yuan, exceeding the forecast of 4.89 billion yuan. The adjusted EBITDA was 7.2 billion yuan (approximately 993 million USD), with an adjusted EBITDA margin of 22%. The core adjusted EBITDA was 6.7 billion yuan (approximately 925 million USD), with a margin of 26%. However, Baidu's non-GAAP net profit decreased by 8% year-on-year to 6.47 billion yuan. R&D expenses for the first quarter were 4.5 billion yuan (approximately 626 million USD), down 15% year-on-year due to reduced personnel-related costs [3] Industry Development - The China Computing Power Platform (Shanghai) and the Shanghai Computing Power Trading Platform were officially launched during the 2025 World Telecommunication and Information Society Day series of events. The platform aims to integrate computing power monitoring, supply-demand matching, dynamic scheduling, industrial ecosystem community, and computing power challenge actions, focusing on achieving five key objectives: a national "computing power resource ledger," a "one-stop" service system for computing power matching, a comprehensive "computing power scheduling network," a collaborative "computing power ecosystem," and a "computing power technology innovation list" to tackle core technologies [4]

Core Viewpoint - The launch of the China Computing Power Platform in Nanchang aims to enhance the national computing power infrastructure and services, promoting a comprehensive open access to computing resources across various sectors [1] Group 1: Platform Features - The China Computing Power Platform integrates several functions including computing power monitoring, supply-demand matching, dynamic scheduling, industry ecosystem community, and computing power challenge actions [1] - The platform aims to achieve five key objectives: a national "computing power resource ledger," a "one-stop service" for computing power matching, a "unified network" for computing power scheduling, a collaborative "computing power ecosystem," and a "core technology breakthrough" list for technological innovation [1] Group 2: Key Participants - The launch ceremony was attended by Wang Zhiqin, Vice President of the China Academy of Information and Communications Technology, and Dai Bin, Deputy Director of the Shanghai Communications Administration [1]