VSTECS (00856) H1 2025 Earnings Call August 21, 2025 04:30 AM ET ModeratorPhilippines increased by 45.4%. Malaysia increased by 31%. Indonesia increased by 29.9%. We have constructed a platform that performs localized service for international brands and platform for Chinese companies to go abroad. We are an important partnerOur business with Apple for Southeast Asia increased by 104% within the reporting period, and we utilized our resources channels in overseas countries to help Chinese companies to go gl ...

央视网消息：山西省阳泉市，地处山西"东大门"，是晋察冀抗日根据地中的军事要塞和资源引擎。这座曾经见证了百团大战的 太行山城，如今成为创新高地。"红色沃土新答卷"，今天来看这座煤城的数智化蝶变转型。 阳泉还成为全国首个全域开放自动驾驶的地级市。除了自动驾驶公交车、无人驾驶出租车、无人清扫车等，当地还建成"车城 网"，"聪明"的车和"智慧"的路，再搭载高速的网，就能组合出最优交通管理方案。 阳泉领航科技产业有限公司总经理 乔斌亮：拿大连街来举例，大连街六个路口变成一个"自适应"路口以后，和原先的交通策略 相比较，大概车均延误率能降低45%，停车次数能有效降低70%。 近年来，阳泉市大力实施数字经济优先发展战略，建成中电数字经济产业园、"晋创谷·阳泉"等平台，智能终端、信创、大数据 等产业加速壮大。2024年，阳泉市数字经济核心产业营收增长13.3%，获评"2023—2024年度中国新型智慧百强城市"。 山西阳泉曾是百团大战的主战场之一，八路军及地方武装多次破袭正太铁路，重创日军交通命脉，在当地制高点狮脑山的战斗 尤其激烈。如今，狮脑山建成了以百团大战为主题的纪念性场馆，每年吸引40多万游客前来参观。曾以煤闻名的阳 ...

South Africa needs market consolidation. Um there too many players in South Africa for the profit pools that are available in the telecommunications and we've been consistent on that and uh we've encouraged the authorities to look elsewhere and uh see how consolidation like a place like India used to have 14 plus operators now it has three but actually the level of digital economies uh infrastructure investment and sophistication is much higher than when it was 14. And I think this has a similar um there's ...

在北京这座历史悠久的城市中，一股全新的科技浪潮正蓬勃兴起。作为人工智能技术的前沿阵地，北京凭借其得天独厚的科研资源、卓越的人 才队伍以及广泛的应用场景，正加速向全球人工智能高地的目标迈进。截至2024年末，这里已经汇聚了超过2400家人工智能企业，核心产业规 模接近3500亿元，占据了全国半壁江山，北京"人工智能第一城"的美誉实至名归。 金秋九月，当互联网发展的澎湃浪潮与北京这座"人工智能第一城"相遇，一场关于数字未来的思想盛宴即将拉开帷幕。2025北京互联网大会， 以"AI赋能 新质北京"为主题，承载着推动北京人工智能产业创新发展的使命，即将在北京盛大召开。 2025年，是全面贯彻落实党的二十大和二十届三中全会精神的关键之年，也是"十四五"规划的收官与"十五五"规划的布局之年。在这一重要节 点上，北京作为中国互联网技术的发源地，承载着引领行业发展的重任。本次大会由北京市通信与互联网协会主办，工信智媒体中心协办，汇 聚了行业主管部门、电信运营商、互联网领军企业等多方力量，共同探讨人工智能产业的未来之路。 大会设置了"1+1+3+3"的特色活动结构，即一场主论坛、一个智创"新"北京应用成果展、三场不同主题的分论 ...

Core Viewpoint - Zhongke Shuguang, a leading domestic computing power enterprise, continues to experience growth in its performance, with significant increases in both revenue and net profit in the first half of 2025 [1][3]. Financial Performance - In the first half of 2025, Zhongke Shuguang achieved total operating revenue of 5.854 billion yuan, a year-on-year increase of 2.49% - The net profit reached 731 million yuan, reflecting a year-on-year growth of 29.89% - The non-net profit was 585 million yuan, showing a year-on-year increase of 59.66% [1][3]. R&D Investment and Competitive Advantage - Zhongke Shuguang has established a comprehensive R&D and manufacturing system covering high-end computers, storage, security, and data center products since its establishment in 2014 - The company has invested a total of 5.431 billion yuan in R&D over the past five years, with annual expenditures increasing from 735 million yuan in 2020 to 1.292 billion yuan in 2024 [2][3]. - The company has maintained a continuous growth in net profit for 11 consecutive years since its listing, with revenue increasing from 2.797 billion yuan in 2014 to 13.148 billion yuan in 2024 [2]. Ecosystem Development - Zhongke Shuguang is actively extending its layout in the computing ecosystem, engaging in ecological construction along the industry chain - The company has launched various products and solutions in storage, network security, big data, and cloud computing, while also investing in high-quality assets like Haiguang Information and Zhongke Xingtu to achieve full industry chain coverage from chips to terminals, cloud, and computing power [4]. - The establishment of a wholly-owned subsidiary, Shuguang Information Industry (Shanghai) Co., Ltd., with a registered capital of 1 billion yuan, marks a significant step in accelerating the "chip-end-cloud-computing" full industry chain layout [4]. AI Infrastructure and Collaboration - Zhongke Shuguang has developed a complete computing industry ecosystem centered around five modules: intelligent computing, intelligent storage, intelligent cooling, intelligent services, and intelligent ecology - The "Shuguang AI Infrastructure" system supports low-cost and high-efficiency AI computing power for various industries, facilitating the rapid implementation of AI technologies [5]. - Collaborations with major companies like Baidu and Alibaba in AI server projects demonstrate Zhongke Shuguang's leading position in the domestic computing power infrastructure sector [5].

The future of money is digital — how ready are you for the #Web3 economy? 💡 ...

证券代码：002065 证券简称：东华软件 公告编号：2025-042 东华软件股份公司 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚 假记载、误导性陈述或重大遗漏。 一、对外投资概述 东华软件股份公司（以下简称"公司"）全资子公司东华云都技术有限公司 （以下简称"东华云都"）与全资子公司北京东华合创科技有限公司（以下简称 "合创科技"）拟以自有资金共同出资人民币 5,000 万元对外投资设立"和田东 华昆仑云都科技有限公司"（以下简称"东华昆仑云都"），其中，东华云都以 自有资金出资人民币 4,950 万元，占注册资本 99%；合创科技以自有资金出资人 民币 50 万元，占注册资本 1%。 公司第八届董事会第三十八次会议于 2025 年 8 月 8 日上午 10:00 以通讯表 决方式进行，以 9 票同意、0 票反对、0 票弃权，一致通过了《关于全资子公司 对外投资设立子公司的议案》，本次对外投资事项的审批权限在董事会对外投资 权限内，无需经股东大会批准。 以上各项内容以最终工商登记为准。 三、协议的主要内容 本次投资为全资子公司出资对外设立子公司，不需要签订投资协议。 四、对外投资的目 ...

Emerging Technology & Market Opportunity - The metaverse is fostering the development of new digital economies [1] - Industry participants should prepare to engage with virtual reality environments [1]

Core Insights - DocuSign (DOCU) and Spotify (SPOT) are digital leaders with scalable, subscription-based business models and large global user bases [1][2] - Both companies utilize cloud technology and data-driven personalization to enhance user experience and engagement [2] DocuSign (DOCU) Insights - DocuSign is enhancing its Intelligent Agreement Management (IAM) platform, integrating with Microsoft and Salesforce to optimize agreement workflows [3][4] - The IAM platform positions DocuSign as a comprehensive digital agreement hub, facilitating seamless contract management within familiar enterprise tools [5] - In Q1 FY26, DocuSign reported $764 million in total revenues, an 8% year-over-year increase, with $746 million from subscriptions, indicating strong SaaS model stability [6] - The company achieved a net revenue retention rate of 101%, suggesting increased customer spending, despite a 4% slowdown in billings growth [6] - DocuSign generated $228 million in free cash flow in Q1, reflecting a 30% margin, and expanded its share buyback program, indicating a focus on shareholder returns [7] - The forward 12-month P/E ratio for DocuSign is 21.83X, significantly lower than its median of 64.82X, suggesting it is attractively valued [20] Spotify (SPOT) Insights - Spotify has introduced innovative features like AI DJ and AI Playlist tools, leading to a 16.9% increase in monthly active users (MAUs) in Q4 2023 and a further 10% rise by the end of Q1 2024 [8][9] - The platform's average revenue per user increased by 4% year-over-year, indicating improved monetization through value-added features [10] - Spotify's partnership with ElevenLabs to offer AI-narrated audiobooks expands its content offerings and strengthens its position as a comprehensive audio platform [11] - The Zacks Consensus Estimate for Spotify indicates a 21% year-over-year sales growth and a 51% increase in EPS for 2025 [17] - Spotify has a higher forward P/E of 54.06X, slightly below its median of 54.07X, indicating a premium valuation compared to its growth prospects [20] Comparative Analysis - DocuSign is highlighted as having stronger fundamentals, deeper enterprise integration, and predictable growth with 98% of revenues from subscriptions [21] - While Spotify shows impressive user growth, DocuSign's profitability and capital discipline make it a more compelling long-term value play [21]

In 2015, Ethereum launched with a radical idea: that trust could be built into the internet itself.Ten years later, it’s become the foundation for a global digital economy.https://t.co/qZs9DwP9ABJoseph Lubin (@ethereumJoseph):Celebrating 10 years of Ethereum! Since its genesis block in 2015, Ethereum has demonstrated non-stop uptime, proving itself as the definition of antifragile. It has continually evolved to serve as a reliable trust layer for our fast-growing digital world. ...